Maximize your trading gains , not the number of winning trades you might have. This is the advice of famed Chicago futures trader, William Eckhardt . William Eckhardt image via azquotes.com Now, if you're not familiar with Bill Eckhardt by name, perhaps you know him by reputation. With his friend and partner, Richard Dennis , the pair concocted the famous "Turtle Traders" experiment, in which an eclectic group of novices were taught to trade futures with a rules-based trend following system. An excerpt from Dennis' Wikipedia page on the origins of the Turtle Trading program: "Dennis believed that successful trading could be taught. To settle a debate on that point with William Eckhardt , a friend and fellow trader, Dennis recruited and trained 21 men and two women , in two groups, one from December 1983, and the other from December 1984. Dennis trained this group, known as Turtles, for only two weeks about a simple trend-following system, tradin...
A trader's view of the stock market and emerging financial trends.