Market is the most mysterious puzzling and competitive place in the world and also is the destination of genius and rational people: Mathematicians, Physicists, Doctors, Psychiatrists, Scientists, Business Magnates, and engineers.
They expect to get richer playing in the stock markets. Well, that may be the initial intention; however, this intention tends to change over time after they become impatient. They start pursuing excitement and thrill and buying more stocks on which they have no advantage of. That’s what I call “GAMBLING”. On the other hand, some people learn and start having the right attitude towards the market which is to have an understanding of what the market really is. They manage risks, spend time reading books, and collect the right knowledge to solve the mystery over years.
Many do not understand what the market is and what Mr. Market can do. It is the most competitive and harsh environment in the world, without having any edge, your investment would become a suicidal operation. I have seen so many people go broke following what everybody else follows. I have seen they trade only on hope or fear. If you got only hope to hold on to, hope will definitely ruin you, it is nothing more than wishful thinking and provides no basis for your action. On the other hand, fear may save you if you act quickly when you admit that you are wrong because “The fear of the market is the beginning of wisdom”.
To eliminate the hope and fear, and obtain confidence instead in your investment, you need the correct knowledge. The right kind of knowledge such as accurate records which you can only obtain by studying deeply in the past. Then you would predict and be able to detect the trend of the future.
Investment or speculation is the best business in the world. However, you need to make a business of it. To make a success, you must study and be prepared without gambling on the market. Your success depends on knowing the correct rules and having the discipline to follow them. That’s how you prevent yourself from getting lost in the market. Interestingly, I happened to find people whose goal is to solve the mystery end up with unnecessary money as a byproduct.
Ecclesiastes 1:9-18
The thing that hath been, it is that which shall be; and that which is done is that which shall be done: and there is no new thing under the sun.