All incoming female trader applicants should be forced to watch an episode of Louis CK and their response watched. If they can't handle it then its probably safe to assume they won't make good traders. The crap and hatred towards a comedian that is spewed all over the net on a daily basis mostly by liberal women is comical in itself.
That test was done in 2005 and is severely flawed. The test subjects were given $20 and flipped coins - if they won they made $2.50. No skin in the game & coin flips - really? Seems like the researchers have brain damage. "Some neuroscientists believe good investors may be exceptionally skilled at suppressing emotional reactions. "It's possible that people who are high-risk takers or good investors may have what you call a functional psychopathy,"
BRAIN MUST BE CHANGED TO LIVE IN PREDATOR INFESTED MARKETS! It's important to get true, solid, financial education before putting your money in the markets. My opinion: Markets are filled with sharks, hyenas, wolves, predators - and little innocent sheep and seals. 90% of traders don't make money in the markets because they are the good little seals and sheep. They are devoured by the predators (10% who understand the trade world). As an 18 year trader, I highly recommend that you get trained by a mentor who knows his stuff and has a proven track record with students who still use his/her training years after they were trained. This type of training is available, but it's not cheap. Pay for it anyway - it's the best thing you will have ever done to empower yourself for the markets that you're trying to swim in. I had to learn to totally change my mind in market trading. I was so unsuccessful in the beginning that I would tell my wife to take the opposite trade that I wanted to take, knowing that the market was going to go against me. But I couldn't go with the market because I BELIEVED the other way. You can't trade against your internal beliefs, it's not possible. That's why we have to have our belief system changed on the inside, so we can see, hear, know and believe differently than we currently do. Your internal belief system will equate to your trading success or failure. You are a good person with a good internal belief system. However, the predators have rigged this system against you. They are ruthless. When that shark bites into your trading account to devour it, his eyes roll back inside of his head and he enjoys the meal he just snagged with those rugged teeth. He is heartless. He has no thought of what he has just done to end the life of that little seal (or your trade). It's his nature. NOW - if you could get trained to know how he thinks, where he's lurking, and where he likes to attack, wouldn't that make you much more successful all in it's own? A good mentor will show you his/her system, and that system will be "predator proof" in order to extract money from the markets with no fear of harm from the predators. Don't be afraid to get training. Etoro wants you to be successful, but they are limited by regulation on what they can say or do. The provide the platform, and they have provided the social side so I can say what I'm saying to you (take it or leave it, NP). But they want you to be around for a long time, and to rack up great success. I think they would agree with this post, that education is the first investment you must make, into yourself. This will drive success into your being, and wherever you go, whatever platform you use, whatever market you choose, you will dominate it with your understanding and education. Good day. Good luck. Trade safe. Be ready to change belief systems to be ultimately successful. This huge casino called the markets can be beaten, but you must know how the casino (predator) is thinking and where it makes it's money, and from who. DDDx3
%% LBR proved that; sometimes LOL. And she has sense enough to listen to her market maker husband, in OCT 1987, matter of public record. As they say in Chicago, the smarter you are the longer it takes. [Edit, i could point out some common helpful pattern with gambling in a pool hall + trading/investing. But actually a big difference in markets and gambling; try counting cards winning big in a casino + see how far you get LOL.[Hint, lotto is as stupid tax on people that cant do math]
The title actually contradicts the posted text. The text does NOT say one is a dummy, it specifically says Logic and Cognition intact, but emotional centers damaged. Perhaps my language skills have deteriorated since my useless degree in English, but I'm pretty sure the word 'dummy' indicates cognitive or deficiencies, not emotional ones. Sorry to be so prissy about language, but inability to parse out meaning from such a clear and straightforward statement appears to be a general trend of imprecision in communication and I think it's having a deeply negative effect on society.
My bad, I was just too lazy to make the title, If you are a good trader you might have your Logic and Cognition intact, but emotional centers damaged. The fuck will type that long...
The only thing I know about Brain Damage is that it's an awesome song by Pink Floyd off of The Dark Side Of The Moon.
The research was about "investments"...not trading. Regardless, I'm confident they would have saw completely different results had it been "real money investments" instead of "fake money game". The cognitive decision making is completely different when its just a simulator versus real money (behaviour finance). wrbtrader