"If you know your enemy and you know yourself,
then you need not fear the result of a hundred battles."
~ Sun Tzu
Can you write 10,000 words essay on the following single topic?:
- 10,000 words essay on 'Entry'
- 10,000 words essay on 'Exit'
- 10,000 words essay on 'Money Management'
- 10,000 words essay on 'Human psychology/Behavior/Discipline'
- 10,000 words essay on 'Moving averages/MACD/Indicator'
- 10,000 words essay on 'Risk & Trade Management'
- 10,000 words essay on 'Technical Analysis' that hasn't been published
- 10,000 words essay on your 'Trading Plan'
It is simply because, if you know how moving averages work, then writing 10,000 words on the subject would be very easy. If you don't know, well you can only write as much.
Most people don't yet understand that trading is a competition. It is a competition between you and the other traders. And in any form of competition, winning requires a greater advantage, a greater edge over the opposition... A greater advantage in size, strength, technology, discipline, intellectual, etc... Whatever form of advantage/edge you can get will aid your victory over your opponents.
If you can't write all of the above points, then you don't know the enemy and you don't know yourself. You don't have to physically write it, but do you possess a vast knowledge of information about each topic? You may think you know, but I am just quantifying what you know. And if you can't write 10,000 words on the subject, then you simply don't know much.