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Table Of Contents
Key points
Highlights of this Chapter Chapter 4 of The Mindless Investor was an interesting look at how Tyler got his start and progressed as a trader and we highly recommend taking a look at it. In keeping with the more instructive nature of this series of reviews, we chose to move ahead to chapter 5, which […]
Highlights of this Chapter
Chapter 4 of The Mindless Investor was an interesting look at how Tyler got his start and progressed as a trader and we highly recommend taking a look at it. In keeping with the more instructive nature of this series of reviews, we chose to move ahead to chapter 5, which builds on the idea that trading success is more about self-mastery than market mastery. Understanding that systematic, methodical training can make you a successful trader is possible and it all starts by looking at the world the way a trader would.
Key Point #1: To be a trader, break free of the “investor” mindset
In order to be a successful trader, you have to be willing to move in and out of a position when given the right signals to do so. Because traders speculate on price movements, they pay attention to the price “noise” investors try to avoid.
Key Point #2: Successful trading takes dedicated training
While timing markets is often considered hard to do, in reality many things are hard to do until one knows how to do them. Anyone with money is allowed to participate in the markets, however that easy access is dangerous for most people and their capital. The biggest hazard for most traders is not having committed the time, effort and discipline it takes to learn how to trade well.
Key Point #3: Take it one step at a time
Learning the “what” of trading well is far simpler than learning the “how”. One of the biggest cautionary notes is that before stepping into any kind of speculative activity, know how much you can afford to risk. Take time to learn and become confident at what trading involves before taking bigger risks in the market.
Look Back / Look Ahead: A Review of Canadian Online Brokerages in 2021 & Preview of 2022
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December 31, 2021If you thought 2021 was an eventful year (and it was!) at Canada’s online brokerages, wait until you see what’s in store for 2022. In this milestone issue of the Look Back / Look Ahead series, we hear from leaders at Canadian online brokerages about what they saw as the biggest highlights, as well as what they’re working on to impress self-directed investors in the next year. Also, we’ve got the scoop on four new online brokerages moving into the commission-free trading game.
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Mark to Market: The “Limit Buy” Part 2
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February 25, 2021Welcome to part 2 of Mark to Market, the comic where we break down complicated market concepts into easy to understand comics. In part 1 of this chapter, Mark Tradewell, a fictional DIY investor, decided to invest some of his funds in his Tax Free Savings Account into shares of the ABC company. When he […]
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