TOOLS and SKILLS

Our job is to determine which direction market is likely to go. But we face mental challenges or mental bias. It comes in the form of overbought, oversold, indicators cross overs (macd or stochastics), volume, patterns .... and the list goes on not to forget the plethora reports you hear or read.   

When your mental state has decided with the vocabulary, it is unlikely you will be able to switch off your views. This is one of the stumbling blocks we face as we swim with the sharks.

As we observe and track markets with charts, we can be deeply immersed in the details that we see the trees but blind to the forest. The holistic approach to successful and profitable trading is not about how much details and intricacies you know or how well verse you are with the reports that is published but rather do you have a tool that is statistically profitable consistently!

The people who taught us in primary schools remain as primary school teachers while the students progress to be world class renowned people or billionaire. Among students there are different grades performers despite using the same books and teachers. Why? The argument is we have different IQ. When we are in the financial markets, we can read the same reports. Some will view it as SELL others might feel it is a BUY. Yes, we will forever have different opinions and that is why there will always be sellers and buyers.

Don't think that after some lessons you are going to be expert. It takes an average of 16 years of education to get a DEGREE. How long do you think it will take you to be a PRO in stock market?

One of the thing that we fail to understand is market can do anything at anytime rationally or irrationally. Either agreeing or disagreeing with our opinions! Market activities comprise of cumulative emotionally charged actions.

You can create a "master piece" if you have the right and proper TOOLS and SKILLS. Do you have what it takes to create a "master piece'? IT is your responsibility to take care and serve your own personal interest. It is not the authors of the reports to serve your interest.

If your results has been consistently YO-YO, it is better for you to sit back and review if you have the right and proper TOOLS and SKILLS.