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There is another aspect of learning which is unique to trading ... learning
to control one's own psyche. In most professions, one can apply oneself to
the books and classroom, pass the exams, complete the required on-the-job
learning period, and thereby become proficient and successful. With trading,
the class and book work is just the beginning and success in those venues
does not assure one of a successful career. The fields of trading and
psychoanalysis share a rather unique requirement that one learn to manage
and deal with ones own psyche in order to become successful. In short, the
basic rules of trading are very simple, but it takes most traders many years
to acquire the knowledge and discipline to manage greed and fear. Most
wannabe traders run out their account balances well before they would have
any hope of acquiring the knowledge and discipline ... and blame the losses
on their technique or system rather than their psyche.
Earl
----- Original Message -----
From: "Gentle Ox" <enchant@xxxxxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Friday, May 04, 2001 9:11 PM
Subject: [RT] WHY...Trading Profession?
> Why is it that everyone thinks that they can be a successful trader?
> What is it that motivates so many people to want to trade?
> Is it the money? the ego? the testeroserone? something else?
> And why do so many people feel they can learn the game in such a shot
amount
> of time?
>
> I know If I wish to become a doctor it will take me about 8 years,
> If I wish to become a barrister (Attourney) it will take me about 5 years,
> A engineer about 5 years.......
> I know that their are exceptions to every rule......
>
> From brokers I know world wide I am told that many of their clients
> disappear after 6 months because they have blown up....
> That only about 18% are successful and that includes 2%+/- they are
> incredibly successful.
>
> The better brokers say that apart of their role is education....but they
also
> say that they get frustrated by people who are in a hurry and do not
really
> wish to learn...
> A couple of brokers I know have left due to this frustration and are now
> successful prop traders for themselves or for companies.
>
> None of this inteded to offend anyone and if it does??
> the old saying "if the hat fits....wear it"
>
> Who cares anyway we need the liquidity in the market!
>
> Trying to be "Gentle" Ox...Stephen from Australia..!
>
>
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>
>
>
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>
>
>
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