Anyone can learn?

This is a discussion on Anyone can learn? within the General Trading Chat forums, part of the Reception category; 52, Depsite what the T2W proponents of eugenics say, I think it more optimistic. A high failure rate may also ...

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Old Apr 8, 2008, 8:37pm   #31
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52,

Depsite what the T2W proponents of eugenics say, I think it more optimistic. A high failure rate may also be due to inadequate preparation, eg familiarity with systems/technicals, understanding the market(s), a good trading strategy with money management. Someone may become extremely successful after only 6 months but others may take a year, or two to reach the same level.

The question isn't can you become a trader in 6 months, but how long does it take for you to become a trader. Answer: as long as it takes.

Grant.
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Old Apr 8, 2008, 10:21pm   #32
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Originally Posted by fifty2aces View Post
Short answer - anyone can trade, but not everyone can make money. If everyone who traded made money, where would all the profits come from?
It comes from newbies most donate all their 1st bank

It comes from Improvers who insist on making one off large donations because they keep getting to new levels and think they no it all again

It comes from seasoned traders who just donate sorry lend the market the % they already no they will donate sorry lend until it comes back to them in multiples of

Just like the snooker club

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Old Apr 8, 2008, 11:10pm   #33
 
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Short answer - anyone can trade, but not everyone can make money. If everyone who traded made money, where would all the profits come from?
Many of the people don't profit any of the time
Some of the people profit some of the time
A few of the people profit all of the time

- with apologies to A. Lincoln
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Old Apr 9, 2008, 8:28am   #34
 
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Originally Posted by Paul71 View Post
So why aren't people learning and doing it?

Hyperthetical bit....

Minimum wage couple, bought a house 10 years ago, some equity in it. Both in jobs that suck.

You can see where i'm going with this, right?



Now apparently according to some, trading can be easily learned, you don't have to be born with special talents, you can be from any gene pool and still make it in this business.

Minimum wage workers poo poo all over the 'anyone can trade' theory with one foul and humungous dump.
IMHO: Because this is the misconception, that successful trading can be learned. I work in a technical environment with a number of engineers. We have all been trained in the same environment, we all have similar qualifications, but we are not all equal in our problem solving ability. Some are borderline useless.
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Old Apr 9, 2008, 11:03am   #35
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Hi All,

Interesting thread.

I would say that an individual's ability to learn the trading business is most dependent upon how much that individual WANTS trading to become their profession.

A person who truly desires a certain goal can figure out how to overcome many obstacles that would stop the average person with less desire. If an individual develops a true passion for the financial markets and is willing to channel that passion, then I think that background and class are largely irrelavant. There are many examples of successful wealthy businessmen who came from working class backgrounds - these people would have faced many obstacles during their journey to success, probably the biggest being rasing funds and getting people to take them seriously in their early days.

Looking back at the original starting post on this thread, I would say that although success isn't always dependent on social class, success means different things to different people. There are people for whom success means simply having a steady job and their own 3-bed semi.....this type of person would have no inclination to learn about the complexities of trading because they already feel fulfilled with the life they have. There are many people who reach a level of comfort in their lives and are happy to not push themselves beyond this point, whether they be of the working, middle or upper class.

I think that the need to venture into trading is sparked by the same need that drives people to start their own business.....ambition - something anyone can have regardless of class.


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Damian
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Old Apr 9, 2008, 11:45am   #36
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Damian,

"fulfilled with the life they have."

Unfortunately, there is an implicit assumption in some quarters on T2W (and elsewhere, especially Elite Trader) that if one isn't trading and also making a wad, this is tantamount to failure.

Grant.
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Old Apr 9, 2008, 12:00pm   #37
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Damian,

"fulfilled with the life they have."

Unfortunately, there is an implicit assumption in some quarters on T2W (and elsewhere, especially Elite Trader) that if one isn't trading and also making a wad, this is tantamount to failure.

Grant.

Hi Grant,

I agree......sadly, we are all judged by the house we live in, the car we drive, and the money we earn.


Damian
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Old Apr 9, 2008, 1:51pm   #38
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MP -- ah, another new thread !

Unfortunately, there is an implicit assumption in some quarters on T2W (and elsewhere, especially Elite Trader) that if one isn't trading and also making a wad, this is tantamount to failure.

Grant

ah indeed Grant --- HOW MUCH is enough ?

$100K, 250K, 500K, 2.5 M, ---- WHERE DOES IT END (i know, greed determines the end point)

obviously there are people who MUST have a few million at the very least (per year) and those who must have more, and even people who can live with (gasp !) LESS !

we should all start a new thread --- "HOW MUCH IS ENOUGH ?

But we must have 5 or 10 year reunions, because each persons needs will change over time --- it could become a wonderous ongoing thread !

mp
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Old Apr 9, 2008, 1:53pm   #39
 
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Damian,

"fulfilled with the life they have."

Unfortunately, there is an implicit assumption in some quarters on T2W (and elsewhere, especially Elite Trader) that if one isn't trading and also making a wad, this is tantamount to failure.

Grant.
1) What would your opinion on this be if the title of the thread was, "Can anyone teach trading?"

2) Who would you want as a teacher? (In terms of wad making) Someone who IS making a wad or someone barely scraping by?
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Old Apr 9, 2008, 4:35pm   #40
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NT,

1) No. Those who can, some are better than others. I think the best one can hope for is to be taught what not to do.

2) The successful, obviously. But this is too black and white. Someone may be brilliant on all aspects of the markets, including how to trade, but is psychologically unsuitable (whatever that means)or perhaps trading has no interest.

Grant.
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Old Apr 9, 2008, 8:12pm   #41
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Originally Posted by new_trader View Post
1) What would your opinion on this be if the title of the thread was, "Can anyone teach trading?"

2) Who would you want as a teacher? (In terms of wad making) Someone who IS making a wad or someone barely scraping by?

Hi New_Trader,

Interesting questions, especially for someone like me who does get involved in the coaching side of things as well as trading itself.

1) From my experience, I would say that trading CAN be taught, but what can't be controlled is maintaining the student's desire to continue with trading once the theory has been taught. Many people quit trading when they realise that it has to be treated as a serious business venture, which involves a great deal of planning and commitment.

2) As regards who you would prefer to employ as your teacher/mentor, people will (and should) check out the credentials of anyone that they are considering working with - I think that this applies to all walks of life, whether it be traders, driving instructors or personal trainers.

You would want to be assured of a teacher's success before handing over any money, and one of the only ways to assess that level of success is to see if they portray a successful image, which comes down again to the house they live in, the car they drive, the clothes they wear, etc.

I suppose in this case, material things can actually hold some importance.


Thanks

Damian
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Old Apr 9, 2008, 9:50pm   #42
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Originally Posted by grantx View Post
Damian,

"fulfilled with the life they have."

Unfortunately, there is an implicit assumption in some quarters on T2W (and elsewhere, especially Elite Trader) that if one isn't trading and also making a wad, this is tantamount to failure.

Grant.
You forgot to add........

If someone isn't doing it the same way the person judging them is doing it that is also tantamount to failure.

It's no good making a wad of money from mechanical system trading, that isn't really trading and you aren't really successful if you do it that way.

Cheers,
PKFFW
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Old Apr 9, 2008, 10:41pm   #43
 
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Originally Posted by Paul71 View Post
So why aren't people learning and doing it?

Hyperthetical bit....

Minimum wage couple, bought a house 10 years ago, some equity in it. Both in jobs that suck.

You can see where i'm going with this, right?
Let me ask you a couple of questions:

How does the outside world look at 'traders'? Are they doing 'a real job' or are they just 'gamblers'?

What is the reaction of society when someone says "oh, instead of going to college, I'll go tour the world, see some cities across the globe, enjoy some new experiences, and after 2 years I'll come back and find myself a job and a wife and some kids..."?

How do family & friends look upon you when you would say "hey, I'm quitting my job, I'm going to try something new, I don't know if it's going to work, and I might lose a lot of money, but it's worth the try".

(here comes that word environment again )
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Old Apr 9, 2008, 10:51pm   #44
 
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Some people are simply risk averse and/or not entrepreneurial or interested in really striving to increase their financial status. I know several people who could be very wealthy by now. People that had the right skills at the right time to make it big but that lacked the drive.
That's a good point.

One could also ask - for example - why do so many people prefer to work in a pay job instead of being self-employed or starting their own business?

Is it because you need the right genes for starting your own business? Or is it because you need some starting capital and have to put in a lot of time and effort before there's a chance of succeeding? (dzjee this sounds awfully much like trading).
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Old Apr 9, 2008, 10:59pm   #45
 
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or do genes play a role after all?

Women appear to be better investors than men... (less ego):

Women's portfolios often to do better than men's - Business First of Louisville:
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