I love them all as they are so true, but these three ring home the most:
10. Fully automated systems for retail traders are like giving a racecar to a 16-year old kid to go to school. Many accidents can happen along the way. If one cannot profit placing trades manually, the chances of profiting from automated trading are very low or 0.
11. The markets reward discipline and proper risk management more than intelligence.
12. Trend-followers are engaged in a very risky game unless they can maintain a high win rate during periods of choppy markets, but unfortunately few do.
It’s been over 25 years since I bought my first stock.
It’s been about 10 years since I settled on trend following as a strategy that works for ME.
I am still unconvinced of the best way to invest which is why I only like to disclose what I am actually doing when it relates to individual stocks. Telling you what to do is not my style.
All that said I believe everyone should own individual stocks and everyone should also be dollar cost averaging on a regular basis into low cost, tax efficient ETF’s.
AND, do NOT be cheap when it comes to a trusted advisor if only as a second eye to a quarterly or yearly rebalance of your protfolio.