Your statement is a counter-intuitive misconception. Your intuition is telling you that you need to develop one strategy you can rely on, a strategy that can handle anything the market throws at it. But you believe what you read in a book and online over your instincts.
These popular misconceptions are traps for people with poor work ethic. We’re used to answers being so readily available that having to diligently grind through every single question doesn’t seem necessary. If you’re thinking you shouldn’t have to reinvent the wheel, you’re being naive. The market favors traders that read charts, not books.
You must follow up the resourcefulness with thorough backtesting. If something is not 100% clear to you, don’t stop until it is. None of that cloudy understanding, full of gaps. You must not fear failure and face those mysteries head on. A man knows how to admit when he doesn’t fully understand something. There are things you’ve mastered and things you haven’t. You know the difference right? Suddenly you forgot how to tell the difference or think that somehow that doesn’t apply to trading because its so complex. Trust me, clarity is possible. So if something is still unclear to you its not because there is no understanding it. Its because you have an incomplete perspective.
You must be humble, open minded, and relentless during the R&D phase of your career. Until something is undeniable, you don’t commit to it. A lot of times I would work all day on one thing and finally figure it out in the 20th hour. Because until that point I knew I didn’t have the full clear understanding. Sometimes I would work three 120hr weeks mastering a single concept. I learned early on not to let a single idea come and go. Every single one was captured and tested against historical price data. Every single idea someone else came up with was captured and tested just as thoroughly. Every single one.
The research and development phase is the toughest part of the journey. Once you have a strategy you fully trust, the next step is to become mission oriented. A man on a mission cannot be influenced, by childish arrogance, to go off script. The rules of my strategy were configured by me at my best. Ultimately I am trusting myself by not breaking the rules. If you break the rules it means there are still unanswered questions. Accept that and get back to work. Confidence is a privilege granted to those that have dedicated years to developing a trustworthy method.
Most people fear investing the time. I had this fear for the first 6 months of my career, then I decided to dedicate my life to this game. I became obsessed with the challenge and willing to sacrifice myself to succeed. Suddenly I had all the time in the world at my disposal and spending it on other things became the risky move. If you aint ready for that type of commitment, you don’t stand a chance against me. Make no mistake, its a zero sum game. No one will ever spill the secrets in those books you’re reading. The real answers come from within, as a result chart analysis, brainstorming, testing and collaborating with peers with the same passion and objectives.
We don’t count on luck.