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10,000 hours, really?
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10,000 hours, really?

  #61 (permalink)
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DionysusToast View Post
I'm not so sure.

16-18 hours a day could be a sign of a serious obsession, not a healthy learning experience.

Not that this is necessarily the case with Massive. Just that throwing hours at something could be an obsession and certainly is not productive.

A look around these forums and you can see people that are totally obsessed with trading. I don't think this is a requirement for success.

I've been on tight schedule projects and still kicked people out of the office who'd pulled 12 hours and wanted to stay. You end up with diminishing returns when you put too much into something.


Totally agree with DT. A lot of very unhealthy obsessed people on this forum looking for answers from other obsessed and in many cases mentally Ill people. I actually hacked at ta for some years 16-18 hours per day. I've been surfing every day now for weeks and now and seeing how insane the people of this forum are. The saddest part is the industry of lies that preys on this kind of ignorance.

Back to the topic of this thread, I recently read the book one good trade by mike bellafore, CEO of smb trading in NYC, a real prop firm that backs real traders. They don't ask you to pay them anything, they train those they think will succeed, in most cases they lose money in the training stage, as expected. You can read the book, they take a lot kids directly out of college, and have them trading profitably in three months to a year. When I was at Merrill lynch I used to hear that the new prop traders generally lost money in year one, but never year in year two, and certainly not year five.

Anyways, I suggest reading the real book by the real traders at the real prop shop rather than looking for the answer from other pontifitcators and journeymen. Only people who want you to dive deeper into your obsession with reaching 10000 hack hours are those who make money from your mental illness, hopes and dreams... Wake tf up...

Man I love the ocean....

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  #62 (permalink)
Market Wizard
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Damn -@syxforex that post might well be even less popular than mine....

I agree though.

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  #63 (permalink)
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If this upsets anybody come to cabo, surfs up, no bad days...

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  #64 (permalink)
Market Wizard
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Today’s trader is the most overwhelmed person in the history of trading. The platforms have created a perpetual paper trader, the educators have created traders who move from one method to the next, and the different software vendors also cause traders to move around from one method/platform to another. This is ALL in the hopes of finding the “right” consistent method.

The idea of a focus has gone out the window.

At some stage the attempting trader finally gets it. He starts the focus on the method that fits his/her personality (framework, time frame and frequency) learning a platform A to Z, ignoring the irrelevant info and focus on things that matter.

He starts to gather information from experienced traders and not those who know only 1% more than him/her. The process of tweaking starts and finally accepting the fact that not all the stars have to align to pull the trigger while simplicity could be applied.

The “getting it” part depends on the individual trader and would make the differentiation between the hours it takes to master it. When you “get it” might be 1K hours, 3K hours or 5K…after that the work begins. I must say that considering all the choices that traders have today 10K is reasonable. Bottom line is that the 10K hours is not always the learning part, sometimes it’s the hours of sorting the BS from the real content to learn from.

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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  #65 (permalink)
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DionysusToast View Post
I would sincerely hope that institutional money is not thrown at total noobs. Saying that, I have a friend that was given fund money to trade. That friend had never placed a trade in his life, he'd just worked with a star trader. The fund hoped some of that rubbed off.

Here is quite possibly an example of someone in a prop management position, rather than a trader's position, who did not master the art of management.

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  #66 (permalink)
Trading Apprentice
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I think a small trader with small capital need to invest more time than traders with bigger capital, as his 1 lot trade cant move market. Traders with banks will require less hours, and psychologically, have more confidence.

Therefore, to build up his money and confidence, the small trader need to be satisfied with small profits. After a while he can hold the position, looking for trends.

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  #67 (permalink)
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bwasi View Post
I think a small trader with small capital need to invest more time than traders with bigger capital, as his 1 lot trade cant move market. Traders with banks will require less hours, and psychologically, have more confidence.

Therefore, to build up his money and confidence, the small trader need to be satisfied with small profits. After a while he can hold the position, looking for trends.

I think you may have that backwards, while the big trader will probably have more confidence from experience, it is going to be harder to trade your full size know that you will move the market. If you buy and move the market up you can't sell unless there are other big traders buying from you and if other big traders realize this they will drive the market down and when they cover their shorts they will be buying from you as you puke out your losing position.

The small trader can peck around and be in and out of the market without anyone even knowing he is there.

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  #68 (permalink)
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mongoose View Post
The small trader can peck around and be in and out of the market without anyone even knowing he is there.


I like it.

I like it a lot

Our motto should be

"Small Traders - eating scraps & proud of it"

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  #69 (permalink)
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DionysusToast View Post
The danger as I see it with the 10,000 hours thing is that you might have people reading this thread, with 3,000 hours invested and NO CLUE about trading and no idea what moves price.

These people could, in theory, pat themselves on the back, double their efforts and tell themselves "only 7000 more hours to go" and continue making zero progress.

Simply because they are the 95% who will never make it anyway. Just life and evolution. Always and in every field.

Travel Well
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  #70 (permalink)
The Narrow Road
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ratfink View Post
Simply because they are the 95% who will never make it anyway. Just life and evolution. Always and in every field.

Hard ... but fair ..

podski

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