So it has been a while since the last post, and I wanted to make this a little special. Mostly because I have seen my trading drastically improve over the month. While it has been a roller coaster ride to understand the different nuances of the market, there has been once medium which has provided me with ZERO help (unless I actually know what I am looking for)
Yes! I will repeat, Zero help and I am talking about social networks. Primarily the social media platforms which are too big to fail.
- GOOGLE* (not really a social network)
What a minefield of information all in one place. It is crazy to think that there is possibly a video for everything you can think off, but there lies the problem. If you want to learn how to trade or invest in the financial markets, you will find multiple videos from gurus who know how to do it best. The trap that most people will fall into is the fact that they are starting from zero knowledge and try to learn all the information from so-called experts. While you may believe this is not an issue, let me be the person who saves you from disaster.
“NO VIDEO ON YOUTUBE IS GOING TO TEACH YOU HOW TO TRADE OR INVEST”
the reason is straightforward. When you are trading or investing at the highest level, you do not give away your secret source. All they want you to do is get sucked in so that they can sell you a course or keep you coming back to the same videos boosting their view count. At the end of the day, these people are trying to build multiple passive incomes, and by watching these videos plus buying their courses you are lining their pockets with money.
Remember if it is being taught in a youtube then where did the YouTuber learn what they know?
I call Instagram the hit or miss platform. The reason being is that Instagram is where people show off how much money they have made from their trades or investments. Showing off would entail
- nice holidays
- fast cars
- watches (Rolex and the rest)
Now that is great, but you are looking for a mentor or someone who can teach you how to trade/invest. You will struggle to find someone out of the millions of fake accounts which are posting junk on their feeds to “SHOW YOU THE LIFE”
My advise when it comes to Instagram, start your own account and hold yourself accountable for your learning. Showing people the hard work you are putting into becoming a better version of yourself. Don’t forget to post about the good and the bad. Plus you can use this same methodology to filter out Instagram accounts you want to follow.
e.g – A trader only posting his best trades is a trader hiding something. Don’t follow them. Its a fact that everyone gets it wrong once in a while lol.
Saving the best until last. To be honest, I have nothing bad to say about Google searches because a bad input = bad output. It is just a search engine, which is trying to provide the most relevant content based on your search term. I used the word “relevant” because google does not review websites like they are publications.
So, in theory, you should not trust everything you read on the internet.
Start buying published books on the topic that you want to learn. If you can not find a published book, then you have not searched hard enough. There are books published all over the world, and some just don’t make it to certain countries. It is sad, but this is just the facts of life. Books were the only medium to learn from before the internet, and as the younger generation keep learning they instantly avoid books as if there is nothing in them.
“It is crazy to think that every video created about a topic was written down as a note or document before the video”
If all else fails and you can not read or find a book, then I advise that you experiment, test and write your own book.
Since the start of the year, I have been taking my own advice. Searching books to find answers to questions, and doing my own field test where I can. It has enabled me to learn fast and not feel the need to second guess a publication. Why? Because authors need to be held accountable for the books they write. Typical books are reviews or read by people in the field who are industry experts.
Try my approach for a month and see how much you can learn from a book. Let Youtube and Instagram entertain you, but don’t use them as your go-to source for answers.