But the problem is that 90% think they are unique.
The odds of day trading yourself to a profit are lower than you expect"
- Thread starter lawrence-lugar
- Start date
But the problem is that 90% think they are unique.
sure, but what they think in reality does not matter what matter is what they are
so this is the statistics about the odds of finding uniqueness in the sea of mediocrities
He had to die before there was money made.
I hope I will no have to do the same.
Do 1 profitable trade, die and then the next generation will live wealthy with my tradingsystem...
sure, but what they think in reality does not matter what matter is what they are
so this is the statistics about the odds of finding uniqueness in the sea of mediocrities
all this statistics in reality should be boiled down to the simple, like a cucumber, conclusion: the multiplication of money in the stock market - it is an enterprise so specific and unique in its requirements to "persons involved" that can be dealt with (successfully) only by very special "players", i.e. people with specific, "baked" by the nature brain, will, intuition and diligence.
The fact is that even without explanation it is obvious that a girl of 16 years with a 200 pounds weight will not be a ballet dancer, regardless how much she likes ballet, and no matter how many did she hire ballet coaches. The fact that not all will be able to increase the capital on the market, did not initially obvious, and even the opposite - emotionally crushed by glitter examples of very few and efforts by the financial industry to attract suckers on the market..
Someone should tell her that girl - you first need to pass the weigh-in, and only then , perhaps, to take lessons and other pas-de-deux...
Many years ago i posted a list of criterias how a wannabe-trader should be weight-in before he would consider to enter the fray.
lest see if i can find it.
And that's how a wannabe trader (the man who is going to live from trading his own money) should be weight-in, :
A. Money. There is a trading minimum of $50k in account plus the money needed to live all the time while learning....do not have it - not suitable.
B. Time. There is required minimum 5 years (probably more) of life, during which you will only deal with self-learning of trading for 8-10 hours a day.. do not have time - not suitable.
C. The necessary qualities from highest to lowest.
1 Maverick
2 Egomaniac
3 I don't give a fuck" kinda guy
4 Do not like and do not want to work with people
5. One who can and like to take risks.
6 Unchanging, constant belief in yourself and in your own strength (screams "Help me!" like I sometimes see on the forums should not come from you)
7. recognize in principle the concept of game as a lifestyle , with consequent results of instability, loss or collapse
8. thinking outside of the box and the ability to independently search for the solutions
9 ability and desire to go his own way and not focus on the words and opinions of others
10 ability to create intuitive concepts based on the lessons learned
11 ability to visualization and abstraction from it .
12 diligence
13 will,volition
If one would sift all the samples that was taken for that statistics through the sieve of those parameters, i suspect about 90% would be disqualified
A. Money. There is a trading minimum of $50k in account plus the money needed to live all the time while learning....do not have it - not suitable.
B. Time. There is required minimum 5 years (probably more) of life, during which you will only deal with self-learning of trading for 8-10 hours a day.. do not have time - not suitable.
C. The necessary qualities from highest to lowest.
1 Maverick
2 Egomaniac
3 I don't give a fuck" kinda guy
4 Do not like and do not want to work with people
5. One who can and like to take risks.
6 Unchanging, constant belief in yourself and in your own strength (screams "Help me!" like I sometimes see on the forums should not come from you)
7. recognize in principle the concept of game as a lifestyle , with consequent results of instability, loss or collapse
8. thinking outside of the box and the ability to independently search for the solutions
9 ability and desire to go his own way and not focus on the words and opinions of others
10 ability to create intuitive concepts based on the lessons learned
11 ability to visualization and abstraction from it .
12 diligence
13 will,volition
If one would sift all the samples that was taken for that statistics through the sieve of those parameters, i suspect about 90% would be disqualified
My father (who is in the industry) started teaching me when I was 13/14, but didn't let me have a real-money account until I was 18.
But there's a (quite recent) thread here, somewhere, about someone teaching his much younger son to trade.