How do you spot a lie?

Posted by on Jun 26, 2017 in Be a Trader | 0 comments

If you are laughing, no problem, it is out of frustration, I get it.

In today’s modern era the cliche is “I don’t know what to believe.” I know that my friend sorry to say it but that is the facts!

That makes it tough, not knowing what to believe when it comes to making money with your money. The pain of not knowing what to trust will impact everything from the initial consideration to the profit/loss outcomes.

Booyah!

Plus most of us are sick of all the platitudes engulfing our trading life. Like,” cut losses short and let profits run” and ” past performance is no guarantee of future results.” Blah Blah

Traders rely on statistics, which suffer from an image problem. Ok got it, everyone knows there are three types of lies — lies, damn lies, and statistics. Even after the joke ends, today people just don’t believe in statistics.

You only have to go back to the 2016 Presidential elections to see the failure of the polls preceding the election. Their inability to predict the outcome of the race accurately makes it easier to understand the public distrust in statistics.

There is a large plurality of people with no faith in statistics, leaving a clear division; and just not politically.

On the one side, there are people who see statistics as crucial. On the other side are individuals that see statistics as rigged. On the one hand, statistics are needed to move beyond emotional anecdotes, used as an objective measure of progress. While many other people only see fabricated numbers. This group feels the numbers do not reflect what’s happening in their everyday lives.

On the one hand, statistics are needed to move beyond emotional anecdotes and used as an objective measure of progress. While many other people only see fabricated numbers. This group feels the numbers do not reflect what’s happening in their everyday lives.

What makes the widespread distrust even more confusing for the informed trader is the knowledge we have that the continuous period of no market volatility, will not be different. That change will come back into the market, and it is not a dull idea when Warren Buffett says “the true investor (trader) welcomes volatility.”

Does it go without saying that with change comes an opportunity for those who are ready, right

If we as traders have to rely on statistics, what are the ways to spot the lies and find the reliable numbers

While some vendors hide their product under the veil of superficial high prices, in real life good advice is free. It is work that will costs you money.

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