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I think there are many answers to the question as to what makes a good trader.
I believe that at one end of the spectrum there are the seat-of-the-pants
discretionary traders. I have no question that there are very talented and
capable people like this who clean our clocks daily. If you were to tie
them up, give them truth serum, and interrogate them to find out their
secrets, I honestly believe they couldn't tell you.
At the other end are the people with no inherent trading capability but
with huge access to and knowledge of modern technology, engineering,
advanced mathematics. The rocket scientists. The super-geeks. This is the
end of the spectrum that I try to inhabit. Since I have no natural trading
ability, I'm trying to capitalize on decades of geekism.
Then, there are all the shades and mixtures in between these two extremes.
You can probably find many success stories in here.
However, I don't think you can necessarily back up the statement that
people who boast aren't making money. In general, we like our heros to be
modest. Thus when Michael Jordan turns out to be a very elegant individual
as well as the greatest basketball player of all time, we're pleased.
Similarly, Tiger Woods' unassuming behavior is appealing. However, there
are successes who never tire of reminding us of that fact. Remember Muhamed
Ali in his prime? Now, he's everyone's nostalgia hero. It wasn't that way
30 years ago. When a public figure is successful and arrogant, we seem to
all root for that person's downfall. But the "success gene" isen't
necessarily tightly linked to the "modesty gene."
Allan
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At 10:45 AM 8/30/98 -0500, Robert W Cummings wrote:
>
>You have many who try and fail at this game called trading so you have to
>ask the question what really makes a good trader. Is it the mathematician
>or the software scientist who stands the better chance armed with a
>computer to rule the pits. What about the floor trader isn't his advantage
>enough to insure him success and make millions. What about the guy who
>claims years of experience trading could that be the secret. What about the
>guy who reads all the latest trading books does he carry the advantage with
>his eagerness to know all. The computer puts a new spin on trading I think
>shows how hard trading has always been through test results done truthfully
>and correctly. I can tell you this people who boast are not making money,
>sure maybe have a had a few good weeks and months and this success is hard
>to control. When success first happens they have to talk and we listen then
>something happens they just fade away as they came. What about the guy of
>late and his claims of success showing 74% on thousands of trades in the
>S&P. He say's publicly I'm not selling anything yet privately it appears he
>is indeed selling a few of his 18 masters. I'm wary of the guy who says I
>have the answers but its not for sell in public and privately is looking to
>sell he indeed is a true predator. Thats why I find humor
>when he tries it on this list, what a rude awaking he is in for. I believe
>all the above is true to make a good trader as long as they stay focused
>work hard. To me trading is a lot like life so understand how to trade you
>have to trade and you got to lose so you will learn how to win and just
>maybe you'll have more wins than losses. To me this list is very important
>because in my weak moment I might belive a guy like this and buy his system
>but yet worse trade it. Thanks to people like Pierre Orphelin, Mark Brown
>and all the others that chase the spammers away.
>
>Robert
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