Wall Street Truth 6: If you are smart, it is going to take a lot longer
I havent seen much correlation between good trading and intelligence..
Many outstanding intelligent people are horrible traders. Average intelligence is enough.
- William Eckhardt
You are nothing but a trend following moron
- anonymous
I havent seen much correlation between good trading and intelligence..
Many outstanding intelligent people are horrible traders. Average intelligence is enough.
- William Eckhardt
You are nothing but a trend following moron
- anonymous
If you are reading this book, you are of above average intelligence. How do I know this? First, fields with the potential for large gains attract the brightest of minds. The second reason is not as flattering. When it comes to the markets, the vast majority of the population does not read. They depend on the television media for their education. Unfortunately, the aforementioned unrelenting positive bias and constant logical correlations to news and fundamentals can make for very costly lessons. But I digress. My point is that since youve gone one step above watching TV for your trading education, I can say with a high degree of certainty that you are above average intelligence.
Before you start patting yourself on the back, I have some bad news. Since you are smart, it is going to take a long time to become successful in the markets. Unless you happened upon oil in your back yard, every success in your life has likely been approached with logic. In trading there often isnt any. You are dealing with the fear and greed of market participants. Markets trade on human emotions, not logic. Trying to figure out the reasons is an exercise in futility.
Credit: Dave Landry
