Ever since I first stumbled across forex trading, which must be edging towards 2 years now, the thing that has troubled me most, or [I]‘unnerved’[/I] me most would probably be a fairer reflection, is the reportedly high failure rate in this business.
As I'm sure most of you reading this are all too well aware already, the most popular figure assigned to this particular statistic of carnage seems to be 95%. That figure, if accurate, is truly frightening when you think about it. I mean, 95% of [B]ALL[/B] participants in a single activity, FAIL to become successful at it. That is incredulous to say the least.
I would seriously doubt the existence of any other event which has a failure rate which even comes close to matching that. Unless that is you count remaining connected to your testicles after you've told the wife you slept with her sister last night as an event!
Truth be told I personally found it a rather confusing statistic for the longest time also. I just couldn't work out why, if this truly was a zero sum game, the success/failure rate wasn't, and never varied from, 50/50. Bless my cotton naivety.
But a 95% failure rate? Good God that's hard to imagine. Almost as hard to imagine in fact as the sheer size of the profits the big boys among the remaining 5% must be making.
So what gives? What goes so badly wrong for so many people? What do the 5% know, or do, that the vast majority are just simply failing to grasp? Or, as they say in NLP circles, what is the difference that makes the difference?
I personally have lost two small accounts in the adventures of a hobby-ist forex trader. Neither of any significant amount of money. My thinking there being if you can't trade a small account successfully, why would you want to blow all the cash you made pimping the wife out for the last 3 years? (or was that the other way 'round?) But to me the frustration of losing those accounts was not built on the fact that I [B][I]DID[/I][/B] lose them, it was [B][I]WHY[/I][/B] I lost them, after all, to the best of my knowledge I did everything I was supposed to do.
So began my quest to seek out the truth, or an excuse, whichever came first, fastest and/or easier.
For a start, I decided to rule out Academia from the equation. Granted they gave the world Diego Maradona but apart from that what other contribution has Academia ever made to the world????
Sure to be successful in ANY venture it helps if you are at least marginally sharper than a brick, but I'd happily wager that for every academically [B][I]strong [/I][/B]person out there who has become successful through trading, there is an academically [B][I]weak[/I][/B] person who has become successful through trading.
And vice versa, there is probably little difference between the numbers of academically strong and academically weak people who have FAILED to become successful at trading.
In fact, again I'd happily wager that if there existed a means by which it was possible to view the figures of people who were considered to be 'Positively Academically Gifted' and who had yet FAILED MISERABLY at trading, you'd logically come to the conclusion that intellect had precious little to do with success in the trading arena at all.
But trading IS a mental activity. I mean, you don't need to wear steel toe capped boots to trade, no fancy underwear, (unless you are so inclined) no 9lb hammer, no vehicle nor no large machine which makes a loud buzzing noise that will cut your fingers off if you don't pay attention. It's NOT a physical exercise, it's purely mental.
So if it IS mental, yet not necessarily intellectual, why do so many people fu*k it up so horribly?
Bet you think this is going down the ‘Trading Psychology’ route don’t you? Nah…I’m much too much of a conspiracy theorist for that nonsense.
There are several things that work against instincts here. The first is, your best buying opportunity is when price is falling. But exactly when? And your best selling opportunity is when price is climbing. But when? But you see time after time people selling the bottom, or buying the top.
Secondly, reliance on indicators. Indicators have merit occasionally. But by and large, they are reflecting price history, not price future. It’s like basing decisions today on last month’s newspaper.
Third is just good old fashioned greed. Greed will kill an account just as quickly as fear does. How many times has a great winner turned into a loser for you?
Fourth, the need to “perfect” something makes things worse. I’ve seen countless people that stumble onto a winning strategy, but the constant tweaking eventually leads to a blowout, and failure. This is ‘wash rinse repeat’. You can’t perfect it, you can only get a positive expectancy, and religiously follow the rules you have without fail.
Couple all those factors with the majority of the people that try this gig, but have the attention span of a gnat and zero ability to stick with something until they are proficient at it, and the high failure rate makes perfect sense. This is a spoonfed population. They want it if they can pick it off a tree. But almost none of them will plant a seed, or pull weeds until that fruit is ripe. Like the old joke about the fellow that won a cash an award for being the laziest man in the world. He said to the guy handing the cash out: “Just put it in my pocket?”
Now, about the 95% deal. There are LOADS of professions that have a high failure rate. I bet crab fishing in the Bering sea has a higher failure rate than forex does. The people that apply for medical school, but either can’t get in, or do get in and drop out is extremely high. I’ve seen numbers that say less than 30% even get into medical school. Somewhere like Stanford and it’s 3% acceptance. Average those out, and figure roughly 40% of those never graduate, and another bunch ditch in residency, and it’s easy to come to a 95% failure rate.
The 95% number never scared me because failure was not an option. The only thing in question was how long was it going to take to succeed.
I agree very strongly here. The failure rate isn’t anything out of the norm for comparable professions, though I do feel that there may be a higher number of already-likely-to-be-very-unqualified-from-the-beginning people due to the way forex is typically marketed. But yeah, high attrition rates for higher level skills is inherent.
First, there is no conclusive proof that approximately 5% of traders are winners. It is one of those myths (unsupported) that has been lingering around for ages. Even if we are to believe that the figure is true, it is not daunting considering retail Forex trade is just decade old and all financial markets are inherently risky. Perhaps, the first glimpse into the percentage of successful traders is revealed by US Broker Profitability report of different brokers suggesting that profitable traders are about 33-38% q-o-q. However, the report fails to indicate the long-term efficacy of traders who are really successful. I remember John Foreman, behavioural science expert, elaborated on the issue of broker profitability reports and posted his findings on this forum or may be forexfactory. Overall, he concluded that number of traders who are successful in the long-run are near 7-8%, which is close to whatever we heard. Anyway, I will take any figure 5 or 7.5% whatever because (as stated above) your chances of gaining in Forex are much better than some Ivy leagues. Personally, I am not surprised.
I was going to write a few comments about this but i think Master Tang pretty much covered everything.
There is one small think i would like to add. A thing i have noticed in regards to working with very cerebral people over the years is that the quant trader metality is different to the pure quant mentatility. People who are too analytical try to perfect everything and model the problem too much this often leads to them not trading or trying to trade with too little risk. Quant traders I have met more use analysis to make themselves comfortable enough to trade but use it as a tool and dont let it get in the way.
The balance is quite a fine point, you need to be analytical enough that you understand if you are taking excessive risks but stupid enough that you dont let the gravity of what you are doing paralyse you.
I actually deleted my 4 reserved post spaces so that MasterTang’s response could directly follow my first post. I just thought it was far too good an answer to have it’s point lost by coming 4 posts after the post it replied to (if that makes sense).
Although, by and large, I agree with all that has been offered so far, the intention, or direction of this thread is NOT to debate the legitimacy, accuracy or even the importance of the success/failure rate in this business, for one simple reason. I really couldn’t give a monkey’s fu*k if it’s true or not. It’s not important to me at all how many people fail here. It is important for me to understand [B][I]WHY[/I][/B] so many people fail though.
For me the reasons are pretty much encapsulated within the three extracts quoted above courtesy of MasterTang.
I left the first post with the question “So if it IS mental, yet not necessarily intellectual, why do so many people fu*k it up so horribly?”
Now I was going to get into the whole discussion surrounding emotions and all of that girlie stuff but that whole speech was summed up rather nicely by the words “It’s human nature.”
So what IS human nature and why do we do what we do? Please be aware that the following opinions are MINE and mine ALONE and probably never stand a chance of winning the Nobel Psychology prize, although they fu**ing should !!
In essence, human being are animals (some more than others). We are social creatures, pack animals, a herd, a flock, imitators. We act in mass and imitate each other to grow, to live, to teach, to grow again. Our actions and decisions, far from being what we think are individual, unique reactions to certain situations, are in fact directly influenced by the words, actions and decisions spoken and/or made by others around us. Don’t believe me???
Scene 1: The ramp of your amphibious landing craft falls open onto the beach and you and your squad charge out into the water. You charge up the beach and hurl yourselves down behind a large sand dune just as all hell breaks loose. Explosions are going off all around you and bullets start whizzing past your heads like flies on a dung heap from the gun turret at the beachhead. It’s chaos and the bookies are already taking bets you’ll all be dead int he next 3 minutes.
The leader of your squad, Cpt Mitch ‘hotboy’ Studpants suddenly gets to his feet with blatant disregard for the mortal danger surrounding him. He removes his helmet, runs his fingers through his golden hair and shouts, “Kowalski ! You and Shepherd circle left. Fisher and Tank, you two circle right. Lay down some covering fire while me and this guy!” he spins round pointing at you, “What’s your name son?” he asks.
“Finklebaum sir!” you shout.
“That’s a tough break kid, but you guys lay down some cover fire while me and Winklehome here charge into the eye of the storm and show these Bas***ds how we play ball Stateside.”
Cpt Studpants reaches into his shirt and produces a puppy. “I promised the kids back at Missy Emmet’s Orphange I’d deliver little Blue here by Easter. And I’ll be dammed if a couple of ego maniacs in a gun turret with an MK-19, an M-240G and enough grenades to liberate Turkisbogastan are gonna make me break that promise. Ready? Let’s go Silverbum.”
Before you know it you’ve shouted “Fuc***g Ay.” and you and Hotboy Studpants are both posthumously awarded the Military Cross for bravery beyond the comprehension of human knowledge.
Scene 2: The ramp of your amphibious landing craft falls open onto the beach and you and your squad charge out into the water. You charge up the beach and hurl yourselves down behind a large sand dune just as all hell breaks loose. Explosions are going off all around you and bullets start whizzing past your heads like flies on a dung heap from the gun turret at the beachhead. It’s chaos and the bookies are already taking bets you’ll all be dead int he next 3 minutes.
Suddenly you hear a scream so high pitched it could crack a mirror. You turn around just in time to see your commanding officer, Cpt Panzy Bedwetter, running off down the beach screaming, “We’re gonna die, we’re gonna die, ****, I just broke a nail.”
Kowalski is sitting crossed legged going “OOooohhmmm, OOooohhmmm.” Shepherd is making a strange rocking motion while sucking his thumb and Fisher and Tank are hoping the enemy won’t notice them by pretending to be trees. The crying, shi***ng themselves type.
At this point you could shove "Fuc**g Ay" and Missy Emmet’s Orphanage as far up your rectum as you want cos are you [B][I]really[/I][/B] going to storm the gun turret with all of this sht going on? No, you ain’t, you’ve been influenced by the actions of others.
That’s human nature.
“There are several things that act against human instinct here…”
Correct again. Human instinct is to herd, to flock, to act as a pack. We are habitual, [B][I]WE[/I][/B] are the self fulfilling prophecy. Just as we form good habits, we also form bad habits and it is more often than not the BAD habits we “wash, rinse and repeat”. This also makes us terribly predictable I’m afraid, and in a zero sum game, that’s not an advantage.
Mitch Studpants is NOT the norm in our society. Successful people are successful because they are anomalies in our species. They become successful because not because they have no fear, but because they have no fear of being wrong, there is a subtle difference there. They’re not afraid to think, or act as individuals, that’s what makes them different, that’s what makes them successful.
The reason so many people fail here is because they have no, or at least have forgotten how to use the, ability to think for themselves. If the manual doesn’t have a “What to do when it all goes t*ts up” section, most people are screwed.
[B][I]“This is a spoonfed population…”[/I][/B]. Ah, my favourite bit, and bang on the money once again.
The problem most people have shortly after they arrive at the gates of Forex Planet is that they start to look for someone to show them how to do it, when they should be looking to[I] LEARN[/I] how to do it. Again, subtle difference.
When we were kids we’d sit in a classroom and recite the times tables daily. Two ones are two, two twos are four, two threes are six…By year end if you asked any kid in the class what two sixes were you were in danger of suffering some kind of laceration at the speed of the answer you’d receive…12…quick as a flash !!!
Asked any one of those kids [I]WHY[/I] it was twelve and you could have knocked out the entire works of Hugh Hefner before you got a decent answer, if you got one at all. We ARE spoonfed, we want to be given, not shown, not taught and we certainly don’t want to discover on our own.
The majority come to the internet, and forums such as this not to learn in the traditional sense, but in the hope of being given the ready wrapped package which doesn’t exist, mainly because we are told that trading is in fact a psychological sport more than a learned sport. It’s emotional, and therefor emotionally unique to each individual.
The failure rate, imho, would be interesting if it was coupled with the statistics of the time periods it takes people to fail and give up. Do most fail and quit within 1 month? 2 months? When? The reason I ask is that I believe failure and the inevitable throwing in of the proverbial towel centres around 1 emotion only, frustration.
But it’s way too late for that discussion right now, bed time calls I’m afraid.
I have seen parallels between learning extreme sports and learning to trade. I would say that people who are capable to becoming good at extreme sports have a different approach to risk and assesment of failure. I have cablewake boarded for about 5 years, I do it on a relatively serious basis. Over these years I have friends that have started doing it but not really progressed for a long time, I have other friends that have managed to progress at a fairly consistent rate. The people I know who have gotten good and can land big tricks all have fairly grusom stories about getting hurt a long the way. They still ride as hard as they always have they just see getting hurt as a part of the game. In a similar vien its not always that the risk is fully calculated. A friend of mine spent most of last seasons out and having surgery as mid trick about 10 foot in the air the cable snapped (very unusual) and wrecked his knee on landing. This could be seen as a parralel to the market gapping on a big news event or something and you getting totally and unexepectedly caught out. After 6 months of physio he is now back on the water and building back up.
Most people are not willing to break an arm, in my time wakeboarding I have broken a leg, been knocked unconcious as well as various other injuries. I am not saying that you have to get hurt to be good, but if you’re not willing to risk hurting yourself then there is no way you are willing to take the risk that you need to take to get good. This is where I think the assesment of risk is different, I have gotten hurt a lot over the years, it sucks but its also in my view a necessary evil if I want to be able to ride at the level I want to ride at. This could be compared to the way people view loosing their entire bank roll. It sucks, but if you are not willing to take risk and get hurt then you are not going to be able to get good. The other thing is how people categorise the outcome of an event, breaking a leg is not great but its also not the end of the world, losing your whole bank roll sucks but you will make more money at some point and can give it another go. In snowboarding there are what are known as season ending injuries, and career ending injuries. A season injury is bad but survivable, you recoup and come back stronger.
There are some things that don’t really translate to the physical. For instance if you have never downhill mountain biked then its probably not adviseable that the first run you do is a eleveated in tree ladder run with 30 foot drops, but you hear of people who want to try out this whole trading thing so effectivelty put $3000 on a single trade. This is something that has always confused me a little. I see the way to learn as a gradual build up so you can mitigate some of the risk associated with the next bigger trick.
I suppose the other ingredient is passion. You get good at things by spending a lot of time doing them and it needs to be a labour of love. You cannot choose who you love, or what you’re passionate about, some people love collecting stamps! But the other thing I have noticed about people that are good and it is passion. You can just tell from a 5 minute conversation if someone likes to ski, or loves to ski. Same with trading and it will always be the latter who are sucessful.
Aha, but your whole post is exactly the point I’m edging agonisingly slowly towards, and the point made by MT (took the liberty of abbreviating, hope you don’t mind MasterTang) with his “spoonfed” comment.
You’re willing to get out there and break a leg to learn for yourself, that’s why you’ll succeed. Most people aren’t willing to go that far, that’s why they’ll fail.
I’ll add more to this tonight, bit busy right now, but I totally agree with you.
It is not a zero sum game. The brokers rake their commissions. If you never profit in the long term your account will be zero, like playing black/red in the casino roulette.
My best friend is very much in the Mitch Studpants mould. He became quite successful at a fairly young age in business and he is very sure of his own abilities to make decisions and stick by them. That said his biggest strength is realizing very quickly when those decisions aren’t working, admitting he was wrong and changing the game plan. He also has a fantastic ability of making you look at things from a different perspective, which sometimes is all you need to push you forward
Let me give you the conversation I had with him that made me start this thread and why it is so named.
It was our squash night, (Tuesdays) and 15 minutes before he was due to collect me I had finally just lost my second account. When he walked in the door I was ever so slightly pi**ed off. He starts the conversation:
-“What’s up with your face?”
-“Eh? Nothing. Just…nothing.why?”
-“Cos you’ve got a face on you like a bulldog licking piss off a nettle. What’s up?”
-“Ah nothing, just lost my forex account, but it’s no big thing.”
-“Forex?”
-“Yeah, currency trading. Do it as a bit of a hobby, but I’ve fucd it up again."
-“What do you mean again?”
-“Well that’s the second account I’ve lost, but it’s not a lot of money, few quid really.”
-“You mean you do it for REAL money?”
"Yeah. But not a lot, just hobby money. It’s not the losing the money that frustrates me though. I’ve been trying to learn the whole thing and as far as I’m aware I’m doing everything I’m supposed to do, but I still lose. Which is a shame cos I quite enjoy the whole thing. I could see myself doing it full-time, if I didn’t lose all my fucg money that is."
-“Show me.”
-“What? What about the squash?”
-"F*k the squash, show me.”
I then spark up the computer, run him quickly through the whole 'this is a chart, these are the candlesticks which show price movement, this is supposed to be what they call support and resistance, these are some indicators and I finish the whole thing with the sentence, “They say it’s a zero sum game.” Conversation carries on…
-“What do you mean a ‘zero sum game’?”
-“Well the idea of a zero sum game is that for every winner there is a loser. Whatever I lose, someone else wins, nothing else left over. So for every loser out there, there is supposedly a winner. It’s a little like an every man for himself winner takes all sort of thing.”
He pauses for a second and asks “And who’s been teaching you how to do this? I mean, you say you think you’ve been doing what you are supposed to be doing, but ‘supposed to be doing’ according to who?”
-“Well there’s loads of free information sites on the web, free sites that teach you how to use certain indicators, find strategies, how to trade. Loads of them.”
-“And everybody’s in it for themselves?” he asks.
-“Well yeah. Why?”
He pauses for a minute again, I can by now just feel a Mitch Studpants moment brewing. Eventually he comes up with this:
-“So let me see if I’ve got this right. You’ve started trading on the internet with real fucng money, doesn’t matter how little or how much, it’s real fucng money. You’re trading in an arena where EVERY SINGLE OTHER PERSON who’s taking part is in it for themselves, with their own REAL money, and yet THEY’RE the ones that’s teaching YOU how to do this sh*t, is that about right right?”
My turn to pause…“Eh…yeah…that’s pretty much it.”
-“Oh well that’s fine.” he says, “I don’t think you should be frustrated at all!”
-“You don’t?” I smile.
-“No,” he says, “I think you should be ***g shot !!" I stop smiling.
-“Why?”
-"You do… I th…It’s lik…Can you fucg hear yourself? Your OPPONENTS are the people teaching YOU how to play? Seriously? Say we go to the squash tonight and instead of playing me you pick some random guy in the changing room and ask him to play you instead. Say you both decide to play for 20 quid. Would you REALLY walk on to that court and say to him, ‘listen mate, if you really want to beat me just keep playing to my backhand, it’s ******g terrible’. Well?”
-“Well…obviously I wou…are you trying to say there’s something wrong with my backhand?” I ask.
-“No, I’m trying to say why in the name of God would ANYBODY in there right mind teach someone else how to beat them? You say the advice is free and to the best of your knowledge you’ve followed that advice pretty well, but you’ve still lost. Doesn’t that make you question the advice in the first place then?
Let me tell you something for nothing mate, there is NO such thing as hobby money. There’s money, and that’s fucg it, full stop. You might have a million mates on the internet that you talk to about forex, but at the end of the day you’re playing against every single one of them for theirs and your money.
[B][I] If I took up forex I’d lock myself in a fug box with just me and my computer and I wouldn’t come back out until I had worked out WHERE those charts were going, WHEN they were going there and WHEN they’d be fung coming back!![/I][/B]!
And I WOULDN’T be asking anyone else to teach me how to do it either. I’d stare at the fukng thing 'til my eyes bled and I’d worked it out on my own.”
Now I’m starting to think about the whole thing.
-“Yeah but there’s a lot of kind of psychology involved too. I mean, they always say 'make sure you use a stop loss’ for instance, and to be honest there has been times when I haven’t used one because I didn’t want to take the loss.”
-“Bollocks.” he tells me. “What’s fukng you up then is the fact that’s it’s money your playing for. Say you take the money out of the question, say you just forget about it. Show me your charts again.” he says pointing to the computer.
So I put this up on the screen:
So then he says:
-“Imagine you’re playing a video game and it’s about a battle between two armies. The red and white tracks you see are the movements of each army, when the white moves up well that’s the army of EUR moving forward and getting stronger. When the red moves down well that’s the army of USD moving forward and getting stronger. Now this has nothing to do with money, it’s just a video game ok?” I nod. “ok, now suppose you are white and part of the rules of the game are that you can put in an automatic “stop the red army advance” point on your screen so that if the other side moves too far into your territory, you have have them automatically stopped before they get too strong. You’d do that wouldn’t you?” I nod again. “Yes you would, cos you’d be fukng stupid not to wouldn’t you?” I nod again.
“So if you’d do it if it was a stupid meaningless Fukng video game, why wouldn’t you do it when your bloody money was on the line?” he asks. This time I kind of shrug, I don’t nod.
“Here’s my advice with this thing.” he tells me. “If you want to do it, if you REALLY want to do it, lock yourself in your room, nail the doors and windows closed and speak to no one. Find out what is the bare minimum knowledge you need to learn this and that’s all. Don’t ask people how to do this or how to do that because the very second they tell you to use something your judgement is already clouded. Forget everything you know and start again. Glue yourself to that screen until YOU work out when it’s going to move and where and why it’s going to move. And the biggest tip of all, take the money out of the equation, pretend it’s a video game, doesn’t matter if you want to be Red one day and White the next, just make sure you don’t let the other side too far into your territory.”
The conversation did go on for several hours after this, but by this time we had both drank 4 or 5 beers and you really don’t want to hear the rest of it, unless you really are that desperate to find out how he ended up with a duck in a brothel in Amsterdam.
My takeaway from it all though is :
-where is the advice coming from?
-How much have you learned that is REALLY clouding your judgement instead of helping it?
-Can you REALLY go back to the start and begin again with the bare bones of knowledge?
-Does having a duck involved count as a threesome?
At some point over the weekend I’ll post up the rules for the new “video game” If you wake up one day in a box, with only a computer screen showing forex charts and you have no knowledge whatsoever about forex, what would be the bare minimum you’d need to start trading successfully?
Aha ! Just pretty much posted them in a new thread “What would you choose if your life depended on it” but I’ll do it here too.
Question I’m really trying to answer is NOT how MUCH do you need to learn to trade, but how LITTLE. By which I really mean “What is necessary?” and what is just a whole truck load of unnecessary sh*t?
Imagine you wake up one morning in a room. You have no concept of who you are, what you are or even what you look like (for some that me be a blessing).
On the wall is a clock which tells the day and the time.
Only other thing in the room is a desk on top of which sits a computer. The computer connects ONLY to a forex trading platform.
Miraculously you have the ability to read, which is f**king handy because on the desk, beside the computer lies a piece of paper which explains the chart you see on the computer screen (chart in post above) is in fact the movements of two warring armies. The army of White and the Army of Red.
When white moves up, it means they are getting stronger. When Red moves down it means they are getting stronger.
You’re told this is an infinite game in as much as no side will ever completely defeat the other side. They can get stronger and move further into enemy territory, but the game will never end.
You’re then told that each army stands on a particular number, bet they NEVER both stand on the same number at any time. If Red stands on 1-3550, then white will ALWAYS be a couple of steps away (in this example 1-3552).
Each step forward represents 1 point for either side. If red moves from 1-3550 to 1-3551 then that is 1 point.
Your job is to anticipate which direction the war is going to take (ie, who will move forward or back for that day)
You are given 1000 points and told that if you correctly guess the direction of the war you will receive 1 point for every step forward your chosen sides gains. However you will lose 1 point if your chosen side is pushed back.
Only other things you are told is that you can put in an automatic stop so that if your chosen side is pushed back further than you would like, your “game” is cut off automatically.
You can set a target number.
You have the ability to draw lines on the screen.
The war continues constantly between Sun 10:00pm and Fri 10:00pm. However this time zone can be broken down into smaller time zones like a 24 hour period, a 4 hour period etc.Both armies rest in between.
However, sometimes one of the armies will send soldiers behind enemy lines during the rest period to cause damage, the effects of which will only be discovered at the commencement of battle at Sun 10:00pm, so you need to think twice about leaving a move open over the rest period.
Also each army may release statements during a 4 fighting week period which may allow them to gain,or lose positions. these statements are beyond your control but you will be notified prior to the release and of the potential effect.
These statements are repeatable every 4 weeks however the content will change.
You know sweet f**k all about candlesticks, forex, or anything else outside of the room you are in so you are not distracted by the urge to leave the box.
Last thing you are told is this:
[I]“Look around this room. There is N[B]OTHING[/B] else to do in this room. If you lose your 1000 points you will spend the rest of eternity sitting doing nothing, so look after your points, it’s all you have to do.”[/I]
Question then is, what else, if anything, would you need to learn to successfully and continuously play the game?
What else, what would be the BARE MINIMUM you would need, without clogging your mind up with bad, or unnecessary advice/knowledge would you need to know?
Does the introduction of the points make a difference? If the game was to be played for no points at all, would that make you more reckless? Would you even care about the game at all if it was played for no points.
I hope you get what I’m trying to ask, then again, I’m sure you do. What do you NEED to know, and what do you NOT need to know to trade.
90 % of programmers aren’t competent too despite they claim that they are programmers.
And I think the failure rate is a bit lower than 95 %, maybe around 80- 90 %.
So all difficult and elite tasks or jobs can only be done by certain peoples, that’s why around 90 % of money in this world is controlled by only 5 % peoples, while the 95 % peoples can only have 10 % of the money, so pathetic but this nature is fair so that is the fairest thing…
Average and common peoples will always stay in bottom and special peoples on top…
