Why Ed Ponsi's strategies in his book Forex Patterns and Probabilities are so simple but yet he is able to make money trading forex?
Why Linda Raschke mentioned in her book Street Smarts that we only need to be good in 1 strategy to be profitable?
Again, Curtis Faith brought up the same idea of simplicity in trading in his book Way of the Turtle:
...The funny thing is that most of the principles that Richard Dennis taught us were not new. Some were basic principles that had been espoused by other famous traders since before Richard was born. Yet the very simplicity of the principles we were taught in some respects was a hindrance for those of us who tried to follow them in those initial months. People have a tendency to believe that complicated ideas are better than simple ones. Many find it hard to comprehend that Richard Dennis could have made several hundred million dollars by using a handful of simple rules...Why Fibonacci levels work like miracle for Joe DeNapoli but not for everyone?
Why not everyone makes money trading complex concepts like Gann or Elliot waves?
Why so many traders say K.I.S.S? Keep it simple and sweet?
There is a lot to learn from Jesse Livermore's attitude and approach to the market. I really take my hat off him for recording the prices with pen and paper. And the rules are not trivial at all. I believe many of us started with studying the strategies to approach the market but how many of us started with studying the market itself? I also realized that it is not wrong to begin with a strategy. However, the focus should always be on the market. Beginning with strategy helps us to zoom in and to filter out the noise such that we can concentrate on a part of the market and develop our research of the market from there. Can you imagine Jesse Livermore merely traded with the quotes from the ticker tape? No charts at all. He treated the stock prices like a giant puzzle, like how we play Sudoku or any other games. And that should be the right attitude - To crack the market puzzle, a piece at a time, using a strategy that we personally believe in.
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