Have you seen the comedy movie "Trading Places" [1983] ?
If not, you must get a video and watch it.
Here is the story :
Mortimer and Randolph Duke are commodity brokers who enjoy a little wager now and then.
For the latest bet, Randolph believes they can take a common criminal and make him a successful commodity trader in the company.
The criminal, Billy Ray [ Eddie Murphy], is to be given the job and home of Louis [Dan Aykroyd], who in turn is set up for crimes he didn't commit, to see if he resorts to crime once he's lost his rich environment and friends.
The resulting movie is hilarious and fun to watch.
`Trading Places' is one of the best movies and one of the best comedies that I have had the privilege of viewing and almost every aspect of this movie is done to the highest excellence and the highest quality.
I have always considered that some of the most entertaining and enjoyable movies came out during the 1980s and `Trading Places' definitely falls within this category.
Actually, I will tell you a REAL LIFE story which is similar to this movie and took place around the same time.
In 1984, Richard Dennis taught a Trend Following trading methodology to a group of students (neophyte non-traders) in a two-week seminar.
Dennis' motivation for conducting the sessions was to settle a dispute with his friend and business partner William Eckhardt over whether trading skills could be taught.
Dennis strongly believed that trading abilities could be broken down into a set of rules that could be passed on to others.
Eckhardt believed trading abilities had more to do with innate instincts.
Eckhardt lost the bet with Dennis.
The group of 14 traders he taught earned an average annual compound rate of return of 80%.
In contrast, about 70% of all non-professional traders lose money on a yearly basis
Dennis nicknamed his proteges Turtles after visiting turtle farms in Singapore and deciding to develop traders like farm-grown turtles. Today, the original system has enabled Trend Followers to achieve outstanding returns with annual returns from 25% to over 100%. Using Trend Following, some traders have seen returns exceed 100% in a single month.
The main emphasis of the Training course was to concentrate on TRENDING STOCKS and have STRICT RISK CONTROL and MONEY MANAGEMENT.
Read about it at the following link :
http://www.turtletrader.com/turtle-trading.html
