Richard Dennis is a significant figure in the world of trading, known as a fund manager, trader, author, and mentor. However, his career journey was not always smooth. Dennis started trading at the age of 17 with his own capital and initially achieved impressive success. However, he also experienced a major failure that nearly bankrupted him during the 1987 US stock market crash.
Here is the complete story of how Dennis managed to recover from that bankruptcy.
Although he was a follower of the famous trader of his time, Richard Donchian, Dennis also developed his own unique trading style. He used pyramiding strategy and relied on instinct to predict price movements. However, his aggressiveness also led to significant losses during the 1987 stock market crash, nearly bankrupting him.
As a mentor, Dennis emphasized the importance of discipline and consistency in trading. For novice traders, he advised acting correctly according to the strategies they use, as it would lead to long-term success.
With patience, consistency, and a systematic approach, Richard Dennis successfully recovered from bankruptcy and regained success in the world of trading. His career journey story inspires many to continue striving and learning to achieve their trading goals.