Trading and broad market knowledge

wrbtrader · Apr 4, 2016

Simples said:
Specialists have tunnel vision. In the right circumstances they can produce much more than average. They are experts in their specific field, but often lose track of the big picture. They are like a well-tuned machinery for specific tasks and fields.

In order for the right circumstances to materialize, you absolutely need generalists. Remove them from the loop, and you lose adaptability. Generalists need not know all the details, but are usually jack-of-all-trades. The best generalists are specialists in one or more fields as well. They are discoverers, inventors, integrators, scientists, etc. For these kind of open-ended endeavours, it's a big mistake to be too much of a specialist.

I believe the best traders are both types. Because you need both execution and plan to go hand in hand. The absolute minimum is specialist though, since a generalist without execution cannot produce any tangible results.

Excellent diagram btw.

What I find is that no matter the discussion, as long as it is interesting, can provide some food for the brain to spark new ideas. However, many people do not pursue edge as hard as some here do, and just have no idea how much it takes and how little results may come from it even after many years of research. They keep believing the stories in media and take advice from gurus instead of verifying for themselves.
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Sounds like a military or tactical discussion now. I like it.

radex78 · Apr 4, 2016

I think knowledge if combined with skill will giving better result, but yes here in forex each people and trader they have different skill and knowledge, so earning and result in trading always will vary each other, we can't deny if each trader they can making profit but also possible getting loss, as far they still enjoy in business, still they can improve skill and knowledge

rajesheck · Apr 5, 2016

wrbtrader said:
First comes the broad knowledge of the game and then comes the tunnel vision. Simply, they both go hand in hand.
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TOTALLY AGREED

Most people struck in either one of them with little progress !

rajesheck · Apr 5, 2016

Simples said:
Generalists need not know all the details, but are usually jack-of-all-trades. The best generalists are specialists in one or more fields as well. They are discoverers, inventors, integrators, scientists, etc. For these kind of open-ended endeavours, it's a big mistake to be too much of a specialist.
More...

Salute to your WISDOM

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Trading and broad market knowledge

wrbtrader

radex78

rajesheck

rajesheck