Nov. 20 at 11:52 PM
Realistically you do not have to be insanely “smart” or even overly financially literate to be a profitable trader, just have basic common sense, emotional discipline, and the ability /discipline to stay informed to changing parameters to make educated guesses.
At its core a career in trading is simply an amalgamation of binary choices, ones you either will make or lose money on. The market is dynamic and there is will always be an innumerable amount of unforeseeable factors completely outside of a retail trader's control. A trader can really only do so much to put themselves in a winning position, there is an element of luck to each trade that makes the pursuit of perfection essentially meaningless. It has never happened and never will, and as such, there is diminishing returns in regards to time spent on DD and even total thought given to a play. More does not always equal more effective.
For example, I've made a TON shorting
$RGTI and
$QBTS despite really knowing NOTHING about the inner workings of how a QC works... and if you gave 95%+ of this board a truth serum, they wouldnt either. The beauty about trading though is we don't actually NEED to when we know
- The companies went up thousands of %s in a year despite no meaningful revenue
-Both have paltry amounts of insider holds. When a CEO doesn't own any of his own company that's typically a bad sign.
- Both their headquarters look like homeless shelters
-There are only so many uses that make QC cost effective, and big boys like
$GOOG /
$IBM can out R&D budget these small fries without any real difficulty. If they actually had good products they would have been bought out a long time ago and there would be demand. Instead, the big boys went internal
That's all you really needed to know, and it was more than enough. And even if it didn't work out, it still would have been worth a try because all signs pointed to it being so. Again, perfection does not exist, game theory and systemic rules to insure proper risk tolerance to potential reward do.
People genuinely over complicate trading. I've lost count on the amount of nerds with superiority complexes about their new TA indicator or algo... only to check in six months later and see they've given up. If there was a one size fits all solution, everyone would do it. There isn't and that's why 90% of traders cant even fucking beat
$SPY
None of this stuff is actually as hard as people want to make it.
