Misconceptions of 4DTrader: #1. You can disprove a data without providing another one. Nope. If you say the 5/95 % succes/failure is not true, you better provide what the real data is. Otherwise it is your word against common wisdom. #2. It is smart to agree with something in one thread and argue against in another one.In another thread you acknowledged that it takes 4 years to learn how to trade: Quote from 4DTrader: lindq explained a trader's journey very well: "A year in the dark. A second year of some slight enlightenment. A third year of growing understanding. A fourth year of getting it together." #3. Trading isn't difficult. Please provide your paid website (where you prove just how easy it is to trade) and we will take a look.
The flip side of misconceptions is conceptions. Plucking a trader out of the mist could happen. What if a person missed all things related to trading right up to the point that he was picked up and dropped into to a complete trading space? He is going to be in the 5% and not even know about the other 95% who are unlike him. He gathers good knowledge, only has good experiences by only doing what he is told while he operates in the complete trading space and he just makes money all of the time. He finds, quite simply, he has a money machine that gives him tons and tons more than he needs. Forget the grail, what we need is an immaculate trader conception system. Besides callmate, speaking practically, where may these conceptions take place? Ive been called seedy recently, so I feel I can make a comment since I am sympatico with callmate and I've read about how she feels about particular people she has made reference too. Lets look at the average reader's situation. Each is long after conception and none of them were dropped into a complete trading environment that is supreme and optimal. average being traders are so contaminated it is not funny and they are ignorant and are sitting in a trading vacuum. Don bright is querying kidpwrtrader to get acquainted and kid is eyeing Tim Morge for a moon shot at U of A. Maybe they both will arrive and the audience will get two surprises of their lives. Polar evening at Berge or some other room in Keller. Neither of these people is an average guy doing trading. Our focus is the person in the audience seat not including kid who is a paper trader and freaked out with fear. The immaculately concieved sitting duck is immediately visable to us the unobtrusive viewers. He has no garbage or baggage. the garbage and baggage is what MOST affects getting from A to B. Misconceptions come from garbage and baggage. Get it straight not one drop or piece of garbage or baggage goes away. kidpwr absolutely knows he cannot excell his mom ,ever. He has a seven digit mom and she started from scratch about 8 years ago with a cleaning service. Everyone's up bringing is an impressionable time. So is the time when education is occurrring after highschool. Got a brother. Working your way through? Got a scholarship to live up to? Don't want to use your families money to pay for school? "take the best and leave the rest". Who are you kidding. THE MIND DOES NOT LEAVE ANYTHING YOU ARE YOUR EXPERIENCE. GARBAGE AND BAGGAGE MAKE THE TRADER. This is the major trading misconception. Beautiful minds. See the movie over again. When you hit Princeton running coming from the boonies, you make your mark by strategizing on how everyone can get laid. It too easy at U of A though for this to be an Adam Smith stature or level of problem. Most potential traders are not going to make it simply because of their unbeautiful minds. Do you think increasnow is going to ever get where he has gotten himself?? Not 6 ways come Sunday. A person with baggage and garbage cannot be dropped into a complete trading space with total support and succeed. Even though he is sitting there, he cannot see nor can he experience. Not being able to experience, ever and I mean ever, the trading scene is a tough titty to sucky (another theme comment to keep OT) You have to read and understand this and it is BAD news for most. Garbage and baggage and blindness to gaining purposeful experience is the starting place for almost all potential traders. What does a person do when most fundamentals and basic concepts are self denied. Can you imagine what it is like to be surf or rcanfiel? It is hard for me to imagine them getting trapped where they are by their starting point and all the experiences that they have denied themsleves. rad thunderdog's complete set of posts from the being and find out how estrangement occurs from garbage, baggage and denied experience. Look at the potential traders who fall upon tools to kill themsleves. at the same time lookat the blacksmiths hammering out inventions and the wordsmiths crafting BS in huge piles. These guys are messing up when there is a complete and supported spectrum of opportunities to learn to trade. Why put an anvil in front of a screen? Why use screens to type tripe instead of seeing the markets? Inventors of hard or soft things deny themselves the chance to become traders. The big jestation requirement is to build your mind in order to absolutely surround the garbage and baggage you brought to the table. Hammering or typing is not going to do it. So what builds the strong and crucial bulwark in your minds? Pruposeful learning does it. OJT dos it when you are in a complete and support space. No space: no OJT. No ability to learn: no purposeful learning. Knowledge and skills have to stand tall in your mind. Everything you do goes in your mind consciously or unconsciously. Learning to be purposeful is an amazing place to be. What encourages it is seeing the price changing all the time all day long. You see it. Connect to it with one purpose:understanding by having a complete trading space and total support for using it and learning in it. Go to education forum and see if you can influence the moderator to can and delete the top sticky. It is BS. You cannot get rid of baggage and garbage. Everything you percieve goes into and it stored in your mind. Get ignore to work pronto. Weed the crap out of the posts automatically. where's the beef? That is your main job "from this moment on" as all sperm says. Only do purposeful learning. Consciously, learn to stay focused. Stack up and organize all the input you are accepting. Keep piling important things in front of the garbage and baggage. Journal and reread your journal. Keep track of how smart you are capable of becoming. Trading to make money is EASY!!!!!!!!!! Learning must be purposeful and real all of the time. You can be a carpenter and do the same experience over and over for 20 years and have one years experience to show for it. Or you can multiply each and every experience into a kingdom by making every moment count and exponent up. Forget adding things up. Exponent them up from now on. There is never a time when you can get rid of misconceptions; that is a misconception in the first place. They will always be in your mind. Purposefully pile knowledge and skills in front of them in the most orderly way you, consciously, know how. Get the show on the road.
There is a difference between knowledgeable and smart. And there is an even bigger difference between a piece of paper and smart.
Depends what they are hiring for..."Poor, smart, with a desire to get rich" is great for a burnout job like a broker... Simply b/c desire keeps you in the game and helps overcome burnout. But for an analyst or IB job, they want pedigrees I believe.
The first clue that somebody is a bullshitter is when the tell you "X% FAIL IN TRADING". How do you determine when somebody has failed? After about 8 months of my first venture into trading, I blew my account out from trading losses. So does that put me in that X% of failures? Well 11 months later I was trading the market again. So what X% did that put me in? The upper X%? But then I blew out again a few months later - so if you put me back down in the X% of failures, wouldn't that skew your % by counting me twice? In the last seven years I have only had one losing year, (by the 31st of this month it may be 2 ). So does that put me back in the upper %? I had to close my trading account out a few months ago to pay legal fees, would that put me in the failure % again? But I've started trading again since then, so does that put me back in the elite % of profitable traders? Jeez, I hope the OP has a book to sell me so that I can sort all this out.
I have been saying this for years however those with IQ and Mensa will argue nonstop about this and believe their IQ and IQ clubs mean they will be successful; I am glad I take after my mother.
I agree. I don't really know mensa, but I'm honestly not so sure that all the members are so smart. To me it sounds more like a bunch of nerds saying to each other "oh, we are so smart, the others aren't". Besides, IQ is not everything. "Emotional Intelligence" is a great book in that sense
Wow, three points and wrong on every one! Maybe get a new username and try again. #3 is especially funny. If there's one thing that's clear, it's that there's no positive correlation between intelligence and trading. Above average intelligence is probably a hindrance in many cases, especially for retail types.