Nature or nurture ?

[Pat494]

There are imho various qualities like self discipline that help an ordinary trader become a great trader or are they born

what spured you on personally and raised your game ?

If you have kids what would you do to encourage them onwards and upwards in life.

 

[the hare]

I could probably train a money to trade profitably. The problem is after that point is reached, random chance starts to play a role, and its perfectly feasible that someone may achieve greatness simply by luck. In fact its entirely possible that someone without a clue could do extremely well, or someone who understands the game may not do so well. That will upset the all is known in advance crowd

So, in terms of nature or nurture, I'd say neither, although I do believe that some people have particular characteristics that make them suitable, or unsuitable. The people with the right characteristics will do better on average than the people who dont share those characteristics.

 

[Splitlink]

I could probably train a money to trade profitably. The problem is after that point is reached, random chance starts to play a role, and its perfectly feasible that someone may achieve greatness simply by luck. In fact its entirely possible that someone without a clue could do extremely well, or someone who understands the game may not do so well. That will upset the all is known in advance crowd

So, in terms of nature or nurture, I'd say neither, although I do believe that some people have particular characteristics that make them suitable, or unsuitable. The people with the right characteristics will do better on average than the people who dont share those characteristics.

I doubt whether a monkey could be trained to trade but, if it could and you could do it, you would earn my deepest admiration and respect. However, what you say about randomness could be said to be true about all other walks of life, not just trading. It is a question of being in the right place at the right time. As far as trading is concerned, though, I don't think that anything is known in advance. All one can do is decide for himself, by previous experience, what is probably going to happen. I do my decision making by looking at a price chart and getting out as quickly as I can, if I think that I am wrong. Unfortunately, I may think that I am wrong and be proved that I was right in the first place.

Is not that, though, what has happened to me, all my life? I have had successes and failures since Day 1 and would like to start all over again. You, rarely, get a second chance so, yes, life is random, too.

 

[intradaybill]

- Question everything but not reject it in advance

- Think before you act...and think again..but not for too long...

 

[Pat494]

I think patience must rank near the top for trading, like angling.
Not to nod off at the critical moment having waited some time for the entry criteria to line up.

 

[Splitlink]

I think patience must rank near the top for trading, like angling.
Not to nod off at the critical moment having waited some time for the entry criteria to line up.

Depends on how long the wait has been.

Perhaps, the best is to put an order in and walk away.

 

[YouAreNotFree]

Taking responsibility for your results.

 

[Pat494]

Trading is such an introverted personal thing imho.
There's no-one to bullsh*t. Lying, threatening and cheating aren't possible.

Just you, your computer and the markets.

Roll on Monday

 

[enragedcow]

I could probably train a monkey to trade profitably. The problem is after that point is reached, random chance starts to play a role, and its perfectly feasible that someone may achieve greatness simply by luck. In fact its entirely possible that someone without a clue could do extremely well, or someone who understands the game may not do so well. That will upset the all is known in advance crowd

So, in terms of nature or nurture, I'd say neither, although I do believe that some people have particular characteristics that make them suitable, or unsuitable. The people with the right characteristics will do better on average than the people who dont share those characteristics.

completely off topic for all you maths geeks: i'd like an infinite set of infinite monkeys making buy/sell orders at random please; after they finish writing all of Shakespeare's plays on their typewriters that is.

on topic: i believe some traits for success are passed through genes but others are somehow instilled while growing up. Certainly failure is passed down through the gene pool (arseheads have arsehead babies, and lots of them unfortunately)

 

[Pat494]

Luck is so terribly important.

If computers hadn't given Steve Jobs his chance he would have probably been an unknown motor mechanic.

 

[Shakone]

Steve Jobs is talented in many areas, and would have succeeded even without computers.

I think one of the biggest factors that push you towards success, is the competition around you.

 

[the hare]

i'd like an infinite set of infinite monkeys making buy/sell orders at random please; after they finish writing all of Shakespeare's plays on their typewriters that is.

A useful exercise is to try imagining that you where given the unfortunate task of managing these monkeys. Do you think there's anything you could do to make money ?

would you hand out nuts, bannana's and cocunut milk and have a chimps tea party, or would you fire a few ? which would you keep ? and why ?

 

[KenMedanic]

Hi all, good trading, great trading and poor trading all have the same foundation - Habits and self discipline.
To be consistently a great trader or a poor trader is one and the same because both have the same zest to maintain discipline in their current habits.

 

[kimo'sabby]

I could probably train a monkey to trade profitably.


Very similar to going fully automated. You'll have to get on the T2W comp and start showing off a bit, stop being so modest.

 

[roarson]

- Question everything but not reject it in advance

- Think before you act...and think again..but not for too long...

 

[Pat494]

Do you teach your kids trading ?

What a great start to a carefree life - providing big Daddy knows how to that is.

 

[Jocunivem]

I've always believed in nurture.

 

[Pat494]

I think nature can be improved upon by nurture - that is providing there is something to work on.

The children of dentists I have met are doing well. Is there a pain factor lurking somewhere ?

Children just love playing on their parents tablets etc. They may be off to a great start. Years ago the ultimate child's toy was a pair of six guns. Not everything gets worse imho

 

[Pat494]

Has Einstein's DNA been sequenced yet ?
Perhaps the " brilliance gene " may be found and then injected into children so that they grow up to be clever.
Most of the Western education systems are based on learning ability not on problem solving which is a much more productive kind of intelligence.

 

[JER08]

In my humble opinion, nature is a number everyone born/start with, nurture/environment is a multiplier which can also be a negative number.