Disliked{quote} I don't want to deny that consistent execution is important, but if what you're doing simply isn't producing the desired result, 100% consistent execution will only waste your time.Ignored
Consistently profitable trading is the result of successfully following a process. Trade, assess, revise, repeat is the process.
Disliked{quote} therefore also disagree with the often quoted line from Malcolm Gladwell's book "Outliers." It states, "It takes 10,000 hours to become an expert." To me, that's generalized BS. If you spend 10,000 hours learning the wrong thing, it will gain you absolutely nothing except a lot of time.Ignored
And scratch isn't good enough to compete on the PGA tour. And most who reach scratch will never reach pro level skills no matter how many thousands hours he or she practices.
And trading is similar. Some will reach consistent profitability in short order, maybe 2 years or even less. A few others will get there after long struggle and practice. Of those, few will profit to the tune of 80 to 100 million dollars in a decade or less as a few of the elite have done.
And since that isn't what matters I don't know why you brought it up. Just more over thinking perhaps? I re-read Blue's post and nowhere does he suggest thousands of hours is the answer.
It is skill. What skill? The ability to execute a trading plan without fear or over confidence by staying focused upon the process of trading rather than the outcomes. So long as you are enamored of and stuck in back testing and simulations you remain addicted to and obsessed with the outcomes.
Disliked{quote} Show me what to execute i’ll execute it a 100 times exactly the way you describe it. Let’s find out if that will make me reach my goals…Ignored
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