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I was asked recently how one becomes a good trader. After thinking this
over a bit, I asked him to explain to me how to be a good driver.
Like when the car begins ... (not after you can see it but just feel it),
to drift in one direction or another, you correct this drift so slightly
that the correction isn't even felt .. just the feeling of the drift goes
away. When you are close behind another vehicle, you "sense" when that
person may stop/slow and you ease off. You don't see brake lights or rapid
acceleration or slowing .. just a sense of that driver's mannerisms that
you can't explain. Or when you see a car pull into the right lane from a
side street and you "know" he/she will not cross into your lane when they
enter the traffic flow and you know when they probably will do that.
Can you tell a newbie driver how to sense these things? Can you explain
them? Can you tell them when to steer left or slow down to avoid problems?
No! These are things that they have to learn .. have to sense, have to
"feel" and not everyone ever does. Even with experience, they never do.
Others learn to "know" what to do but explaining it? How? Telling someone
to buy T for a reason that disappears 2 hours after you suggest they enter
it isn't teaching or helping.
The markets aren't charts and historical info that is programmed to be
repeated. They are people. Drivers. You sense them and you adjust as
required but you feel it .. you know it... you sense the fear, you feel the
sentiment changing .. you move with it .. not after you see it .. with it.
After 30+ years in the equities markets, this is all I know. All I can
tell a new trader. All that matters. I hope everyone has a great week.
Bob
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