You don't need to be exceptionally smart to make money with stocks.
Superior intellect - is that enough?
- Thread starter LeonPhelps
- Start date
Quote from Brian Monieson big Chicago trader
"I have a PHd in maths and a background in cybernetics but I was able to overcome those disadvantages and make money" (Come into my Trading Room: Alexander Elder)
BTW why take all those tests, just to feel superior? Do good results get you laid these days if you tell them to chicks? Do you carry around the results in your wallet to show people? Who really cares the market wont.
Cheers
Well, shit, what a diversity of responses.
For the record, I ain't BSing. And stating facts is not arrogant. No head in clouds or superiority compex here. So chill out, those who think I am dissing them.
Personally, I think a certain level of intellect is a prerequisite to any success in life including trading. UNLESS you are "a natural". This mainly applies to sports but there are other endeavors that also could fall in this category.
Self awareness is another trait that is indispensible. No one in infallable. Know your limitations. Pride may be one of them. LTCM was a glaring example.
My trading results? Moderately successful. I find mechanical backtested strategies work better than discretionary for me. The latter is too subjective. I think there are less "Naturals" in trading than professional sports. Matter of fact, I'm not sure there is such a thing in trading. Just the lucky few. See Taleb.
I do wish I could devote more time to trading- it is challenging and can be rewarding. And very frustrating IF you don't realize that screwing the pooch now and again is part of the game. Risk management is the Key. And diversification. And not too much leveage.. Live for the next trade. Now I sound like an info-mercial, yet all true nonetheless.
I am in a profession that pays too well to give up for trading. No complaints; am very thankful for opportunities I have been given. But I've got the trading itch. Not to get rich. To beat the system. The challenge. Trying to transition but is difficult. I barter sleep for time to research and trade/invest. Difficult with a family. All in moderation. But I'm sure I speak for a lot of us.
For the record, I ain't BSing. And stating facts is not arrogant. No head in clouds or superiority compex here. So chill out, those who think I am dissing them.
Personally, I think a certain level of intellect is a prerequisite to any success in life including trading. UNLESS you are "a natural". This mainly applies to sports but there are other endeavors that also could fall in this category.
Self awareness is another trait that is indispensible. No one in infallable. Know your limitations. Pride may be one of them. LTCM was a glaring example.
My trading results? Moderately successful. I find mechanical backtested strategies work better than discretionary for me. The latter is too subjective. I think there are less "Naturals" in trading than professional sports. Matter of fact, I'm not sure there is such a thing in trading. Just the lucky few. See Taleb.
I do wish I could devote more time to trading- it is challenging and can be rewarding. And very frustrating IF you don't realize that screwing the pooch now and again is part of the game. Risk management is the Key. And diversification. And not too much leveage.. Live for the next trade. Now I sound like an info-mercial, yet all true nonetheless.
I am in a profession that pays too well to give up for trading. No complaints; am very thankful for opportunities I have been given. But I've got the trading itch. Not to get rich. To beat the system. The challenge. Trying to transition but is difficult. I barter sleep for time to research and trade/invest. Difficult with a family. All in moderation. But I'm sure I speak for a lot of us.
You're showing some real stupidity by using something so redundant as SAT and standarnized test scores to judge your level of intelligence. So you are already showing a big flaw thinking that you're smarter than you really are.
As for IQ tests, it is questionable just what exactly do they measure. I've met some high IQs who often show some real serious lack of common sense.
By the way, did you know Jessica Simpson has a very high IQ. Ponder on that one for a while.
Means little in the markets when it comes to discretionary short term trading.
P.S. Seriously, trying to peg your intelligence on SAT scores? It's remedial math and vocabulary knowledge, all of it can be memorized.