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I think the knowledge can be acquired more readily. It's the psyche that is
the main culprit. The discipline to manage emotions of greed and fear is an
ongoing process.The other culprit IMO is the ongoing quest to find some
system that is infallible rather then sticking and focussing on what works.
Dom
----- Original Message -----
From: "EAdamy" <eadamy@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Saturday, May 05, 2001 6:46 PM
Subject: Re: [RT] WHY...Trading Profession?
> 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..!
> >
> >
> > To unsubscribe from this group, send an email to:
> > realtraders-unsubscribe@xxxxxxxxxxxxxxx
> >
> >
> >
> > Your use of Yahoo! Groups is subject to
http://docs.yahoo.com/info/terms/
> >
> >
> >
>
>
> To unsubscribe from this group, send an email to:
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>
>
>
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>
>
>
>
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