The stupidity of punters

darktone said:
Good point!
I wana know which 50% group the succesful 20% occupy, being in mind the smart boys have the hardest time of it! (according to Tom Baldwin).. I know its been hell for me! erhmm..:p
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You are pushing it a bit, mate, aren't you? :D I like to think that this moderately successful gent, whilst not being a millionaire is, at least, in the top half.
 
50%? Ya'll are forgetting about the bell curve... And what's to say that the "average" is a bad place to be?

Eh, wtv. Topics of intellect always devolve into "we should really respect others despite my/our obvious superiority" ... When we are the average, ffs. >_>
 
Splitlink said:
You are pushing it a bit, mate, aren't you? :D I like to think that this moderately successful gent, whilst not being a millionaire is, at least, in the top half.
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Ok ok! So im fic and i suk at trading! Happy!!? :LOL:
 
a person of average intelligence should, after 5 mins of thinking, be able to see why hedging eurusd with gbpusd is balls. like arbing ETX against city index. and someone of average intelligence should be able to understand that if some "good" news comes out, and it still goes down, then the news isn't as "good" as you thought or someone else knows more than you.

theres another example of a video that kojac boyles kinked to of some bloke saying "100% accuracy forex trading" because the euro went up over the same week 8 yrs in a row. Anyone of average intelligence should be able to see that is a spurious argument.

So why are there so many stupid f*cks??
 
wackypete2 said:
haha...didn't someone call us all crap traders the other day! :clap:

Peter
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And a few other others things besides in my case! :LOL:...
Mind you, i gave as good as i got! I guess he was too dam smart to notice! :smart:
 
camembert said:
a person of average intelligence should, after 5 mins of thinking, be able to see why hedging eurusd with gbpusd is balls. like arbing ETX against city index. and someone of average intelligence should be able to understand that if some "good" news comes out, and it still goes down, then the news isn't as "good" as you thought or someone else knows more than you.
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Would I say it's balls? No, i'd just say that person hasn't realised they're trading eur/gbp.

Regarding 2nd point, have you not heard of market manipulation? Price is rarely a true reflection of the fundamentals.
 
the hare said:
My politician (who it has to be said is a bit of a stupid bint) was actually outraged when I used that as an argument about the futility of aspiring to the target that 50% of the population should attend university.

The silly cow actually argued that 50% of the population where not below average intelligence, she actually argued that only a few where below average ! (and this was from a member of a government who used to rabbit on about evidence based policy !)

I think it was during that particular conversation I finally decided to leave the place for good. :LOL:
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While I generally don't believe anything a politician is telling me, I think your point here is not strictly correct. It's not necessarily true that 50% of the population are below average intelligence.

If we have a four people with IQ's of 1, 100,101, 102, then what is the average IQ and what % of those are below it? Answer isn't 50%.
 
Masquerade said:
Would I say it's balls? No, i'd just say that person hasn't realised they're trading eur/gbp.

Regarding 2nd point, have you not heard of market manipulation? Price is rarely a true reflection of the fundamentals.
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after 5 mins of thinking, it should be clear to a person of average intelligence that they have no exposure to the $US. I even tried to explain this but it fell on deaf ears, of someone who probably counts as above average on intelligence.

as for 2nd point, I think your making it more complicated than it generally is. What matters is that the person didn't realise the extent to which they were ignoring the reality to protect their ego.
 
Actually that got me thinking about something else. There's a quote attributed I think to Warren Buffett, it goes something like: "I knew technical analysis didn't work when I turned the chart upside down and got the same answer."

What's interesting about this, is that people tend not to even think about what is said. People infer that this means TA is bogus,a nd that's likely what is intended. But actually if you have a chart with a strong trend up (or down) and you turned the chart upside down, you'd of course still have a strong trend up and the answer would be the same. The statement is obvious, and says nothing at all about whether TA is nonsense or not.

Is it just in our nature to accept things without really questioning them most of the time, even if on inspection those things are obviously complete hogwash?
 
Shakone said:
While I generally don't believe anything a politician is telling me, I think your point here is not strictly correct. It's not necessarily true that 50% of the population are below average intelligence.

If we have a four people with IQ's of 1, 100,101, 102, then what is the average IQ and what % of those are below it? Answer isn't 50%.
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well the average is 100.5 and 2 are above and 2 are below.


by the way you other post about cars and stuff was well on :)
 
camembert said:
mate honest i saw the blokes haircut and stopped it.
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Youd do well to well to watch imo, especially if you think these markets are free atm, can say no more than that. :D

Right. Dancing here i come! Lock up ya daughters Bromley! :p
 
darktone said:
Youd do well to well to watch imo, especially if you think these markets are free atm, can say no more than that. :D

Right. Dancing here i come! Lock up ya daughters Bromley! :p
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my dancing ecclesiasticals are knackered, but have fun :)
 
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