Someone once asked him:
"How can I become [rich] like you, but faster?"
Charlie replied:
"Spend each day trying to be a little wiser than you were when you woke up.
Do what you need to do seriously and properly.
You move forward step by step, not necessarily in sudden leaps.
Discipline comes from being ready for those leaps.
Keep fighting, inch by inch, day after day.
In the end, if you live long enough, most people get what they deserve."
I’m going to borrow from his answer to explain mine.
So how do you get good at trading, quickly?
Wait for it...
By forgetting the word "quickly".
1) There’s no fast track in trading
Anyone who promises otherwise is lying to you, or hoping to get rich at your expense.
Why?
Because they don’t know:
- How well you manage your emotions
- Your personal situation
- Your financial situation
- Your trading ability
- And the list could go on for another twenty lines
I could teach you my entire trading strategy and give you every piece of advice I have. If you don’t practise regularly and seriously on your own, you won’t get the same results as me.
But that isn’t really a problem, because these are things you can work on.
Quickly? No.
With time and repetition? Yes.
Which brings us to the second point:
2) Build repetition
I have a friend who plays the piano.
I asked him how he could play his pieces without sheet music.
He told me he plays with the sheet music until he can reproduce them from memory.
But that can take time.
Trading is the same.
Even if you learn an excellent strategy, you won’t feel comfortable applying it straight away.
You’ll realise there are plenty of situations you weren’t prepared for.
But once you’ve been through a hundred of them, you’ll know what to do.
That gives us this equation:
Learn something + apply it = understand it better
Of course, you still need to know what to repeat and how.
That’s where solid foundations come in:
3) Build the right foundations
Now that I’ve shared how I see it, let me give you something practical.
I’ve already written a complete guide on the subject.
It took me several hours to write, so have a read if you’re interested:
How to learn trading properly in 6 steps [2024 guide]
And to sum up everything I’ve just said:
P.S. You know your ego’s getting out of hand when you start posting screenshots of your own tweets.