In trading, it is almost a recipe for disaster to trade on rumors or follow other traders’ ideas. I am certain that in more than 99% of the cases, it pays to learn how to fish than to pay for the fish.

Great traders are contrarian in their own ways. They certainly don’t think like everyone else. Great traders certainly don’t read the books that everyone else reads and they most certainly don’t visit the same blogs.

Great traders are great, not just because they read a lot, but mainly because they ask more questions more often look for the right answers.

Contrary thinking is just a way of thinking, but I believe that we should not put too much weight on it. It is just another way of looking at things and not a crystal ball. The only way to become good at trading is to become good at questioning. As the man from the street would say, “If you don’t think things through, you are through thinking.”