Yes you must have determination and be an individual with a good self work ethic. You must be a self starter and hard worker. In addition to many other skills and abilities.
A message to those that constantly complain
- Thread starter intradaybill
- Start date
This is bullshit.
While I agree that most won't be able to do it; it is not because of any lack of natural born inherent skills, abilities, or intellectual capabilities.
It's due to lack of capital, patience, dedication, and money management.
I can teach a San Diego Zoo monkey to trade.
You're waaay overrating yourself.
(Sorry Fly, you're a good dude, but you're off base on this one.)
+1
"Time", it is the only absolute edge in trading.
If you could teach any high school drop out with a sub par iq, average intellectual skills and analytical abilities to successfully trade you could be the richest man on the planet.
.....but you can't.
Even individuals with excellent analytical skills, knowledge of economics, solid math skills and extensive educations in finance etc simply do not automatically do well as traders.
Successfully trading and making money is a difficult endeavor. Most fail, especially individuals. The failure rate is extremely high there is no disputing this although placing an exact nu,mber on the % that fail is subjective ...but we should be able to agree that the failure rate is high. Just the external forces an individual is up against are enormous. The market is a harsh mistress. Financial houses have armies of economists, and security analysts sniffing out every little tidbit of info on a company that the average joe has no way of finding out. THEY HAVE THE EDGE. If you aren't bringing something unique in the way of personal skills and abilities and an inherent knack for trading the m,arket whill chew you up and spit you out. As it does to many.
So I disagree with your belief that anyone can trade.
If you truly believe you can teach anyone to trade than do so. You will be a billionaire in short order.
.....but you can't.
Even individuals with excellent analytical skills, knowledge of economics, solid math skills and extensive educations in finance etc simply do not automatically do well as traders.
Successfully trading and making money is a difficult endeavor. Most fail, especially individuals. The failure rate is extremely high there is no disputing this although placing an exact nu,mber on the % that fail is subjective ...but we should be able to agree that the failure rate is high. Just the external forces an individual is up against are enormous. The market is a harsh mistress. Financial houses have armies of economists, and security analysts sniffing out every little tidbit of info on a company that the average joe has no way of finding out. THEY HAVE THE EDGE. If you aren't bringing something unique in the way of personal skills and abilities and an inherent knack for trading the m,arket whill chew you up and spit you out. As it does to many.
So I disagree with your belief that anyone can trade.
If you truly believe you can teach anyone to trade than do so. You will be a billionaire in short order.
No, you'd be Peter Beck.
+100
A skilled trader can show anyone else what to do for successful trading... but no one can be taught how to trade.
That's the slight but monumental difference. Showing someone how to read a chart, break it down into action zones versus avoidance zones, how to measure for projected price targets, etc can be easily shared.
But the learning how to manage trades in various market conditions, how to quit before digging big drawdowns, how to manage oneself emotionally, how to self-monitor for "tilt" control, when to add size or reduce size... and a million other little details like that take real-life experience.
Experienced traders can show the core basics and demonstrate anything else. Aspiring traders must accept and assume all of the self-learning aspects from there.
Anyone can teach someone else how to throw a baseball, how to throw changeups and breaking pitches. No one can teach another how to throw strikes all around the batter zone.
Anyone can teach someone how to fire a rifle, how to reload their own custom rounds, how break the gun down down and clean it, etc. No one can teach someone else how to shoot five-round 5" bullseye groups at 500 yards.
That's the difference.
