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Strategies & Market Trends : DAYTRADING Fundamentals
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To: hypostomus who wrote (15323)2/25/2002 12:00:03 PM
From: booters  Read Replies (1) of 18137
 
I think the market demands excellence. To be a successful trader demands a much higher degree of performance than just about any other occupation I can think of. We are not use to that. We are use to at least earning something for the effort we put forth.

In the trading game effort alone is not rewarded and a very high threshold must be reached before any return at all is realized. A mediocre plumber or carpenter, lawyer of doctor will be able to make a living of some type but not so true for traders. I would imagine we would discover many of the same problems in most other endeavors if the threshold was as high.

As far as intelligence is concerned I think creativity is probably more important. Often the two go hand in hand but not always.

IMHO a big part of the problem for most new traders is the learning process does not follow the path they would expect it to. We must FIRST discover what type of traders we are, and then learn how to trade that way. We must learn a vast amount of information about ourselves and the markets and after finding out who we are, spread all the information out on the floor before us and slowly pick up the pieces of the puzzle that fit together to make our individual methods.

Realizing that all the pieces do not make up one big puzzle is a BIG step. You must first know who you are. Only then will you know which pieces out of all those available will go together to make the right method for you.

boots
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