So of late Iv been seeing loads of so called experts selling tips.
One of them I served with in the military. Now being polite he wasn’t the smartest cookie in the jar, yet now hes making 6 figures FX trading…and get this offering free tips!!!
Ok yes im getting this is a bit of a scam, but why how and where are they getting these tips?
Intelligence solely does not equate to trading success, if you consider memorizing school material then regurgitating it intelligence. People with high EQ will outperform high IQ if high IQ is the only thing the person has to offer when trading the market.
Same in the military. The higher your EQ, the better you perform in the battlefield (even outside that) whether you are on officer or enlisted.
You will learn this the longer you are on your journey. Perhaps the only thing I can think of where high IQ prevails is if you’re a quant developing algos–but then if you look into, I believe, Tom Basso–you will see his simple low IQ algo system outperformed those created by his Phd quant counterparts.
I think it was Tom Basso…
Some of the dumbest guys I know are good traders , I am no Albert Einstein yet make a good living trading the markets,
Surely the way forward is to find out how tips are tipped. Then you have the choice of being either a salesman or a trader. Neither requires vast intelligence as neither is vastly complicated, but each suits different personality types.
Getting into the right game has to come ahead of being good at playing it.