I don’t just read and blindly apply. I don’t blindly accept anything that I hear or see. OK.

Not just in trading but everything in my life. I don’t blindly accept things.

I always whenever I read a book or I watch a video I learn something. I will always try to sit on it and think about it very hard.

Does this make sense to me? OK.

So what I would like to say is that despite me reading 50 books I don’t agree with all the things that I read in all the books.

So I only pick out those that make sense to me that I think is convince me.

But of course, sometimes is that when you read about something that you’ve got to look at the market and apply it a bit so that we’ll see whether that agrees with you or not.

So for example when I read 50 books right things like trend line support resistance when I read about how it works how to actually do that. It made a lot of sense to me. 

That is why I say is that is my world view of looking at things and it will make sense for me.

But when I read on books that things that Elliott wave Fibonacci or the other the harmonic kind of patterns where they take away they assume that a market follows a certain cycle, it doesn’t appear to me it doesn’t make sense why things work.

It’s also a bit of why some people they believe in the religion, they have faith but why some people don’t believe in religion. They don’t. They don’t have faith in God says stuff like that.

So for me I always think about does this make sense to me. If it makes sense to me that I would dive in more to try to study more I would try to apply it. And over time you will start to realize that you will either start to dump something away from your arsenal of knowledge or some of the things you dive deeper you realize makes a lot of sense when you keep on diving and deeper and deeper and deeper.

That is how you start to go on a very wide path. But as time goes by you narrow down to the path that you take.

So there is no shortcut to it. You just have to go through it, read, understand, think does that make sense to you.

If it makes sense to you, you try applying and once you apply over time, you will either reinforce your belief about it or you will come to a point where it still doesn’t make sense to me that you drop it and then you move on.

Interested to receive mentorship opportunities like this with Philip?

Find out more at traderwave.com/innercircle

Philip Teo

Founder & CEO at Traderwave Pte Ltd
Philip Teo is an entrepreneur, speaker and trading coach who specialises in the field of Technical Analysis of the financial markets. He is currently the Founder and CEO of Traderwave Pte Ltd, a financial technology company that offers a web charting application to global traders. He has conducted many trading seminars and appeared on national television before. He is also currently an official speaker and trainer with SGX Academy. Learn more about him at his Google+ Profile, LinkedIn Profile and Facebook Profile

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