Last week, we did something a little different.
If you missed it, you can catch up here.
If you can’t be bothered, to summarise, we explained why we (as in your editor) won’t follow the advice in the new trading service we’re about to launch.
Not because the service has a terrible track record – it doesn’t…it’s among the best we’ve seen in 20 years publishing financial content the world over.
And it’s not because the strategy sucks. Again, it doesn’t. It’s a fine strategy – a strategy that many investors should use.
Our simple rationale for not using it for our own investments is that your editor doesn’t have the right temperament for it.
Trading is all about temperament. It’s about knowing or learning or following a system, and then following it rigidly.
Your editor can’t do that. We’ve tried… many times. There’s just something in our DNA that makes us want to go ‘off piste’ when it comes to trading – and that’s never a good thing.
The fortunate thing is that we recognise that, and so we’ve gotten out of the trading game. If you have the same tendencies, you should follow your editor’s lead and also give our new trading service a wide berth.
By the way, if you want a simple test to figure out if trading in general is for you, consider the following. We call it the ‘Instruction Manual test’.
Your editor is the type of person who can’t bear to read an instruction manual when we buy a new appliance. We just flick all the buttons, press things, flick switches, and so on.
In the end, we figure it out.
Compare that to our late father-in-law. When he bought a new appliance, he would read the instruction manual from cover to cover, make notes, and underline important points with a pencil.
By the end of it, he would have figured it out, too.
In fact, it probably took us both a similar amount of time to work out how the thing works… one by trial and error, the other by reading and applying.
In our view (and experience), trial and error doesn’t work when it comes to trading. You lose too much money along the way, and you don’t really learn anything while you’re at it.
That’s because the markets change. What you learned from trial and error in February isn’t relevant to the market in September.
But having a proper system and strategy and then following it to the letter… that does work.
That’s the type of person you need to be in order to successfully follow any trading system, not just the service we’ve just launched. You have to ‘read the manual’ to understand what’s going on, and to know what to do.
Cheers,
Kris Sayce
Editor & Publisher, Investor’s Daily
Editor, Investor’s Daily
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