I got an email from an experienced investor who is asking whether with all the training, books etc that I’ve digested to become a trader – is 3 hours (workshop session) enough? First, I want to tell you that it is a continuing process to be a master at what one does whether it is investing or whatever profession. With the 3 hours – I will be able to impart a structured learning approach, critical ideas on investment psychology, how to create business rules plus I’m giving a sample which you can customise for yourself and assess the business environment (market) for low-risk high-reward investing. This will form the foundation from which you can invest profitably and keep improving yourself to achieve consistency.
Many people are preoccupied with entry techniques which includes how to understand charts, see patterns etc. Dr. Tharp calls this a “bias” and his most important lesson is that you may think you are “right” when you make an entry into the market — however, the market will do whatever it wants to do when you have entered it. According to his research, entry is only 10% of the success factor in investing. What matters most – the 90% of your investing success – are your low-risk ideas your system, position-sizing which I will discuss in the 3 hours of our workshop. Another major component – your investment psychology will be discussed as an overview although the in-depth discussion is in my bootcamp (which I hold once a year) and of course, the esteemed courses of Dr. Van Tharp (his work is tremendous, what I discuss is from my experiences which I process through his teachings).
And finally, I say to people who use all the charts and indicators — it’s fine, if you enjoy it and it works for you, that’s a good thing.
To end, I would like to say, “when you teach you learn twice”. I look forward to progressing my learning with my fellow committed investors tomorrow.