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Nice post. I agree completely and could not have said it better.
Bob
At 04:46 PM 5/5/2001 -0600, you wrote:
>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:
>realtraders-unsubscribe@xxxxxxxxxxxxxxx
>
>
>
>Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
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