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The snake-oil salesmen are able to con us because they prey on our desire
to win, and to have it come easy. One of the greatest obstacles, in my
opinion, to success in trading is, that you have to be pyschologically
adjusted to losing as a way of life (i.e. taking losses) , to being not
right repeatedly, and to a life of discomfort (i.e. taking on risk instead
of lying back and letting someone else pay you for robot work.) On top of
all this you have to take personal responsibility for all this. No-one does
it but you and you alone.
The most difficult learning is the psychological one. We are all brought
up in the sheepish, follower mode. You can't trade that way!
All the cons that I have fallen for have helped me in one important way:
to wake up to my own responsibility.
David Cicia
At 06:47 PM 7/16/98 +0200, bullcom wrote:
>Tom,
>
>I canīt really agree with you - oh, I do on the snake oil salesmen thing
>- but I
>believe anybody with an IQ higher than a tomato can learn how to trade
>successful. We surely are lucky to be in this business, but its nothing
>we could
>use to make us somehow special. The ability to learn and flexibility are
>some
>ingridients you might have or have not and that might influence how fast
>you
>become how successful, but I donīt believe some people just can never
>learn it.
>All a question of how much of yourself you are willing to give up to get
>where
>you want.
>Trading successfully has its main reason in the psychology you are in
>and the
>normal mindframe we get born into and are raised, just is pretty much
>opposed to
>trading. So if you can live with changing your thinking and behavior,
>you can
>succeed in anything, including trading.
>
>Snake oil salesmen are just the guys, who look for the easy way, since
>holding
>into it just isnīt there thing - to bad for them.
>
>Regards - Ulrich
>
>
>
>
>
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