I started out young as a trader. I started in high school. I didn't know anything. But I was keen to learn.
There were only a few books on investing so I read them all.
But trading in the real world is different from reading about it. You get punched in the face. But books don't punch you.
So I started trading and got punched.
But I got lucky and was able to trade in a major bull market. I was luckily not smart.
And then I read a book called Viewpoints of a Commodity Trader by Roy Longstreet. It changed my life.
We're there great entry and exit rules that made a lot of money? No.
Did it show me how to day trade profitably? No.
Did it teach me how to analyze fundamentals? No.
It gave me wisdom.
Wisdom enables you to:
- Look at all of those things and quickly see if they make sense
- Give you perspective on all aspects of trading to create greater profits
- Give you deeper understanding of trading so you can withstand things like losing streaks
And it is these things that separate great traders from all other traders.
I was so fortunate to have found that book at the beginning of my career.
It is not for everyone. It is really designed for commodity traders but I still recommend it for everyone to read.
But that book came out in the 1960s.
I decided to write my own version as an homage to Longstreet's book. I hope I have succeeded.
Click here to learn more about the book.
Good wise trading,
Courtney Smith
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