Superior trader, a born talent or can be taught?

[martys]

Definitely there are natural born talents... someone who happened to have his skillsets developed all his life lined up for a task. I remember one of my college buddies who used to come up with such clean and elegant software code in solving a problem. I considered him a natural talent in software programming. In my case, I have to work hard in developing both the skill and passion and occassionally I can knock few of those natural talents down.
I also know a friend who is a genius in mathematics and physics during college. This guy used to say "Practice makes perfect." This reminds me of reading a book call "Exceptional Brain." One of the chapters mentioned a group of physics students make a quantum leap in their problem solving ability by practicing more. So if you know what needs to be focused and practiced on, then you can further develop such required skill sets.
So I think if you have one or the other, you will survive (in a good way). If you have both, you will be a star. If you have none then the luck will run out and don't know what hits you.

 

[archimedes]

Quote from nitro:

The closest analogy to being able to trade great is to be able to hit a curve ball. Very few great hitters if any are incapable of hitting a curve ball; otherwise the word gets out and pitchers will strike you out on that pitch consistantly. Thing is, the eye brain combination is not optimized by nature to be able to do this, because little in our everday experience for survival requires recognition of non-linear motion. So those that can do it well are a kind of freak of nature. On the other hand, you can teach anyone to hit a fastball.

Imo the one distinguishing feature of a great trader is knowing when a phase transition has occured, and to know when to bet big at those boundaries. To average traders, all moves look like a "fastball" but in fact the market mostly throws "curveballs". It is the great trader that can tell, within the required time frame, that in fact he was "thrown a fastball and not a curveball" and react with a heavy bet or a light bet accordingly.

nitro

Well said.

In a similar line of thinking, it's been said that there are only three types of trade: breakout, reversion to the mean, and arbitrage (carry trade).

An exceptional trader works hard to develop an innate sense of which 'mode' the market is in, and acts accordingly in real time.

 

[tyrant]

Michael Marcus said :


"I think to be in the upper echelon of successful traders requires an innate skill, a gift. It's just like being a great violinist. But to be a competent trader and make money is a skill you can learn."

 

[TSGannGalt]

Ask yourself if you were taught or rely on talent...

...

Oh wait... no one here is a superior trader, more-so profitable.

Too much "He said, she said" crap. And "I think, I hope"

 

[Lights]

the problem with the eckhardt/dennis debate was that it didn't answer the question of whether anyone could be taught to be a SUPERtrader. he showed that maybe, everyone can learn how to at least attain profitability by trading a system.. also, dennis handpicked his trainees from a questionaire he administered to the application pool. it was not a random selection.

i found that it is difficult to teach extreme contrarian thought, that when everyone is fleeing one should do the opposite. great traders are able to identify this and take it on with courage, a trait which is most likely innate. each individual's emotional profile is his own and is often an obstacle to one's trading journey.

Quote from bitrend:

I don't know. But I have some doubt that it can be taught.

It has been discussed long time ago on this subject between William Eckhardt and Richard Dennis. And many had agreed that Richard Dennis was right supporting an argument that successful trading can be taught over an argument that it has something to do with trader born talent. However, I have some doubt, if it can be taught it mean anybody with an average intelligence can be successful after getting a good training. The following reasons:

1. To form a Turtles group, why need the interviews to select candidates since any one can be taught then just pick by random.
2. Why not all the Turtles are successful since they got the same training and used the same winning system.

Would like to here your opinion?

 

[murray t turtle]

Quote from steve46:

Whitster (and everyone)

My experience is different.

I know some great traders. Every one of them has the whole package. The best office equipment, the best charting package, the best contacts, a winner's attitude, great skills, all of it. Who knows if they have natural ability? It doesn't matter to them or to me. All that matters is they know how to maintain that edge, and they keep on winning.

When things don't go their way, they do whatever it takes to get back on track. They go in to work every day expecting to win.

As regards, the question "born" or "taught" all I know is that my own teacher taught several of them. He never talked about them but I am sure that he was a big part of their success. He was that good at teaching his craft. As I remember it, his motto on this subject was simple.

"Always go first class"

Make of it what you will.


Steve

==============

''Always go first class''


Not minimizing you ''first class quote''
& Rich Dennis had 2 classes of turtles, Curtis''inflector'' Faith said.

Dont remember which class Curtis wrote he was in;
both classes excelled.

 

[Lights]

if all his students are merely copying it.. we've seen how the system became crowded and is no longer as effective.

 

[murray t turtle]

Quote from volente_00:

Anyone can be taught to trade, will they all succeed ? No it comes easier to those with natural talent and certain inert characteristics. . Just like anyone can be taught to hit a baseball, but not everyone will be able to hit 700 home runs in the bigs.

=====================


Like those old moving pictures in black & white that show ''Babe'' Ruth hitting home runs, even though he was somewhat of a strike out king also.

Interesting they auctioned off a old baseball bat of his for what was it 7 figures, recently??

 

[Lights]

the teacher is oftentimes as good as his system.

Quote from murray t turtle:

==============

''Always go first class''


Not minimizing you ''first class quote''
& Rich Dennis had 2 classes of turtles, Curtis''inflector'' Faith said.

Dont remember which class Curtis wrote he was in;
both classes excelled.

 

[Lights]

actually, i read somewhere about how great traders exhibit traits similar to psychotics, but how they are able to discipline themselves and control it. i've heard numerous times when a great trader took on a trade and was thought to be "crazy". it could just be that they have NO FEAR.