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Strategies & Market Trends : Trade What You See, Not What You Think -- Ignore unavailable to you. Want to Upgrade?

To: Apakhabar who wrote (584)	5/10/2001 11:19:23 PM
From: Threei	Read Replies (2) \| Respond to of 867

The fact that so few traders are successful is pretty much all the evidence you need for considering it a specific talent Something in this makes me feel like I disagree... but I can't word it yet... I will try though, topic seems to be very interesting :) One objection comes to mind right away: when one with specific talent enters the field requiring this talent it's noticeable at once. Naturally gifted chess player for instance... even before he gets specific training you can always tell gifted kid from the rest (I intentionally avoid examples with arts like painting or music since you pointed out the difference between creative and interpretive talents). In trading this doesn't seem to be the case, we all start lousy, with exceptions so rare that they just confirm the rule :) Vadym

To: Apakhabar who wrote (584)	5/11/2001 6:36:43 PM
From: Threei	Read Replies (1) \| Respond to of 867

The more I think about it... What is it really that makes a difference between winning and losing trader? As you pointed out (and I completely agree with it) trading does not require extremely high level of intelligence. It doesn't take a rocket scientist to learn major patterns. Besides the fact that many systems work pretty well and the fact that the same system works for some and doesn't work for others indicate that good system is not the major factor that warrants success. But if it's about talent I am having hard time trying to imagine what kind of talent it could be. It seems to me that it's not about talent... it's about self-control. It's enough to realize what correct mindset for trading is and learn to control oneself to not deviate from this model, and trading success should come. Talking to traders in our room every day I hear over and over again: "I know what to do... I just can't make myself always do it. I know what not to do - I just can't seem to stop myself from doing it". Those traders that overcame the struggle also refer to learning to control themselves as a reason for success. Many mention the trading system as a factor but noone said that system was hard to learn or to understand. Example (oversimplified of course): no trader blames his/her lack of understanding where to place the stop... but many complain about inability to keep the stop. Thinking it over again and again, I don;t see anything more than self-control that would be imperative for trading success... But, as usual, I accept the possibility that others see what I don't... Thoughts? Vadym