Learn To Unlearn

My journey as a full time stock trader has been been more than a decade now and what I have learnt in these 10 years is that it is easier to gain new knowledge but extremely difficult to unlearn. The market is full of information from various entities, right from your own thoughts to the ones you come across randomly over the internet. Every piece of information that you as a trader come across leaves a mark in your mind and thus has a deep impact in your trading performance.

Now imagine that you read some article or a blog or watch a YouTube video, which might have a negative impact on your trading. This is not because that the information was not right but it is because the information that you acquired does not fit your trading mindset. Say, you read posts on Twitter about option sellers doing well in their trading and they are generous enough to share the tips free to general public for others to benefit from them too. You being a directional trader, who have spent long hours studying price movements that results trending move, will definitely not gain from the posts shared by option sellers. Rather that is going to have an adverse effect on your trading. 

This type of information when absorbed by a trader it actually becomes very difficult to erase from the mind, and the trader succumb to the new knowledge that he has gained. Even though it sounds good to gain new knowledge and acquire more trading skills, in reality it might be working against you in the long run. 

So, try to introspect which type of trader are you, what is your trading strategy is all about and only then learn the tools that is suits you as a trader. Once you have recognized it, the learning part gets smooth and helps you to take your trading to the next step.

Hope the year 2020 to be a fruitful year those reading this article.

Cheers!