FX Trading Education – Essential Tips From a Group of Millionaire Traders For Bigger FX Profits

If you are looking for essential FX trading education, you need to learn from the best and in this article we will look at a group of novice traders who, learned to trade in just a couple of weeks and then went on to make hundreds of millions of dollars, in one of the most famous trading experiments of all time.

Richard Dennis was a multi millionaire trader and wanted to prove that anyone had the potential to learn to trade successfully, so he decided to prove it.

He put an advert in the paper advertising for people who wanted to learn trading and he gathered a broad cross section of people including – an actor, a security guard, a boy just out of high school, a lady auditor and a professional card player and many others and taught them to trade in 2 weeks.

He set them up with trading accounts of a 100,000 dollars each and let them trade and they made several hundred million dollars. The Turtle experiment as it as so called became one of the most famous of all time and proved anyone could be taught to win at trading.

Dennis obviously proved his point but you are probably thinking – he taught them in 2 weeks to trade like pro’s yet 95% of traders lose money, how did he do do it?

Here are the key points on how Dennis did it which you can use to achieve currency trading success and some of the points may surprise you.

– The system taught was incredibly simple and was simply a breakout trading system which looked to trade long term trends. Despite what many people say, simple systems work best and always will because they are more robust with fewer elements to break than complex ones.

– The system lost far more trades than it won (in fact most systems that make big gains do) but as the pro traders know, its not the ratio of trades that win which is important, its the profit v loss per trade. Many of the world’s top systems win only 30% of the time but make huge gains because there money management is so good.

– All the traders, when asked about the hardest part of trading said, learning the system was the easy part of their education, getting the right mindset to cut losses quickly and wait for the big profitable trades was hard. They did it but trading with discipline still remains hard for most traders.

The way to achieve Forex trading success is the same as it’s always been and that’s to use a simple system but have the mindset to apply it with discipline and keep losses small.

Anyone can learn a system that can win but most traders fail to make it win because they are obsessed with wanting to be right all the time but if you want to make money at Forex trading that’s not possible – you need to be humble and lose but keep your losses small and don’t worry, taking losses is fine, because you if you keep them small the big trends will come around again and you can get into them and follow them for huge profits.

You may not become as rich as the traders above but what will say is if you learn how they achieved success and you get a simple trading system and make the choice to trade it with discipline – you can make a great second income in around 30 minutes a day.

Essential Forex Education From a Group of Super Traders You Should Learn Now For Bigger Profits!

If there is one piece of essential Forex education all traders should learn its the one the group of super traders we will look at here can teach you. If you learn this lesson, it can pout you on the road to Forex trading success.

Trading legend Richard Dennis, had always wanted to prove that anyone could learn to trade, so he decided to prove it, so he gathered a group of people together and taught them to trade.

The people he taught were just regular people and ranged from an actor to a security guard and the only thing they had in common was – they had never traded before.

Dennis set a time frame of two weeks to train them and then gave them money and accounts and what happened next has gone down in trading history:

They made hundreds of millions of dollars and became trading legends!

Now the question you might be asking yourself is – they learned in two weeks and achieved stunning success yet, 95% of traders lose so how did they do it?

Someone once said to me Forex trading is not easy but it is simple and anyone can win and that phrase, applies to the above group of traders.

Forex trading is simple, anyone can learn a method that can make money and the one Dennis taught, was a simple, long term breakout trading system which of course, is a timeless way to make money but a good method, alone does not guarantee success – Why?

Because a trader has to apply it with discipline and most traders can’t do that.

They simply fall victim to their emotions and when they lose, they take losses personally, get angry and then make the errors – of running losses, trading to much to recoup losses, changing systems or quitting.

Applying a method with discipline is hard – it can be done of course but you need confidence in what your doing and the mindset to accept a lot of small losses cheerfully and then have he courage to run your gains.

In interviews with the traders Dennis taught, none of them found learning the method hard but what they did find hard was cutting losses in fact, they had far more losses than profits but they made huge gains, because Dennis drilled into them that they would never succeed unless they traded with discipline.

So if you want to win, you need a good method and a long term breakout trading strategy such as the one the group above used is a great way to trade but you MUST learn to lose cheerfully, keep losses small and have the courage to run your profits.

Sounds simple?

It is but don’t think it’s easy and you wouldn’t expect it to be with the rewards on offer but if you understand this article, you know EXACTLY what to do to enjoy currency trading success – good luck!

Educational Principles that may Promote Entrepreneurial Behaviour in the 21st Century


Entrepreneurship demands that a person is willing to take risks, venture and achieve results. This implies amongst others that the person should be willing to dare to do and stake his or her future on something. Often, this required output behaviour is inhibited by the educational approach followed in the teaching and learning environments to which people are exposed.


The purpose of this article is to propose some educational principles that if adhered to, may promote and sustain entrepreneurial behaviour in a knowledge driven economy.


Principle 1: Introduce learning and teaching approaches that would stimulate the curiosity of students to discover essentials for themselves for the sake of discovery itself.

This demands that educators should rather try to play a minimum role in education rather than a maximum role. Rather, equipment and learning design should be carefully planned and structured to allow students to discover essential learning principles for themselves as well as the applications thereof. This should be done in the absence of specified learning outcomes specified by curriculums. Specified learning outcomes creates a situation in which it is assumed that the present expertise knows best what is required to succeed in the knowledge economy and while it may be partially true, the negative effects of installing inhibiting neuroses in the learner, may outweigh the advantages thereof. Instead, the educator should allow learners through education design to discover essential building blocks and fulcrums of the discipline through a process of self-discovery. Allowing learners the opportunity to discover for themselves, opens the door for discovering what you as learner wants to be and what you would like to understand and articulate. Through a process of self-directed discovery and determining one’s own discourse, the learner focuses on what he could be instead of becoming dissatisfied by not becoming what other successful people became. To become a fulfilled and entrepreneurial person, the learner needs to become what he valued and want to keep.

But, this can only be achieved if learning is not considered to be a mechanical process. Rather, it should be approach following an adventourous and autonomous approach. Marie Curie, Nobel Laureate, expressed it as follows: “I am among those who think that science has great beauty. A scientist in his laboratory is not only a technician, he is also a child placed before natural phenomena, which impress him like a fairy tale. We should not allow it to be believed that all scientific progress can be reduced to mechanism … Neither do I believe that the spirit of adventure runs any risk of disappearing in our world” (Goldsmith,2005).

Such an approach will develop cognitive reasoning abilities applicable to various situations, complexity levels and disciplinary foundations.

Too stimulate curiosity questions posed to learners questions should be asked as specific as possible. Vagueness runs the risk may contribute to the destruction of curiosity in the learner. By being specific in questioning and probing, the chances increase for concrete and specific discovery. In seeking answers, the student should experience as much as possible autonomy and the enjoyment of discovering essentials and truths as unaided as possible.

Principle 2: Continuous experimentation with learning and discoveries

Once new fundamentals were discovered, new theories proposed and opportunities recognized, it is important to learn and rediscover by continuing with the process of experimentation in order to validate self-discovery and to strengthen confidence in what was discovered. It is further essential that the learner learn more from “going” experiences and broadening the experience in more complex and real situations. Creating an intellectual climate in which experimentation could take place may foster the development of stable-minded individuals and the intellectual growth of learners.

Principle 3: Transfer of knowledge across disciplinary boundaries

As different academic disciplines, professional codes, and academic language act as boundaries that conflict with the need to integrate information a need exist to amalgamate knowledge and allowing educators to play “bridging roles” through articulation of common organising principles, values, reporting and control mechanisms This will enable educators in entrepreneurial education to link otherwise unconnected disciplines to facilitate the development of unique knowledge systems and increase access to special knowledge and opportunities. Due to the fact that not all learning can happens in a linear fashion or without structural constrains, it make sense to present a subject or two relating to science which may act as a catalyst to temper the minds of learners with regards to phenomena and its relationships with nature.

Principle 4: Educators needs to free themselves from inhibiting influences and also enter into a discovery learning mode.

This principle demands that all educators should exposed themselves to critical self-reflection, and if required obtain expert advice to elucidate on components in which improvements are required. The educator should also study as much as possible literature as possible, obtain exposure to as many technologies as possible, participate in discussion forums, debate observations and force him or herself to postulate ideas of his or her own as precisely and exactly as possible in cases where existing knowledge could not provide the answers or explain practical situations well enough. The latter component is considered a fundamental to build critical thinking and stimulate creative and innovative thinking.

In order to remain in control of the learning process it is essential that the responses of the learners are captured, assessed and that this information is used in debates with learners.

Principle 5: Learners need to see and observe more than their immediate environment

This principle is proposed in order to prevent mental “geographic retardation” driven by the constraints of localized knowledge systems and influences. Exposure to other environments will broaden the minds of learners in terms of discovering their own individual needs and aspirations and hunting for information from collective knowledge pools. To achieve this, the educator should rather fulfill the role of “Free Agent” to align opportunities with the discovered needs of the learners. It may be conducive to allow learners to identify places to visit, organize the events by themselves and do the costing for such events. By seeing and observing outside the immediate learning environment, the honeymoon effect of most training programmes, in which knowledge is fading away after a relative short period of time, can be largely eliminated. This approach will also teach them self-management skills, considered to be essential for any entrepreneurial venture. Further, learning and behavioural changes that occur due to visits to other environments may be considered as intentional changes based upon who the learner is and what the learner wants to be.


This article intended to provide a stimulus on what needs to be done to enhance learning appropriate for the knowledge economy of the 21st century as it relates to promoting entrepreneurial behaviour. The proposal is based upon 5 basic principles to which education should adhere in order to maximize self-directed discovery, identification of learning fundamentals and taking self-control over learning.


Boyatzis, R.E. 2001. Unleashing the power of self-directed learning.
Downloaded: 11/03/06

Goldsmith, B. 2005. Obsessive Genius: The inner world of Marie Curie. Phoenix: London.

Lampe, D. 1959. Pyke, the unknown genius. The Scientific Book Club: London.