Rewarding yourself

[Kiwi]

Interestingly I was reading the first couple of chapters of Curtis Faith's new book "Way of the Turtle" and he points out an area where ex-sales types may be at a disadvantage (although five or six months on commission only waiting to become rich does toughen one up a bit - especially after the 3 months guarantee runs out).

Outcome bias: The tendency to judge a decision by its
outcome rather than by the quality of the decision at the
time it was made.

Sales types are very focussed on the numbers. No matter how much process is discussed you end up a hero or dead on your numbers. So it may be harder to detach from outcome and focus on process than for some other former careers.

[brownsfan019]

Kiwi - I'm sure we could make arguments about the best types of careers to come from for trading. I personally have come from sales and see the many correlations, so I think it's an advantage. And until someone has actually gone thru what myself and tin have, I take no stock in their comments. I'm sure the author of the book is a smart guy, but until he's been in a sales environment for years and successful at it, just another opinion.

Just like any other book on trading, it's all just someone's opinion and that's fine. But I am of the belief that until you actually do what you are commenting on, it's just a speculative opinion. For example, I would think that being a social worker can be a rewarding job even though it pays very little. Now, someone that was actually a social worker may disagree completely and say that with all the red tape, the job is terrible. Obviously my opinion was not worth much b/c it was based on my opinion only.

[Kiwi]

You might want to look up Curtis Faith.

I have gone through "what you have" both as described above and as a manager of sales people and as a manager of managers of sales people.

What I don't have is experience of seeing many of them move to trading. What I do have is experience of seeing a lot of people move to trading and fail.

[brownsfan019]

	Quote:	Kiwi
	You might want to look up Curtis Faith.

Faith is Galt's Chief Investment Officer. He is an original Turtle, an elite member of Richard Dennis' trader training program. Called the most successful of the Turtles by the Wall Street Journal, Faith has been developing computerized quantitative investment strategies for more than 20 years.

Faith is also a seasoned technologist and entrepreneur. He has founded and/or worked on the startup team for several enterprise software and technology companies including Borealis, Sierra Software, Efficient Field Service, OneCard, and ScoutFire.
Galt Capital: The Most Profitable Community Of Investors In The World

- Ok, there is his bio. Not sure what I am supposed to see here b/c I see no reference of being in an actual sales position.

	Quote:
	I have gone through "what you have" both as described above and as a manager of sales people and as a manager of managers of sales people. What I don't have is experience of seeing many of them move to trading. What I do have is experience of seeing a lot of people move to trading and fail.

OK, missing the point again... I don't see how this translates to the argument that previous sales people make bad traders. The fact that a lot of people fail has no correlation to a previous career as a sales person.

[Kiwi]

You can be obtuse. Where does this say "sales people make bad traders?"

	Quote:	Kiwi
	Interestingly I was reading the first couple of chapters of Curtis Faith's new book "Way of the Turtle" and he points out an area where ex-sales types may be at a disadvantage (although five or six months on commission only waiting to become rich does toughen one up a bit - especially after the 3 months guarantee runs out). Outcome bias: The tendency to judge a decision by its outcome rather than by the quality of the decision at the time it was made. Sales types are very focussed on the numbers. No matter how much process is discussed you end up a hero or dead on your numbers. So it may be harder to detach from outcome and focus on process than for some other former careers.

[brownsfan019]

Let's see where it is implied that ex-sales persons make bad traders:

> he points out an area where ex-sales types may be at a disadvantage

> Outcome bias: The tendency to judge a decision by its
outcome rather than by the quality of the decision at the
time it was made.

> Sales types are very focussed on the numbers. No matter how much process is discussed you end up a hero or dead on your numbers.

> So it may be harder to detach from outcome and focus on process than for some other former careers.

Now, since I am 'obtuse' please elaborate on how those comments do not imply or flat out say that ex-sales persons may be a bad trader.

And if this is not your point, what was the point of the initial post to begin with? Tin and I shared REAL LIFE examples of how coming from a sales background was to our advantage and you chime in with some quote from some guy's book who's never been in sales... What exactly were you trying to share with the group?

PS
If you want to start the name calling, feel free to spend your time over at elitetrader. To say that I am "Lacking quickness of perception or intellect" is what I expect over at that place. Take your name calling elsewhere unless of course the plan is turn TL into another version of ET. Completely immature Kiwi and it simply shows how childish some people are, regardless of what forum they may post on.

[Kiwi]

LMAO brownsfan, You take the cake (and can keep it).

Why so incredibly defensive? Not only does it not say "sales people make bad traders" but you take name calling to a special level. Very small.

James. I can't be bothered with his sort. Hope the site rises above him.

Good luck.

[cooter]

Yep, looks like the ET attitude is slowly creeping in over here.... Shame.

[Soultrader]

Hi guys,

Let's do our best here to respect each others opinion and keep the debates constructive. No need for personal attacks and such. Please lets try to keep it friendly and educational. Thanks

[fatdog1]

This is the best message board I have ever seen for traders.
I hope it stays that way.
I don't have time to post during the week, but I do like to read on the weekends.
Thanks SoulTrader.

	Quote:	Soultrader
	Hi guys, Let's do our best here to respect each others opinion and keep the debates constructive. No need for personal attacks and such. Please lets try to keep it friendly and educational. Thanks