What are some principles/ideas/concepts that you learned from the book "The 4 Hour Workweek" that you were able to apply to your trading career?
I'm not sure exactly what the '4 hour workweek' is...but trading, to me, is a rather full-time job. I dedicate the normal business trading hours...to trading.-- I'm there, at my desk, on my laptop...monitoring the market I have to be in my zone....mentally, physically, spiritually....when I trade; I can't just whimsically look at a cellphone while I'm driving or shopping, or waiting in line somewhere.
Too true. People like him are great marketers. Same with the trading educators, the best are the best marketers, not the best traders as they would like you to think.
That's what people who have never read or applied books like "The 4 Hour Work Week" or "Essentialism" say. Sure, there's some hype, but the crux of the book is to apply 80/20 to everything in your life and cut out the wasted time/effort. Traders that look at charts 12+ hours a day (before, during and after the market) could certainly use some 80/20 in their life. This may include investing in very select software or education to save time and cut your learning curve. ("Oh no, I can't support the greedy vendors! I'd rather spend 150 hours searching every forum online and get everything for 'free' on the interwebz. I'm a pure DIY trader!"). But if you aren't willing to automate tasks and cut out the fluff, have at it.
There is some good stuff in his book. It's inspirational and makes you think more outside the box. 80/20 is interesting, but not an invention of his. Still, I think what I said is accurate. If you are to have a 4-Hour Work Week in some other endeavor than trading OR automate your trading system, there's the thousands of hours and efforts getting there first.
I read it a while ago, but I don't think that you can see some real parallels here, though if you're rich you can outsource your money management and give your money to a hedge fund.
There are plenty of swing traders that do very well while spending no more than 4 hours per week - of which most of the 4 hours of work are done when the market is closed. Less is more!