Hi,
I wanted to start a topic based on the article from Mr. Crooks on BabyPips today and would like to hear your experience. I agree with him, less is sometimes more. As I started trading Demo, I had also too much indicators and I made a lot of bad trades. You’ll get that with time, but it is maybe deterrent for some newbies as it seems confusing. Find a strategy that works for you, some people won’t maybe use indicators, and spend a lot of time in Demo with that strategy. 
I think the “catch” is that trading requires a unique type of intelligence that allows the trader to see and trade the market in terms of Probabilities rather than absolutes. and the most important factors, patience and discipline, aren’t really related to intelligence at all.
I really like the market’s way of “grading” us too. If you are losing money (consistently over time) you’re failing, and if you’re making money consistently you’re passing.
Being “smart” doesn’t mean you will make money in FX
but it probably helps
Not only FX ( Trading in general and even investing, remember the fund run by bunch of PHD?? )
Its probably better to say being “smart” doesn’t mean you will succeed in life. Especially if one lacks mental strength etc.
Just my 2 cents worth though.
Quite right, being smart alone rarely leads to sustained success, as it must be coupled with other strengths, depending on what one is trying to achieve. In some professions, being smart must be coupled with strong interpersonal skills, in others one might need a good eye for detail, or a head for heights, or whatever. In terms of trading Forex, as a previous poster has said, simply being smart will not guarantee a winner every time. However smart you are, if you can’t deal with losing trades and can’t control your emotions it will just not work out.
I think the blog was making the point that smart people tend to over think and over analyze. As someone who has a way above average IQ I can tell you it can be a hindrance sometimes but it can also help sometimes…
Lol my bad - will leave others to decide whether I over- or under-thought my response!!
I agree wholeheartedly here. It also explains the “beginners luck” phenomenon – people who are raw jump into trading and they get a successful response, which then reinforces a behavior (which may not be appropriate for long-term trading). Then as they consume more, I think their “smarts” can actually become a hindrance. There really is value in the cliche “keep it stupid simple”