How To Think Correctly

[Market Wizard]

This is (IMO) where intelligence comes in. Intelligence cannot be taught and is not related to knowledge. Intelligence is the ability to do the correct and appropriate thing in a new and unexpected situation and thus cannot be taught. Anyone who thinks they can impart the correct way of thinking is playing the role of A (The?) messiah. That takes us back to religion, control and domination....

Goood post.

"It is more important to do the right things than it is to do things right " -
Following the right actions continuously will automatically lead your thoughts in the right direction.

That comes back to the other question - What is the right thing to do ? - Many cannot answer this question.

 

[CYOF]

This is (IMO) where intelligence comes in. Intelligence cannot be taught and is not related to knowledge. Intelligence is the ability to do the correct and appropriate thing in a new and unexpected situation and thus cannot be taught. Anyone who thinks they can impart the correct way of thinking is playing the role of A (The?) messiah. That takes us back to religion, control and domination....

And what about the child playing the piano nt - is this not a fact of life?

We need to sometime put our dictionary terms aside -and look at how we can relate everyday occurrences with the thought process, and why things happen as they do.

Remember the recent post about the Budda!

 

[rols]

"We can understand the action of the conscious and subconscious minds by observing the process by which the child learns to play the piano. He is taught how to hold his hands and strike the keys, but at first he finds it somewhat difficult to control the movement of his fingers. He must practice daily, must concentrate his thoughts upon his fingers, consciously making the right movements. These thoughts, in time, become subconscious, and the fingers are directed and controlled in the playing by the subconsciousness. In his first months, and possibly first years of practice, the pupil can perform only by keeping his conscious mind centered upon the work; but later he can play with ease and at the same time carry on a conversation with those about him, because the subconscious has become so thoroughly imbued with the idea of right movements that it can direct them without demanding the attention of the conscious mind."

I rest my case!

Slainte,

How many people do you know are able to play a Chopin Etude while discussing the state of English cricket for example?

Might this be analogous to day trading.

A friend of mine works in Harrod's piano department and assures me that 90% of the thousands of pianos he sells each year cease to be played after 3 months of purchase.

Why is this?

Learning to play the piano to a degree of competence (say Grade 8) takes on average 10 years and requires aptitude, daily practise and good teaching.

To be able to play a Chopin Etude and hold a conversation is a possibility for only a very few.

Even with the best teaching and diligent practise and access to all the finest books and methods in the world and an intimate understanding of quantum physics only a few will attain the above mastery.

How do you explain this CYOF?

 

[CYOF]

Goood post.

"It is more important to do the right things than it is to do things right " -
Following the right actions continuously will automatically lead your thoughts in the right direction.

That comes back to the other question - What is the right thing to do ? - Many cannot answer this question.

MW, is not the right thing to do to "not sabotage" yourself?

 

[new_trader]

Goood post.

"It is more important to do the right things than it is to do things right " -
Following the right actions continuously will automatically lead your thoughts in the right direction.

That comes back to the other question - What is the right thing to do ? - Many cannot answer this question.

True, but like an idea, you only know if it was good or bad after it is implemented and the outcome is observed.

The "right thing" is more of a retrospective question. It only becomes predictive once you have built up enough experience...I suppose.

I see the same relationship with trading.

 

[Market Wizard]

MW, is not the right thing to do to "not sabotage" yourself?

I agree, but is it not easier to do that with a mindset that has not reached a level understanding than it is to follow , say a set of tried and tested rules?

 

[SOCRATES]

Nice to see you back Socrates, I hope you enjoyed the holidays and look forward to your input.

BTW, I remember reading some posts where a lot of advice was been give to check you ego at the door for trading - this, I now believe, is flawed, and ego, I now believe, is very important in relation to thinking correctly, which is in turn very important for positive trading results, which is all that matters in relation to trading, positive results are the ultimate experience, and like all cause and effect, positive things will leads to more positive things, and vice versa of course.

Well not exacltly,.......

The function of ego is important ....in actually bringing the trader to the trading arena....but no further than that act itself.

 

[CYOF]

How many people do you know are able to play a Chopin Etude while discussing the state of English cricket for example?

Might this be analogous to day trading.

A friend of mine works in Harrod's piano department and assures me that 90% of the thousands of pianos he sells each year cease to be played after 3 months of purchase.

Why is this?

Learning to play the piano to a degree of competence (say Grade 8) takes on average 10 years and requires aptitude, daily practise and good teaching.

To be able to play a Chopin Etude and hold a conversation is a possibility for only a very few.

Even with the best teaching and diligent practise and access to all the finest books and methods in the world and an intimate understanding of quantum physics only a few will attain the above mastery.

How do you explain this CYOF?

A question with a question - Socrtaes would love this

My daughter learns violin, and we attend several concerts each year.

Now, there are some children that excel at playing the violin, so good that my basic appreciation of music leads me to hear the same sound as a master violinist plays.

Why is this so, and why will the music teacher hear the notes different to me?

And, more importantly, why is this girl who excels, who is around the same age as my daughter, able to do so, and my daughter is definitely a long way from playing the same classical pieces that this girl can play?

 

[CYOF]

True, but like an idea, you only know if it was good or bad after it is implemented and the outcome is observed.

The "right thing" is more of a retrospective question. It only becomes predictive once you have built up enough experience...I suppose.

I see the same relationship with trading.

And what of Nikola Tesla - who never put anything to paper until he had every minute detail worked out in his head, and was certain that he had covered all possibilities, so much so, that when he constructed his apparatus, it worked first time!

A Master Thinker if there was ever one.

 

[SOCRATES]

A question with a question - Socrtaes would love this

My daughter learns violin, and we attend several concerts each year.

Now, there are some children that excel at playing the violin, so good that my basic appreciation of music leads me to hear the same sound as a master violinist plays.

Why is this so, and why will the music teacher hear the notes different to me?

And, more importantly, why is this girl who excels, who is around the same age as my daughter, able to do so, and my daughter is definitely a long way from playing the same classical pieces that this girl can play?

Very simple....it has to do with the transposition of experience.

 

[new_trader]

How many people do you know are able to play a Chopin Etude while discussing the state of English cricket for example?

Might this be analogous to day trading.

A friend of mine works in Harrod's piano department and assures me that 90% of the thousands of pianos he sells each year cease to be played after 3 months of purchase.

Why is this?

Learning to play the piano to a degree of competence (say Grade 8) takes on average 10 years and requires aptitude, daily practise and good teaching.

To be able to play a Chopin Etude and hold a conversation is a possibility for only a very few.

Even with the best teaching and diligent practise and access to all the finest books and methods in the world and an intimate understanding of quantum physics only a few will attain the above mastery.

How do you explain this CYOF?

I can comment a little on piano playing since I am learning to play. In the words of a Grandmaster - All the technique necessary to play the piano can be learned in around 2 –3 years. Practice requires ingraining movements into both "hand" memory and brain memory. The speed at which you practice a piece is not important, in fact practising slowly can be more beneficial. Talking and playing the piano at the same time is easy.

 

[Market Wizard]

True, but like an idea, you only know if it was good or bad after it is implemented and the outcome is observed.

The "right thing" is more of a retrospective question. It only becomes predictive once you have built up enough experience...I suppose.

I see the same relationship with trading.

I agree with you to an extent. I believe it is only the case if you go back to CYOF's question os "self sabotage" . There has always been a clear set of rules or actions for most situations that occur on a daily basis. The bible, Napoleon Hill type of things guide you there.

With respect to the markets, many books, tutors, all teach the a set of rules that have to be followed, but many fail here.

 

[ian]

Who takes out the garbage?

Can anybody remember a documentary shown on tv a few years ago about 'a guy' that had the idea to hand pick a group of 'elite' individuals and using their pooled finances would go and buy an island somewhere warm and sunny and then live in seclusion away from the scummy folk that they deemed not worthy - by their intellectual standard that is!

This perfect place was found. If memory serves me right it was somewhere around South America, the interviewer then went around all the 'chosen ones' listening to their wordy words - a right bunch they were...then it all went pete tong!

Can anybody remember this program?

 

[new_trader]

And what of Nikola Tesla - who never put anything to paper until he had every minute detail worked out in his head, and was certain that he had covered all possibilities, so much so, that when he constructed his apparatus, it worked first time!

A Master Thinker if there was ever one.

Are we talking inventions or ideas? Besides, you don't know how many failed ideas he had.

 

[CYOF]

Well not exacltly,.......

The function of ego is important ....in actually bringing the trader to the trading arena....but no further than that act itself.

But is that not the hardest part of the journey for most, so it becomes crucial, not just important.

The act of trading requires a skill set, and if these skills do not lend themselves well to ego, then yes, of course ego must be checked, but only when it is clearly identified when it must be checked by, and at what stage. It may have to get past the door, but not into the living room, so as to speak.

 

[SOCRATES]

But is that not the hardest part of the journey for most, so it becomes crucial, not just important.

The act of trading requires a skill set, and if these skills do not lend themselves well to ego, then yes, of course ego must be checked, but only when it is clearly identified when it must be checked by, and at what stage. It may have to get past the door, but not into the living room, so as to speak.

Yes exactly, very good.

 

[CYOF]

Are we talking inventions or ideas? Besides, you don't know how many failed ideas he had.

And does not an invention not have to first originate as an idea in someones mind?

 

[Market Wizard]

Can anybody remember a documentary shown on tv a few years ago about 'a guy' that had the idea to hand pick a group of 'elite' individuals and using their pooled finances would go and buy an island somewhere warm and sunny and then live in seclusion away from the scummy folk that they deemed not worthy - by their intellectual standard that is!

This perfect place was found. If memory serves me right it was somewhere around South America, the interviewer then went around all the 'chosen ones' listening to their wordy words - a right bunch they were...then it all went pete tong!

Can anybody remember this program?

I don't remember that program but there was one on a few weeks ago about an American Gated community. The idea being that they wanted to move away from the so called filth in society, the drugs, drink etc. The reporter went around this gated community and discovered the same thing happening within the gates of thie community that was happening outside.

 

[CYOF]

Very simple....it has to do with the transposition of experience.

Socrates, it might be beneficial to expand on this "transposition of experience", as it appears to have relevance.

 

[new_trader]

And does not an invention not have to first originate as an idea in someones mind?

Yes, and then it must be implemented to become an invention. Although not all ideas become a tangible product when they are implemented.