What do you do and what is your success recorded, do you follow your mentor's guidelines and advice?
Do you follow your instincts and if yes what are the results you got in terms of the profits ratio against the loss ratio?
One thing is learning and another is following guidelines, just as when you get a product you read through the guidelines on how to make use of that product, but so many investors always neglect that and go straight to taking every decisions that comes to their mind. Most times i follow guidelines but in rare cases I follow my instincts looking at how the markets goes and it sure turn out well but it's best to stick to mentorship and advice.
In practice, we often differ from what we learn, it is normal as long as it does not deviate far from what we learn. Moreover, we also need adjustments to follow certain situations and there we are actually required to be able to learn more deeply. Because what we learn from guidebooks, social media or other media can be different from what happens. I mean while learning we may not need emotions or mentality, but when we enter the market, our mentality is really tested there and that can also destroy all our knowledge.
The social we learn may not be the same as what actually occurs when a person is put in certain situations, and this is as you might expect. The important thing about theory is that it provides a concept when in a certain situation, many things come into play, hence affecting our decision making. They (phone conferences) are not only a part of gaining knowledge, but rather a way of experiencing pressure, uncertainty and changing conditions. The last few weeks have shown that we are capable of surviving seemingly aimless and purposeless and still not lose one’s morale. In particulare, if one is only equipped with knowledge but not ready to meet different changes, the knowledge he or she gains may be in vein. Hence, each step is always in a process which is continuing even to the last step we take.