I am presently working on the instrument rating as an add-on to my private pilot’s license. While I have been a licensed private pilot for about fifteen years, I had been procrastinating for years about getting the instrument rating. In fact, I have done other things in flying (aerobatics and endorsements for tail wheel and high performance airplanes) rather than get my instrument rating for one simple reason - it’s a lot of hard work.

I am surprised how much more precision is required to fly on instruments. Flying in clear weather under Visual Flight Rules (VFR) is pretty simple compared to flying Instrument Flight Rules (IFR). Flying VFR, you just point the plane in the right general direction and go. Okay, it’s a little more complicated than that, but not much. On the other hand, flying on instruments requires ten times the amount of concentration, precision and discipline. Moreover, it requires that you absolutely trust the instruments and deny your internal sensations, which may be intense but invariably false. (After flying in the clouds for a few minutes, your inner ear can’t tell which way is up.)

It finally struck me that this distinction between VFR and IFR flying was similar to the situation faced by stock traders. It is relatively easy to become a trader but extremely difficult to become a good trader. Like IFR flying, good trading takes (perhaps) ten times the amount of effort, concentration, and discipline than just flying off in beautiful clear weather for the proverbial $100 hamburger.

Most persons interested in stock trading are drawn by the sense of adventure and freedom that it offers, but like my original attitude towards instrument flying, are not necessarily looking forward to the hard work involved. Like so many things in life, you don’t know what you don’t know. I never understood how little I knew about flying until I started working on the instrument ticket. And like flying, trading is an endeavour that is best not self-taught.

Make the effort - get the education you need to increase your trading knowledge and skill. Sure it will require a great deal of work on your part, but in the end, you’ll be surprised how much easier trading seems, as you become a professional-level trader with greater knowledge, concentration and success.

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