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Agree with you 100%...summed up beautifully!
Stephen
EAdamy 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:
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>
>
>
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