OK… I’D JUST ARRIVED. Fiji in the Winter. 29 degrees outside.
Palm trees swaying… check.
Ocean view… check.
Bottle of water from the mini-bar to quench my thirst… check.
Oh my goodness! $7.50 for that thimble-full of water. That’s ludicrous.
So – I go an ask at reception “Where are the closest shops?”
“Just around the corner” I’m told.
So I walk… and walk… and walk. Glad I bought the other 2 bottles of water with me. I guzzle them down. It’s hot in the tropical sun.
45 minutes later, I arrive, and buy 6 bottles of water, but by now, my feet are sore, blistered and in need of a new pair of shoes. Oh heck… I buy a new pair of shoes for $40.00 and walk back to the hotel.
On the way, I drink 3 bottles of water.
Oh damn! I only have 3 cheap bottles left! Plus, I’ve paid for shoes so I can walk.
Sure – the water was cheaper, but it really was a false economy.
Lesson learned: “Money invested upfront is often cheaper than the consequences of avoiding investment”.
So many traders try to rely on free websites for their charts, instead of biting the bullet and buying a charting package. They think they’ll learn with their own money instead of investing in their own education. They think they can make their own mistakes, instead of paying a Mentor to help them avoid the land mines.
False economy, my friends.
The market will extract a greater fee than the cost of investing in your own education.
Make the investment now so you can reap the rewards later.