CLOSING THOUGHTS

The better you know your stuff the better your chances of surviving are.
It does require extra work learning everything you can about the markets
you trade, but you will only be a better trader by doing so. Some of the
things I mentioned you will only gain knowledge of through time by watching
markets day in and day out. If you are lucky and have experienced
traders who you work with, you may be able to learn faster. Just don’t rush
things and expect to know how the markets will react to every piece of news disseminated out there. And don’t get stubborn about what you think
should happen. Remember the markets are always right, and they will tell
you where they should be—not the other way around.
When I was studying for my SATs I learned the word “parsimonious.”
Twenty-five years later, I don’t think I had ever used it, until this sentence.
Yes, it has nothing to do with trading but it was a thought I had while I was
rereading these closing thoughts so I figure I’d share it with you.