Wednesday, November 15, 2017

The Turtle Experiment, Part 1

After writing about Richard Dennis I decided that the Turtle experiment – an experiment conducted by this famous trader – is much too interesting not to elaborate on it further. So in the next few posts I will give an overview of said experiment.

Let’s start from the beginning.

Richard Dennis decided to conduct the Turtle experiment following a bet with a fellow trader, who argued that Dennis was so wildly successful in his trading because he possessed a special gift, while Dennis himself believed that anyone could learn to trade successfully. In order to prove his point Dennis devised and conducted the Turtle experiment.

Dennis would gather a group of people and teach them his rules of trading and then they would trade with real money. Since Dennis had such an immense trust in his trading ideas he was ready to give his students his own money to trade with. He would train them for two weeks and once those two weeks were up he could begin training another group of people.

Dennis named his students “turtles” after the turtle farms he had seen in Singapore, where farmers grew turtles in an incredibly quick and efficient manner, figuring that he could train his students just as quickly and efficiently.