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Gary Norden @gary_norden
, 8 tweets, 2 min read Read on Twitter
Amateurs vs pros (long thread)
There are lots of amateur traders and few pros
This is similar with sport
In both, the amateurs think they are behaving like the pros
But there is a massive difference
Many of these differences are quite small
Many have to do with mindset
Pros are working on a completely different level both in skill and intensity
You can't learn to be a pro by watching or listening to an amateur
The vast majority are amateurs and they won't have the attributes to become a pro
Pros work in the 'now' they are 'in the moment'
Pros understand that there is huge work needed to become and remain at an elite level
Pros do not expect to become pro with an hour's practice or work a day
Doing what everyone else is doing or what is popular among amateurs will not make you a pro
Pros are sceptical of short cuts
Pros embrace the randomness that each decision may be different - this is being in the 'now'
Pros understand that small changes can have a big overall impact
They actively seek ideas where small changes can be compounded for large effects
This is because they understand the combined power of compounding and frequency
Pros do not keep chasing 'home runs' or big wins - they compound smaller advantages
They understand that edge is small but that even small edge when compounded can be powerful
Pros don't do something today because it worked 3 weeks ago; today they do what is best for today, what is best for now
A pro can tell the difference between a pro and an amateur, often just by talking to them.
An amateur often can't tell the difference which can lead them to seeking advice from the wrong people
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