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I thought Norman brought out some interesting points that I have to
agree with. I make my comments below those points.
nwinski wrote:
I barely scraped thru 8th grade math and probably flunked that
> IQ test. Interestingly, it is my understanding that Albert Einstein
> flunked 8th grade math. But there is a funny correlation that I have
> observed that pulls all of this together.
<snip>
> I noticed after awhile that the more degrees and education
> they had the worse they were at trading.
<snip>
> ... the most successful and wealthiest
> traders at the CBOE and the CBOT were lucky if they got thru highschool.
> Many of these top trades were former cab drivers and newspapers stand
> people. So why did the overeducated ones do so poorly? I noticed that
> they tended to overanalyze everything.
<snip>
This is interesting and makes sense. I have no degrees. Didn't feel one
was needed. It wasn't. It seems that some do over analyze a bit. Could
it be due to their college experience? Maybe. But it appears that there
are many without 'higher' education that tend to excel in this field of
trading. Why? Possibly because they are not boxed into a narrow way of
looking at the markets. They may not have been pre-programmed by
'higher' education that the market has to be this way or that.
Now of course this does not apply to everyone, and 'higher' education is
just great in my opinion. I highly respect those who had the endurance
(and money) to go through several years of college to attain those
documents. I wish I could have, but I was out on the street by 17 and
had to start earning.
> Albert flunked 8th grade math. He said the key to his
> genius was that he never grew up, that he was still a child at heart.
<snip>
Deja Vu? As mentioned from articles I posted here last year, you have to
have FUN! I'm having a BLAST! How else can you continue even after a
just a few losing trades if you let things get to you? My wish is that I
can continue to have fun so that the wins will be that much better! Sure
it is a business, you don't have to tell me. It is my business. But I
only do it because it brings out the child in me to have FUN! Oh, and
profits are okay also. :)
> Albert Einstein took a profound concept, relativity, and made it simple.
> Albert even wrote a simple example of riding on a train that I could use
> to explain to my 5 year old son in about one minute, so that he would
> understand relativity.
<snip>
Now, forgive me if this sounds religious, but it is not meant to. But
this point should make sense especially to those who are religious. In
the Bible you can read of the life of one whom many consider the
greatest teacher of all time, Jesus Christ. As the son of God, he should
be the genius of geniuses, right? Yet, did how did he teach? By using
very SIMPLE illustrations that everyone could understand when dealing
with tough concepts (what could be tougher to comprehend than the
subjects he was dealing with?). The point is that he did not use big
terms or felt he had to to help others understand. He used SIMPLE terms,
he used objects they were FAMILIAR with. Now his audience wasn't just
simple fishermen or carpenters either. He had very sophisticated people
listening as well. Luke was a Doctor, Matthew a tax collector, and the
Scribes and Pharasees were 'highly' educated, well lettered men.
Everyone was taught the SAME way. Oh, and he didn't feel he had to tell
everyone he was a genuius. This they could discern by themselves. His
genuius dictated that SIMPLICITY was the best way to teach. Whether you
believe his existence or not is irrelevant. The lesson is clear.
So, the point is that talking way above others heads and using big
words, etc., is really NOT a sign of TRUE genius. It is more a soapbox
display of ones idea of himself.
If you want to do well in trading, you MUST keep it simple. If you want
to teach others, you need to express it in SIMPLE terms. Move away all
the cobwebs. Stop getting so frustrated at all the squiggly lines on
your charts. Clear them off and start clean. Use what works and don't
pile it on. Make sure it is SIMPLE and FUN, or look to do something
else.
> Simply,
>
> Norman
Cheers!
:)
rick
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