Emotionally-based & Logic-based people Everyone is either emotionally based or logic based. Emotionally based people want what they want and that's it. They can't be reasoned with, you can't engage them in logical discussion. They want it their way because they like their way, whether it's actually right or not. The number one weapon of an emotionally based person is shaming, and name calling, a form of bullying. They resort to this because the alternative is facing facts, which they know they don't have on their side, so they need to avoid them. In other words, they don't actually believe their own position, they just like it and want it to be so. Logic-based people are willing to have a discussion in which they can be persuaded to change their mind, so they tend to be more secure and much more reasonable. The strategy and antidote is to understand you are confronted with an insecure child, not an adult who deserves to be treated as an equal. They are emotionally insecure, so the mistake is to consider them an equal and give them credibility in a discussion, which is usually fair and proper among logic-based people, but if someone is behaving like a child, you simply can't. The fix is just understand you're dealing with a child, throwing a tantrum. Don't expect more, it's all they have. You simply have to be the adult, realize you can't reason with them, so don't try, save your energy, don't engage, it's futile. Just be gracious, step away from the unreasonable and seek the reasonable, where you can learn and grow. We're out here. Surround yourself with only those people who add value to your life. It's happier and more fun. Sour grapes are a dime a dozen, you can't make them grow up, they are not self-aware, so they have no interest in it. Happy trading!
I have heard it said that someone once asked Einstein how does it feel to be the smartest man in the world? His reply:”I don’t know you would have to ask N. Tesla”
%% SURE could be\ actually i've noticed , even as a youngster\ people tend to be negative on most any small business, small corp or LLC. So all some can see\ is the fearful 80 number in 80\20%win Dave ramsey said about 20% day-traders make money. It maybe that high?? Sounds like you are like me+ dont want to work for some else Some one with a passion for business/ most likely finds a way to make money/regardless of an 80% or \20% win. I don't need your rockin' chair ; Geritol or your Medicare-- G Jones from the multimillion seller\ album Walls Can Fall
It's hard to blame anyone for having this negative bias about trading. Trading is actually much worse than what the average person thinks. It's a fact that 98% or more of traders lose money. It's easier to judge others accurately but difficult when it comes to yourself.
Well stated, GotherL. The market is a machine, it's only purpose is to take trader's money, nothing else. They've been at it, same tricks, for 100 years, so it's a well-oiled machine. There is no level playing field, it's a tilted machine. If you done play it that way, as the big money says "Slaughter the peasants," which is what they call traders. The only way to survive is to take a little slice here and there, which can add up over time, but the whole game is to get traders to chase shiny objects, not the boring, small gain ones.
Running a small business is a tremendous amount of work. I see it firsthand as a passive investor. I don’t know much about Dave Ramsey. For day trading, 20% making money does sound too high. But you have to consider where you are in the cycle. In the office I traded from, during the high flying times probably a majority made money, and some made ridiculous amounts. Naturally most get washed out by the end of the bull market. There is no substitute for experience. It’s plain to see how the game is played if you pay attention through a couple of market cycles. Good points, murray t. Thanks for the post.
%% LOL Exactly. Like my banker dad said, said dont tell everthing you know. Debbie called in to Dave ramsey this week\ upset because she sold out @ 2008 market bottom + had only about $222,000 left. Dave scolded her \called her little debbie + said she lost much more in opportunity cost$/ about a million buck$ I've done stupid stuff like that, but a stupid scale out even wrongly/worst is better than a panic sell dump.
I think some of both. Einstein got public credit. Tesla was mostly in background but was brilliant. Einstein knew that. They were you might say “rivals”.
Would never thought of that, but now, it sounds possible. Jeff and Elon. Muhammed and Joe. Pope Gregory VII and King Henry IV. Maybe Tesla was bragging or something and Einstein didn't liked that. (the publicity does that for you). Reasons unknown. Dozens of speculations.