Today has been a fun day for me as I accompanied my dad (who recently retired from his day job) to a property auction. I used the word fun because this was an interesting experience for me due to the fact that I used to be a mobile trader and, now, a market trader. Buying and selling properties is a form of trading as well because, as I just mentioned, it involves buying and selling. Beyond that, the trip to the auction house brought me back to ground level and reminded me a lot of the skills required to be a successful trader. Unlike being in the financial market, bidding for properties in an auction is an Art. This is an art because, while the property market is usually slow moving (you can place a purchase offer and the seller can decide to accept or reject at his own time), the auction house is one place where acquiring a property requires more than just submitting an offer. While I can go on about how fun the auction was, I thought it’ll be a more useful if I could convert some of the insights I had today into useful trading lessons.
