Class Notes: Hypothetical Conversation with My Younger Self

Introduction

• Four-part series; this is part one.
• Hypothetical conversation with my younger self.
• Focus on aligning expectations and experiences.

Main Topics

• Reflection on personal and financial growth.
• Discussion on past mistakes and lessons learned.
• Emphasis on personal development and trading experiences.

Key Points Discussed

Avoid Seeking Approval from Others

• Family: They may not understand or support trading efforts.
• Friends: Often only interested when success is visible.
• Coworkers: Tend to be negative, possibly resentful.
• Strangers: Lack understanding, offer little constructive feedback.

Focus on Risk Management

• Vital for long-term success in trading.
• Learn to manage and limit the frequency of trades.
• Avoid turning short-term trades into long-term risks.

Prevent Imbalances in Life

• Balance trading with family time.
• Establish a study and trading schedule.
• Be mindful of rest days and avoid trading-related activities.

Be Patient with Development

• Understand that development takes time.
• Avoid taking excessive risks and rushing the process.
• Learn about personal traits that affect trading.

Additional Lessons

• Avoid buying retail logic and tools.
• Don't chase gurus or subscribe to trading signals.
• Develop independent trading strategies.
• Be willing to accept and learn from losses.

Personal Reflections

• Regrets about lost time with family due to trading.
• Importance of being present in family life.
• Desire to prioritize life balance over financial gain.

Conclusion

• Trading is a personal journey; it requires personal growth and learning.
• Part two will discuss optimal entries in trades.
• Emphasize learning from mistakes and proactive risk management.