The Labor in Learning

"Learning isn't easy. But without it, failing is." This powerful quote comes directly from the mouth of Tim Sykes, one of the most successful penny stock traders in the world. Now there are definitely a lot of mixed opinions concerning Tim Sykes and his character. Many people find him to be wildly entertaining, comedic, bold; a brilliant master in his field. Others mark him as arrogant, rude, self-centered and over-the-top in his presentation. No matter how you may feel about this avid day trader, it doesn't take away from the truth found in his aforementioned quote. Tim Sykes is constantly urging his students to study, study, study...and then study more. He is a day trading guru who provides day trading courses filled with hundreds (if not thousands) of hours of video content, as well as books and online reading material. He provides a live trading chatroom and daily lessons for all his participants to glean from. I have personally watched many of his YouTube videos and even read through his entire online guide titled "Penny Stocking 101." Though I never invested in any of his actual "paid" courses, I can honestly say that I learned a lot about day trading from this guy. Even though I could never fully endorse his program (for various reasons unmentioned), I always respected the fact that he was completely transparent in letting people know how difficult day trading is and how likely they will fail if they are not willing to work incredibly hard and make a huge sacrifice of their time to do so. He never once split hairs about this. He actually went to great lengths to discourage lazy and uncommitted people from taking his courses. He raised the bar over and over again by reaffirming the countless hours that one would need to commit to in order to achieve any possible hint of success in the world of stock trading. For any of you who are familiar with this industry, you will know that nearly 92% of all day traders fail. They either break-even, lose a lot of money, or worse-yet, lose ALL their money...and sometimes end up going into debt. The other 8% who actually make money and find success with day trading do so with an incredible amount of discipline which is carefully and methodically applied after many long hours of education and training. Do the "8-percent" lose money? Of course; but they learn from their mistakes and apply more strict parameters to their trading rules. This is how they mitigate risk and increase their profit-to-loss ratios; and this is ultimately what separates the 8-percent from the 92-percent.

This article isn't intended to be about stock trading. It's also not intended to be about Tim Sykes. But the underlying point is that without proper education and a willingness to learn, a person can get eaten alive in that sort of industry. The greater point however, is that if we are not willing to learn from our mistakes, we will ultimately pay an even bigger price. You see, most people believe that as long as they gain the proper knowledge and education pertaining to any subject, they will be successful in that specified area. However, once they get to that place where they are finally able to apply their knowledge and education, they find out that things aren't always so "cut-and-dry." Mistakes are inevitably made and it's in that very moment that a person finds out what they're really made of. Can they handle being wrong? Do they have the insight and ability to change or correct their error? Can they adapt? Having strengths and disciplines in these specific areas are critical for those who truly wish to be successful in any area of life. This can be applied to schooling, friendships, marriage, parenting...as well as any job or business venture out there. So when I read Tim Syke's quote "Learning isn't easy; but without it, failing is", I see much more than the "learning" process of building an education. I see the learning and growing process required in one's character, which goes far beyond what any mere "knowledge" can provide. I see the crucial key element of recovery needed for anytime someone's pride has taken a hit due to their own mistakes. If you read my last article titled "Never Give Up", you might remember me talking about the biggest difference between knowledge and wisdom. Wisdom is the application of knowledge. This is extremely important because without wisdom, knowledge is useless. Tim Sykes has undoubtedly had many students who went through his entire program, learned every key aspect of trading, watched every single video and read every single book...and still failed at day trading. Why? Because when they finally got into trading stocks in a live market, they lacked the proper discipline needed to survive when their trades went against them. They were not able to admit they were wrong. They lacked the ability to correct their error. They just could not adapt to a volatile market. It's one thing to sit in a class and hear Tim Sykes tell you how you need to be able to determine when to get out of a losing trade. It's an entirely different thing to apply that knowledge when you're in an actual losing trade. Most people allow their emotions to get involved...and from there, the downward spiral ensues as all previous knowledge and education fly out the window. Trust me, I know what I'm talking about. I've been there many times over. It truly is what separates the 8% from the 92%. And in any practical application of life, it is also what separates those who develop beautiful and healthy relationships, friendships, marriages and businesses...from those who don't.

In closing...

If you do what you've always done, you'll get what you've always gotten. I'm also reminded of what Proverbs 26:11-12 says "As a dog returns to its vomit, so a fool repeats his foolishness. There is more hope for fools than for people who think they are wise." We are never too old to learn. None of us have been on this planet long enough to have it all figured out. Even if you're 100 years old, you still have much to learn. Why do teenagers think they know everything? Probably the same reason why adults think THEY know everything. It's foolishness. Plain and simple. And it's the one thing that can keep a human being in a state of unrealized failure for the rest of their lives. Don't be that guy. Don't be that girl. Self-reflect. Listen to wisdom. Be open to advice. It's not easy...but it's the first step towards victory. Determine for yourself on this very day that you are going to begin not just striving for knowledge, but the actual wisdom to apply it. As a matter of fact, I'd like to go ahead and tweak this quote from Tim Sykes. While there is a phenomenal truth found in what he said, I believe it would be more fitting (perhaps in light of this article) to say that "Applying knowledge isn't easy; but without it, failing is."