#143: THE FAILING-TRADING HALO EFFECT
Do you know why so many traders fail?
Because they copy stupid, poor, obsolete, non-functional ideas from each other.
I call it a “failing-trading” halo effect.
And I am constantly perplexed to see how way too many traders just search the internet forums and look for how to copy some obsolete idea from others.
Instead of being original and creative, and inventing their own fresh, unique trading ideas.
From my experience, the trading industry is desperately stuck in old, obsolete ideas.
Not because of conservatism, but because of the absolute lack of new, fresh trading ideas and approaches.
Too many traders are simply brainwashed by the “halo effect”, believing that if THIS is what everyone else is doing - it must be right.
But it is NOT. Because almost everyone in the trading industry fails. And the few who do make it, use unique stuff. Not the obsolete crap that is available everywhere. But unique, fresh, prolific ideas.
And that’s why many of my students are doing way better than the usual herd out there.
Because they work with unique stuff that we have developed in our hedge fund as proprietary (I really can’t imagine how I would ever even dare to launch a hedge fund with all that obsolete crap that is available everywhere on the internet).
I know my frameworks are original, fresh, and unique. My Trading Market Internals framework helped a Trading World Cup champion. Who, by the way, is also a student of my Breakout Strategies Masterclass. You see, he used something ORIGINAL, not the usual halo-crap.
And the Smashing False Breakout pyramid helped many of my students improve the timing of their trading strategies significantly. Again, because it’s a unique framework. Not a halo-crap.
So one really needs to abandon what he thinks is a “conservatism mode”.
It is not. It is just a compensatory thought for lack of really good, unique ideas. It’s a “failing-trading” halo effect. Good trading needs big open-mindedness, out-of-the-box solutions, and constantly doing the exact opposite of what is wildly available everywhere on the internet.
Happy fresh thinking.