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What was your biggest misconception?
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What was your biggest misconception?

  #31 (permalink)
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My biggest misconception was (roll drum...) price is at support, it can't go lower.

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  #32 (permalink)
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trendisyourfriend View Post
My biggest misconception was (roll drum...) price is at support, it can't go lower.

I was pondering your statement. What factors do you believe lead you to this misconception? Lack of trading experience? Not enough back testing? ???

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  #33 (permalink)
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sledmt View Post
I was pondering your statement. What factors do you believe lead you to this misconception? Lack of trading experience? Not enough back testing? ???

Cognitive biases which may sometimes lead to perceptual distortion.

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  #34 (permalink)
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Easiness of using past price action to predict future movements.

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  #35 (permalink)
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Cornix View Post
Easiness of using past price action to predict future movements.

You thought it would be easy and it's not or it was easier than you thought?

It is hard to find the Truth when you start your search with a preconceived notion of what the Truth will be.
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  #36 (permalink)
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deaddog View Post
You thought it would be easy and it's not or it was easier than you thought?

Finding an objective edge in liquid financial markets is one of the hardest tasks in the world it turned out. Most people who start trading are either lured by advertising or read books from like 80's or tech bubble of 90's when markets, especially stocks were so much different.

I was amazed, when had a chance to compare trading CME futures to trading physical goods. The latter is like money on the floor compared.

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  #37 (permalink)
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Cornix View Post
Finding an objective edge in liquid financial markets is one of the hardest tasks in the world it turned out. Most people who start trading are either lured by advertising or read books from like 80's or tech bubble of 90's when markets, especially stocks were so much different.

I was amazed, when had a chance to compare trading CME futures to trading physical goods. The latter is like money on the floor compared.

Do you believe some of these misconceptions could have been eliminated by good back testing or is it some thing that has to be learned in the market?

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  #38 (permalink)
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addendum to my previous post:

Another misconception: Indicators will predict what will happen in the future. Seriously wrong on this count. Discovered indicators are nothing more than a historical record of whats already has happened. No wonder they don't work!!

Robert

nosce te ipsum

You make your own opportunities in life.
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  #39 (permalink)
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I thought I only needed 5k to be rich!

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  #40 (permalink)
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I used to think that the markets were 100% fair and equal for all participants...(no stop running, no fill advantage, no front running, no size hiding etc)...now I know that when big money is involved, anything that they can get away with, is acceptable !

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