Was there any commonalities between the two traders considering their formal education background was considerably different ? Also, what about their informal education ? For example, although most of today's trading is electronic (no need for the floor)...many large trading firms have "runners". I know someone that had such a job for about 5 years and he got the job because his older brother is a manager at the firm. The runner never graduated from high school and he's now a successful private trader. Thus, he obviously learned a few things about trading that's very helpful in his trading today...things he learned when he was a runner.
Having been a pit trader at the CBoT, the job duties of being a "runner" is of very limited value in terms of acquiring trading skills. If you are "clerking" for an experienced floor trader, there might be some to a lot of value in that ( depends on who you are clerking for) especially if the trader allowed the clerk to use his evening pit session privileges. All of that has been long, long gone.
I guess there was no commonality between the trader that didn't finish high school and the trader that went to Yale although both are successful traders. My point is this, I've seen good debates on both sides of the camp about the "college degree" factor as a key variable to success and I've seen more specific debates about the type of degree. I'm always curious when I hear someone say they know someone that's successful and didn't even finish high school. Thxs in advance.
Me also ... but one tends to hear disproportionately about exceptions simply because they are exceptions, I think? "The way it's told" also sometimes says quite a bit. People love to tell you about Bill Gates and Mark Zuckerberg not graduating, but are strangely(?) less interested in the fact that neither had any difficulty getting into Harvard in the first place, because of their existing academic records at that stage. 76% of billionaires listed in Forbes Magazine over the last 20 years have a degree. Many have more than one; indeed collectively they’re more likely to have a postgraduate degree than not to have a degree at all. And among the minority who don’t are several like Bill Gates and Mark Zuckerman who attribute their own successes partly to having been students at universities like Harvard, even if they didn’t actually graduate. Source: http://www.bbc.co.uk/news/business-35631029
emotional intelligence my @ss why is that so many people always try to f@ck themselves in the @ss ? it is not easy to archive but they keep trying and trying and trying... and many finally succeed !
what are the mental characteristics you need to be successful and consistently profitable? Which type of trading is better , screen based mouse clicking on futures contracts or set and forget options trading?Why in detail please?
The moral: the best of the best are probably those who could graduate Yale, but refused to graduate the high school.
That contradicts with amygdala hijackings of people who use their brains and intelligence to trade.Their rational brain is mostly getting blocked , if they sit and watch screen .In fact morons are superior traders , if they do not think and block their emotional brain A lot of screen watching traders trade their emotions , these impair their judgements and rational trading and this is where it goes wrong for most traders https://en.wikipedia.org/wiki/Amygdala_hijack