GxE for Success? (VII)

BarroMetrics Views: GxE for Success? (VII)

We are reviewing the Accountability Cycle for aspiring traders. The final three guidelines form the ‘action phase’. So far, our trader has identified the problem, with reality as a context, he has taken responsibility for the problem, and has devised a possible solution.

Now, he has to test the solution: ultimately, he has to act, review the outcome obtained, adjust his process to deliver the desired outcome, and act again. This process of ‘act-outcome-adjust process-act’ continues until the desired outcome is attained.

If we examine the route many (most?) novices take in an endeavour to attain success, we’ll find that the they fail to follow the accountability  cycle.

Most start with the idea that trading is an easy way to riches. As one aspiring trader said to me: “I want to get rich with no effort, no starting money and little effort” (???). Hardly a realistic attitude. Many fail to obtain the most basic education, they flit from ‘freebie to freebie’, somehow believing that this will be all they need to learn to attain their dreams. These fail to ‘seek reality’

Some do go from seminar to seminar, book to book, looking for the one system, the one magic indicator that will produce the results they seek. I take the view such a system probably does not exits; and if it exists, will not be shared.

Moreover, if such a system does exist, it will exist, at best, for a short time.

At its base, trading is a function of the consistent execution of trading and risk management rules, rather than the result of some ‘holy grail’. By seeking the Holy Grail, these traders fail to ‘acknowledge reality’.

A few do obtain an education; but, they then fail to translate that education into a robust trading method, and a set of risk management rules. In this, they ‘fail to own the problem and find a solution’.

In my experience those that successfully navigate past the ‘find solution’ phase, usually go on to succeed. They apply the three guidelines ‘act-review-adjust-act’ to attain their vision of success. But, a minority in this group, find that they know what to do, but fail to do what they know. What causes this?

We’ll look at this tomorrow.

GxE for Success? (V)

BarroMetrics Views: GxE for Success? (V)

So far we have covered the areas of responsibility for a budding, successful trader in the Coyle Model. Today, I’ll examine application examples. Clearly a detailed examination would be beyond the scope of a blog; but we can examine an example.

Let’s take the accountability model. In my view, most budding traders come to the game with an unrealistic expectation of what is possible and how much time, effort and money it will take.

The accountability model first ‘seeks  reality’.  In what way is this guideline broken? Well, in this part of the world, the best example is the local belief an education is necessary for success. We see countless numbers attend all the freebies but many will proudly tell you that they have never taken any kind of course. 

Imagine going to a lawyer or doctor who proudly advertises that he has never been to law school or medical school. What chance would you give him to succeed in his chosen profession. As Aussies’ say: ‘Buckleys!’ (i.e. no chance).

The second guideline asks the budding trader to acknowledge reality. In this case, he needs to take the action to acquire an education, apply it in a way that will provide a positive expectancy return. The positive return will take time and effort – it won’t come with some magical indicator or system.

(more tomorrow)

On Premium Follow-up Workshop

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    These are some of the video clips to share especially for those attendees of CMC talks on Nov 10 2012, who are not premium attendees.

    Ag Moderator

CMC -Winning Formula presentations

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Winning Formula

Last Saturday, CMC presents a series of presentations by Ray Barros and his two nephews: Kurt and Kane Petersen to a good turnout on a Saturday.

A-Trading Compendium to BarroMetrics ebook – Printable

-By Dame Anna Wang with Ray Barros

Updated to Baroness Anna Wang with Ray Barros

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https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=WX32A6495CR7J

Limited printed hard copies sold on the day:

ATC

About Author:   http://eduhuman.wordpress.com/about/

 Mark Laudi was the MC.

Ag Moderator.

RAY on CNBC Cashflow at 11am -12 noon Sin/HK, Tue on Nov 13 2012

 

 

Foreign Competition Negative for China Banks

Tues. Nov. 13 2012 | 11:35 AM[04:09]

Mike Werner, Senior Equity Analyst at Sanford C. Bernstein also said he expects regulation for the Chinese banking sector to accelerate in t…

 

 

 

 

Stock in 60 Seconds: Olympus

Tues. Nov. 13 2012 | 11:10 AM[01:10]

CNBC’s Adam Bakhtiar takes on the challenge of the daily stock in 60 seconds segment and looks at Olympus which made a strong comeback today…

 Video clips on Cashflow  above.

CNBC Cashflow today

Well wishes to  all who celebrate Diwali on Tuesday, November 13, 2012.

diwali

Ag. Moderator

CNBC Cashflow today

Ray on Cashflow today

19 Jun

Expect More Volatility Going Forward: Expert

Tues. Jun. 19 2012 | 11:20 AM[05:41]

Chi Lo, CEO, HFT Investment Management said the Greek election results only provided a short-term boost to the markets, adding that it will …

Time to Switch Out of Cash: Fund Manager

Tues. Jun. 19 2012 | 11:40 AM[03:16]

Angus Geddes, CEO, Fat Prophets says investors should be looking to return some cash to the market, as he eyes a rally on the ASX 200 to 4,3…

Baronne-Anna

Ag Moderator

DEEPEST SYMPATHY TO RAY & FAMILY

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FROM friends & BarroMetrics Fraternity.

THE LORD IS MY SHEPHERD – ORIGINAL

http://youtu.be/OqWyWWY09SQ

HYMN

 http://youtu.be/qZnj8yifvsw

 

SOMEWHERE

http://youtu.be/a5YPC0-gHVo

TIME TO SAY GOODBYE

http://youtu.be/1qecULT01iE

FROM all at International Humanitarian White Cross to its Hon. President & Legal Advisor:

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FROM Eduardo Ramos-Gómez, Partner, Duane Morris & Selvam LLP

Dear Ray,

I just learned of your Mom’s death. I am very sorry. Never, no matter what age or circumstance, is one prepared to say goodbye to a mother.

Please receive a warm embrace as well as my prayers to God for them to fill your heart with peace and love.Eduardo Ramos-Gómez

 

ROSARIO IS:
-Mother to Ramon, Rene, Ricardo, Rolando, Ruella,  Rafael, Rebecca  &  Ricci
-Mother-in-law to Christine,Maria, Agnes,Cheryl, Barry, Samantha, Ron, Jaye
-Grandmother to 24 grandchildren
-Great-Grandmother to 18 great-grandchildren

Amazing Grace – please click on linkelvis.jpg

http://youtu.be/B3XdXEJEI4E

TAKE MY HAND PRECIOUS LORD

 http://youtu.be/EeeZr6uIHj4

IMMORTALITY

http://youtu.be/gUuliMnJ9dg

THE LORD’S PRAYER

 http://youtu.be/zvLQaGklpoA

THE MILLENNIUM PRAYER

http://youtu.be/SR3ggJy0XU0

THE LORD’S PRAYER

http://youtu.be/bSj31u3urvs

AVE MARIA

http://youtu.be/vXw3Hj6vRoc

http://youtu.be/bPvAQxZsgpQ

Celebrate her Life

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 http://youtu.be/DlGAC80jkck

Cross ref:  http://eduhuman.wordpress.com/2012/05/24/our-deepest-condolences-to-ray-barros-famiy/

Baronne- Anna

Ag Moderator