Minimum requirements on the back of the BOX

[sida]

just like at the back of software box you see minimum requirements


so too in trading there are minimum requirements


1. extreme interest in market
2. IQ over 130
3. knowledge of basic statistics and math
4. 2-10 years to spare


and printed with tiny font at the back also
(if mentor present no requirements needed)

PS: I am not joking, I really think these are requirements

 

[Pekelo]

High IQ is a disadvantage, because:

1. After a while, trading is BORING or it should be.

2. Very smart people don't like to/can't admit that they are wrong.

I bet smarter people have a higher % of blowups, than average Joes...

 

[sida]

Quote from Pekelo:

High IQ is a disadvantage, because:

1. After a while, trading is BORING or it should be.

2. Very smart people don't like to/can't admit that they are wrong.

I bet smarter people have a higher % of blowups, than average Joes...

I disagree, high IQ is very important, without it a person has NO CHANCE competing with other traders in futures

 

[traderTX]

do you have to be smart? yes and no....you have to be "market smart", but that has absolutely NOTHING to do with being "book smart"...ala...a high IQ. I for instance, only went to college one year, then dropped out because it just didn't spark any interest or desire....the markets on the other hand gave me the challenge that I craved and could feed off of.

 

[Redneck]

The 3 requirements

Trader (with the right mind set - KISS)
Tools (KISS)
The system / approach / method (KISS)

Neither more – or less, – important than the other…., but all intimately dependent on each other for success


High IQ not required..., Common sense is a must


Regards

RN

 

[southbeach4me]

Sida, its obvious that you are one of those "wannabee" traders that can't trade for shit, so you try to knock other down to make ur self feel better. My advice to you...GO SEE A THERAPIST.

I know pro traders(friends of mine) who are avg or just above avg in IQ, but none are over 120. One of them( a woman) who trades here in Miami for a local hedge fund is the TOP trader over there at the firm, making just over $3.2 million last yr. And she was always just an "above avg" student all her life, IQ of 112.
She trades nat. gas futures.

Your assumptions about needing at IQ of 130 to be a top trader show what an ignorant donkey ass you are.

 

[Pekelo]

Quote from sida:

I disagree, high IQ is very important, without it a person has NO CHANCE competing with other traders in futures

A mechanical system can be taught to a simpleton. As long as he follows the rules of the system, he will be fine. No special brainpower needed....

 

[Thunderdog]

Quote from Pekelo:

A mechanical system can be taught to a simpleton. As long as he follows the rules of the system, he will be fine. No special brainpower needed....

And who will bestow this turnkey mechanical system upon the simpleton in question?

 

[Eight]

Quote from Pekelo:

A mechanical system can be taught to a simpleton. As long as he follows the rules of the system, he will be fine. No special brainpower needed....

Yahhh but nobody teaches systems.. they discover them then go to GREAT LENGTHS to keep them secret...

The 130 IQ requirement is too high, everything else in the OP's statement seems right on the money... the average Nobel Prize winner has an IQ of 115-120... they just put in the time typically, just put in the time... if somebody was really brilliant in the sense that they used Occam's Razor every day of their life they could become profitable very much faster than the typical trader... I'm not like that, I know that in the end I'm going to find a solution that is simple but I enjoy researching every single thing and aspect of things.. I have some unbelievable stuff that displays patterns relating volume, accum /distribution and price.. and it's not quite reliable enough to trade with... I have an unbelievable combo of statistics and momentum indicators.. that is not quite reliable enough to be fun to trade.. and I have an extremely simple thing that occurs all day every day that I picked up from a video by a floor trader that I'm automating..... I knew about that years ago and I just could not quit researching stuff and code it up and run it all day... just couldn't stop the research to go to production.. it's nuts.. I admit it.. my IQ is above that Nobel Prize level and below the level of the really smart ones that go directly to the simple and wonderful conclusions [160 and up]... I used to go to Mensa parties because I was a member.. lots of them were in the same boat as I... one guy was a porn writer with wine sores... lots of them "never got to production" with anything... otoh, some were big names in their industries too... it's probably more about the psychological health than pattern recognition...

 

[Thunderdog]

Quote from Eight:

...the average Nobel Prize winner has an IQ of 115-120...

...I have some unbelievable stuff that displays patterns relating volume, accum /distribution and price.. and it's not quite reliable enough to trade with...

...I have an unbelievable combo of statistics and momentum indicators.. that is not quite reliable enough to be fun to trade...

Are you in comedy?