If you want to learn something, read about it. If you want to understand something, write about it. If you want to master something, teach it.

Yogi Bhajan

I was at a New Year’s Eve Party with some neighbors and one of them asked what I do for a living. I mentioned I write articles among other things and he said, “you must of liked English in school.” I responded that I actually didn’t like English, or writing for that matter; at least about the semi-useless stuff we were all assigned in the hallowed halls of university. Writing is an acquired taste, one which requires finding something you’re passionate about. That’s the trick I think.

See, I’m captivated with Wall Street. I love the idea of learning a principle and being able to apply it immediately for financial benefit. As opposed to, oh, I dunno, everything I had to memorize in college. Except Econ 110. That class was totally worth it. As a result of my obsession I find writing about money to be immensely satisfying.

Passion? Check!

The next essential ingredient on my list is ego. Yup, I have one. So do you. Because of that ego phrases like, “if he can do it why can’t I?” and “anything you can do I can do better” often circle my head.  I get so impressed by a well-crafted sentence or better yet, a story that’s full of them. Particularly when it’s someone churning them out effortlessly every single day. I want to be able to do that. When I first started reading the Wall Street Journal and Investor’s Business Daily I would cut out articles of interest and highlight any new vocabulary terms. When Mad Money first hit the airwaves on CNBC I watched it religiously with pencil and notebook in hand. Memorization doesn’t equal mastery though. For that we need implementation. The ability to weave new concepts and terms into conversation with ease. Back when I first started teaching I set a daily goal of using at least one new term in conversation. At first I probably sounded like an idiot.

I’m not completely brave though. To hedge my risk I focused my first few attempts on the more, shall we say, obtuse pupils under my tutelage. Needless to say any mistakes or awkward phrasing was indeed lost on them.

Over time the exercise lengthened my lexicon while amplifying my articulation abilities.

One of my favorite commercials growing up had Michael Jordan and Larry Bird engaged in a shooting competition to win a Big Mac and fries. They were each driven to one up the other. The competition fueled their creativity. No doubt they both had healthy sized egos.

Ego? Check!

As a teacher my objective is to teach something in the simplest, most enlightening manner possible. I love the challenge of coming up with a better way to explain something. A master teacher’s bag of tricks should be littered with effective metaphors and analogies.  I think that’s why mentors are always fine-tuning and tinkering with their teaching process. They’re engaged in the endless attempt to improve their craft even if it’s only on the margins.

One of the most enlightening things I’ve heard about writing is “I write to learn what I think.” Writing delivers the most impact to the author, not the reader. If I want to find out what I think about a topic, I write. If I want to learn about something, I write.

Desire to improve teaching skills? Check!

What, you think I write for you?

No way. I’m a selfish sonofagun doing this for fame and money. If you learn something from my ramblings I assure you it’s unintentional.

Enough about me. Let’s focus on you. Think about the benefits waiting for you as a trader if you’re but willing to create some kind of journal or blog. The aforementioned reasons why I write are obviously reasons you should too. But allow me to mention a few others.

First, and perhaps most important, writing will give you an opportunity to articulate your trading plan. If you can’t articulate it, it doesn’t exist. The best traders can tell you exactly what they do to make money. There is no ambiguity, no confusion.

Second, you can multiply your comprehension of trading books. Reading a book is easy. It’s a passive endeavor. Writing about what you learned and how you’re going to implement it is another thing altogether. For example, I’m reading Ben Bernanke’s biography The Courage to Act.  It offers a peek into the mind of a Fed chairman unveiling their perpetual obsession with inflation and deflation. It even includes discussion of hawks and doves for bird lovers. Each time I stumble upon a new topic of interest I make a note to circle back and write about it later. Such an endeavor increases my learning exponentially.

Third, and final – this is getting lengthy – write about the strategies you’re trading. Pretend you’re teaching them to someone else. The process causes the dynamics of each strategy to sink deep into your bones so you know exactly how to deploy them, and how to manage when things go awry.

Alright. Go put those stubby fingers to work. Chop-chop cowboy.

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