≈ Now finally revealed. ≈
Forrest Tucker: If I ever wonder what I’m doing or where I’m going, I just think of myself as that little kid I was. Now, would he been proud of me?
Jewel: So is he proud of you, that little boy?
Forrest Tucker: Well, he’s getting closer every day.
— The Old Man & the Gun, 2018 —
For you, what is the definition of success?
For me, a plausible definition, one that I can easily understand and take further action to correct my own trajectory, is the one depicted in the dialog between Forrest Tucker (Robert Redford) and Jewel (Sissy Spacek) from the movie “The Old Man & The Gun”. If the kid you were at 12 is proud of you today or getting closer every day, that’s it. The rest is just that, the rest.
So, what’s the secret to being a successful investor? What do you have to do NOW, to quickly become a successful multimillionaire?
The secret is that there is no secret. There is no shortcut. No algorithm. No witchcraft. The financial market is a place reigned by randomness, and uncertainty and the path to a wealthy future is a long and winding road, just like life itself.
Being successful both in life and in trading requires more or less the same process. In that sense, the financial market is a metonymy of the social interactions we meet day in, day out. The human nature is perfectly represented there: in hopes to improve our wellbeing or to get closer to the higher purpose we are looking for, we engage in voluntary exchanges. There is hope in the mixture, but also high doses of fear and greed.
Our soul has its own ancestors. We are lived by powers we don’t even understand. The will to get somewhere must be greater than the pain we have to endure to get there. The goal is not the destination, but the path itself. That’s where the success lies.
Chart of the Day
From Keith to Michael
Video of the Day
Ray Dalio breaks down his “Holy Grail”
To Ray Dalio, the “Holy Grail” is a sweet spot between diversification and correlation.
Today’s line up
Markets, Systems, and Conditions Part IV
Last week we talked about the second market phase and that is breaking out to the trend. This is the phase that most of the investing public looks for. They like those long trending bull markets because they get to see their equity rise and it feels good.
Traders Lounge 11PM EST
Join the coaches in this live lounge, ask questions, discuss ideas or just sit back and listen to veteran traders discuss market conditions.
CashFlow Club 8:30 PM EST
Held every Thursday before Friday’s option contract expirations, this show helps you perfect your favorite cashflow strategies.
Halftime Report 12:30PM EST
The Halftime Report starts at 12:30 EST and covers what news is driving the market, chart analysis from the movers and shakers of the day and fun in a way that only Matt and Tim can deliver.
The Market Recap is designed to give you a quick overview of the day that was. While brief, this report is designed to cover all of the major events that drove the markets that day and help you plan for the trading day ahead.
Trading Justice episode 321: Noah Davidson on Trading the Bear
In this episode of the Trading Justice Podcast, Coach Noah Davidson joins the team to discuss the recent volatility in the markets and how to trade bearish with some of his favorite strategies, products and tips for you to use.
Financial freedom is a journey
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