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Almost everything in this thread was also a big misconception of mine.
But I think the biggest one was: once I started making money consistently, all the effort was done and it would be easy to spend the rest of my life just replicating same trades and collecting money.
The truth is: nobody masters the markets. It is a constant learning process and it will always be challenging, no matter how successful and experienced you are.
Once when I was young and naive I actually believed that one could determine the right price for any asset through basic fundamental macroeconomic analysis and traditional absolute and relative valuation methodologies.
Not surprisingly, this myth is still perpetuated by many of the most prominent voices in academia and the investment management industry, simply because their careers depend upon people continuing to believe their myth.
My biggest misconception about trading was that it was simply a matter of finding a set-up and trade management scheme which over time would result in larger wins relative to smaller losses. There is nothing simple about it.
Mine was I was just clueless about what I was actually doing. Thinking you can just follow someone else's trades and make money then retire haha. Then went into just buying indicators that I thought was going to lead me there. That didn't work. Now I'm making money using indicators that don't cost and I don't follow anybody.
