This Art of War quote sums up trading perfectly. As a trader, the more you know; in all aspects, the far better you will be. Sure, anyone can get lucky and have some success in the markets without deep knowledge of what they’re actually doing. Even a broken watch is right twice a day.
In competition, the more you know about your opponent, the more of an edge you’ll have in defeating them. Make no mistake about it, this business is highly competitive. In actuality, you’re competing with 3 opponents:
- Market Makers
- Other Investors/Traders
- Yourself (Mental Opponent, perhaps the toughest opponent of them all.
