Are you above average

Most people thought earth to be round ofc, like pancake! Anything else is heretic and Wrong. Most humans are afraid to be themselves rejected and outcast, so reject and are unwelcoming succumbed by their own fears and cultural doctrine.
 
victorycountry said:
A lot of people talk about psychology issues but I don't know how it plays in traders' mind unless they are beginners. Once you know how wall street drives prices, you get no fear. Their trading strategy is quite straightforward. You only come across psychology issues when you are gambling.
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I think the point of the quoted article was that beginners often get over confident because they don't know what it really takes to obtain the skill.
 
"Reports that say that something hasn't happened are always interesting to me, because as we know, there are known knowns; there are things we know we know. We also know there are known unknowns; that is to say we know there are some things we do not know. But there are also unknown unknowns – the ones we don't know we don't know. And if one looks throughout the history of our country and other free countries, it is the latter category that tend to be the difficult ones."

- Rummy
 
victorycountry said:
You may have a point but I don't really agree with cognitive biases in professional traders/portfolio managers unless you are referring to people who are pretending to be professional.
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Hmm. There could be a selection bias in my statement, of course. Outside of ET, most people i interact with manage fairly large books and I rarely meet retail traders IRL.

However, my prior would be that most retail-size traders (say up to 1-2 million in capital) fail due to lack of knowledge (and thus lack of process) while most professionals fail because they are driven by their cognitive biases (even though they might have a sound process in place). My interactions on ET lend some proof to that hypothesis.
 
I always think I am a little below average, and I mean always. For example, it took me about 6 months to get through the first 6 NEETS modules because I wanted to learn how to build a Tube Amplifier. It has been two years now and I am still trying to understand all of the math in Dr R P Feynman's "Character Of Physical Law" Series at Cornell, I doubt I will understand it all. Had some friends in high school who understood it then, but, being a musician and getting chicks was more important to me. With that said, Mrs VIPER thinks I am above average, so I don't really care what anyone else thinks, HEHEHEHE.

Besides trading is more about self control than intellect, and looking a a business, not "whaaaaa all my moneys gone". Take a look at the BBC series "Million Dollar Traders" and see who won, it should be an eye opener for some here. It wasn't about raw intellect, but setting rules and following them. Oh and guess who was the biggest loser.

The Ever Reflective VIPER
 
Hey, V, funny you brought up Marshall, Jon Lord experimented with putting his C3 through a Marshall, he called it the Beast. I am trying for a more portable Leslie sound, the first will be 12-17 watts, then 40 watts, and after that MUahahahahahahhahaha.

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It's 1k watt, wooooohoooooo. OOOPs oh yeah, ummmmm smart people, psychology, intelligence, trading etc etc.

The Never Off Topic VIPER
 
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