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Happy new year
:):)
Happy new year to all![](https://c.mql5.com/forextsd/smiles/smile.png)
Happy new year to all traders
:):)
To Everyone have a happy and prosperous 2014.
Merry New year to all at FXTSD
and a big thanks to Mladen and Mr Tools for their never ending hard work
(hopefully the powers that be might give you both a bit more time off in 2014)
Are All Traders Useless Morons?
Over the holiday vacation, I try to kick back a bit, unwind, recharge the batteries. But I still scan my favorite media sources and blogs for interesting ideas.
One that stood out was a short post from Greg Harmon of Dragonfly Capital. Titled “We Are All Useless Morons that Suck,” it actually made me laugh out loud. Greg fearlessly pointed out a truth that is ignored by all too many investors: This trading thingie is really not your forté:
Now, obviously, no one has perfect knowledge to be able to pick the best stock of the day (or week or even month!). And swinging any type of size around would have resulted in much worse entries and exits. But the point is that as traders, we don’t come remotely close to the Platonic ideal of the gains that are potentially available on a daily basis. Indeed, anyone picking up a mere 1/100th of a millionth of what is available in the markets is considered a superstar trader.
That should make you realize a few things about your chosen profession or pastime. First, it is a very, very hard task we set for ourselves when we engage in active investing or trading. Speaking statistically, the Beta seekers of the world have a huge advantage over the Alpha chasers. Forget outperforming the market, merely outperforming the median of your peers is a huge challenge.
Second, even the best traders must constantly seek to improve their skills, knowledge and tactics. The markets are an ever-changing environment; what worked last year may not necessarily work next year. Given how much of that 26.4 billion percent Alpha you left on the table, there is plenty of room for improvement.
Last, the markets will keep you humble. Woe to the market participant whose hubris offends the Trading Gods. One must be constantly on guard not to let success go to one’s head. All of us have too many war stories of other traders (never ourselves) who allowed a string of successes to go to their head. That sort of arrogance usually leads to a painful lesson in humility.
Harmon bluntly discusses the importance of modesty in pursuing investing success:
That sums it up perfectly for me: One, have a process, and two, constantly try to improve it.
Happy New Year. Try to suck less this year . . .
Are All Traders Useless Morons? - Bloomberg
Happy new year. This year would be better.
This year would be the great year for everyone.
Happy new year to all![](https://c.mql5.com/forextsd/smiles/smile.png)
Happy Chinese Lunar New Year to all.[TABLE]
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