Do trading edges for retail traders rely on intellect or do they rely on knack ?

[murray t turtle]

Bernard was just plain wrong , your genes are down to chance , your early experiences which extrapolate into later experiences down to chance , which are the only two inputs you have into the decisions one makes.

%%
OK;
+ what if he is only 80% right??,??, ?????[Losses= laziness] , Im 100% sure he did not hit 80% of the live/wild quail he shot= unless he bush whacked them!!!!!

 

[ironchef]

I am similar to Ray Dalio who claim we are dumb-shits.

I am glad you are similar to Ray Dalio! I am happy for you.

Wish you continue to have a happy and profitable New Year!

 

[Sig]

One pretty universal truth demonstrated here nearly daily is that everyone lacking intellect will claim that it's all about some variation of "knack" and often go further to claim that intelligence is actually somehow bad, generally with some variation of a "I knew this one guy with a PhD who couldn't trade because he was too smart..." story and certain use of the term "ivory tower". And none of them will have audited consistent positive results over time.

Not for nothing, you'll also find that the vast majority of finance professionals have some intellectual horsepower behind them.

You can come to your own conclusions on which group a retail trader is best served emulating.

 

[ironchef]

One pretty universal truth demonstrated here nearly daily is that everyone lacking intellect will claim that it's all about some variation of "knack" and often go further to claim that intelligence is actually somehow bad, generally with some variation of a "I knew this one guy with a PhD who couldn't trade because he was too smart..." story and certain use of the term "ivory tower". And none of them will have audited consistent positive results over time.

Not for nothing, you'll also find that the vast majority of finance professionals have some intellectual horsepower behind them.

You can come to your own conclusions on which group a retail trader is best served emulating.

I certainly do not want to emulate LTCM, Nobel prize or no Nobel prize.

We certainly hope that IQ and smarts are not major deciding factors of trading successes. I for one worked my tail off hoping hard work and determination would compensate for lack of training and smart.

 

[Sig]

I certainly do not want to emulate LTCM, Nobel prize or no Nobel prize.

We certainly hope that IQ and smarts are not major deciding factors of trading successes. I for one worked my tail off hoping hard work and determination would compensate for lack of training and smart.

For every one LTCM there are millions of failed "knack" traders. Again, you choose the odds.

You specifically though are working hard to learn which I classify as an intellect bucket versus the "knack" bucket. Less about super high IQ then about willingness to learn and accept that smart people have done a ton of work already that's far easier for us to learn than it was for them to discover. And yes, LTCM shows that sheer IQ doesn't guarantee success either, but this is a statistics game and the best you can do is stack the odds in your favor.

 

[ironchef]

Less about super high IQ then about willingness to learn and accept that smart people have done a ton of work already that's far easier for us to learn than it was for them to discover.

. Thank you.

If I succeed, it is because I stand on the shoulders of giants.

Best wishes to you.

 

[Zodiac4u]

. Thank you.

If I succeed, it is because I stand on the shoulders of giants.

Best wishes to you.

 

[nooby_mcnoob]

This is the BEST FUCKING MOVIE.

 

[newwurldmn]

And yes, LTCM shows that sheer IQ doesn't guarantee success either, but this is a statistics game and the best you can do is stack the odds in your favor.

Lots of qualities for success.

Hubris is not one of them.

 

[ironchef]

What one man can do, another can do

Good quote on someone's high school yearbook but not for someone near the end of their career.