Saturday, April 30, 2016 3:00:27 PM
THE WALL STREET JOURNAL
TUESDAY, SEPTEMBER 5, 1989
By Stanley W. Angrist
Can the skills of successful commodity trading be learned? Or are they innate, some sort of sixth sense a lucky few are born with?
Richard Dennis, the legendary Chicago commodity trader, who turned a grubstake of $400 into an estimated $200 million or so in 18 years, has no doubt. Following an experiment with a group of would-be traders recruited from around the country, he's convinced the secrets of commodity trading can be learned.
Over the past 4.5 years, a group of 14 commodity traders he taught earned an average annual compound rate of return of 80%. in contrast, about 70% of all non-professional commodity traders lose money on a yearly basis.
"Trading was even more teachable than I imagined," he says. "in a strange sort of way, it was almost humbling."
Mr. Dennis says be had debated the learning vs. innate-ability question with some of his associates for years. While they argued that his skills are "ineffable, mystical, subjective or intuitive," he says, his own answer was far simpler ...
To prove his point, Mr. Dennis decided to run a real-life experiment. In late 1983 and again in 1984, be placed ads in The Wall Street Journal, Barron's and the New York Times seeking people who wanted to be trained as traders ...
Mr. Dennis provided classroom training for two weeks, teaching the fundamentals of commodity trading and the principles behind his methods of trading ...
https://books.google.com/books?isbn=0133094634
personal philosophy: When a strategy continues to work, continue using it. When it quits working, try something else. Criticizing one's self then searching for improvement is a winning strategy. Incessantly criticizing and undermining others identifies low self-concept.
TUESDAY, SEPTEMBER 5, 1989
By Stanley W. Angrist
Can the skills of successful commodity trading be learned? Or are they innate, some sort of sixth sense a lucky few are born with?
Richard Dennis, the legendary Chicago commodity trader, who turned a grubstake of $400 into an estimated $200 million or so in 18 years, has no doubt. Following an experiment with a group of would-be traders recruited from around the country, he's convinced the secrets of commodity trading can be learned.
Over the past 4.5 years, a group of 14 commodity traders he taught earned an average annual compound rate of return of 80%. in contrast, about 70% of all non-professional commodity traders lose money on a yearly basis.
"Trading was even more teachable than I imagined," he says. "in a strange sort of way, it was almost humbling."
Mr. Dennis says be had debated the learning vs. innate-ability question with some of his associates for years. While they argued that his skills are "ineffable, mystical, subjective or intuitive," he says, his own answer was far simpler ...
To prove his point, Mr. Dennis decided to run a real-life experiment. In late 1983 and again in 1984, be placed ads in The Wall Street Journal, Barron's and the New York Times seeking people who wanted to be trained as traders ...
Mr. Dennis provided classroom training for two weeks, teaching the fundamentals of commodity trading and the principles behind his methods of trading ...
https://books.google.com/books?isbn=0133094634
personal philosophy: When a strategy continues to work, continue using it. When it quits working, try something else. Criticizing one's self then searching for improvement is a winning strategy. Incessantly criticizing and undermining others identifies low self-concept.
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