Are Good Traders Born or Made?
The changing face of trading has made it easier than ever for a person without killer instincts but with a methodical trading program to do well in the markets, says Linda Raschke.
Are traders made or born? We’re here with Linda Raschke, who is going to answer that perennial question for us.
That’s a good question. Richard Dennis was the first person that posed that question over 20 years ago. To prove his point that he felt that traders were made, not born, he started the Turtle Project.
Just a few comments about trading now versus trading then. Trading back then was pit trading, and of course you could get away with a much more intuitive type of style. There were born traders then, and they could rely on all different types of sensory input.
But I firmly believe that you can take anybody, give them a rule set, and as long as they are of the nature that they have an even temperament and therefore can consistently follow a program, then absolutely traders are made nowadays. It’s a matter of spending the time to develop your own rules so that it works for you, and then following it consistently. It’s certainly not a function of IQ.
So the instincts that they relied on in an open and out crisis system have changed with the advent of technology?
It’s a totally different type of game now. Just like sports, you can take somebody with all the talent in the world and it doesn’t mean that they’re going to be able to be a world-class player.
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