Three Pervasive Myths in the Trading World

Yes. Great article.

You can boil it down to one sentence:

90% of the people reading this thread... should stop trading.

It's just like being a pro athlete or Rock Star...
Talent is 99% of the ballgame.
People know they have a great talent in something by age 10...
Because the structure of grade school stratifies children by talent.
You can probably pick out the kids that have the talent to be Pro traders in Grade 5.
 
Quote from HoundDogOne:

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90% of the people reading this thread... should stop trading.
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More...
May I ask, how are you orders going to get filled? Who is going to take the other side?
 
The wannabe trading world is hilarious.

I went to a ET Trader Hookup last summer attended by about 15 people...
And did not meet a single person making a decent living trading.
At least 10 of the people could be certified as "desperate".

I spent part of the evening talking to a mid-40s musician...
Who, in all seriousness, was gonna be a trader.

Let's flip this around.

Could you imagine if HoundDogOne...
Who is in his mid-40s with no musical talent or experience...
Went to a meeting of professional musicians...
And, in all seriousness, expressed plans to become a Pro Musician.

I would be laughed out of the f*cking room.
 
What would you expect to find at an ET hookup or on this board for that matter? I dont think anybody doubts that the huge majority of people here dont make any money trading. How could it be otherwise?
 
That's a good point. You never hear the ball players' association discouraging new players from entering the field. Those in the game just have to adapt/compete if they want to stay in.

Quote from Tums:

May I ask, how are you orders going to get filled? Who is going to take the other side?
More...
 
Honestly houngdog what's your problem? How much money will your ego cost you? Keep quiet and perpetrate that anyone can outsmart the market.
 
The main cause of trading failure is a lack of an objective edge in the marketplace,

CRAP. Do all profitable traders use the same method? THERE IS NO 100% OBJECTIVE EDGE IN THE MARKETS.

My work as a trading psychologist has....

If he is right what the hell "trading psychologist" means???? If he is right what he is saying,basically, "I am a snake-oil salesman too".
Use your brains guys!!!!
 
Talent is 99% of the ballgame.

Ask any expert in any field what they are going to tell you. You are not high-performer in anything I guess, because you would have to know it's a shitload of work+talent
 
Myth #2: Anyone, with dedicated effort, can get to the point of trading for a living. That is nonsense.
Really??? Why this then? (Read what follows)
Across the many traders I’ve met in various settings, from home-based, independent traders to professional ones in firms, the best predictors of trading success have been the size of the trader’s accounts and the resources available to the trader.

Why do you need enough resources? Why is it that enough resources are best indicator of success?

Otherwise, I agree,not anybody can be a trader just like anybody cannot be a president of the U.S.. If you think in absolute terms.

Ph.D. is stupid that's all.
 
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