A short YouTube talk by Adrian Reid (recorded July 2, 2024) arguing that fast progress in trading depends first on clearly defining trading objectives for each account (personal, retirement, crypto, stock) and then selecting strategies that fit those objectives and personal constraints (time commitment, risk tolerance). The speaker emphasizes asking high-quality questions about needs and constraints before asking how to make money.
What it really comes down to, I think is.
Understanding the objectives that you've got for your trading. And you know, I've got a set of objectives for my personal account, I've got a set of objectives for my retirement account and you know, I've got different objectives, my crypto trading versus my stock trading and so on. And when we understand what those objectives are, then we can go and find the right strategies for them. And you know, it's a lot of people will just rush in to go, oh, how do I make money trading? That's actually an early question. That's a, that's a later question. The first question is, well, what do I need? What, what, what can I cope with? What are my objectives in even doing this? Do you want to spend five hours a day staring at the screen as it goes up and down? I hope not. Or do you want to, you know, spend five minutes and, you know, trade once a week? You know, there's all sorts of objectives you can have. But once we're clear on our objectives, then we can say, okay, well how can I trade in my long term retirement account? Very infrequently because I don't have a lot of time, nor do I want to. I want it to be a conservative strategy. I want this much return with maximum, that much drawdown. How can I achieve that? That's a really great quality question.
Right. And progress in your trading is about asking great quality questions.
