Trading strategy: Legend Richard Dennis shares secrets to millions - Business Insider

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Self-taught market wizard Richard Dennis took a $1600 loan and turned it into an estimated $200 million. He shares the (10-15) trading rules that turned his performance parabolic.

" series, entered the market fray the way most most plebes do: by throwing some things against the wall in hopes that something sticks.

"I would say I am self-taught," he said. "I had very pale ideas, rules, and attitudes about the market then. But a few that I learned were right, like go with the trend."— a market approach that leverages momentum and moving averages to discern buy and sell points. In time, the strategy would serve as the cornerstone of Dennis' entire trading methodology.

"The market being in a trend is the main thing that eventually gets us in a trade," he said. "Whatever method you use to enter trades, the most critical thing is that there is a major trend, your approach should assure that you get in that trend.""Yes, at a minimum, it is important not to have a short position with a loss on Friday if the market closes at a high, or a long position if it closes at a low.

 

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