Posted by gijoe > 2012-07-26 22:12 | Report Abuse

Not everyone can be trader, like not everyone can be singer or doctor. But everyone can be investor, like buying amanah saham malaysia or bond fund.

Posted by willy > 2012-07-26 22:31 | Report Abuse

The Turtle Experiment

By the early 1980s, Dennis was widely recognized in the trading world as an overwhelming success. He had turned an initial stake of less than $5,000 into more than $100 million. He and his partner, Eckhardt, had frequent discussions about their success. Dennis believed anyone could be taught to trade the futures markets, while Eckhardt countered that Dennis had a special gift that allowed him to profit from trading.

The experiment was set up by Dennis to finally settle this debate. Dennis would find a group of people to teach his rules to, and then have them trade with real money. Dennis believed so strongly in his ideas that he would actually give the traders his own money to trade. The training would last for two weeks and could be repeated over and over. He called his students "turtles" after recalling turtle farms he had visited in Singapore and deciding that he could grow traders as quickly and efficiently as farm-grown turtles.


Read more: http://www.investopedia.com/articles/trading/08/turtle-trading.asp#ixzz21jsnebYh

Posted by gijoe > 2012-07-26 23:02 | Report Abuse

Ok. If Dennis can find or choose his group, that is possible, trader can be trained. :)

Posted by AL833D > 2012-07-27 00:40 | Report Abuse

hi Mr Teh,
thanks for your hard work to write and post in ur blog. i learn a lot from u!! TQ.

Do i think traders can be trained? my opinion, we can train a trader to using some system or formula to trade.
maybe using some indicator or chart.
But can his make money in long run after trained?
in stock market,any formula that show accurate in the past, will not show the same in coming future! u know why?
Human very clever, they study a system or formula that show accurate in the history and apply it at now.
then the system become popular and more people apply it. when this happen the system sure become unaccurate becoz the market affected by it!
(this a bit like uncertainty principle in Quantum Physics,
which notes that measurements of certain systems cannot be made without affecting the systems, when affecting the system measurements become unaccurate!).

hi gijoe,
agree with u that not everyone can be trader (that trading with money making for long run), like not everyone can be doctor.
But everyone can be investor, like buying amanah saham malaysia or bond fund? i think half true. be investor we need to learn more!!!
let say Mr KAYA have RM 800k cash and Mr Miskin have RM 200k only.
Mr KAYA use RM 800k invest in Bond Fund, like Public Bond Fund (5% average return).
Mr Miskin using his RM 200k buying dividend select counter, like PBBANK (average 4% DY, maybe average 10% capital grow ).
in this case who should be true investor? assume that 2 smart investor reinvest their dividend for 15 yr.
After 15 years Mr KAYA still kaya, he double his money to RM 1.6++ million!!
Mr Miskin 3 time double up (2x2x2=8) his money to RM 1.6 million!
Above example is true for the past, for future is depend on what system we apply now! (uncertain !)
Just for sharing. Good luck .

Posted by CP TEH > 2012-07-27 01:32 | Report Abuse

Hi Willy

For your info, the word 'tratle' I am using for my group of traders came from the word "turtle trading". Obviously, you know what book I read. I do like Jesse Livermore's too.

Hi AL

Thanks. It is difficult to train a trader, because in my opinion ... one may have a system or method, that is only 20% of trading. I will place 50% on mindset and another 30% on money management.

It takes a strong character, discipline and patience to learn ... and trade well. That explains why majority will not want such pain of learning and looking for a software, system or 'sifu' around. It never easy to think logic. Not when emotion is in high.

Personally, I m still learning ... to be compose, to be more patience and re-fine my trading strategies/systems. There is no right or wrong in trading, but years of learning.

Thanks and night.

TEH