Pursuit of Excellence in Trading

Hello Traders,

Today, I was thinking and doing some sim trading.  I don’t normally take any live trades past the 28th of any given month.  It is a time of reflection.

Recently, I watched a video called Holy Rollers.  It was about a group of blackjack players who were also Christians.  I found this to be an oxymoron, but I also believe you can place traders and poker players in the same boat …

So what makes for a successful “advantage blackjack” player.  It is not enough to know Basic Strategy.  To go into a game of blackjack without at least knowing this tool is simply making the game not a game of skill, but giving the edge even more to the casino.

So then we come to the ‘legal’ card counters in blackjack who also combine basic strategy and deviations to basic strategy.  There are several different ways to card count, much as like there are all kinds of successful ways to trade.

BUT here is the kicker … even armed with this knowledge by itself will not guarantee success.

What is the key to a successful ‘advantage blackjack’ player?  One that employs all the tools of his/her trade … how about risk and money management?

When the deck is stacked against you … you bet light … when the deck is stacked in your favor you bet heavy.  Could this be the same as the bread and butter setups we as traders lick our chops at … because we know the odds of that trade being successful?

Obviously, even with all this … you still have to know when to walk away from the table or in our case as traders … when to stop trading!

I believe why the game of trading or in this case the game of blackjack is so hard is because it is so easy to play!  We see an easy way to make money, but in the pursuit of this easy money … we find it becoming the hardest thing to make an easy buck!

I ran into this quote I want to share with you:  “Success equals hard work, concentration, training, and DISCIPLINE!” – Anon

 

Be Safe and God Bless,

David ‘Tiger’ Knight

About The Author

David M. Knight

I am a 30 Year Futures and Commodities Trading Veteran. In addition, I enjoy games of skill and chance like: poker, craps, blackjack and roulette. During my professional career, I have developed and implemented successful trading strategies and methods; along with winning systems in games of skill and chance. Join with me on our mutual journey together.