Trading Lessons from an old mining town | Stock Trading Tips

So I’m in the Arizona Desert getting a tour of the Castle Dome Mine, mining town and mining museum and ghost town. You can see here’s some of the old mine carts that we used to take the ore and there’s the stage coach building that’s been recreated. Absolutely amazing. Fantastic. In the middle of nowhere. An entire town popped up because they found minerals in the earth, silver, lead and in really high concentrations. And this mine was in operation from the late 1800s to early 1900s. Actually, I think they last closed down in 1970 when mining silver and lead still here. So maybe not with this infrastructure. This is all recreation to show what it was like to set up as a museum, but it’s no longer economical to mine here because the price of silver is too low.

I don’t know about you, but I walk around things like these or mines and I’m end up thinking, “Boy, there’s easier ways to make money than that.” Here’s my son in the background checking out the mining equipment. And I’m just so grateful that we have a modern stock market that we can trade in to make money because half an hour of work a day, following a trading system, certainly beats crushing rock and digging in the ground like these guys were doing 5,000 years ago.

We’re going down the mine. So we’re getting a mine tour now and this was a silver mine we’re walking through. And what’s amazing is there’s so much rock and rubble that they would’ve had to sift through by hand to follow the seam of silver to dig out the metal and the minerals to pay for the operation and to make the profit. So it always astounds me how much rubble you got to sift through. And it’s exactly the same in the markets. You’ve got trading systems and you’re sifting through the entire market, all of the rubble to try and find the small number of opportunities. And it’s just like in mining. When you try and get forced too many opportunities out of the rubble, you end up just making losses and having garbage. But… Sorry, the light’s a bit low.

But when you learn a trading system that identifies the trades that you should be taking and you take only those ones, then there’s gold. Or in this case, silver in the walls, in the market. And so that’s what you’re looking for. You’re looking for the small number of opportunities and the systems or the process, the rules to sift through all of the rubbish to find the nuggets, the minerals, the gold in the markets, the silver in the markets. That’s what you’re looking for.