In my idea, the problem with america is...

Quote from donnap:

Yes, not very good responses. Hmmm. It's pretty obvious that Americans overconsume.

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The nation had a NEGATIVE savings rate for the entire year of 2005. And people wonder why we have the Fed around to facilitate capital formation, investment, jobs, economic growth, etc.

This is nothing new.
Americans have always been BIG consumers. But this latest ET "epiphany" certainly doesn't have anything to do with the TRADING FORUM.

P.S. The amount of spelling and grammatical errors on this thread by so-called Americans is certainly a very poor reflection of our Education system.

:(
 
Quote from gnome:

We could solve a LOT of problems if we just culled everyone with an IQ of under 135, or so.
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At the very least it would make reading ET a more fruitful exercise :D
 
Quote from gnome:

We could solve a LOT of problems if we just culled everyone with an IQ of under, say 135.
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is it harder to trade against 135 than 100 IQ?

IQ must correlate positively with trading ability to some extend. But I would not be surprised if high IQ is an impediment to trading. Does anybody have personal observations to share as far as IQ and trading ability?
 
Quote from PohPoh:

America is cool and all..
but what's the necessity of calling out "AMERICA IS THE GREATEST COUNTRY IN THE WORLD"..
why can't it just be the greatest for you...?

While individual Americans are surely very very very smart, the average Americans IS obscenely dumb...take a look at the education system in this country and it's stupifying downward trend..
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Which has everything to do with the lack of parenting, and nothing to do with the teachers.
Last I checked, Libraries are still free, and open to the public.
 
Quote from Maverickz:

Education is indeed a large part of the economic problem in the US. For years I have been saying that one very important class is missing from the curriculum in US schools. A class on proper use of credit. So many people graduate high school and even college, already in debt and not a clue in the world how to properly use it, manage it, and get it to work in your favor. I'd be willing to wager 90% or more people have no idea what their beacon score is or what they can do to raise it.

Giving credit to people who don't understand it is about like giving a loaded gun to a 4yr old...some of them WILL shoot themselves with it.
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I agree with your statement about teaching financial responsibility, but that won't happen under the current system. It's in the Fed's best interest to keep America in debt, it's called control. Why do we allow a private bank control our country? I would recommend anyone read The Creature from Jeykyl Island.
 
Quote from shortie:

is it harder to trade against 135 than 100 IQ?

IQ must correlate positively with trading ability to some extend. But I would not be surprised if high IQ is an impediment to trading. Does anybody have personal observations to share as far as IQ and trading ability?
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There are some famous, smart guys who have blown up.

Interestingly, high intelligence isn't a necessary* quality for success in trading.

* Neither is a lobotomy, but I could see where it might help.
 
Quote from shortie:

is it harder to trade against 135 than 100 IQ?

IQ must correlate positively with trading ability to some extend. But I would not be surprised if high IQ is an impediment to trading. Does anybody have personal observations to share as far as IQ and trading ability?
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Really I'd imagine that the correlation between IQ and trading ability if graphed out might look like the P/L chart on a double diagonal options graph. For those that don't know what that is imagine an arch where the middle of the arch is in the profit zone and the extremes are in the loss range. Anyway the way I see it, if your IQ is too low you won't be able to grasp the concepts and the rules required to trade successfully. If your IQ is too high you might over-think the trade and miss it or get a superiority complex and blow your account thinking you are smarter than the market.

The qualities of a successful trader are not so much being smart, it's what I call the 4 D's of trading.

Decisiveness - to pull the trigger when the right conditions for entry are met without over-thinking.

Disciplined - to enter and exit according to your plan without deviation.

Detailed - Detailed understanding of your plan and how to make it work.

Determination - to keep pushing forward in the face of a loss, time constraints, or other factors that can be detrimental to your trading.
 
Makes sense to me Maverick, personally (not asserting that I'm a genious here) I find that quite often I overthink myself right out of a profit.
 
Quote from PohPoh:

While individual Americans are surely very very very smart, the average Americans IS obscenely dumb

Well, you are, at least...

...take a look at the education system in this country and it's stupifying downward trend.. [/B]
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That must be why so many foreigners try to get into American Universities.

And after all, you see so many Americans trying to get into the Philippines, China and India to get jobs.

Whoops! The other way around...
 
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