Unfortunate to know your losses and mental trauma both. Welcome to world of deception and lies, thanks to easy access and rapid distribution the scale has become unprecedented. God knows how many more will fall into pit of emotional greed. One event ends with brou ha ha and begins another one.
Have you noticed a common pattern in last few years; 'it appears most of successful traders if not all
- Do not have a background in finance or portfolio management or similar. They never worked for a financial services industry. Have you wondered the folks working in investment banks, idiots despite of working in back room of industry; don’t know how to trade! Not necessary to have finance degree or experience in financial services firm. Looks like 99.9% of industry guys from financial services are most unsuccessful traders and investor. Don’t blame, you will be informed about school drop outs like Bill Gates and likes of Zuckerberg! Our traders here get a eternal kick overnight, turned 360 degree from one passion to another, landed up as billionaire. Alas, Mr Bezos please note, you are going to have a tough time.
- All of them wanting to be mentor, one or other means. Some open academy, some does 24 seminars, 120 webinars even. Interestingly everything comes at a cost. You shouldn’t be bugging about cost, why anyone will impart their billionaire screenshot ideas for free! Mr Jack Schwagger you need to re-write books again. You told us lies when you wrote great traders don’t train. You cheated us when you wrote one has to be mercilessly obsessed to become a successful trader. I can become a trader by spending 364 days in training and webinars!
- Compounding is eighth wonder of world, Albert Einstein was wrong. If I can double money everyday why the hell even you need to compound. Some makes 700% ROI in 90 seconds. Pity those employees who running around 365 days for a 4 lacs salary with 10% increment. Fools are like of Mr Nithin Kamath who gave away heart & soul, still struggling to create enterprise of repute over decades.
We may not like, but do a fact check-----it reveals otherwise:
- 55 out of 59 market wizards interviewed by Jack Schawager do not have a twitter account, blog or any other form of social networking. It’s not that they are not internet savvy but they restrict themselves to what they want not indulge in meaningless 2 way conversation.
- All these 59 traders do not have sell courses, academy or webinars! One or two does a yearly program for 3/4 days; that’s about it.
- Numbers and processes were audited by a reputable big 4 accounting firm before calling them as wizards. It’s not the wizards needed media but media needed wizards. They were too big to be overlooked.
- Most of the wizards didn’t like to talk about their processes or methods. Are they selfish. No. They know it very well, no method fits anyone as it is. It’s better always to find out a way for yourself.
Now here comes last shot, why these 59. There can be still many more. Of course there are, people trades in India, they make money and lose money. They mentor people but cost is not criteria. They enjoy their lives, they are not Jhunjhunwalas or Damanis even. Because an en devour is about finding a right tuning in life where you can immerse yourself for rest of your lives without regret. And that happiness and process is enduring not ephemeral.
I think it’s a time we must increase awareness across length and breadth of traders.