Tackle Today: What B.B. King has taught me about trading | Tackle Trading
“I don’t do chords.”
The year was 1987. The Irish band U2 invited American blues master B.B. King to record the song “When Love Comes to Town” for their 1988 album “Rattle and Hum”. There is a curious story that goes along with this recording session.
The musicians were talking through the arrangement of this particular song when they turned themselves to King to continue the discussion. The blues guitarist gave them a straight answer:
— ‘Gentlemen, I don’t do chords.’
King never really mastered chords. Not only that, but he wasn’t quite an expert in playing his guitar and singing at the same time either. Still, no one in their right mind would say B.B. King was a nobody.
For those of you who don’t know what a chord is, the very basic explanation is that chords are a group of typically three notes sounded together, usually as part of a song’s harmony.
Yes, three notes. Only three. And B.B. King couldn’t do it. He played just notes. One note. Then another note. And then he made poetry out of every one of them.
This teaches us a valuable lesson in trading.
We’ve just released the Tackle Trading Playbook with 31 strategies in it-Long Stock & Short Stock + 29 options strategies. The lesson is that we don’t have to master them all. Just one. Pick one, master one. Get it right, and I mean perfectly right, just one strategy in one stock/ETF. From start to finish. Make that strategy profitable with all the winners and losers that come in the package.
Just one note. Then you try to play chords.
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Trading Justice Episode 344: Tackle Trading Playbook
In this episode of the Trading Justice Podcast, Matt and Tim announce the launch of the Tackle Trading Playbook containing 31 essential options strategies. Building a playbook is a vital step in a trader’s journey. Whether you use Delta, Theta or Vega needs to be defined by the trader. Listen in as we discuss the new playbook launch, what components need to go into a strategy and how you can benefit from using it.
Financial freedom is a journey
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Originally published at https://tackletrading.com on October 23, 2019.
