I've been saying this to several people for a while. A large sample size is needed before success can be affirmed.ruthlessimon wrote:recommend watching this vid: https://www.youtube.com/watch?v=j1X2hPcLga4Trader_Tom wrote:I would rather put my money in the hands of someone who was mentally solid and had a very slight edge in the market than someone who has great market analysis but is reckless with their execution. Like with most things in life, balance is needed.
kahneman - "if the reckless guy succeeds he will be seen as having 'flair' & a 'genius', even if the risk was unacceptable."
so true!
I was trying to explain to a friend about the importance of this but it was pretty lost on him. With a small sample size it is easy to be convinced that you have been successful or unsuccessful. It is more dangerous for unsuccessful people to have been lucky though as any losing streak can often be ignored due to a very good start.
Cracking video. Thanks for sharing =]