Saturday, January 7, 2012

Be a Smart Consumer

Many times, I was asked how I learned and developed my skills? A few years back, I attended a course conducted by Robin which was my teacher. Why was I piqued to his course? The reason was simple, it was because he actually posted all his track and trade record during the seminar and also his entry and exit points, therefore he managed to convince me into attending his course. Judging from his entry points, I can postulate what sort of a trader is he and how good is he at spotting stocks before a breakout/breakdown, his cut loss prices and his profit targets. Now, after attending his course, I got to admit that I can't be like him as he is too skilled as a trader and therefore I need to find something that suits myself so that's where I developed my own theory. It's not wise to use other people's proprietary method, polished it and make it like it's your own. You can use their method to trade because you paid for it, however once you learned it, don't sell their method as a course or service like it's your own. I truly despise that. Of course, that's me. Everyone is different.

Watching and study the psychology of the market becomes an addiction of an inveterate speculator like myself. To be good and get enlightenment, I need to go through the path of losing money to understand how it feels and see how sensitive money is to me. As I gain more experienced in my speculation activities everyday, I realized, actually money is just a reserve to me so that when the time comes, I have the reserve to put it on the line. Money has no value at all, it's just a tool.

So where should one start from here. I believe courses are important as it allows one to shorten their learning path and Robin has definitely helped me to achieve that. So to my fellow fans, if you are to go for courses and when you are willing to part thousands of dollars, the first thing when you choose a course is to always ask for track and trade record. Personally for me, I would rather pay money to buy someone's experience than to buy his training ability to teach. Because it's simple, with the thousands of dollars you paid for course, it doesn't make you an expert instantly, you may buy his knowledge and skills, but you can never buy his experience and memory where he had seen it all. Knowledge is textbook stuff which can be found in books, experience is the journey that one went through to gain enlightenment which is the intangibles that cannot be transferred or subtracted. And as we know, the market is dynamic, textbook stuff can never mimic the forces of the market.

Ronald K - Market Psychologist - The Big Speculator