How does anyone do this?

Quote from bubba7:


Clueless needs to learn first and foremost when not to be trading. No one is allowed to trade when they do not know what is going on. If you are doubling your money in less than eight months you can trade all the time.
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I couldn't agree more...you've got to know when NOT to be trading, especially in the current narrow-range, choppy, head-fakey market conditions we've been seeing lately. I spend over 90% of each trading day doing nothing, just watching.

When something real happens you will know it. I know that sounds rather nebulous, but it is what you have to do.

Clueless, feel free to PM me any time and I'll try to help you out if I can.

PEG LEG JOE
 
Quote from peg_leg_joe:



Oh, I forgot to mention that I scored 140 without even finishing the test (I had mine administered by a psychologist). It was boring the crap out of me and I just got up and left before the examination was over...true story......

PEG LEG JOE
:D :D :D
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I scored a billion gazillion cajillion points in the first 5 minutes, at which point I was feeling ill and hate to go to the bathroom. My diarrhea was so bad I didn't make it back before the end of the test. I was offered a job by NASA and the Math Institute at the U of Paris, among others, but my criminal record is holding things up. After a little counseling from this Vietnam Vet psychologist (recommended to me by a prof buddy of mine at MIT), I think I will start doing that whole enlightened thing. :)
 
Quote from rs7:



John F. Kennedy had tested 119. So everyone on ET is smarter than the guy who figured out how to avoid an imminent nuclear war. His entire cabinet looked up to him and respected his intelligence.

Those of you who can remember JFK and how he improvised during his press conferences and how he buried Nixon in the debates know this was a brilliant guy.

So put the numbers where they belong. In the "basically worthless" folder of life.

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Actually, the good majority of people who listened to the debate over the radio believed that Nixon won the debates (while people watching tv, and seeing an ill Nixon's shifty eyes vs. a handsome, make-up wearing Kennedy, though Kennedy won).

But I generally agree with your suggestions as to what to do with these numbers.
 
Survey Consensus Fact:
95% (or thereabouts) of people who try this game will breakeven AT BEST...

And a huge proportion of these people have been highly successful in other areas of their life, and have a good dose of intelligence...

Why can't more people make it? It has to do with chinks, chinks which could occur anywhere... chinks that may not at all be obvious...

Space Shuttle Columbia was in 99.9% great working condition, and yet it still blew up...

It is my contention that traders can have all aspects of their trading (set-ups, entries, exits, discipline, psychology, technology, costs) in great working order, but they can still blow up (or slow bleed or breakeven), because of but one chink in their armor... a chink that they have not removed cos they think it is insignificant or a chink that they have as yet not identified...

This game takes no prisoners, and will inevitably catch up with punish the persistence of even a minor chink in any corner of one's armory... this game has many people with (for practical purposes) chinkless armory who will continue to profit from those whose armory looks perfect but is deficient in but one minor respect... the former group are the 5%, the latter group are the breakeven traders, and the remaining majority are the consistent losers...

My view on this is that all too often the answer lies within... what I mean by this is that the breakeven or losing trader wrongly identifies a chink as a strength... this increases the odds that the chink will never be found, because the trader will not be likely to venture into the area of his perceived strengths looking for chinks...
 
Quote from bubba7:

these people need to learn how to exit each and every trade they enter and not loose money doing it.
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You don't mean that you can exit every trade without losing money, do you? No one can guarantee that.

g
 
Quote from candletrader:

Survey Consensus Fact:
95% (or thereabouts) of people who try this game will breakeven AT BEST...

And a huge proportion of these people have been highly successful in other areas of their life, and have a good dose of intelligence...

Why can't more people make it? It has to do with chinks, chinks which could occur anywhere... chinks that may not at all be obvious...

Space Shuttle Columbia was in 99.9% great working condition, and yet it still blew up...

It is my contention that traders can have all aspects of their trading (set-ups, entries, exits, discipline, psychology, technology, costs) in great working order, but they can still blow up (or slow bleed or breakeven), because of but one chink in their armor... a chink that they have not removed cos they think it is insignificant or a chink that they have as yet not identified...

This game takes no prisoners, and will inevitably catch up with punish the persistence of even a minor chink in any corner of one's armory... this game has many people with (for practical purposes) chinkless armory who will continue to profit from those whose armory looks perfect but is deficient in but one minor respect... the former group are the 5%, the latter group are the breakeven traders, and the remaining majority are the consistent losers...

My view on this is that all too often the answer lies within... what I mean by this is that the breakeven or losing trader wrongly identifies a chink as a strength... this increases the odds that the chink will never be found, because the trader will not be likely to venture into the area of his perceived strengths looking for chinks...
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lmao... anyone else reading this as CHINK!? (ie: derrogatory term for chinese ppl) lol... lmao... hahahah... at first i was like man this is some racist ish, than realised what candle meant... lol
 
Quote from rs7:

IQ Tests.....

One of the most misunderstood and meaningless tests of all.

My first wife administered them. From what she explained to me is that a test result is hardly worth much other than to put you in a category. I forget the definitions, but Idiot, Imbecile, Moron, and Genius are real terms. So next time you call an Idiot a Moron....well you can have it all wrong.

As far as the numbers....anyone who takes an IQ test will score in a fairly wide range on any given day. But a genius will still be a genius, etc. So if you score a 120, you may score a 140 or a 110 the next day.

Alice...a 170? You should be solving the Shuttle problems.

John F. Kennedy had tested 119. So everyone on ET is smarter than the guy who figured out how to avoid an imminent nuclear war. His entire cabinet looked up to him and respected his intelligence.

Those of you who can remember JFK and how he improvised during his press conferences and how he buried Nixon in the debates know this was a brilliant guy.

So put the numbers where they belong. In the "basically worthless" folder of life.

Like my wife did. She administered the tests to kids with learning disabilities. That at least served some purpose. Did the kids have emotional problems? Birth defects? Where they abused? Developmentally delayed? This served a purpose. But a very limited one. She did Rorschach and all the other tests. IQ was just a little piece of a big puzzle. She thought the least valuable of them all.

SAT's serve a purpose. But still they are not a perfect indicator of how one will do in college. Same for LSAT and the others. But the fact is that MIT will take a kid that scores 1600 on his boards. Alice may have a 170 IQ, but unless she shows what she can do with it, it's as worthless as a post by Thunderbolt.

Peace,
:)rs7
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I must be the resident dumb ass. I have an IQ of 105 and got a 22 on my ACT :eek:

Brandon
 
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