Never Stop Learning

I was reminded of this old cliche last night as I attended an options trading discussion group, led by my broker thinkorswim.

I rarely make New Years' resolutions, and this year was no exception. However, I did promise myself that I would spend more energy on becoming an expert in my field of endeavor. I've been a Trader for nearly 11 years now, but I've never truly considered myself an expert. Or for that matter, ever truly competent - as some years' results might suggest.

As such, I've taken to reading more books on strategy, subscribing to other traders' blogs, seeking mentors, and attending free seminars or classes whenever possible. Already, I feel my efforts are slowing beginning to yield positive results.

The discussion group I attended last night was often times tedious due to an over-abundance of amateur traders who are still very new to options trading strategies and risk management (admittedly, the target market for this discussion). However, I'm glad I went because I was able to leave the meeting with a page full of useful notes - and more importantly - a good feeling that the strategies I've undertaken in my trading are a prudent and statistically favorable approach to generating consistent returns. It's one thing to have confidence in what you're doing, but it's even better when your suspicions are confirmed for you by someone else whom has made a very good living over 25 years in the market employing similar strategies. It nothing else, I left the meeting more confident, and more optimistic about the future.

Learning doesn't end when you graduate from school. It should be a lifetime commitment, and I have found that learning in the real world is far more rewarding and satisfying. For me, learning a new trading strategy and being able to immediately apply it to my day-to-day activities is exciting. And how learning should be. College is great, I'm not here to discredit higher learning. But learning theories in classrooms and writing reports about your theoretical finds is an empty exercise. You need to apply what you've learned to the real world to see how it truly functions. And in the trading world, there is no greater measuring stick to determine how smart you are than your ever-fluctuating, real-time, profit or loss. Cash money.