Artificial Intelligence Developments Raise Ethical Concerns in Tech Community
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I fully understand that fundamentals are crucial and possess an advantage that technical analysis does not. For instance, fundamentals can broadly determine the scope of a market trend, whereas technical analysis often cannot. Fundamentals focus on certainty, foresight, and proactivity; technical analysis, on the other hand, is more reactive, following the market with a degree of passivity. However, as the Buddha said: "See through, let go, be free." The reason I let go of fundamentals is not because they are unimportant, but because they are too complex for me. I haven't been able to build a stable model around them. In contrast, I’ve found that using technical analysis, I can achieve consistent profits without the need to cling to fundamentals. Letting go of fundamentals has brought me greater freedom in my trading. For me, letting go equals freedom, and isn't that the ultimate purpose of investing? Therefore, for me, letting go was the right choice. What works for me may not work for others. Everyone finds things they understand easy, and things they don't, difficult. I found fundamentals difficult, so I let them go. If you find fundamentals simple, there’s no need to let go. Everyone has a different knowledge structure, and their choices will naturally differ as well. Take the farmer and futures philosopher, Fu Haitang, for example. He’s a classic case of achieving financial freedom through fundamentals, and I’m a big fan of his. However, Fu's success is hard for others to replicate. His success is closely tied to his personal experiences. Coming from a farming background, he was extremely familiar with the fundamentals of agricultural products. Fu used to be a typical farmer, planting wheat, garlic, and cotton, and raising pigs. His real success began in 2009 when he entered the market with 50,000 yuan and earned 6 million yuan by trading garlic. He then achieved legendary wealth through cotton trading, becoming a well-known figure in the futures market. By 2009, he was 42 years old and had already spent 10 years in the futures market. His success was largely due to his deep understanding of the fundamentals of garlic and cotton, which he gained from personally driving around and conducting on-site research throughout China’s garlic and cotton-producing regions. In addition, by then he had accumulated a decade of experience in the futures market. In fact, his most profitable trades were all in agricultural products, such as cotton in 2016 and apples in 2018. Now, let me ask you: Have you ever planted garlic, cotton, or wheat? Have you personally conducted on-site research? In fundamental analysis, field research is crucial. With so much data circulating in the market, if you don’t conduct your own research, you can never be sure of the accuracy of the data. If you use inaccurate or distorted data to assess the market, the results are predictable. There are many different commodities in the futures market. Among those who make money in futures, there are two types of people: those who rely on luck and those who rely on knowledge. Those who make money through luck eventually give it back to the market, often with interest, once their luck runs out. Those who make money through knowledge also fall into two categories. One type has deep expertise in the fundamentals of specific commodities and only trades those they understand thoroughly, making significant profits from them. The other type trades across a variety of commodities, using technical analysis to gain smaller profits, which, when combined across different trades, can add up to considerable earnings. I fall into the latter category. Different people make different choices. There is no right or wrong choice. What matters is what works best for you. Don’t force yourself to do what you're not good at. Just use your strengths, your knowledge, and your advantages to trade well, and you will find contentment.