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You are right, I'm in a funny mood today and there are clearly issues that I have been cheeky about. I shouldn't be jumping into threads I haven't fully read.
Truth is, I have played many roles and can relate to most on some level. I have experienced real struggles with things others around me *seemed* to get, trading included. I have a foot out of my career as I love this; however, I am fairly well networked.
It's not gambling to me, it's math. It's an equation with changing variables.
Ok I should have separated the first line re @Redhouse from the general point I was making.
DK-5/10 for Rory. haha.
However, if other people really value your insight (and are not just buttering you up to do their work for them) then I recon thats a good part of the right stuff. Mike put it very well, after the brains, most fail as they have never worked hard. If other people have told you to stop working and go home as your doing too much, especially if they are the one paying you, that is a good sign.
Self confidence is nice however other people having regularly shown a willingness to put trust in you is the important bit.
It's important to live in the real wold if not, as you say, charismatic. Economics are important even if economists are idiots. I am highly specialized (low supply) in an area with demand. That's why I am presented with opportunities.
This is why the charismatic and really good looking are crazy. Still not sure why I'm crazy.
Your not going to like my answer, but it is....A great deal of time.....thats it.
It's how you spend your time or what you spend it doing while trying to "learn" that is the deciding factor.
How to get consistent? go through a years worth of market replay and then do it over and over again and yes that is going to take ALOT of time. If you where to do this you will on ur own know what to do next without any of us having to tell you.
This is pretty much what was told to me, i felt it was unfair but its the truth and im better off from finding most of my answers on my own terms, there was still help from kind people and even some offered answers but i was either not ready or didn't understand what they ment which was the majority of the time.
Son a Bit*h now ive gone and deviated away from my journal and the train of thought i was in durning "market replay" :P gonna take a bit to get back into that mindset.....mite aswell go for a slurpee run, -30c check....truck wont even be warm by the time i hit the slurpee store check......frozen tasty treat on a frozen day, check.....to be canadian
I was not thinking at all about front running. And yes, obviously everyone has to see the same thing/set up.
Would work better if it was automated and therefore a computer puts in the trades. You can debate/argue all day long about slippage/fills/one person has a faster data feed etc etc etc but that isn't the point here.
I wasn't being specific at all or trying to get in to a conversation about why such a thing couldn't (or doesn't) work .. just pointing out that there are things to think about within that entire "my treasure map and you're not fucking having it" thought process.
There is no "treasure map" is the problem many often need to understand. I am not saying you don't understand this of course, I don't know you.
Many in the training industry over simplify and dissemble to sell books and courses. If anyone saw a book that read "play professional violin in the philharmonic! just three easy chords!" they would laugh. The same thing happens in trading and experienced traders (feeding themselves anyway) are asked to be serenely patient with it. The stock "you can do it if you try hard" comes out to deflect from being confronted with an angry and bitter man. My guitar teacher was pretty scary some days but I accepted that as a cultural norm. One day and surprisingly quickly he said my homework was to interpret music my own way and told me to come back in three months. I trusted him and did what he asked.
I've tried to teach several assistants, I was a professional trainer at one stage so I'm not awful. Out of maybe 20 (12 I put effort into), a couple sort of did basic study without being nagged every two days. The one who is now a rich trader? I gave her some notes, taught her how to use replay etc. and half forgot she existed as she did not contact me. Over six months later I get a call , "I have what you told me to do mastered, what next?".
My closest thing to a map for me personally is the attached diagram. I picked up enough from others to understand the rules of trading, I've figured it out myself since then.
@Rory when I was referring to the treasure map I was talking about the post by @farmer55
Very cool pic. I've gone through it in other stages of life, as have most people when learning a new skill or profession. Most people just don't actually think of it in that way.
I sent it to one guy and he got in a massive huff over the word "incompetent" being used. Some people are just totally useless, with 7.4 billion and rising fast, more and more never once experience being outside the first standard deviation at anything even with some raw talent. "You can do it if you try hard enough" is the new opiate of the masses maybe
I saw a similar pic (exact wording tho) years ago. I've shown it to apprentices of mine (I'm an electrician) and most don't get it. They have an entitlement mentality and just don't seem to understand that they have to work and practice to be good. Eventually most figure it out, but I've met journeymen who still haven't gotten there.