The markets are vast. Like most investors, my biggest enemy is myself. Other investors aren't even a shadow of the threat I represent to myself. - Ralph Vince

That gut-punch, written back in 1992, is where we begin today's letter.

While many are busy chasing the secrets of the big players, figuring out how brokers make their money, or worrying about how algorithms are hunting them in the market, very few dedicate themselves to fighting their worst enemy.

Everyone who looks at the market without recognizing themselves as their own biggest enemy HAS ABSOLUTELY NO IDEA WHAT THEY'RE DOING HERE!

You need to be an expert in YOU!

Stop falling for narratives created by people who haven't placed a single trade!

There's no point diving headfirst into all the mathematical complexity and unpredictability of markets if you can't master yourself. This is exactly where geniuses fail! This is where a guy decides to become an analyst. This is where a future talker is born.

The enemy is right there, reading this letter alongside you. He's not on your trading screen.

João Homem