It is so important in the beginning to get educated. If you are lucky you’ll find a teacher who really walks the walk and is consistently profitable. Too many beginners are looking for “hot tips” or the next “sure thing”. They get the impression after a few penny stock home runs or lucky bets that trading/investing is easy, until they discover that it is not, at least not in the long run.
They would be better off learning from the great traders. Famous traders, like Jesse Livermore and George Soros have written books or done interviews that contain important lessons for beginners. Their words may sound cryptic, but they are golden if you’re trying to improve. There are also courses available from great Traders like Courtney Smith and Larry Williams, or great investors like Phil Town. Investing your time and dollars with any or all of them would be money well spent.
I have taken something from all the courses I have even been on and my educational costs to date are over $50,000. This may be beyond most new traders, but unfortunately, other than the experience of time, the only way to fast track your success is to spend money on course after course with master traders and investors, and they are rarely cheap!
Isn’t that the same with anything in life? There are no shortcuts except by following the path that has been laid out for you by those that have already paid the price for the knowledge. And that knowledge will come at a cost. What you will learn is that success will come if you have a profitable technique, are disciplined in your approach and remain persistent and consistent.
However, finding a good teacher is not easy. It is my intention to record my own system in such a way as to make it available and affordable for all in early 2013. As strange as this may seem I am not in the teaching trading business for the money, I genuinely want to help people.
As the old proverb goes, I would much rather teach people how to fish than have them reliant on me, so that is my goal for 2013.
Helping people fills my Karma bank and makes me feel good about myself…and to be honest it strokes my ego too. But ultimately it’s not about me, it’s about your success that matters, my success is already assured.
May today be a profitable day…for all of us!