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RE: Why do so many traders fail? The best traders are "insane" by definiton
great thought provoking piece. My problem has always been, I give advice that is more solid than the game I actually end up playing.
Objectivity is key in this game and that is where I believe most of us become unstuck. My plan in a cold state never seems to stand when in the throws of making important buy / sell decisions.
Human volatility is mirrored by that of the market.
Really great article though.
thanks for your feedback!
i smiled a bit when i read this:
In the beginning of my career I could really empathize with this thought... I felt the same way... Thats ultimately why I adopted algorithmic trading, because I could dispense "advice" via code to my programmable desk of robot traders ;-) Over a decade later, i see the greatest advice an old trader ever gave me was to learn a programming language.
Solid advice I should take and apply, thanks for it.
no prob! i would recommend starting with either python or R as good languages to learn. They're both ubiquitous in the industry, and are pretty much mandatory for a front office trading role these days.