In my opinion, it's never an advantage not to know something, it's just that knowledge is sometimes not as advantageous as one might think. What we really need to do is know the full extent of the usefulness of our knowledge when applying it to trading and where it has no use.Morbius wrote: ↑Mon Oct 26, 2020 8:15 pm
Seeing as fundamental knowledge is far less effective in what is a highly mathematically modelled sport then knowing nothing is not a disadvantage but an advantage. As traders then concepts span all markets and sports and any trader who can only trade one market is on shaky ground. It's simply a case of learning the market nuances....I think I may run that course after all Derek
Trading What I see !?
Analogy time......my missus has been in sales all her life. I have it on good authority that her sales technique is exceptional as she often gets head hunted. However she has only ever sold the same product. So she has zero product knowledge of anything else she may sell. But that didn't stop people head hunting her from other fields.....why.....because product knowledge is the easy part and can be learned in a short time frame. The hard part is selling which many experts claim is an art form but she would out perform someone in a different field very quickly if all they had was product knowkedge and no sales skill...it's the same principle. As a trader who is successful in one area then you already have the knowledge to trade.
I would back my footballing knowledge against anyone on this forum but how much of that would be relevant trading football.....probably very little and what I did know may hold me back.
.Derek27 wrote: ↑Mon Oct 26, 2020 8:39 pmIn my opinion, it's never an advantage not to know something, it's just that knowledge is sometimes not as advantageous as one might think. What we really need to do is know the full extent of the usefulness of our knowledge when applying it to trading and where it has no use.Morbius wrote: ↑Mon Oct 26, 2020 8:15 pm
Seeing as fundamental knowledge is far less effective in what is a highly mathematically modelled sport then knowing nothing is not a disadvantage but an advantage. As traders then concepts span all markets and sports and any trader who can only trade one market is on shaky ground. It's simply a case of learning the market nuances....I think I may run that course after all Derek
That's a much better way of phrasing it
Some of the worst pre-off racing traders I know are highly knowledgable on racing.
When I would run courses I would describe what I saw in the market...
I'd say something, this horse is getting a lot of backing support so I'll back it looking for it to shorten.
The very knowledge types would pipe up with something like... But that makes no sense it's going to lose! Out would come various reasons why it couldn't win. They couldn't go against that instinct.
But it's the same with people who are too intellectual, they can't take the risk, they over qualify everything. I'm surprised they have ever crossed a road!
When I would run courses I would describe what I saw in the market...
I'd say something, this horse is getting a lot of backing support so I'll back it looking for it to shorten.
The very knowledge types would pipe up with something like... But that makes no sense it's going to lose! Out would come various reasons why it couldn't win. They couldn't go against that instinct.
But it's the same with people who are too intellectual, they can't take the risk, they over qualify everything. I'm surprised they have ever crossed a road!
That's not a bad way of settling this random discussion, if you're suggesting that it's better to be Jon Slow than an intellectual. That's going to be my key takeaway!
Euler wrote: ↑Mon Oct 26, 2020 9:46 pmSome of the worst pre-off racing traders I know are highly knowledgable on racing.
When I would run courses I would describe what I saw in the market...
I'd say something, this horse is getting a lot of backing support so I'll back it looking for it to shorten.
The very knowledge types would pipe up with something like... But that makes no sense it's going to lose! Out would come various reasons why it couldn't win. They couldn't go against that instinct.
But it's the same with people who are too intellectual, they can't take the risk, they over qualify everything. I'm surprised they have ever crossed a road!
I can well imagine the scene in your trading room
The problem with people is that they simply cannot think in probabilistic terms and stochastic events confound them. They want linear results in a non linear world but also IMO ignore the fact of what their very own life experiences teach them. Life itself is trading and uncertainty and probability surrounds us everywhere including being reminded constantly that knowledge that we had didn't mean what we thought it meant
You can't be an intellectual if you can't take risk because if that's the case then you aren't an intellectual on trading at all because proper trading comes very close to eliminating risk with proper diversification and risk control systems in place. The risk as Euler put it isn't the issue....it's the perception of risk that's the issue
Don’t forget the KO’ing of yourself if they suspend the market for the full match when just entering your trade
And there's no binary outcome with this Kai. The taking on of risk is a knowledge coupled with experience issue. Imagine having to drive 100 miles up a busy motorway. Clearly there is risk in doing so for everyone but the systems put in place by experienced drivers mitigate this to close to zero but to a learner the risk may be too much or even to the person who over states the risk.....paralysis by analysis
Trading is no different....risk is higher with a lack of specific knowledge
Thread is getting off track so my last word
Trading is no different....risk is higher with a lack of specific knowledge
Thread is getting off track so my last word
- speedyhamster
- Posts: 119
- Joined: Fri Sep 22, 2017 9:58 am
going by the review on amazon i have purchased https://www.amazon.co.uk/gp/product/B00 ... UTF8&psc=1 which is cheaper which i have just started to read i will get back to you when i have read itauto-matt wrote: ↑Sun Oct 25, 2020 10:43 amGreat post, have you read the book by any chance and if so would you recommend it?speedyhamster wrote: ↑Sat Oct 24, 2020 12:06 amabout mindsets
https://www.brainpickings.org/2014/01/2 ... k-mindset/
You don't have to worry about me Professor Morbius, I am no stranger to risk and I take on plenty, if not with my trading then at least with my posting.Morbius wrote: ↑Mon Oct 26, 2020 10:18 pmAnd there's no binary outcome with this Kai. The taking on of risk is a knowledge coupled with experience issue. Imagine having to drive 100 miles up a busy motorway. Clearly there is risk in doing so for everyone but the systems put in place by experienced drivers mitigate this to close to zero but to a learner the risk may be too much or even to the person who over states the risk.....paralysis by analysis
Trading is no different....risk is higher with a lack of specific knowledge
Thread is getting off track so my last word
Well that was almost fun, have a good one
Just been watching Einstein and the Theory of Relativity on Prime Video, a good watch if you like that stuff.... I get back here and you've gone all intellectual or not .... It depends on your relative frame of reference....??