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One of the oldest most reliable method of trading is trading Break-outs. Trading break-outs means executing trades after price breaks out from resistance and support levels. long trades are taken after a confirmed break upwards from a resistance level, and short trades are taken after a confirmed break downwards from support levels. There is a popular group of traders who have successfully made millions trading this system, they are called the Turtles.

The Turtle Experiment

In the early 1980s, a famous commodity trader called Richard Dennis had a bet with his friend William Eckhardt. Richard Dennis bet that anyone could be taught to trade profitably, provided the person being taught adhered strictly to the system. William Eckhardt believed that trading required some natural skill, some kind of sixth sense, that instinct more than skill was what separated the legendary traders from the rest of the pack. he argued that it was this gift or instinct that made Richard Dennis such a successful commodity trader.
Richard Dennis immediately set out to get a team of novice traders, he placed an ad in the papers requesting for applications from anyone interested in joining his trading firm
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risgiantoro avatar

What a nice article, but I wan to ask you
How to attach 20-day EMA on 1 hour time frame chart, should I enter 20 in time period or 480 ( 20 day X 24 hour ).

P3tr4 avatar
P3tr4 9 Oct.

Just use 20 as the time period

Airmike avatar
Airmike 23 Oct.

nice article

CASPI avatar
CASPI 26 Oct.

Basit ama iyi bir strateji. Yalnız günlük uygulama çok risk içerir. Daha iyi stratejiler var. önemli olan sabır ve disiplindir. İyi şanslar.

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If there's one thing that most traders are always looking for, is a set of rules or a system that allows them to trade the markets profitably. In this article I will describe a complete trading system used, in the past, by a very famous trader and the people he taught, and then later on by several hedge funds managed by his disciples. It can be used "as is", without any modifications, or you can use it as a basis to develop your own system, further enhancing the power of the original rules. ________________► The Turtle bet In the early-1980s, one of the greatest and richest traders of the 20th century, Richard Dennis, and his friend Bill Eckhardt, were having an ongoing discussion on the viability of teaching people how to trade. Richard was convinced that it was possible to teach ordinary people to become good traders, while Bill believed that great traders possessed a natural skill, some sort of sixth sense that could not be taught. In order to settle this discussion they made a bet: they would recruit a few inexperienced people for their trading company, C & D Commodities, teach them the rules of the system they already used, give them capital to trade, and then see if t…
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elvy avatar
elvy 31 Dec.

Nice article, all best for you +1

yadi avatar
yadi 31 May

nice article. that is the original turtle rules. the most difficult part of turtle trading is the position sizing and risk management. Even R Dennis said if you publish my rules on the newspaper, no one will follow. i just dont buy the market ranging for 80 % of the time. that doesnot seem right. The markets are played by people, if people dont know where to go, who will then? My mentor has been trading the markets for decades, he is exellent in trading. He only trades when trending moves happen. He can double his account easily each year.

yadi avatar
yadi 31 May

well, the trading results can be very ugly sometimes when the markets lack of volitility. some times for a month, there can be no winners (depends on the timeframs you choose). anyway, if you dont believe this system, look somewhere else. There are lots of strategies out there. by the way, if you trade on a 5 min chart in asian times, for sure 80 % of the time is ranging.

Jason_Lai87 avatar

"we are going to grow traders like they grow turtles in Singapore"

This words need to be corrected. Richard didn't establish the turtle traders based on what he found in Singapore. He was in Kapas's Island Terengganu, Malaysia with Bill when they got the betting idea. Singapore doesn't have any turtle survival centre unlike Malaysia. 

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