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.