While his view is hardly universal, Sperandeo downplays the significance of intelligence to trading success. Based on his experience in training thirty-eight traders, Sperandeo concluded that intelligence was virtually irrelevant in predicting success. A far more important trait to winning as a trader, he says, is the ability to admit mistakes. He points out that people who tie their self-esteem to being right in the markets will find it very difficult to take losses when the market action indicates that they are wrong.
