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The Ugly Truth about the System Sellers

I`ve been trading and hanging around trading circles since high school. One of the sad realities of the trading � industry, and the futures trading industry in particular, is that there are far more people making money selling � others` systems and “ways to make money trading,” than there are people actually making money trading.

I won`t go into specifics here, but those of us who actually trade for a living know the names of many “famous � traders” who are famous as “traders,” but that don`t make money as traders. They make money selling new � trading systems, seminars, home study courses, etc. Most of these so called “experts” can`t trade and don`t trade � the systems that they sell.

Yes, this is also true of those selling the Turtle Trading Rules. Consider the major sellers: the first, a web site, � TurtleTrader.com, and the second, a former turtle. Here`s what they won`t tell you:

TurtleTrader.com - A web site run mainly by one guy (an admittedly talented web marketer that also has a � pharmacy site and a site that sells personality tests), turtletrader.com purports to have the actual Turtle Trading � Rules, and will sell them to you for $999.00. The site is filled with huge amounts of information about trading, � and bills itself as the “No. 1 Source for Trend Following Worldwide.”

What they don`t tell you is that the site is run by a guy who doesn`t even trade his own rules—or trade at all for � that matter—and has never been a successful trader. Yet he purports to be an expert on the “Turtle Trading � Rules,” and on trend following! You can get something close to the actual rules from this site, but you won`t get � any expert advice from the guy who runs it. All you will get is the regurgitation of advice from other traders that � is not tempered by the experience of a successful trading career. � Paying for advice from this source is a lot like hiring a blind guide.

In the final analysis, TurtleTrader.com is not any better than other scams and system selling hucksters he warns about. It is a site run by a guy who appears to me to be more interested in taking his customers` money than he is in their success with the system he sells; a site run by someone who misrepresents himself as an expert in � trend following, yet doesn`t mention that he doesn`t trade.

The money-back guarantee is almost worthless; you have to keep a log of all your trades and prove that you � made them in the markets by providing your brokerage statements. If you don`t like the rules and want your � money back, it seems exceedingly unlikely that you would open a trading account and then trade for a year just � to get the refund.

Former Turtle - This individual, a former turtle, sells tapes, books, hotlines, videos, seminars, and more, for � prices ranging from $29.95 to $2,500.

What the Former Turtle won`t tell you is that he never made money as a turtle; in fact he didn`t last a full year as � a turtle before he was fired from the turtle program because he couldn`t trade the Turtle System Rules � successfully. He lost money while most of the other traders were making a lot of money.

The Former Turtle lends credence to the oft quoted maxim: “Those that can do, those that can`t teach.”

I haven`t seen the seminar or read the books, but I can`t imagine how someone who couldn`t make money after � having been taught directly by Richard Dennis can explain to others how to trade using the Turtle Trading � Rules.