Illusion of having one or misconception of so-called "discretionary trading".
Why do traders fail?
- Thread starter Tradester123
- Start date
Illusion of having one or misconception of so-called "discretionary trading".
In assessing trading performance it is impossible to differentiate the relative contribution of skill from luck (the randomness of the outcomes distribution and that of market conditions). Success also comes in many grades and there is a vast difference in individual capabilities between the scalper who makes tens of thousand a year, the guy that made a hundred fold in a few months or the person that grows a multimillion dollar account from nothing; and yet all of them would be superficially considered âsuccessfulâ.
Even with risk metrics it isn't possible to solve the question entirely. And besides, is a guy that makes 100 fold in three months martingaling, and retires, the lucky fool or isn't he the smartest of them all?
The decision making criteria may also be vastly different and impossible to relate to performance. Not to speak of those who profit from border line practices like front running a known order flow and such.
Trading is a very articulated, multifaceted reality. Difficult to systematize.
-ras72
Even with risk metrics it isn't possible to solve the question entirely. And besides, is a guy that makes 100 fold in three months martingaling, and retires, the lucky fool or isn't he the smartest of them all?
The decision making criteria may also be vastly different and impossible to relate to performance. Not to speak of those who profit from border line practices like front running a known order flow and such.
Trading is a very articulated, multifaceted reality. Difficult to systematize.
-ras72
Well, this time it was me, so have to explain.
I perfectly understand why one person would help another person for FREE. That motivation of personal sympathy looks perfectly logical to me. Most likely not in format of public thread targeted to help strangers, but personal friendly help.
But I really hardly understand why would anyone consistently profitable in ES sell education courses for $50 and keep trading 4 contracts...
maybe because some people think something is worthless when its free, but if you give it a small value it is suddenly worth more even if the material is the same.
The person helping others might simply be eliminating the issues of gratitude, guilt etc by applying a charge - not based on its value but to satisfy the need for others to feel like they paid for it and were not given it.
At $50 its unlikely going to make a marginal difference to either party - it is a token amount.
Maybe so indeed...
I'll say that says more about the people complaining.
PLEASE keep it free if you can. Thank you.
The psychology these complainers of free training manifest is
( I could understand if they made suggestions on how to improve the quality of the training ) :
- they believe everything has to be exchanged via money.
I leave to the imagination where this way of thinking leads to in terms
of human relationships and even for intimate relationships. hmmm
- they do not know how to receive : usually one should receive by saying thank you, and encouraging the giver to keep spreading the abundance they are giving. Abundance can manifest in many forms ( money, knowegde,... even home decoration!)
- they do not know how to give either : I bet most of these have never done any
volunteering with no expectations of benefits. They do not even realise that the good things in the West ( no child labour, rule of law, etc... ) were created thanks to the generosity ( free efforts) of many people before them.
- they hate the idea of others receiving something good freely and easily, because may be they suffered a lot just to get where they are.
- they love the idea of others being "less than themselves" because they are actually crap inside somewhere. Only God sees what is really into each one of them. The thought of others catching up is uncomfortable somewhere : not having anybody to look down to ! yup! That might mean having to look into themselves and they know what is there.
- and of course, there is somewhere in the back of their mind, that many others could succeed where they have failed and that is something they absolutely dislike. They actually hate competition where there is a leveling field.
They love competition where the dice are piped in their favors.
( I could understand if they made suggestions on how to improve the quality of the training ) :
- they believe everything has to be exchanged via money.
I leave to the imagination where this way of thinking leads to in terms
of human relationships and even for intimate relationships. hmmm
- they do not know how to receive : usually one should receive by saying thank you, and encouraging the giver to keep spreading the abundance they are giving. Abundance can manifest in many forms ( money, knowegde,... even home decoration!)
- they do not know how to give either : I bet most of these have never done any
volunteering with no expectations of benefits. They do not even realise that the good things in the West ( no child labour, rule of law, etc... ) were created thanks to the generosity ( free efforts) of many people before them.
- they hate the idea of others receiving something good freely and easily, because may be they suffered a lot just to get where they are.
- they love the idea of others being "less than themselves" because they are actually crap inside somewhere. Only God sees what is really into each one of them. The thought of others catching up is uncomfortable somewhere : not having anybody to look down to ! yup! That might mean having to look into themselves and they know what is there.
- and of course, there is somewhere in the back of their mind, that many others could succeed where they have failed and that is something they absolutely dislike. They actually hate competition where there is a leveling field.
They love competition where the dice are piped in their favors.
Regardless of all the reasons - its just human nature.
There are so many cultural differences around the world regards gift giving and receiving - formally and informally- this just keeps it arms length and as a straight forward commercial transaction everyone can understand.
There are also a lot of ideas around the 'psychology of free'.
IMHO In this case being talked about ($50) sometimes the token amount just simply covers all bases and keeps those who feel guilty about something like this for what ever reason happy as well....without putting some larger price tag on it with the excuse that 'you will make this back with just one trade'. (LOL)
ET is free , right?
Though Baron makes money from advertising.
Though Baron makes money from advertising.
Yea, some business models assume user is a PRODUCT and not client.
This is the case with free online resources.
Ego.
And it doesn't take a psychologist to understand this obsession with "size" considering that it all comes from male traders.