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Click here to download "Think and Grow Rich"

Click here to download "Think and Grow Rich"

Turtle Trading Rules That Made Over $100 Million!

Richard Dennis was a small time trader who started trading commodities with only $300 and ended up making more than $150+ million. In early 1980s, he gathered a group of individuals who had little prior experience of trading and trained them to trade commodities with his trend following methods.
Over the next few years, his students became famous as the Turtle Traders and as a group made over $100 million following his Turtle Trading Rules. These trading rules are not difficult to understand and master. These trading rules that are generally based on Richard Donchian Channel Breakout Methods are pretty simple to follow. These were the entry rules for the Turtle Trading System;
Turtle Trading Shorter Term;
Enter into a long position on the breakout above price high of the preceding 20 days. In the same manner, enter into a short position on the breakout below price low of the preceding 20 days. If it was a true breakout, it will result in a winning trade. If it was a false breakout, the current breakout signal could be taken.
Turtle Trading Longer Term;
Enter into a long position on the breakout above the high of the preceding 55 days or enter into a short position on the breakout below the low of the preceding 55 days.
Those turtles who followed the above two turtle rules rigorously without any emotions made over $100 million profit as a group while those turtles who did not follow these rules religiously and allowed their emotions to come into play when making their trading decisions did not do well.
Richard Dennis used to say that he could publish his rules in the newspaper but it won't make any difference as long as the person who used them applied them with discipline and without emotions. Basically, these rules tell you how to trade channel breakouts. Richard Dennis made his fortune trading channel breakouts. Channel Breakouts are frequent in the currency markets. You can adopt these rules to the currency market as well. Download the Turtle Trading Rules FREE!