This is a YouTube video titled "The Truth About Trading: Not an Entry Level Job" containing a monologue or talk discussing the Dunning-Kruger effect in the context of trading skills and proficiency. The speaker explains how less skilled traders tend to overestimate their abilities. The content is educational and reflective about trading psychology.
Trading is not an entry level kind of job. So again, that sounded like a snob. Simply a fact. Truth of the trading world. But here's what's cool. And I've heard of this before. Didn't know that there was actually a study and a name for it, but it's called the Dunning Kruger effect. And it's where you have a cognitive bias. Where if you're in the. Let's say, like with trading, let's say you're in the lower quartile, you're in the bottom 25% of traders regarding skill and proficiency and success. And just generally you know how solid and knowledgeable you are as a trader. Generally, the people in the lower quartile will way overestimate their abilities and where they are.
