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Was just mulling over a question someone asked me- how much skill can it take to look up a 1SD range on the Nifty, sell a Strangle just beyond it and expect to make Money? And does that constitute 'knowledge' which TA Traders seem to have in abundance
The answer- the same amount of Skill that it takes to draw a few lines on a chart and take an essentially 50-50 bet that Price will move in a particular direction. Or to buy 1 tick above the high of a particular pattern with a SL 1 tick below it's low
Takes only a few minutes to understand a Trading System but a lifetime to build conviction to Trade it. Building knowledge base to get conviction in system- that's where the skill is. As Frank Perdue- founder of Tyson Foods said- 'it takes a tough man to produce a Tender Chicken'
Mechanics of entry and exit in any System are laughably simple but without conviction the most difficult to apply with degree of consistency needed. After that, the other Good Practices such as Money Management, Position Sizing etc are the same no matter which approach you adopt
