Originally published by Chamber of Merchants
First, a Vision to Align and Unite Us
I want you to imagine driving in a storm. You’ve picked the car of your choice, you’ve packed everything you believe you need, and you set off to your destination. However, a storm looms ahead and before you know it you’ve slowed your pace and you can barely see through the windshield as the drops, the size of grapes, pelt down. I’ve been in weather like that. Even with the windshield wipers on, you can barely make out the distance to the vehicle ahead and the lines on the road are completely obscured.
That is what its like to begin trading the stock market. For some the rain and lack of visibility remains for years, perhaps to the point where they pull over and abandon the vehicle. In other words, they abandon their goals for success in the stock market because it is simply overwhelming. Close the account, withdraw the balance and go save it, working back what had been lost.
So what could have been done differently to avoid the scenario above? I mean, it was always going to storm at that time. The weather is a set of systems within systems and it would always have resulted in a storm at that moment.
So what could have been done differently?
Well, the driver could have checked the weather report. Some read the paper, some use the mobile phones, but an indication of what the weather would be like would have been helpful.
The windshield could also be treated with water repellant solution, to make sure the water slides of instantly, helping to maintain a clear view.
An alternative route could have been planned, in case any unforeseen circumstances arose on that particular road.
A halfway pit stop could have been nominated, to take a breather during the storm. Grab a coffee. Maybe bump into me, have a conversation and when the skies clear up we’d be on our way again.
At some point I’ll go into detail about how this applies to trading, but, succinctly, consider the following for your trading:
- Are you sure your industry is in a bull trend if you’re trading long? (buying to sell higher later)
- Are you educating yourself? Trading and even long term investing is a business. You need knowledge.
- Do you have a mentor? Do you have exposure to someone who actually knows the stock market?
- Do you have exposure to other traders? (profitable & consistent traders: not punters/gamblers/mates etc)
- Do you have a system with goals?
All the above are extremely important for success. Among the most important is having a mentor and exposure to real traders. If you’ve never traded before, then believe me, it’s like you’re walking into a predator filled jungle wearing a speedo and bedtime slippers. You’re simply not prepared for what’s about to happen. And if you happen to be profitable, I can almost guarantee it’s simply luck. Luck is not a system. Luck is a coin flip and can never be relied upon for consistent growth in wealth or income.
So give some weight to my thoughts above: if you find that you’re not enjoying your journey, feeling directionless or hopeless, then you’re probably missing a bulk of the above.
You cannot trade in isolation. No trader is an island. It’s only if we’re connected that we can be part of the larger network of knowledge and trend.
I hope that the Chamber of Merchants assists you with at least some of the above, by exposing you to thoughts and conversations and that you never would have been exposed to otherwise.
I hope that what we share here is a beacon of light in a market of madness and that it provides a clearer view of where we are in the greater scheme of things.
I hope that what we share here is providing you with an educational experience unlike any other: an education where you can learn to think and fend for yourself in the market and the economy, learning to overcome your own weaknesses so that perhaps in the future you may assist and mentor others on their path to becoming a capable and confident market participant.
Above all, I hope that when you are successful in various aspects of your life whether it be family, career, sports or hobbies, that you will look upon others with kindness and good will.
That when you find them, like children by the side of the road, covered in dirt and dressed in rags, without a means to be free of their predicament, that you will be the bridge to their success by giving your time and your support.
I trust that such an attitude and approach will extend to all areas of your life and that you won’t wait for some day, but rather commence today in contributing back to those around you in whatever capacity you are able: doing so with no reward or praise in mind, although the reward will certainly be present and real in their success and experience.
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