Experience Takes Time

Jeff Davis
Jul 20, 2017 · 4 min read

Blessed to have the opportunity to be at the screens full time for 17 years I understand the need to be positive on a daily basis. You have to believe in yourself. You need to live with grit and persistence. I know I sometimes write some blog posts that have a negative slant to them. This isn’t because I’m not positive. It is because I am trying to convey the simple fact that the path you have chosen to make a living is a hard one. Fin-twit oftentimes portrays this business as easy. That is not the truth in my opinion. This business is the most competitive it has ever been. This doesn’t mean you can’t succeed and realize your goals, but understand the commitment it is going to take to achieve it. Money is not just laying in a corner for you to go and pick it up. It takes work, lots of it. At first this work will be done only to enable your ability to survive. That’s right just survive. We all enter the arena with dreams of grandeur only to be rudely awakened at some point a short time later. Yes, it was just a dream, reality is now staring us right in the face. Survive is the goal. Why? Because the longer you can survive the more experience you will attain. Don’t kid yourself it will take some time for you to figure out what you are going to trade, how you are going to trade it and when you are going to trade it. Each of those matter and your first stab probably lands far from where you actually end up.

There will be many times that you lose money because you haven’t seen or experienced what is taking place in the markets. You don’t understand the cycles simply because you haven't been around long enough to see a few. Eventually you will know what part of the roller coaster you are on. There will be times you make money in a way that is sure to lose you much more over time and you just learned the wrong thing. The cruelty of this is it takes time to know and understand that this is what took place. There is nothing more deflating than thinking you now have some knowledge that is going to work consistently only to find out you were wrong. Crushing doesn’t even begin to describe this. Yet you have to find a way to be positive and get back to work. Not easy but required. Persistence must become your middle name if you are going to survive and find a way to prosper. Survive the learning curve, then comes a your chance to prosper. Then the fun really begins. Now you think you have it all figured out you made it! You are finally prospering. Then the market changes. So cruel. Now you are the proud new winner of the chance to attain some experience in surviving again. Stay positive. Stay persistent. Keep learning. Survive and prosper. Time and experience is what makes pro traders because experience takes time. Learn to enjoy the challenge of the work. Embrace the losing and the winning. They are both on the same coin. Make sure you stay persistent in taking action to correct weaknesses and develop strengths. Learn to temper impulsive actions. Slow down in everything you aren’t going to miss anything. Many times the initial action won’t get you where you want to be, but it may allow another chance to survive. Experience takes time. Each of us acquires our experience at different rates. Sunk costs are are part of the business. Mistakes and rabbit holes are sure to cross your path. This is not easy and it is not for the lazy. It is for those that can stay positive in a sea of negatives and be gritty and keep at it. Markets in 2017 are the most competitive they have ever been. Experience takes time and there is no rushing it. If you try to hurry in the markets it usually doesn’t end well. I know Twitter and Stocktwits will try and convince you otherwise, yet reality is only a draw down away. Survive first, then prosper. Always make decisions that ensure survival and I am positive you will have a chance to prosper.

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