Profitable trading is not about knowledge. David Jaffee with BestStockStrategy.com
and in this video I'm going to teach you and relay my opinion
don't read any current events or anything like that I don't go on seekingalpha.com
but I can tell you from experience that one of the biggest
problems that a lot of my students run into is that they subscribe and read
so many different newsletters that they get confused they try to be extremely
rigid in their rules and they try to learn everything and predict future
price movements when you try to do that and you become so rigid then you just
simply get confused you have to keep things simple and internalize the
important strategy and that's the best way to be successful I keep things as
simple as possible I wear the same thing every day
I eat the same thing every day and I only keep a watch list with a maximum of
5 to 15 securities and I have a multi-million dollar account and I can
tell you that keeping things extremely simple is one of my main keys of success
then I have students with virtually no options trading an experience telling me
that that they're gonna trade SPX because it's a 1256 contract and then
they're gonna always trade at 45 days to expiration and then close it at 50% if
it doesn't or 21 days whichever one happens first and I can tell you that
all those things are great to have in the back of your mind and I love the
fact that you're interested in selling premium but at the end of the day if you
have a checklist that has too many things on it and you read too many
articles not only are you wasting your time and you're effectively gaming
yourself because you're acting like you're making progress by investing in
knowledge but this knowledge is unable to be monetized and worse yet when you
feed yourself garbage like you feed yourself garbage food or you feed
yourself unhealthy garbage information not only is it not going to help you
make but is going to hurt you. Again I just
want to be incredibly clear that you have to take in and internalize only the
best information and ignore everything else is just like food when you consume
information and you try to consume and aggregate too much knowledge then you
are going to get fat you're going to get confused and you're going to make
mistakes. That's why I eat the same thing every single day healthy fats a lot of
coconut oil avocados I eat meat, grass-fed organic beef, around two times
a week so that I don't increase my mTOR pathways and also I'm not flooding
myself with it with too much too much protein
I don't eat carbohydrates so even though there's a plethora of food out there
that I could consume I am extremely selective on what I put in my body and
the same thing with you. Trading successfully is not a knowledge game I
don't care if you go on seekingalpha.com if you watch CNBC.com if you read
CNN that's not going to help you make money I went to an Ivy League university
I worked on Wall Street and I didn't learn how to treat options successfully
until I learned through experience and I simplified everything so again you can
try to you can try to pretend or you can try to kid yourself or fool yourself
into thinking that the more you read and the more knowledge you have the more
money you're going to make but that's not true that's kind of like saying that
the more you eat the healthier you're going to get that's actually false
actually fasting and intermittent fasting is way healthier for you and
it's been proven to extend your lifespan a lot more than actually eating actually
starving yourself and having intermittent fasting like having a three
day water fast once a month is actually healthier for you than eating all
organic grass-fed meat and healthy fats like avocados meaning that if you do a
three-day water fast it's actually healthier for you than eating anything
at all. And the same thing applies for trading you should stick with the system
have a minimalistic amount rules and be successful by following
someone who you trust who is very successful themselves and who is also
responsive to your questions into your needs so do not get caught up in the rat
race of having a lot of knowledge will immediately yield more wealth and more
and more gains and more money because it's not true it's just like eating and
just like with eating and just like with your health when you fast and you go on
an information diet and if you fast and you do a three-day water fast that is
going to reset your hormonal balance is going to increase your in it's going to
decrease your your insulin levels and increase your insulin sensitivity and
that can be the healthiest thing that you should do so just like health-wise
it's good for you to do a 3 day water fast every single month it's extremely
healthy for you to limit all of your information sources and not consume that
much information and make things as simple as possible and that's why
information does not equal profitability and information does not equal success
and knowledge does not equal success. You need to know the basic minimalistic
amount of knowledge combined that with experience and combine that with a with
a with a desire and to always be successful and to learn from all of your
mistakes and that is how you can achieve success not by trying to go and jump on
the hamster wheel and delve into the rat race of trying to be the most
knowledgeable person because just like when you eat a lot of stuff that is
actually very deleterious and that's gonna have very harmful effects so
definitely don't go and perpetuate this myth that knowledge is money because
it's not you want to starve yourself with the information to only feed
yourself the absolute best quality foods and you should be persistent in
improving yourself in learning skills you can go to BestStockStrategy.com
and enter in your email address and receive over $400 dollars worth of free
training materials my name is David Jaffee if you have any questions you can
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