In trading one may lose not only his time, but also lose money trading his time.
I do not know of any other activity that is similar to trading.
What makes a master trader?
- Thread starter kut2k2
- Start date
In trading one may lose not only his time, but also lose money trading his time.
I do not know of any other activity that is similar to trading.
I believe that could be worthwhile, but I would not publish the book. There is no contradiction in the two.
Quote from Visaria:
Er, I have this and I don't think it has helped me very much in terms of trading, although in no doubt helped me in gaining employment when i first started out. The econometric modelling part is total bs, btw
This response from you doesn't surprise me, given the past responses I've seen refuting similar statements, but as far as that goes, it still doesn't change my answer.
I'd also bet my mathematical techniques are superior and what I use is different, too.
Tell me about the efficient frontier and the filling of the knapsack problem mentioned in another thread?
What is the objective function, what are the constraints?
Thanks, everybody, for all the great feedback. Much tasty food for thought here. 
I am especially drawn to the example of Handle123's father. I think that post nailed it for me. Mastery of a craft is first and foremost about love for the craft IMHO.
Either you bring love in as an apprentice or you develop love for the craft somewhere along the way. Without that love, you may become competent or successful through sheer experience and acquired skill but you will never become a master of the craft.
A master does his best effort even when the boss or the client isn't looking. A master enjoys the work as much as the paycheck it provides.
With trading, ironically, the "paycheck" is the work. Unlike other artisans who carve stones or make furniture or produce other tangible items of value, with traders it is the net profits that usually indicate mastery.
But there's also the skill level. A master trader can be a part-time worker, trading just enough to pay the bills while he or she dedicates the rest of their awake time to other pursuits of love: family, friends, hobbies, volunteer work or another paying job that supplies enjoyment as well.
Please keep the great responses coming.
I am especially drawn to the example of Handle123's father. I think that post nailed it for me. Mastery of a craft is first and foremost about love for the craft IMHO.
Either you bring love in as an apprentice or you develop love for the craft somewhere along the way. Without that love, you may become competent or successful through sheer experience and acquired skill but you will never become a master of the craft.
A master does his best effort even when the boss or the client isn't looking. A master enjoys the work as much as the paycheck it provides.
With trading, ironically, the "paycheck" is the work. Unlike other artisans who carve stones or make furniture or produce other tangible items of value, with traders it is the net profits that usually indicate mastery.
But there's also the skill level. A master trader can be a part-time worker, trading just enough to pay the bills while he or she dedicates the rest of their awake time to other pursuits of love: family, friends, hobbies, volunteer work or another paying job that supplies enjoyment as well.
Please keep the great responses coming.
Quote from kut2k2:
Thanks, everybody, for all the great feedback. Much tasty food for thought here.
I am especially drawn to the example of Handle123's father. I think that post nailed it for me. Mastery of a craft is first and foremost about love for the craft IMHO.
Either you bring love in as an apprentice or you develop love for the craft somewhere along the way. Without that love, you may become competent or successful through sheer experience and acquired skill but you will never become a master of the craft.
A master does his best effort even when the boss or the client isn't looking. A master enjoys the work as much as the paycheck it provides.
With trading, ironically, the "paycheck" is the work. Unlike other artisans who carve stones or make furniture or produce other tangible items of value, with traders it is the net profits that usually indicate mastery.
But there's also the skill level. A master trader can be a part-time worker, trading just enough to pay the bills while he or she dedicates the rest of their awake time to other pursuits of love: family, friends, hobbies, volunteer work or another paying job that supplies enjoyment as well.
Please keep the great responses coming.
I'd really say I am a master trader, but with fraud and negligence from JP Morgan and US Bank it doesn't really matter how well I trade because all of us trust these financial institutions when you should not as they let millions and billions go out the window with petty nonchalance and best efforts excuses.
And modest, to boot...
A master trader is someone who can constantly makes sound decisions in a time constraint environment where he is given only limited information.