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IT:
> There are all of those out there looking for something for nothing.
BH:
> There are too many people looking for a
> handout when instead they should be looking for a hand up.
BH:
> why is this truly accomplished trader obligated
> to give his knowledge to you for free?
BH:
> Experience CAN'T be taught.
BH:
> Another point that needs to be made is that trading is not for everyone as
> much as some would like it to be.
JD:
> Show me someone who wants something for nothing, and I'll show you
> someone who will never have the mindset to trade.
As odd as it sounds, I happen to agree with all the statements above.
I've noticed a few characteristics about successful traders. First and
foremost, they are self starters. They don't need much hand holding to
get things done. They also tend to not have much reliance on "the
argument of authority".... so and so says it's true so it must be true.
They much prefer to look at the facts and make their own decisions.
The kind of newbies who are going to be successful traders quickly
realize that all the basic information they need to learn to trade is
available for free, or for a very reasonable price, in the public
domain, maybe as near as their public library or their internet
computer. The really really good stuff, that you can't find in the
library, isn't for sale at any price. They realize that they have a lot
of hard work ahead of them and nobody can do it for them, even if they
try to pay someone to do it. They realize that trading style is a very
individual thing and, more likely than not, someone else's style will be
totally inappropriate for them. They realize that they have to take the
basics and develop their own style.
The essence of trading is knowing the difference between a bargain and
an overpriced item. To paraphrase JD above: "Show me someone who wants
to pay for something that's available for free, and I'll show you
someone who will never have the mindset to trade. Show me someone who
wants to pay for something that's not available at any price, and I'll
show you someone who will never have the mindset to trade."
--
Dennis
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