Have you ever seen one of those courses promoted that promise to teach you everything there is to know about winning big in the stock market?
Several years ago, I was attending a Tony Robbins course in Vancouver and happened to catch one of the opening sessions with a hedge fund manager. This manager was getting the audience excited with stories of making huge gains in the stock market with his fool-proof methodology.
The crowd - mostly young, high-achievers with a “hustler” mentality - were excited to learn from this market guru the secrets to making money with a click of a button. The catch? You could only learn the true method by joining this manager at a $7,900 one-weekend training course in Atlanta, Georgia.
As you can imagine, that sticker shock was the first step toward a limited-time “only because you are here!” discount for the same teaching in Vancouver that following weekend. As a money manager who is experienced in helping clients learn new skills for building wealth, I was interested in learning if this new method was possible - so I raced to the front of the stage and signed up.
Taking the Plunge
Over the course of three days, I and 600 other excited stock market trainees watched as our new guru led us through hours of real-time trading. By the end of the session, I decided to continue the training with a year-long course at a much more specialized level.
Eventually, I decided it was time to move from simulation money to real market trades. I made my first trade… and lost $3,000 all at once.
I was shocked - all that investment and training, only to lose out on my first trade? The loss hurt my pride and ego, and I become too paralyzed to get back into the trading game!
3 Unexpected Lessons From My Stock Trading Course
So was my training course a waste of time and money? Of course not!
In retrospect, while I may not have become the next stock market guru, I did learn three valuable lessons that I now pass on to every client I coach:
1. Some People Are Just Lucky
I know - It’s not a scientific answer. However, 16 years of coaching experience has shown me that some people are just more lucky in their investments than others! One way to take advantage of this is to learn from those “lucky ones” and try to match their techniques yourself.
2. You Have To Get Serious
Those stock market success stories? They didn’t get there overnight. It’s an incredibly hard and time-consuming process to make it big in the market. You will need to make sure have the time to invest in investing. If you have various hobbies, a family to maintain, or other priorities, then you need to make sure you have time to invest.
3. Taking Courses Has Unexpected Benefits
Ultimately, taking the stock trading course taught me more than how to trade. I learned new skills, met new people, and actually had an incredible experience the whole way! It’s important to take the time to quantify your purchase when considering a course. Ask yourself: Am I going to learn a new skill or meet a new person who can change my life forever?
Investing is not black and white. It’s a moving, living, and breathing entity that is always changing. You will win some, lose some, and experienced quite a bit of inner turmoil along the way.
But remember this: putting money into learning is an investment that will always pay dividends.
Want to hear more great lessons on life, happiness, and true wealth? Check out the Picture of Wealth podcast - hosted by Dustin Serviss. Discover the tips, tricks, and insights that unlock a life well spent. Listen today where you listen to podcasts.
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