Not all Turtle Traders become champions

Still remember the Turtle Traders success story nurtured by Richard Dennis and Bill Eckhardt?

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They are a group of traders who start to learn forex trading from ZERO. All members of the group are taught trading methods and techniques following the same risk management principles. You need to know that not all members of Turtle Traders achieve the same exact achievement. There are some people who are very prominent, some are less successful. We call them the "Ordinary Turtles" and "Champion Chants".

The "Ordinary Turtles". Can not survive under mental pressure when the market shakes their capital. They tend to close their positions too quickly, or even let their positions lose too long. They are not able to optimize the trading system that has been given to them.

Meanwhile, the "Kura-Kura Champion" actually did the opposite. They can run a very well-known principle of trading: "Cut your losses short, let your profits run." The key to carrying this principle is the ability to not panic when market volatility grows, but instead retain confidence in the underlying arguments for decision making of a transaction. And that includes also doing cut-loss.

What is the difference between the "Turtle Champion" is "Ordinary Tortoise"? The answer is their psychology.