Well dude, before you respond to my post, please take a few seconds to read and comprehend what I have written. Once you graduate, with a doctorate degree, you are a doctor; where did I talk about what kind of doctor or what it takes from the time you call them Dr. to the time they can practice in whatever field they chose or were educated?
10,000 hours to learn trading - Who wrote this rule?
- Thread starter tomorton
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Well dude, before you respond to my post, please take a few seconds to read and comprehend what I have written. Once you graduate, with a doctorate degree, you are a doctor; where did I talk about what kind of doctor or what it takes from the time you call them Dr. to the time they can practice in whatever field they chose or were educated?
If you are talking about a Phd, then you gotta include time spent as an undergraduate studying the same/related subjects. So again over 10,000 hours easy.
More like 5 years...8 hrs a day....50 weeks a year.
What is apparent, if in fact it takes 10,000 hours of live trading before you are skilled, is that you darn well better be wealthy before you start, because that is a long time to be losing money or even breaking even; unless of course you are robbing banks part time. LOL Even more logic is lost in the debate!
10,000 hours to learn trading - Who wrote this rule?
I believe the concept was good marketing. Very good marketing. In all seriousness, you have to be a bit of a savant to put that much time into anything without being compensated monetarily for your time.
All the greats tend to be savants/loners/manically depressed
I believe the concept was good marketing. Very good marketing. In all seriousness, you have to be a bit of a savant to put that much time into anything without being compensated monetarily for your time.
All the greats tend to be savants/loners/manically depressed
...
The lack of work/trading collegues means lack of feedback on progress and lack of guidance.
Trading imo, suits hermit mentality people though best, if one were locked up in a prison cell in solatary confinement, one would be proficient in under 10,000 hours.
Quite frankly, I don't understand most people, outside of trading, 40 years of being a hermit to various degrees, I think I have over 100,000 hours and if not, close to it in trading/studying, not dead yet, but often wish I was. Have started several businesses, owned real estate, most of the time dealing with people I am "winging" it, react to probabilities by what I see and memorized. Co-owned a brokerage in the 90s, 9 out of 10 day traders were gone after 3-4 months losing 20k on average. Until several weeks ago, just thought I was fucked up mentally and lack coordination at 6'6" tall but I could break codes in dozen languages, patterns and hear sounds when I found what I was looking. Now I have a label to explain the whys. I don't feel smart at all, but tests say differently, people confuse me often on this forum. Xela understands me and I understand her more, have been friends with NoDoji and she is not me, but she is very dedicated to trading well. Takes much more than 10,000 hours to develop Holy Grail, results always by error. My thought processes form a tunnel and can't leave till I break it, ie discover answer. Human emotions which generally I lack, can be programmed by formulas and tested. I think the less you are smart, faster you understand how to trade. More patience of waiting for opportunity to come to you is key.
Finding the Holy Grails takes evolution. You do have to be "smart" to design develop R&D the system rules. Then you have to "dumb" yourself down to trade the rules.
"it takes 10,000 hours of live trading before you are skilled" Who spoke about 10,000 hours of trading? 10,000 hours to LEARN, and start to trade till you are SKILLED; not to trade.
In analyzing and papertrading till you are profitable you don't lose any money. Just the expenses to have the required data and software. And spent the necessary hours.
10,000 hours till you are SKILLED does not mean that you cannot already make some money the last 5,000 hours. The word SKILLED has to be defined correctly. SKILLED to me means make enough money to live from trading.
So you don't need 10,000 hours to be a trader, you need 10,000 hours to be a SKILLED trader. That's a huge difference.
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