Trading can be learned alone?

"You have A LOT to learn from this field. It will teach you to think on your feet."

So would martial arts, and that would teach you discipline as well.


So, when @imjohn wrote "I had degrees in economics and accounting...But I don't think what I learned in university, or what I did in my prior profession, was essential learning for a trader." You agreed.

How does this reconcile with "I say it again - resist trading live all together until you earn level 3." ???????


"I would like to disagree once again with Wheezooo I am afraid regarding his stark views of economics"

Yeah, yeah... knew that was coming, If my personality were different, I'd probably try to justify wasting 5 years of my life as well...but it's not just me... I love the following quote because it comes from Paul Romer, the Nobel Prize winner. And it ain't like he's dealin with the low level schmucks. Nope, he's referencing the most highly educated of schmucks. I used it to close a chapter of a book I am writing.

“I've never in my professional life encountered professional economists who say so many things that are easy to check and turn out not to be true,”… “Imagine a field of science in which people publish research papers with data that are obviously fabricated. “When someone points this out, the Internal Justice Bureau steps in [and] says that the concerns do not meet the burden of proof required for them to take action. Nothing happens. So in this equilibrium, it is perfectly rational to fake the data without even bothering to hide what is going on.”… “There is no way to bootstrap this field back to a state in which people put effort into maintaining a reputation as someone who is a source of reliable information. Once no one cares about reputation, why should anyone invest in reputation? As a general matter, I’m not sure about how to escape from this kind of equilibrium.”

-It is a field now entirely corrupted by the environment in which it must exist. Academia. PC academia.
 
Wheezooo said:
"You have A LOT to learn from this field. It will teach you to think on your feet."

So would martial arts, and that would teach you discipline as well.


So, when @imjohn wrote "I had degrees in economics and accounting...But I don't think what I learned in university, or what I did in my prior profession, was essential learning for a trader." You agreed.

How does this reconcile with "I say it again - resist trading live all together until you earn level 3." ???????


"I would like to disagree once again with Wheezooo I am afraid regarding his stark views of economics"

Yeah, yeah... knew that was coming, If my personality were different, I'd probably try to justify wasting 5 years of my life as well...but it's not just me... I love the following quote because it comes from Paul Romer, the Nobel Prize winner. And it ain't like he's dealin with the low level schmucks. Nope, he's referencing the most highly educated of schmucks. I used it to close a chapter of a book I am writing.

“I've never in my professional life encountered professional economists who say so many things that are easy to check and turn out not to be true,”… “Imagine a field of science in which people publish research papers with data that are obviously fabricated. “When someone points this out, the Internal Justice Bureau steps in [and] says that the concerns do not meet the burden of proof required for them to take action. Nothing happens. So in this equilibrium, it is perfectly rational to fake the data without even bothering to hide what is going on.”… “There is no way to bootstrap this field back to a state in which people put effort into maintaining a reputation as someone who is a source of reliable information. Once no one cares about reputation, why should anyone invest in reputation? As a general matter, I’m not sure about how to escape from this kind of equilibrium.”

-It is a field now entirely corrupted by the environment in which it must exist. Academia. PC academia.
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Interesting. Why do you think your uni years were wasted? With hindsight, what other degree would you have pursued?
 
"Why do you think your uni years were wasted?"

They weren't. Those were the most memorable and best years of my life. @imjohn said it perfectly... "Time is on your side. Of course, focus on your studies. But just as important, make as many genuine friends and connections as you can. Enjoy your youth as it's a one-time deal, and if done right, that experience can be worth more than any $ amount you'll make from your future profession."

+1,000 for that ^ comment!

I majored in Finance. Found it quite beneficial throughout my career. Accounting as well. Econ though... no need to repeat myself.

Funny thing is, I credit my sneaking into Casinos when I was sixteen for learning more than I did in any of the above. That was when I decided I want to be the house, and provided me my first lessons in human behavior and gambling. Silly adults screaming at dice... thou shall be my prey.
 
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imjohn said:
Jfranco,

As for learning trading, I didn't get started until beyond 30. By then I had degrees in economics and accounting, followed by a decade of experience in a highly-analytical field. I jumped right into trading, and after a period of initial luck, I became a consistent loser. I then began to take trading seriously, and a couple years later figured out some things that work for me.

I'm certain that all prior experiences shaped who I am, and how I developed my trading. But I don't think what I learned in university, or what I did in my prior profession, was essential learning for a trader.

----
Now, a suggestion to you, you're a teenager about to begin University. Time is on your side. Of course, focus on your studies. But just as important, make as many genuine friends and connections as you can. Enjoy your youth as it's a one-time deal, and if done right, that experience can be worth more than any $ amount you'll make from your future profession. You've professed interest in trading from a young age, so continue to study price behavior and test your ideas. The markets aren't going anywhere and if you're persistent then in due time, you'll learn enough to be ready. Even if you have to learn alone.
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Well said. Qualifies for the best advice in this forum.
 
Jfranco_2003 said:
Hi, do you think that someone can learn trading by himself? Needs only books?
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Short answer: Yes. Read lot of books, not to find trading recipes but to understand the basics of market, how it works, how are things priced, who are the players. From that you develop your own method that fits you and only you. Most will never find it but for some, the path to profit is getting off the beaten paths and find a path few has travelled. :)

Good luck.
 
imjohn said:
Enjoy your youth as it's a one-time deal, and if done right, that experience can be worth more than any $ amount you'll make from your future profession
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Thanks you, and yes I'm enjoying my youth a lot jajaja (Only waiting for out of Venezuela to Colombia the next year:banghead::banghead:).
imjohn said:
You've professed interest in trading from a young age
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Yes I had my first forex account when I was 14:D:D jajajajajaj a lot of lucky and obviously 0 knowledge of anything.
 
Wheezooo said:
@Jfranco_2003

...Econ is garbage espoused by a bunch of non-practitioner pundits. .... Nowadays it's just getting worse. Everything must be PC garbage.
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"The Nobel Prize in economics was awarded Monday to a trio of U.S.-based economists—including a married couple—for their “experimental approach to alleviating global poverty.”

What a surprise. And bonus points for checking off the female and minority boxes. Only a shame that the two guys weren't the married couple, that would have guaranteed them next years prize as well.
 
Wheezooo said:
"The Nobel Prize in economics was awarded Monday to a trio of U.S.-based economists—including a married couple—for their “experimental approach to alleviating global poverty.”

What a surprise. And bonus points for checking off the female and minority boxes. Only a shame that the two guys weren't the married couple, that would have guaranteed them next years prize as well.
More...

That's quite offensive actually on many levels.
 
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