I'm borrowing the title of this post from one of my dear brother, @simplifylife. Usually, he is the one who steals my images to make his piece look more aesthetic. But now's the time to snatch back what is owed an due. The reason behind stealing is that the doc here using this title writes out all the poop he has in his mind, turns them into a post, and then forgets about them in the process. Well, I require a similar service now, hence the grand heist.
I think I now partially understand what "buy the fear, sell the greed entails." Udemy has a 43-hour runtime trading course with the same name that they are selling for 200$. But for as long as I have been in the market, I now know you learn and earn much more by loosing that money in a trade.
How would that work, if you may ask? Enter a position in a volatile market with that amount. When the dust settles, and if you are at a loss, instead, look back at your trade, see what went wrong, go to uncle google, and start researching. By The time you are done with all that "self-help", you would have learned so much, You yourself would be able to make videos for a change and earn a shittone more by being a YouTube trading guru.
With that being said, I am in no way disrespecting what you might get to learn from those videos on Udemy. But why I will never pay to watch them is because trading in itself is elementary. You buy low, sell high to earn money, sell low buy high to lose money. But, the only thing you would need to learn out of all the caricatures of technical analysis of a chart is how to "read" a chart. And not even the whole chart, just the bit where the market goes red or green. And that doesn't come in videos.
Now, the process of understanding a chart, too, is relatively simple. Market either rallies or dips. Meaning it goes down or up. Now you can say, bro, you talk too much! We all know it goes up or down. What is the point that you are actually trying to make? That no guru, trading book, signal group or most sophisticated indicators can teach you how to understand if the market is moving except for first-hand experience.
You see, the market simply can not be predicted, but it can only be maneuvered through. You assess the risk and choose the least risky path. To be more precise, only as much risk as you can handle. It's like riding a bike. Without falling, you just can not learn. And when you do learn, the process of riding a bike engraves itself in your muscle memory. The more you train it, the better you get.
For trading, you train your brain as all of the tools you need are inside your head. You discipline it and teach it how to think multiple things at a single time very efficiently. And finally, how to reach a decision very quickly with absolute coherence. None of the actions you take can be out of disconnected illogical choices. And you need to be highly vigilant at all times.
Maybe the best lesson to take from that course, Udemy, is in its title. Buy the fear, sell the greed. When you understand what that means, you will have finally become a trader.
And now, for your viewing enjoyment, an image as a cover that in no way is relatable with any of what's written above.
