Richard Denn forextradingbrokerwebsite is a famous commodity trader s forex trading sitece the 1970s He is known for building a pioneering team of turtle traders who made huge profits using simple mechanical copycat trading methods through which he bet on winning over his partners William Eckhardt, who worked hard to validate the point that anyone can be taught to trade successfully Dennis is known as a commodities trader, forextradingwebsiteonline in fact his funds trade all financial futures, including stock indices like the Dow, commodities like sugar, currencies like the yen follow the trend The original Turtle trading strategy was based on A simple rule-based breakout system that is completely mechanical in nature Basically, when a cashback forex breaks out of a recent range, Dennis will issue a buy or sell order in the direction the market is moving in hopes of profiting from a new trend He will also use the law of screening and only trade if the signal was profitable (simulated or actual) the last time it appeared When When the market returns and begins to move in another direction, he will stop and look for a new signal This approach has enabled Dennis to catch many large trends with a win rate of around 35%-40% (the general case for trend following systems) Trading forex like Dennis does is a relatively simple matter of simply following the breakout trend in the forex market and following the market trend until the market start to return in the other direction Turtle traders reportedly made over $175 million in profits after five years of trading with this method still works? Since the Turtle trading strategy became more widely known in the 1990s, the strategy has been included in many published trading books, and it is no longer considered to be useful. Many Turtle traders, including William Eckhardt, are still very successful in the market today. We think it is not unreasonable for them to trade in a derivative mode, and their strategies are not too different from the original Turtle system.
