Towards the light.
The more you know, the more there is to know. New students are eager to learn and make money, but that’s just not how it works.
Would you trust a doctor who learned his craft just by reading books? The learning curve you’ve got to submit yourself to in order to become a skilled physician is tremendous. Reading books are just a part of it. Practice is king and the total control of emotions is paramount.
It is no different in the financial markets. It will take years of reading, learning and practice for you to become a successful trader and investor.
Markets change: new products will be available, old products will be made obsolete.
Technology changes: We went from analog to digital and God knows where we’re heading to during the next decades.
Central Banks change: they are always searching for innovation in their policies. You think you can’t teach an old monkey new tricks? Think again.
You better keep the pace (and learn to protect yourself from central banks innovations).
Humans, well, we change too, except for our cognitive biases. The technology leverages them all. Learn how to avoid’em and also profit from them.
Being hungry and foolish all the time is good but the pace should be steadfast. Like physicians in their own craft, it will take years for you to gain experience in the financial markets.
Keep going towards the light but don’t try to outpace it. The problem of being faster than light is that you can only live in darkness.
