December 8

Richard Dennis – The Turtle Trend Follower

Last Updated on 8 December, 2022 by Samuelsson

Who was Richard Dennis?

Richard Dennis was a wellknown commodities trader and investor who rose to fame in the 1980s. He was a highly successful trader during the 1970s in the Chicago futures markets, and made a fortune in the commodities markets. He became famous for his successful commodities trading strategy, which he called the Turtle Trading System.

Dennis is credited with making tens of millions of dollars in the commodities markets, and his trading techniques are still taught today. He is also the founder of the Turtle Trader Fund, an investment fund that uses his trading system.

What is Richard Dennis most famous for?

Richard Dennis is most famous for founding the Turtle Trading System, a trading system which used a set of rulesbased strategies to buy and sell commodities on the futures market. He is also wellknown for his philanthropic work, investing in education and medical research.

What was the trading turtle experiment?

The Trading Turtle Experiment was an experiment conducted by two investors, Richard Dennis and William Eckhardt. In 1983, Dennis and Eckhardt recruited a group of individuals from various walks of life and taught them the rules of a trading system called “trend following”. The experiment resulted in the group making a profit of over $175 million in just five years.

How did Richard Dennis’ turtle trading strategies perform?

Richard Dennis’s turtle trading strategies performed incredibly well. Over a 10-year period, Dennis and his partner, William Eckhardt, produced an average return of 80% annually using the Turtle strategies. This is an incredible return compared to the average stock market return of 10-12%. The Turtle strategies have been credited with revolutionizing the way people trade and invest, and have been adopted by countless traders around the world.

You can read more about the turtle trading strategy and its rules, statistics, and backtest.

Did Richard Dennis write any books?

No, Richard Dennis did not write any books. He is most well-known for being a successful commodities trader and for teaching others the principles of trading.

Richard Dennis trading rules

Richard Dennis was a famous trader who developed a set of rules for trading. These rules are intended to help traders be consistent in their trading decisions and focus on the most important factors of trading.

1. Have a trading plan: Develop a trading plan that outlines your goals and strategies for trading. This plan should outline the markets you are interested in, the strategies you plan to use, the timeframe you plan to trade, and the risk management techniques you plan to employ.

2. Set realistic goals: Set realistic goals that you can achieve within the timeframe that you plan to trade.

3. Stick to your plan: Once you have created your plan, stick to it. Don’t get distracted by other opportunities or emotions.

4. Think objectively: Be objective about your trades and evaluate them based on the facts. Don’t let your emotions get the better of you.

5. Manage risk: Risk management is a key component of successful trading. Make sure you are aware of the risks associated with the markets you are trading and manage them appropriately.

6. Use stops: Utilize stop-loss orders to limit losses and protect your capital.

7. Be disciplined: Be disciplined in your trading and don’t make decisions based on emotion.

8. Take profits: Don’t be afraid to take profits when they present themselves.

9. Review your trades: Review your trades to understand what worked and what didn’t. This will help you improve your trading going forward.

10. Embrace change: The markets are constantly changing, so be prepared to adapt your strategies as the markets evolve.

Richard Dennis’ net worth

This is not publicly known.

Where was Richard Dennis born?

Richard Dennis was born in Chicago, Illinois, on January 12, 1949.

Richard Dennis’ turtle traders

The Turtle Traders were a group of traders made famous by the legendary trader Richard Dennis, who taught them his trading strategies in 1983. Dennis believed that anyone could be taught to be a successful trader, and recruited a group of 23 people with no prior trading experience and trained them in his trading methods. The Turtles became one of the most successful trading groups of all time, and are credited with making Dennis hundreds of millions of dollars. The Turtle system involved following a specific set of rules for entering and exiting trades, primarily involving the use of trend following, breakouts, and pyramiding strategies. The system was designed to be profitable in any market environment, and the Turtles proved it could be done.

Does Richard Dennis still trade?

No, Richard Dennis retired from trading in the late 1990s. He is now a philanthropist and environmentalist.

Does turtle trading still work?

It depends. Turtle trading is a popular trend-following strategy developed in the 1980s. It is based on the idea that markets often trend, and that traders can capture profits by entering trades in the direction of the trend and exiting when the trend reverses. While turtle trading is still widely used, it is important to remember that all trading strategies have their pros and cons, and that turtle trading is no different. But ultimately, the success of any trading strategy depends on the individual trader’s ability to understand the markets and manage (and handle) their risk.

Who was the most successful turtle trader?

The most successful Turtle Trader is Richard Dennis, who is credited with turning a $1,000 investment into more than $100 million. Dennis and his partner, William Eckhardt, created a unique trading program based on a set of rules that became known as the Turtle Trading System. The program was so successful that Dennis and Eckhardt recruited and trained a group of novice traders, known as the Turtles, to use the system to trade commodities. The Turtles ultimately went on to achieve significant success, returning an average of 80% per year.

How much did the turtle traders make?

The Turtle Traders, a group of traders who followed a trading system developed by Richard Dennis and William Eckhardt in the 1980s, were reported to have made over $100 million in profits.

Richard Dennis favourite trading indicator

Richard Dennis is best known for his development of the Turtle Trading System, which is a mechanical trend-following trading system. The Turtle Trading System uses a combination of breakout and trend-following strategies, with the main indicator being the 20-day breakout. This indicator is based on the notion that markets tend to trend for a certain period of time before reversing, so the 20-day breakout is used to identify when a new trend has started. The system also uses other indicators, such as the 55-day high-low average and the 25-day moving average, to confirm the trend and provide entry and exit signals.

10 FAQ about the trader Richard Dennis

1. Who is Richard Dennis?

Answer: Richard Dennis is a legendary commodities trader who is best known for his trading success, teaching his trading methods to a group of students known as the ‘Turtles’ and popularizing the Turtle Trading System.

2. When did Richard Dennis become famous?

Answer: Richard Dennis became famous in the early 1980s when he reportedly made over $100 million in a single year trading commodities.

3. What is the Turtle Trading System?

Answer: The Turtle Trading System is a strategy developed by Richard Dennis and William Eckhardt which uses a combination of price and money management techniques to enter and exit trades.

4. How did Richard Dennis make his fortune?

Answer: Richard Dennis made his fortune by trading commodities such as gold, silver, soybeans, and currencies. He used a combination of technical analysis, fundamental analysis, and money management to enter and exit trades.

5. What was the “Turtles” experiment?

Answer: The “Turtles” experiment was a trading experiment conducted by Richard Dennis and William Eckhardt in 1983. Dennis recruited a group of 14 people with no trading experience, taught them his trading system, and gave them each a $1 million stake to trade.

6. How did Richard Dennis become a successful trader?

Answer: Richard Dennis became a successful trader by combining technical analysis, fundamental analysis, and money management techniques to enter and exit trades. He was also an expert at recognizing and taking advantage of market trends.

7. How did Richard Dennis teach his students?

Answer: Richard Dennis taught his students through a combination of lectures, seminars, and one-on-one instruction. He emphasized the importance of discipline and risk management, as well as the need to develop a trading system that suited their individual personalities.

8. What is Richard Dennis’s legacy?

Answer: Richard Dennis’s legacy is that he showed that anyone with the right training and dedication can become a successful trader. He also popularized the Turtle Trading System, which is still used by traders today.

9. What is the Richard Dennis Trading Room?

Answer: The Richard Dennis Trading Room is an online trading room created by Richard Dennis in which traders can share ideas and discuss trading strategies.

10. What lessons can we learn from Richard Dennis?

Answer: We can learn lessons from Richard Dennis such as the importance of discipline, risk management, and developing a trading plan.


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