What a Stock Trader can learn from the Movie War Dogs
The most viral film in 2016
The 2016 film "War Dogs" tells the true story of two young entrepreneurs who become arms dealers for the U.S. military. While the movie might seem like an unlikely source of inspiration for stock traders, there are actually a few lessons that can be learned from the film.
Lesson 1: Do your research
One of the key takeaways from "War Dogs" is the importance of doing your research. The main characters, played by Jonah Hill and Miles Teller, are able to make a fortune by finding a loophole in the system and supplying the U.S. military with arms. However, they are only able to do this by conducting extensive research and identifying an untapped market. Similarly, stock traders need to be constantly researching the market and identifying opportunities that others might be missing.
Lesson 2: Be willing to take risks
Another lesson from the movie is the importance of taking risks. The main characters in "War Dogs" are willing to take on risky contracts in order to make a profit, even when others are hesitant to do so. While taking risks can be scary, it can also lead to big rewards. Of course, it's important to always assess the risks and weigh them against potential rewards before making any decisions.
Lesson 3: Trust is important
In "War Dogs," the main characters are able to build a successful business by earning the trust of their clients. Similarly, trust is a crucial element in the world of stock trading. Building relationships with other traders and analysts, as well as earning the trust of your clients or investors, can help you succeed in the long run.
Lesson 4: Stay organized
One of the challenges the characters face in "War Dogs" is keeping track of their contracts and inventory. As their business grows, they struggle to stay organized and keep up with demand. This is a reminder that organization is crucial in any business, including stock trading. Keeping track of your trades, maintaining a trading journal, and staying on top of market trends can help you make informed decisions and stay ahead of the game.
In conclusion, while "War Dogs" might not seem like an obvious choice for stock traders to draw inspiration from, there are actually a few lessons that can be learned from the film. By conducting research, taking risks, building trust, and staying organized, stock traders can improve their chances of success in the market.
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