I guess we are getting into the issues of human potential / human development. One could say : are the teachers/trainers/coaches good ? are they using suitable methods with these "low IQ" students ( knowing that IQ is a cultural measure). ? Now if one could add: is the student wiling to pay the price ? examples : * In trading, some say one price to pay is 10,000hrs screen-time for daytraders. And that is like at least 5 years full-time trading. Not everyone has the means to give 5 years full-time, so people need to plan and be patient. * One firm I came across would give a strategy to the trainees, but the trainee had to backtest by hand quiet a few instruments over at least 10 years, tracking various variables (mae, mfe,...) before going on the demo. Their retention rate was very low.
I never said, "anyone can be taught to trade". Anyone who has the ability to learn how to trade can become successful at it. There is no "innate ability" involved. There is nothing magical about trading. Any aspiring trader can learn of "market consistencies" and trade them. Some people, though not me, call that "edge". (This thread is soooooo STUPID!)
I think you would be closer to the truth if the quote was something like Trading is a learnable science, not an innate talent... It is like riding a bike, you can talk about it, read about it, take courses to learn about gravity, balancing your self on two wheel's and take all the teaching that is available to you, but it is untill you really start doing it and take responsability for the results like sore knee caps, that you will 'learn' how to do it...
Actually, not. If you don't have the ability to balance on 2 wheels, you cannot be taught to ride a bike.
nowdays some start with 4 wheels, 3 weels, 2 weels and 2 weels slighly above the ground, and do not need to go through the same pain. lol. The nice thing is we can discover better and better methods to reach a goal.
IQ is not a cultural measure. It is an extremely predictive factor for all types of life outcomes - basically anything that requires intelligence. It is largely fixed over a person's lifetime. It is perhaps the most studied and documented fact in the field of cognitive science. You can't train a person with average intelligence to learn advanced mathematics, for example, no more than you can train the person of average physiology to slam dunk a basketball, or the person of average creative and analytical ability to become a great trader or champion chess player. Simple facts, folks. Regardless, i am moving on.
Exactly correct, Mr. N. I couldn't have said it better myself. These hindsite chart jockeys live in denial and delusion forged by starring at charts for years and years--- "look" a double top, I am going to short, and my SHORT made money just look at the chart!
The misunderstanding of facts on this board is an excellent example of how the market "CONVINCES" those without the skill that THEY can do it also--- "just spend 10 years lookign at charts, keep trying, think of your losses as a college tuition"--these platitudes are taken as FACT, when in fact, they are FALSE. They are supported by the market machinery because this is how the market survives by a constant stream of "true believers" and decieived TA wonks-- thinking their losses are somehow education and they will get it eventually. This keeps them coming back for more loses and abuse by the market which in turn feeds the market-- its a vicious cycle. The first step to understanding how the market really works is to understand the myths---- this is a powerful myth----
Too funny surf! You nailed it! "hindsite chart jockeys" ...I will be laughing about that one all day. Ok, now I am moving on.