Where to begin?

[the hare]

If I was The CEO of a website that depended on the QUANTITY of visitors & members rather than the QUALITY I wouldn’t want to exclude or alienate anyone. I would be saying the same thing as you.

Well of course you would, and so would I

I suppose everyone has some sort of agenda, and of course if people can't cut through the bs to see the reality, I suspect they aren't really cut out to do very much at all.

Still, it was a point worth making, and there's very few of those these days, so a pleasant change.

 

[D70]

Actually, I would prefer to say an I.Q score that places you in the top 5% of the general population...Because of the different types of I.Q tests 'percentage' is a better way of expressing the score because it is a relative measure not an absolute. Scoring 150 on one test might be the same (percentile wise) as scoring 130 on another.

As I explained earlier, IQ tests, especially Culture Fair ones, test things like problem solving, pattern recognition and sequence recognition. Can you explain why someone who doesn't demonstrate a high aptitude in these areas is still suited to trading?

Problem solving? Is that important for trading. Maybe.
Pattern recognition? Only TA would agree that this is important.
Sequence recognition? As above.

What about EQ? Surely that is more important than IQ? IQ struggles with trading because IQ cant "theorise" what happens because it's all a guess. They attempt to model the market but it cant be modelled. They attempt to use history to predict the future. Again, a futile endeavor. EQ doesnt struggle because they understand fear and greed. If there was such a thing as 'gaming quotient' and 'competitiveness quotient'. I'd be all over anyone with an aptitude for those.

 

[new_trader]

Problem solving? Is that important for trading. Maybe.
Pattern recognition? Only TA would agree that this is important.
Sequence recognition? As above.

What about EQ? Surely that is more important than IQ? IQ struggles with trading because IQ cant "theorise" what happens because it's all a guess. They attempt to model the market but it cant be modelled. They attempt to use history to predict the future. Again, a futile endeavor. EQ doesnt struggle because they understand fear and greed. If there was such a thing as 'gaming quotient' and 'competitiveness quotient'. I'd be all over anyone with an aptitude for those.

The generally accepted definition for intelligence is the ability to respond adaptively to new situations, to think abstractly and to comprehend complex ideas.

I.Q tests measure the above abilities and a score is derived by how you compare to the general population. Given the oft-quoted statistic that 95% of traders fail/lose money I would argue that there is a correlation between I.Q and success. I am not denying that luck, among other factors, play an important role.

EQ might be more important than IQ but how does 'more important' translate to an I.Q score?

I don't know where you get the idea that IQ struggles with this ,attempts to do that, can't do such and such...Did that come from research or are you just making it up? Are you are aware of how much research has gone into IQ tests and score correlations over the last 100 years or so? It is for a good reason.

 

[D70]

The generally accepted definition for intelligence is the ability to respond adaptively to new situations, to think abstractly and to comprehend complex ideas.

I.Q tests measure the above abilities and a score is derived by how you compare to the general population. Given the oft-quoted statistic that 95% of traders fail/lose money I would argue that there is a correlation between I.Q and success. I am not denying that luck, among other factors, play an important role.

EQ might be more important than IQ but how does 'more important' translate to an I.Q score?

I don't know where you get the idea that IQ struggles with this ,attempts to do that, can't do such and such...Did that come from research or are you just making it up? Are you are aware of how much research has gone into IQ tests and score correlations over the last 100 years or so? It is for a good reason.

You are probably right that the best traders have a high IQ, but I would disagree that you must have a "high" IQ to be a good trader. Market Wizards books often refer to someones intellect. I always interpreted this as their ability to think outside the box. The overriding quality I notice in excellent traders is competitiveness (bordering on extreme aggression) , drive and the ability to focus. Poor traders are inpatient, emotional and complacent. You should write a 'traders quotient' test and let t2w members have a crack?

 

[new_trader]

You are probably right that the best traders have a high IQ, but I would disagree that you must have a "high" IQ to be a good trader.

We wouldn't have to argue about it if more people bothered to find out what their IQ actually is. We would have facts, not just opinions. The mere mention of an IQ test seems to offend people...I can't figure that one out.

You should write a 'traders quotient' test and let t2w members have a crack?

It would be better if T2W members simply took a standardized IQ test. That way we would really find out if there is a correlation or not. Unfortunately, there isn't a correlation between IQ and honesty

 

[PATrader]

Why the constant arguing? A lot of stuff in trading has no answer at all. Are we making money is more important. Focus on the real and practical things guys.

 

[counter_violent]

I posted this on another thread and surprise surprise no reply or reaction. So, will try again here amongst "teh intellectuals".

It's well worth a viewing.

Uncommon Knowledge: Thomas Sowell on the Vulgar Pride of Intellectuals - YouTube

Peter Robinson talks to economist Thomas Sowell about his book "Intellectuals and Society." Robinson and Sowell discuss the fact that intellectuals play a disproportionate role in society, as evidenced by linguist Noam Chomsky's influence on liberal politics. Is a fancy education a high speed rail ticket to fallacy? Find out as Professor Sowell discusses the pride and fallacies of the intellectuals, in addition to the unused brilliance of the masses.

 

[D70]

We wouldn't have to argue about it if more people bothered to find out what their IQ actually is. We would have facts, not just opinions. The mere mention of an IQ test seems to offend people...I can't figure that one out.



It would be better if T2W members simply took a standardized IQ test. That way we would really find out if there is a correlation or not. Unfortunately, there isn't a correlation between IQ and honesty

Post up links to a couple of IQ tests you think are fair.

 

[new_trader]

Post up links to a couple of IQ tests you think are fair.

International High IQ society

Mensa Workout | Mensa International

I don't like the Mensa one, it isn't really culture fair.

Don't be discouraged by a low score on your first test. Most people who take IQ tests practice before taking a test. However, as I also discovered, there is an IQ level where no matter how hard you try, you can never beat. This is regarded as your 'true' IQ. It is surprising how consistent it is from test to test.

 

[Steve]

If I was The CEO of a website that depended on the QUANTITY of visitors & members rather than the QUALITY I wouldn’t want to exclude or alienate anyone. I would be saying the same thing as you.

True enough but in this case I just don't agree with you.

 

[D70]

International High IQ society

Mensa Workout | Mensa International

I don't like the Mensa one, it isn't really culture fair.

Don't be discouraged by a low score on your first test. Most people who take IQ tests practice before taking a test. However, as I also discovered, there is an IQ level where no matter how hard you try, you can never beat. This is regarded as your 'true' IQ. It is surprising how consistent it is from test to test.

Any idea why companies dont IQ test potential employees? Or why people dont put their IQ score on their CV? Could go right along with education.

In my city interviews, many years ago now. Goldmans asked me a few mental arithmetic and problem solving questions. UBS went to the extent of making me do a written maths test. But neither made me do an IQ test. Assume I passed both because I got the jobs.

That would suggest they put mental arithmetic and problem solving above IQ? Or would you suggest they are the same thing?

 

[kimo'sabby]

Any idea why companies dont IQ test potential employees?


A lot of tests are based on multiple choice.

 

[counter_violent]

I posted this on another thread and surprise surprise no reply or reaction. So, will try again here amongst "teh intellectuals".

It's well worth a viewing.

Uncommon Knowledge: Thomas Sowell on the Vulgar Pride of Intellectuals - YouTube

Peter Robinson talks to economist Thomas Sowell about his book "Intellectuals and Society." Robinson and Sowell discuss the fact that intellectuals play a disproportionate role in society, as evidenced by linguist Noam Chomsky's influence on liberal politics. Is a fancy education a high speed rail ticket to fallacy? Find out as Professor Sowell discusses the pride and fallacies of the intellectuals, in addition to the unused brilliance of the masses.

No comments here either.

So, I can only conclude that TS is correct and that the intellectuals feel they are above it all and beyond question.

Fascinating to say the least!

Here's a real world example then of "teh intellectuals" who know better than everyone else.

BBC ON THIS DAY | 29 | 1985: Thatcher snubbed by Oxford dons
Boris backs 'Margaret Thatcher College' to correct doctorate snub from Oxford University | UK | News | Daily Express

 

[bustech]

I posted this on another thread and surprise surprise no reply or reaction. So, will try again here amongst "teh intellectuals".

It's well worth a viewing.

Uncommon Knowledge: Thomas Sowell on the Vulgar Pride of Intellectuals - YouTube

Peter Robinson talks to economist Thomas Sowell about his book "Intellectuals and Society." Robinson and Sowell discuss the fact that intellectuals play a disproportionate role in society, as evidenced by linguist Noam Chomsky's influence on liberal politics. Is a fancy education a high speed rail ticket to fallacy? Find out as Professor Sowell discusses the pride and fallacies of the intellectuals, in addition to the unused brilliance of the masses.

School and university education = below average thinking

 

[Shakone]

School and university education = below average thinking

butech, how do you come to that conclusion? What is above average thinking?

CV, I don't really know whether intellectuals play too great a role in modern society (it also depends on what's considered an intellectual). I think the only way to get a measure on that would be to look at a society that doesn't let intellectuals have much of a role. Perhaps as an example, you could consider some countries who value religion much higher than intellect. Are they better off?

 

[bustech]

butech, how do you come to that conclusion? What is above average thinking?

CV, I don't really know whether intellectuals play too great a role in modern society (it also depends on what's considered an intellectual). I think the only way to get a measure on that would be to look at a society that doesn't let intellectuals have much of a role. Perhaps as an example, you could consider some countries who value religion much higher than intellect. Are they better off?

Illusory superiority(above average thinking) is the thinking of people in higher government roles.

Can't find but there is a piece written in China about that type of thinking for the education system in the west. Talk's about going to school in the west for an average lifestyle.

Which I found strange coming from China, but did make some sense.

 

[Splitlink]

Where to begin? Take an I.Q test, preferably a few of them and specifically Culture Fair IQ Tests. You can buy good books on how to boost your I.Q from Mensa and they have tests in them. If you consistently score above 130 then you probably are fit for this profession, if don't then you should find something else to do with your time and money.

My opinion on IQ testing is the opposite to yours. Someone with 130, definitely, should apply his brain power to something other than what is, frankly, a random process. High IQ is, surely, not needed to randomly enter and limit one's losses, if wrong.

 

[the hare]

High IQ is, surely, not needed to randomly enter and limit one's losses, if wrong.

That's probably true.

There has to be some sort of IQ threshold below which people are incapable of conceptually understanding why that works works (or doesn't work)

I've tried to explain how I trade to reasonably intelligent people with arts and humanities backgrounds, and they don't get it either, its completely beyond their understanding and comprehension

I don't think you can trade something you don't understand, and the random nature of the gains and losses is such that its impossible to build up any confidence in the method

I'm sure IQ isn't a prerequisite, but if you gave me the choice of increasing or decreasing my IQ by 10% then I know which option I'd take.

 

[counter_violent]

if you gave me the choice of increasing or decreasing my IQ by 10% then I know which option I'd take.

Yes, just imagine the possibilities that would open up with a 10% less IQ.

x-factor contestant perhaps

 

[Lightning McQueen]

International High IQ society

Mensa Workout | Mensa International

I don't like the Mensa one, it isn't really culture fair.

Don't be discouraged by a low score on your first test. Most people who take IQ tests practice before taking a test. However, as I also discovered, there is an IQ level where no matter how hard you try, you can never beat. This is regarded as your 'true' IQ. It is surprising how consistent it is from test to test.

I tried the 1st link, merely out of interest as to the type of tests that come up.

they look very much like the selection tests i took before starting work.

Your IQ score lies within a range of 110 up to 126

I didn't get above the 130 threshold so am a confirmed dimwit