I think it was Confucius who said, “Real knowledge is to know the extent of one's ignorance”. I find that quote one in which I must contemplate for a while. I would like to know I have the capacity to realize when I was skewing more so towards ignorance, rather than remaining rational. I also have to consider the nature of ignorance means I’ll never be successful in that endeavor.
Putting that aside for a bit. I have many goals, like so many of you reading this post, I would like to accomplish before I depart this life. Professionally, none more important than in the same vein as Richard Dennis and William Eckhardt, training average people how to successfully trade markets. I’m not talking about hosting a webinar on how to place a limit order. Neither am I referring to what James Cramer does on his Mad Money TV show where he states what he thinks you should buy and what he thinks you should stay away from. I’m talking trading success.
Individual self-sufficiency. " A Turtle for Today"...My Turtles.
I’ve written about these two characters before (Dennis and Eckardt). The story of their Turtles haunts me. I have read all I could find on them. Suffice to say The Turtles are largely anonymous today. To me, that’s ok. I actually respect that. But if you're like me, you’ve searched the ends of the Earth to find that one thing that separates us, as traders, from all others. How does the trader of today, differentiate themselves to achieve long-term success? How does today's trader get an edge on all the competition? These are deep, but relevant questions to ask ourselves in the trading business. Inheritant or otherwise through formal means...smart people want to impress you that they’re smart. They want you to understand the depths of their knowledge is complex...so much so, that going to the store for bubble gum is not as simple as it would seem. That these things are complex, and your simple minds would not understand.
I will impart one thing to all of you who have taken the time to read this Sunday diatribe of mine...Reject that notion and, ERROR ON THE SIDE OF SIMPLICITY.
Simplicity in how you interpret your analysis.
Simplicity in how you develop every trade thesis you execute.
Simplicity in how you approach trading in general.
If a lay person cannot agree with you, then in my opinion, you’ve over complicated it. It goes back to when realizing we’re being ignorant. The very nature of ignorance is not knowing, so it’s somewhat counterintuitive to come to some realization. I will not draw this post out so long as to the point it’s gets boring so I'll conclude. I studied Economics in college and was fascinated by it. I met my wife in Freshman ECON 101 and we’re still married today. I learned about the money multiplier, supply side and Keynesian economics, and the role of the Fed. I could write a 100-page post on this subject matter. But in as much I enjoyed learning about these things....AS A TRADER, I HAVE FOUND THEM TO BE WORTHLESS.
If you’ve read this post to this point, please allow me to leave you with this parting nugget of wisdom. And a simple reminder. YOU’RE NOT AN ECONOMIST. YOU’RE NOT A GEOPOLITICAL EXPERT. You’re not a mathematical Nobel prize winner or contender.
You’re a trader. So keep things simple.
“Unrealized intelligence I’m sure is a Chinese proverb”.
Chris Maikisch
Best to all,
Chris
Putting that aside for a bit. I have many goals, like so many of you reading this post, I would like to accomplish before I depart this life. Professionally, none more important than in the same vein as Richard Dennis and William Eckhardt, training average people how to successfully trade markets. I’m not talking about hosting a webinar on how to place a limit order. Neither am I referring to what James Cramer does on his Mad Money TV show where he states what he thinks you should buy and what he thinks you should stay away from. I’m talking trading success.
Individual self-sufficiency. " A Turtle for Today"...My Turtles.
I’ve written about these two characters before (Dennis and Eckardt). The story of their Turtles haunts me. I have read all I could find on them. Suffice to say The Turtles are largely anonymous today. To me, that’s ok. I actually respect that. But if you're like me, you’ve searched the ends of the Earth to find that one thing that separates us, as traders, from all others. How does the trader of today, differentiate themselves to achieve long-term success? How does today's trader get an edge on all the competition? These are deep, but relevant questions to ask ourselves in the trading business. Inheritant or otherwise through formal means...smart people want to impress you that they’re smart. They want you to understand the depths of their knowledge is complex...so much so, that going to the store for bubble gum is not as simple as it would seem. That these things are complex, and your simple minds would not understand.
I will impart one thing to all of you who have taken the time to read this Sunday diatribe of mine...Reject that notion and, ERROR ON THE SIDE OF SIMPLICITY.
Simplicity in how you interpret your analysis.
Simplicity in how you develop every trade thesis you execute.
Simplicity in how you approach trading in general.
If a lay person cannot agree with you, then in my opinion, you’ve over complicated it. It goes back to when realizing we’re being ignorant. The very nature of ignorance is not knowing, so it’s somewhat counterintuitive to come to some realization. I will not draw this post out so long as to the point it’s gets boring so I'll conclude. I studied Economics in college and was fascinated by it. I met my wife in Freshman ECON 101 and we’re still married today. I learned about the money multiplier, supply side and Keynesian economics, and the role of the Fed. I could write a 100-page post on this subject matter. But in as much I enjoyed learning about these things....AS A TRADER, I HAVE FOUND THEM TO BE WORTHLESS.
If you’ve read this post to this point, please allow me to leave you with this parting nugget of wisdom. And a simple reminder. YOU’RE NOT AN ECONOMIST. YOU’RE NOT A GEOPOLITICAL EXPERT. You’re not a mathematical Nobel prize winner or contender.
You’re a trader. So keep things simple.
“Unrealized intelligence I’m sure is a Chinese proverb”.
Chris Maikisch
Best to all,
Chris
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.