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So a world divided into writes and write-nots is more dangerous than it sounds. It will be a world of thinks and think-nots. I know which half I want to be in, and I bet you do too.
This situation is not unprecedented. In preindustrial times most people's jobs made them strong. Now if you want to be strong, you work out. So there are still strong people, but only those who choose to be.
It will be the same with writing. There will still be smart people, but only those who choose to be.
Writes and Write-Nots
Paul Graham
The future is unpredictable and uncontrollable. Picture all the things that could go wrong. Prepare for each, so they won’t surprise or hurt you.
After poring through all the research on trading success, two critical traits jump out:
1. **Rationality** is the human trait that best predicts trading success. People who are rational and do not jump to quick conclusions using mental shortcuts (heuristics) are more successful in trading. This characteristic can be measured as Rationality Quotient.
2. **Overconfidence** is the human trait that best predicts trading failure. People who overestimate their ability to outsmart the market perform worst.
Alpha Trader
Brent Donnelly
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