General discussion : Time for me to Make a Decision

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mcgoo
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Joined: Thu Jul 18, 2013 12:30 pm

Sun Aug 02, 2020 9:28 am

eightbo wrote:
Sun Aug 02, 2020 9:19 am
Disagree with you on this one.

Imo emotional control (ability to perform your edge accurately/consistently) is the more valuable skill than edge, as humans are good at pattern recognition if you put in the hours and are methodical you'll stumble into something which pushes you into slight profitability then you can build from there.

The other way round doesn't work. Hand a few new guys your legendary edge and let's see them produce profitable results. Come on, it's laughable. You see the world through your beliefs first then apply reason after that. When they catch the inevitable loss with the wrong expectations/beliefs it's going to tap into all kinds of trouble and they won't be able to execute what you've given them so the edge is rendered irrelevant at that point.
Interesting point.

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Kai
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Sun Aug 02, 2020 10:48 am

Haha alright, no need to get pissy. First thing I said above is that I like to keep an open mind and maybe I really am underestimating the mental aspect of it all, time will tell. I already know you disagree so no need to worry about me trying to impose a different approach on you, I'm only offering a potential alternative approach if anyone finds this one too difficult. You're clearly just as passionate about your own beliefs and will probably dismiss other stuff anyway, I know it's already like the third time we're talking about it and if all you're hearing is some guy saying "my approach is best, others suck fyi" so I get if that sounds annoying for whatever reason, but you've been sort of doing the same and that's what the forum is ultimately for, if everyone thought the same then there's nothing left to discuss, but this thread/discussion has probably run its course and maybe I was too forceful with what I was trying to suggest or used the wrong words.

You're saying "my" approach can't work and that it's a laughable one, which is fair enough I guess and not an unexpected reaction tbh, although I never said yours can't actually work because I know there's more than one path one could take, I was only suggesting that it may not be as efficient as it seems, which ironically may be the whole point to make it as efficient as possible.
eightbo wrote:
Sun Aug 02, 2020 9:19 am
The other way round doesn't work. Hand a few new guys your legendary edge and let's see them produce profitable results. Come on, it's laughable.
You can ask about this in private if you want, but in short yes, I did give a few guys my edge or parts of it or someone else's edge and some of them did make it work (some fulltime) and a couple are registered forumites here, so I'm not exactly theorycrafting here, just sharing some of my own experiences and the experiences of close people around me, plus whatever insights I gained from other traders and so on. Why would I be passionate about theorycrafting about controversial issues from a very narrow personal perspective? That'd be silly, although I can admit that I was sometimes shocked by the sheer size of mental blockades and gambling habits that some of my friends exhibited and at times couldn't understand the source of it. There's nothing legendary about my edge whatever you're referring to but I do believe/know that if you give someone a strong enough edge then there should be enough "spillage" in it to make it work eventually, including muscle memory parts through enough practice with clear instruction (like from the Psychoff course). If that's laughable then mentoring could never work and Peter or Psychoff or Rebelo could never teach anyone anything and transfer parts of their edge to anyone.

To sum it up you simply think HEAD > EDGE, while I think EDGE > HEAD. Someone else might think HEAD = EDGE, so it's a perfectly normal thing to disagree on and I'll leave it at that.

eightbo
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Sun Aug 02, 2020 11:14 am

Hi mate did not mean any offense, never do. Laughable because it's my understanding that there have been many cases of financial retail traders who buy legitimately working edges or study under someone profitable yet still fail in the presence of all the technicals. Iirc Peter has dalso mentioned a couple accounts of showing someone the process of trading only to observe they struggle to execute. That said I'm sure there are cases of it working, too just probably in the minority overall I'd imagine.

When it comes to opinions think it's best to just offer what you can and the reader picks the one that resonates with them the best. For example loads of people have offered up something in this thread which could be useful to someone else's individual case as they come along but not necessarily to OP or the other way round.
Don't think someone can be right or wrong here as too many variables from person to person can't see one case fitting all for manual trading. Something interesting is I can remember coming across material online and also a visualisation I created for my trading which were both formed of broken logic, and yet they clicked on the emotional level, they "felt" right which spawned the underlying confidence to follow that framework or way of thinking, ultimately realising the full potential of that particular edge. It's as you say I may dismiss what you say and vice-versa and that's fine. If we didn't that underlying confidence would take a hit, doubt can then creep in and get in the way resulting in something like system hopping but for ways of thinking lol

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Kai
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Sun Aug 02, 2020 12:20 pm

eightbo wrote:
Sun Aug 02, 2020 11:14 am
Don't think someone can be right or wrong here as too many variables from person to person can't see one case fitting all for manual trading.
Yup, you said it better than I did. More than one path to take so both can be right or both can be wrong, for one person EDGE > HEAD might be true but for another HEAD > EDGE might sound like truer words never spoken.

I can reach a compromise and say that I feel like generally EDGE > HEAD, unless a person is a gambling degenerate and the type to gamble the house away, in which case I would probably agree that HEAD >>> EDGE might be more appropriate :)
eightbo wrote:
Sun Aug 02, 2020 11:14 am
When it comes to opinions think it's best to just offer what you can and the reader picks the one that resonates with them the best.
Exactly, that's all any of us can really do. Offer opinions on what we know and what we think we know, and my wild theories or things like that I think I'd rather keep to myself :mrgreen: I inject a bit of passion into everything I do by default, even into writing a simple post apparently, so I imagine that may come off differently depending on who might be reading and it's possible I may offend or insult someone unintentionally in the process, despite having good intentions etc. No idea really if that was the case here somewhere in the thread, towards you or OP, but I'll apologize just in case and repeat that I'm happy to send something concrete to OP (like an edge) if he thinks he can make use of it. Peace

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