Quote from tmarket:
I hope you guys are better at trading than your professed knowledge of science.
I don't, but that's a more interesting topic.
Does a science-averse authoritarian personality have a better or worse chance of succeeding at trading? Originally I felt that the better trader would be a more enlightened personality type, but over the years I changed that assessment to reflect that many of the entrepreneurs I've met have been this exact personality type -- fearful, authoritarian, science-averse.
Many of these folks are using MA's, bollinger bands and the like, but with good money management, and making money trading. I believe it's because their assurance that they're right in all things (even with insufficient data) makes them more likely to dive in and either succeed or fail, and the remaining successful ones remain.
A logical personality looks up the data at NASA and other primary sources and can see the monthly annual global measurements. However while the logical personality is busy researching and learning, the authoritarian personality has already made up their minds and are moving on to other things. Some might even argue that this is more efficient and faster -- certainly gets them to the finish line sooner of either financial failure or success.
What other explanation can there be for people still using Fibonacci numbers and Elliot Waves and other garbage, yet successfully making money?