The old saying that ‘Knowledge equals power’ is simply not true. The correct saying should be
‘Knowledge that is ACTED upon equals power’
The difference in these two statements is massive. No matter how much knowledge you have on a certain subject it doesn’t equate to anything unless you use this knowledge to take the relevant action.
If you have an amazing knowledge of Investment Strategies but you forget to actually implement this knowledge then you aren’t going to receive the true benefits or power that deserve to be associated with this knowledge. Now this may sound very simplistic and basic but you would be amazed at how many people have great knowledge that they never put into action.
Human beings have a terrible habit of underestimating their ability and knowledge. We also have a bad habit of wanting to know everything about a subject before we actually put it to use. I can tell you now that if you keep waiting until you know everything then you will never actually start.
READY FIRE AIM
This is one of my favorite sayings. Too many people spend too much time Aiming and forget to actually Fire. The best way to get things happening is to fire and then start worrying about the aim.
So am I suggesting that you start gambling with your money on the Stock Market with Strategies that you don’t properly understand? Of course not but I am suggesting that your start Trading on the Stock Market with Fake money. Paper trading is one of the best ways to learn as a Stock Market Investor. So once you learn a new Stock Market Investment Strategy you should start to paper trade and see how you go. If your aim is a bit off then readjust some things and try again. My main point is DON’T wait until you know everything before you start implementing your knowledge.
‘Knowledge is too precious to not use it’
Does Ready Fire Aim mean that you shouldn’t do loads of research and preparation? Not at all. You should be very thorough in your preparation but not so thorough that you never get to put this knowledge into action. It is a common misconception that once in a lifetime opportunities only come around ‘once in a life time’. The reality is that we can create our own once in a life time opportunities every single day. We simply need to implement our knowledge by taking proactive action.