Hello taowave, Thank you for the response. I am very serious about my trading craft, and enjoy the work and effort I put into improving my skills and data analysis. I just do not see how reading trading books will help my trading skills and I will never ever read a trading book, unless I know the author makes money trading the futures market. Why would I waist time reading a trading book from an Author who makes no money trading? I actually think of reading trading books and going backwards and delaying the process. Because once again, the author can be a Scammer or Liar just selling trading theories or making up trading stories to make money.
How do you generate ideas? Do you have a software program that can backtest your data analysis?? Have you checked out Kullamagi,Minervini,David Ryan? If you havent made money,whats going to turn things around?
Not sure where you are going with "screen time" and hedge fund traders... The guys I know are 24/7 types and exceedingly commited to their craft
Kristjan Kullamägi Is A Loser March 1 Meet Kristjan Kullamägi I’ve touched on this subject before, but today’s blog post is going to address the popular misconceptions around win rate and profit. Today while cooking the best butter chicken recipe I’ve ever tried (and watching my crypto profits soar – it’s getting pretty crazy and certainly a good time to be taking some profits if you’re a hodler sitting on those juicy 10x+ gains!), I put on the latest episode #212 of Chat With Traders. In this (yet another fantastic) episode, Aaron interviews Kristjan Kullamägi – an 8-figure trader from Sweden who has been successfully navigating the U.S. financial markets since 2013, after 2 years of initially blowing 3 or 4 accounts and struggling desperately....... https://zenandtheartoftrading.com/blog/kristjan-kullamagi-is-a-loser/
Good question sir. I walked away from a 9 to 5 years ago and don't think I want to go back. It is to complete something I started a decade ago but didn't finish. That always bothered me.
An interesting perspective of Robert Greene on Mastery & Boredom; — On December 11, 2021, I picked Robert Greene up from the airport, and we drove forty-five minutes to Bastrop, TX. At one point, Robert told me he’s had more than 20 research assistants since Ryan Holiday and none have been any good. Why weren’t they any good? I asked. He said, “Some didn’t grasp the spirit of the material I look for. Some couldn’t discern what's interesting from what isn't. Some melted like an ice cube in the sun at the first piece of constructive criticism. Some...” He paused here and thought. As he was thinking, I understood the implication was that those first three reasons didn't really cut to the core of his troubles with research assistants. “Without exception,” Robert realized, “they weren’t interested in boredom. It’s a dividing line between people who are successful and people who are not.” Takeaway 1: Mastery, Robert said, requires boredom and tedium. It requires doing the same things over and over and over. It requires sitting with the frustration of putting in work that doesn't immediately pay off. It requires sitting with the uncertainty of, am I going to spend sixteen hours reading this biography only to discover there’s nothing in it I can use? You have to be able to sit with boredom, Robert said. Takeaway 2: In another conversation, Robert told me he believes one of the reasons people struggle to sit with boredom is that they have a false idea about the word “creativity.” “People have all sorts of illusions about the word that aren’t the reality,” he said. “The reality is that creativity is a function of the previous work you put in. If you put a lot of hours into thinking and researching and reading, hour after hour—a very tedious process—creativity will come to you…It comes to you, but only after hours and hours of tedious work.” I like this definition because it means creativity is not some mysterious form of magic. It’s something that is rewarded to those who put in hours and hours of boring, tedious work. - - - “One sign that you're suited for some kind of work is when you like even the parts that other people find tedious.” — Paul Graham https://www.twitter.com/bpoppenheimer/status/1702719945824469145?s=46&t=RtbvMjSZB-E4IMCIlJrlWA
I think you really need to open your mind. Swimming coaches don’t usually win medals, for example. Many trading losers have good lessons from which everyone can learn. Don’t you learn from your own mistakes even though you are a loser yourself? So should we listen to your lessons before you become a winning trader? Your thinking/logic is rather flawed. Fixing that you may start to improve in your trading. Lol I benefited a lot from many trading books, good and bad ones. The key is the ability to discern between the two.
do newbie traders fail at a high rate ? The prevailing idea is that newbie traders fail in something between 90 and 95%. I spent a long time trying to find a single verifiable legitimate published article that substantiated failure in newbie traders and could not find one. Do you have any exact information that documents the failure rate of newbie traders at all? Or would you prefer to ignore this request?
I hope you are right. You live in LA, so you know the drill: For the past three months: Up at 5:30 am, turned on the monitor, prepared, be ready. At 6:30 am started to paper trade until the action died down or market closed. After market closed, looked at every trade and those I did not trade, compared real time decision vs after the fact. Made adjustments, continued to run analysis, collect statistics. Rinse and repeat, five days a week. It is almost 24/7. However, I am not complaining because it seems to be working but it is only on paper. In a few more months when I go live will it still work? I don't know.