Trading is for dumb people

Quote from trendmomentum:

Yes sure, that's why RSI & MACD where thought out by seriously dumb people, to be used by even dumber people. I wonder how you even managed to turn the PC on to write this shit! LOL
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Don't tell me the dumb class is taking home more money than you do einstein1. You not so dumb gals, what excatly is your meat with my statement or is it above your intelligence LOL (i m kidding here, cos' u have none!)to understand that the same capabilities that makes us (the really intelligent ones!) successful in other spheres of life nessarily, does not apply to trading. maybe not having that understanding is why so many fail. U cannot flash your degrees, thesis, ceo'ness, inteliigence, stupidity, rights or wrongs at trading. it is going to whipped your ass.

you tell me what criteria is needed to apply for a trading life, and compare that with trying to climb the corporate ladder with any company. Beta b dumd in this respect and make money than to have everyone believe trading is the hardest thing in life there is.:eek:
 
Quote from Africatrader:
...cannot be approach with a intelligent, or scientific mindset. The simpler you keep your analysis, the better you do
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Wrong. Simple is better in most cases, but the one doesn't follow the other.

Engineers and scientists CAN develop solid and profitable trading systems/methods. The failure rate is no better, or worse, than the generally accepted high rate IMHO.

Not every engineer's background is just pocket protecting, tape-on-glasses geekdom. Some out there have real world trading and Vegas money management experience (only on beatable games, of course).

Good trading to all. :cool:
 
Quote from Wayne Gibbous:

Wrong. Simple is better in most cases, but the one doesn't follow the other.

Engineers and scientists CAN develop solid and profitable trading systems/methods. The failure rate is no better, or worse, than the generally accepted high rate IMHO.
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U are right I must have said CANNOT ALWAYS! thanks for the correction Wayne:)
 
Quote from Wayne Gibbous:

Wrong. Simple is better in most cases, but the one doesn't follow the other.

Engineers and scientists CAN develop solid and profitable trading systems/methods. The failure rate is no better, or worse, than the generally accepted high rate IMHO.

Not every engineer's background is just pocket protecting, tape-on-glasses geekdom. Some out there have real world trading and Vegas money management experience (only on beatable games, of course).

Good trading to all. :cool:
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An interesting statement Wayne.

I once almost took a course from a guy who is highly recommended in Andrews Babson circles and he wanted to know my prior profession. His concern was that, in his training experience three groups were more likely to fail than others. One was engineers and another accountants. He thought that it was because they were used to working in situations where you could be right (completely right) and were rewarded for being right. This made semi-discretionary trading difficult for them.

So my suspicion is that he was right when I recall how invested in being "right" some of the young engineers who worked for me were. As a former engineer I think it also caused me difficulty and suspect that engineers should generally stick to fully mechanical strategies to overcome that issue.

Then your analytical skills can shine while some of your trained/born characteristics wouldn't damage your effectiveness. On the other hand perhaps engineers simply are not dumb enough :)


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Glad to meet you Africatrader.

One of the main problems with humans, more than most realize, I am sure, is the belief that the correct answer has to be complicated. Many people, shown the correct viewpoint to something, will immediately insist it is too simple and ignore it, attack the presenter, etc. It is true in trading and all areas of life.

There are profitable trading solutions that are much simpler than yours BTW!! I saw a seminar by a pit trader. He had a system that involved only 3 bars of data with the noise from the pit mixed in of course and i have heard mention of 2 bar systems! The guys in the pits have to have simple solutions, they don't have all day to stare at a computer and play Einstein :D
 
Great for you AFRICA. If it is easy, then you surely understand its enormous profit potential. Therefore, we suspect that you will quickly rocket your way to being one of the wealthiest people in the world.

By the way, when you truly start to understand the subject, i promise, your tone WILL change.

Saying trading is easy is like saying understanding the human brian is easy...they are the same. but trading is harder, it isnt ONE brain it is millions.
 
Trading IS easy in that it (1) can be done and mastered without a formal education; (2) basically boils down to betting on numbers; (3) there are few barriers to opening an account; (4) a person can have a full-time job/career outside of trading and still be a successful trader.

Jesse Livermore started the tradition of comparing trading to being a doctor/surgeon (you cannot expect to learn how to trade in a weekend just like you cannot learn to be a doctor in a weekend either). Well, it is much easier to become a trader than to become a doctor. Doctors generally earn something close to a consistent income, and traders hope for something consistent (but the markets often do not oblige).

SUCCESSFUL trading IS difficult in that (1) the markets are open systems, so the game cannot be mastered as if it were blackjack; (2) requires emotional discipline, which few have; (3) requires a willingness to lose lots of money, make many mistakes, and loses a lot of time; (4) requires betting on future events, and there is no way of knowing the future; (5) add ten or twenty more reasons why trading is often difficult, since I don't have the time to waste.

If trading were easy, just about everyone who traded would be rich, and just about everyone would be trading.
 
It is fairly evident that Africatrader is a new alias for an existing ET member. The only question is who. Kindly refer to the usual suspects. Anyone care to guess?
 
gentlemen how do you explain that some1 can make consistent profit from "dumb indicators" with a very high success rate. maybe there is something about trading I do not understand. I think it all really changes 4 me the moment I realise there ought to be a way this can be fun! at first I approah this with a scientific and analytical mind, and boy did it whip my ass!

now thinks are beta. not perfect and there is plenty of room for failure, but why fix a system which is not broken.

I want to conclude this whole thing, but saying trading has been started by mankind and will be conquered by mankind!
 
Quote from Africatrader:



I want to conclude this whole thing, but saying trading has been started by mankind and will be conquered by mankind!
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There are lots of things that were created my mankind that will probably NEVER be conquered my mankind. my top three are:

1. Religion
2. Golf
3. Trading

you just cant get it right all the time...there are always problems, conflict and imperfections.

to say trading is easy would be to say that these things are easy becuse on the surface they are not complex

1. Chess
2. Poker
3. Backgammon

the rules are easy, but the human mind makes them complex.
 
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