The Mixed-Up Files of SEMI Collective (Part 3)

I’ve been going through my “drafts” folder this year trying to finish partially-written blog posts and get more organized. This is another series of unfinished posts.

From October 2016, I have a post about the SEMI group concept. I also had four other incomplete drafts. I have cursorily looked over these drafts along with the actual post. The content is different.

I resurrected Part 2 here. In the longshot case that someone out there could possibly benefit from any of this, here is what I believe to be Part 3.

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Debunking common myths or evaluating supporting data involves application of critical analysis to financial claims. I have found many claims in the financial space to lack supporting evidence. Laypeople seem to think claims are justified when presented by “financial professionals.” I strongly disagree. Claims without supporting evidence may sell mutual funds and financial advisers but they will not help me trade. Failure to properly identify and avoid baseless claims will likely leave me chasing losing endeavors that will drain my capital and my spirit. We will strive to always be aware of this common pitfall.

I hope you will not misinterpret my willingness to share as a hypocritical large ego of my own. I ultimately want to hear other group members doing much/most of the talking but I am willing to do a lot of talking to get us started. I have a great deal to say from full-time trading experience. I can share my mistakes and many of the things I have investigated. I can talk about others’ ideas and teach basic fundamentals of trade vehicles and strategies. I am passionate about the importance of understanding what we don’t know and at times I tend to get loud in debunking hollow or inconsistent claims of others. I certainly may be wrong about anything at any time, and I will remind you of that. We should all feel free to confront when we perceive data (or lack thereof) to be inconsistent with the conclusions.

Think carefully about whether this group is for you because it does warrant a minimal level of commitment. Scrolling through Meetups, I see various excuses from people about why they cannot attend (e.g. something came up, work got busy, nice weather, etc.). I understand that trading is a part-time hobby for most. Life gets busy and trading sometimes falls to the back burner. As someone who worked 60+ weeks for three years to learn the craft, though, I also believe intermittent attention is no better a way to learn trading than jogging a couple miles here or there is an effective way to train for the Boston Marathon. To get good mileage out of this group, you should make it a priority.

With regard to most trading groups that collect [inactive] members, I don’t doubt these people liked the idea of learning to trade. People are drawn by the allure of generating trading profits, the allure of building a retirement nest egg, and perhaps even the allure of quitting their full-time job and being able to be their own boss. The industry paints a wonderful picture of all these things and suggests easy and straightforward ways of accomplishing these goals. I think the reality is different. You can learn to trade and you can take control of your own finances but it will require work and it will require commitment. Down the road, I believe a strong sense of achievement awaits for those who stick with it.