What do you think? Could you cook a delicious meal or bake a tasty cake exactly the way your Grandmother did?
About twelve years ago, I decided that I wanted to make my own pizza. I wanted it to be tasty, I wanted it to be easy to create and I wanted to do it in 10 minutes or less with common ingredients.
So I started to play around and try out this and that. And I have to admit, that the first attempts were a mess. You couldn’t eat that stuff, maybe you could use it as a frisbee.
But my results got better after a few month and now my whole family likes my pizza. My daughter loves to cook and she asked me if I could teach her, how to make my 10 minute pizza.
Guess how long it took her to learn? Exactly 10 minutes, because of that most important thing, that you also can use to improve your trading results. What it is? It is called a recipe, a formula, a step by step guide, a process and it might have several dozen other names.
But to pinpoint it, it is to reproduce something that works and is documented in a way, that allows other people to repeat the steps, focus on the right process and the right ingredients that produced the desired result before.
If you build a house, you are going to plan it. You decide if you are going to have a shower and a bath tub, and the exact location and size of these two things a long time before even the first part of the house will be build.
You can measure every inch and you know the exact size of every room. That is how people build houses and it is common behaviour.
But if you are going to trade, you do what feels right, might work or worse, you do what other people told you to avoid to be guilty later on when your money is gone. You chose something today and another thing tomorrow.
If houses were trading systems, some workers would show up by random and would use construction material as it showes up on the construction area to build anything at random.
If you ask one of the workers what part of the house he is building right now, he might say: “I don’t know, we will see how it works out and decide later where this fits into the house”.
That way you would get a roof with two different angles lying on the ground, even before the first floor was build.
Is this something, that feels familiar to you when it comes to trading?
Are you a hope trader, always hoping that things will work out?
Then the Golden Goose course might be for you!
Or do you prefer to produce cake with fish by guessing?