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Again, this is the paradigm that worked from the 1960s...get a degree, corporate ladder, mortgage etc. Ask any millenial how times have changed. Nowadays, only STEM or professional degrees give you any leverage and increasingly only from elite universities. A lot of young people have been fed...

That was in the 1940s (also he had a high IQ) As another example, the Baby Boomer generation of the 1960s left school with a high school diploma and bought a cheap property. Often had a job for life and a defined benefit pension. You cannot use the same paradigm of success in 2019 as they did in...

Was in the military. No trauma, no PSTD or other issues. No 'shrinks' and no issues of any shape or form. Some of the hard training I went through meant I had to develop mental resilience and strength of character and I relied on things like the teaching of Marcus Aurelius/stoicism to get me...

Zeno, please don't take this emotionally. I think this forum is a fascinating case study. I have truly learned so very much. I have learned to take lessons from your namesake Zeno of Citium (a stoic) and to disattach emotionally. Stocisim and Zen was helpful in my experiences in the military...

An easier trade might be to fill a room with gullible, low-IQ people and offer them training for £10k each. £300k risk free- over the space of a few hours. Here is one company I researched... https://www.bbc.com/news/uk-19909942...

As an example, look at the calibre of people hedge funds hire. You have to live in the real world. https://www.efinancialcareers.com/jobs-Hedge_Funds.s015 Usually need advanced degrees in math, physics etc. Occasionally Phd degrees. Best is from a top tier university. Increasingly, programming...

I would say that the best way would be to get employed in the industry, talk to people, assess companies., learn it from the inside out. I did this, rather than blow all my money as a new day trader. A side benefit is that you get paid to do it and can make friends and network into...

Sounds mystical...like saying 'I won't let facts get in the way of my version of the truth'. If you believe in your world view you should never be afraid of facts or numbers as all they will do is confirm it. You should never fear the truth as the truth shall set you free. Also, although the...

Sounds good. But can you quantify? After 20 years (I assume you are above 40) how much are you earning on a risk adjusted basis? Would this 'edge' be there in 10 years time (i.e. does it have longevity?) How much capital do you trade with? No need to publish this publicly if it is too...

Exactly. I agree. Do you now see the value of my posts here. Why I always say that people should check the P&L of the education provider? I am doing it to help people like you and save you your most precious commodity ...time (as well as money)

I would, if he had an audited P&L, worked on a performance fee and the investment compared well with other 'trades'.

At a far lower rate than day traders.

You are correct to an extent but generally wrong. Statistics describe and outline facts- that's how they work. This particular study drew certain conclusions from a diverse group over a long time frame. It did not measure a single individual. Also, it was not adjusted for e.g. for individal 1...

Gentlemen....the post is thought-provoking and encourages debate. It has value in that it challenges assumptions and allows you to think in new ways. In fact, it is about applying a 'trader's mindset' to a difficult game....one which you are almost certain to lose.....in such a way that you will...

At no risk :) And with the garbage on TV these days...minimal opportunity cost too...

Guys, open the link and read the research. Have some intellectual honesty. This is a peer reviewed study from a top university over a long-time frame. I simply replicated parts of it as the report would be too long. Facts don't care about your feelings. There have been numerous studies which...

I am 100 percent convinced that a trader's skills and mindset can be applied to life, to business ventures and so on. Unfortunately, I have seen little of it here. The premise is...a a true 'trader' would not day trade retail in the conventional sense (I refer you to the title) but exploit other...

Looks like things have calmed down recently. I was hoping for more data and case studies. Here is the one regarding the Taiwan traders. https://faculty.haas.berkeley.edu/odean/papers/Day%20Traders/Day%20Trading%20and%20Learning%20110217.pdf Some quotes 'However, very few traders are...

Hi again Zeno, I am increasingly coming to the same conclusion as the one you stated earlier concerning the characteristics of this forum but will write up a concluding statement of 'lessons learned' when I think this forum has run its course (for me anyway) . What is surprising is that over...

He asked for the company I worked. I gave him some guidance as to how to prevent being fleeced but could not give him the company as I still work in the industry and did not wish to incur reputational risk. Instead of thanking me, he attacked me afterwards on this forum with an accusation. I...