Tuesday, June 13, 2006

The Trading Battle

How much training you need depends on the job you want. If you
want to be a janitor, an hour of training might do. Just learn to attach
a mop to the right end of the broomstick and find a pail without holes.
If, on the other hand, you want to fly an airplane or do surgery, you’ll
have to learn a great deal more. Trading is closer to flying a plane than
to mopping a floor, meaning you’ll need to invest a lot of time and
energy in mastering this craft.
Society mandates extensive training for pilots and doctors because
their errors are so deadly. As a trader, you are free to be financially
deadly to yourself—society does not care, because your loss is someone
else’s gain. Flying and medicine have standards and yardsticks, as
well as professional bodies to enforce them. In trading, you have to set
up your own rules and be your own enforcer.
Pilots and doctors learn from instructors who impose discipline on
them through tests and evaluations. Private traders have no external
system for learning, testing, or discipline. Our job is hard because we
must learn on our own, develop discipline, and test ourselves again
and again in the markets.Trading is an continuous battle of mind and
the one with emotionless thinking enjoys the cake.Trading requires
continuous updation of skills and thinking to get money out of mighty


bliss said...

superb, wellsaid
may i request you to feed me
where i can learn,
deeply, i would love to deeply learn to fly the aeroplane,
pl inform me

Anonymous said...

Hi Rishi,
Why are you such a kanjoos? We all look forward to your charts and the commentaries of individual stocks. But you have not put out a new one in weeks!
Please do put out one every few days, so that apart from gaining wisdom we can also make a few rupees (no crores, please).
Best Wishes,

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