I’m sure you’ve heard the phrase, “Knowledge is power,” but I’m not a fan of it. I think the more fitting phrase is “Knowledge is potential; understanding is power.”Justin Driskell —
Hey, Tackle Team. Today, I want to talk about a concept that has improved my understanding of trading strategies and my trading plan as a whole.
Your whole life, you hear the phrase “practice what you preach,” but I want to talk about preaching what you practice.
In the non-religious sense, “preach” is defined as earnestly advocating a belief or action. You get preached to every time you listen to a Cashflow Club, Coaches Show, Halftime Report, or read the Tackle Today or any of the blogs put out by Tackle’s writers. My point is that these coaches have practiced the topics of these shows in order to present the ideas to the members of Tackle Trading. I’ve put out these blogs over the last few months presenting ideas that I’ve worked on.
Before I started writing the blogs, I obviously had knowledge of the concepts in which I was going to write about, but something about actually putting the words down on paper (or should I say my computer) made the concepts click with me even more. This is why when you were in school, the teachers/professors made you write papers about the topics discussed in class or why your mentor had you make a written business model. It may have felt like a chore and seemed pointless at the time but looking back, now I understand the reason for this: There is a difference between knowledge and understanding.
You can take a trading course, or read a blog, or take a mentorship and it will provide you with a vast amount of knowledge. This does not mean you understand that knowledge. When I was a beginner in my first year, I found myself extremely frustrated because I dove headfirst into this pool of knowledge that was Legacy Education and Tackle Trading. I learned a lot of concepts and strategies and felt deep down that I understood them but still found it very difficult to find profit.
I stumbled across a video that helped me realize my problem. In this video, a man engineered a bicycle that steers backward. When you turn the handlebar left, the front wheel turned right and vice versa. You can explain to someone the concept of the bike and they would have the knowledge of how it works but when they go to implement that knowledge, they found that no matter how many times they tried, they could not stay on the bike without falling. Why is it that someone riding this bike, fully aware and knowledgeable of how it functions, still can’t seem to operate it correctly? This proves that knowledge is not understanding.
What I found with writing these blogs is that by sharing my knowledge with you guys, it has greatly increased my understanding of that knowledge because not only do I have to present the knowledge I’ve acquired, I have to make it understandable and by making it understandable to you, it has helped with my own understanding of it.
So my call to action for you, readers, is to take a trading topic that you are deeply interested in, whether it be day trading, portfolio design, or cashflow strategies, and write down (or type up) an article as if you were trying to teach someone that topic. You may find that as you do this there are blanks in your understanding that need to be filled in at which point a coach or mentor can assist with. When you watch a Coaches Show or Cashflow Club or take a trading class, take actual written notes. If you are like me, you may not like taking notes. I personally like to sit back and listen and take it all in, then write about what I’ve learned very soon after the fact while it’s fresh. Whatever your learning style is, I can advise one way or another to write your knowledge down. Maybe you don’t want to write an article. That’s fine. Write it out in bullet point format, make a PowerPoint presentation, use flashcards. Whichever way you find your brain retains and understands the information the best is completely up to you. Prove to yourself that you understand what you learned.
I’m sure you’ve heard the phrase, “Knowledge is power,” but I’m not a fan of it. I think the more fitting phrase is “Knowledge is potential; understanding is power.”
It’s been an absolute pleasure to write for Team Tackle and I look forward to helping not only you but myself in future articles.
Happy Trading, friends.
Justin started his trading journey during a 3-day workshop with Tim Justice in April of 2018. He has always been interested in the financial markets and the opportunity it potentially provides. He likes trading stocks and options. Outside the markets, he’s a husband, father of two boys, and full-time automotive technician.
Financial freedom is a journey
Sign up now and gain unfettered access to all of the quality content and powerful Scouting Reports that our Pro Members enjoy for 15-days absolutely free with no strings attached and let us show you what your trading has been missing.
Tackle Trading LLC (“Tackle Trading”) is providing this website and any related materials, including newsletters, blog posts, videos, social media postings and any other communications (collectively, the “Materials”) on an “as-is” basis. This means that although Tackle Trading strives to make the information accurate, thorough and current, neither Tackle Trading nor the author(s) of the Materials or the moderators guarantee or warrant the Materials or accept liability for any damage, loss or expense arising from the use of the Materials, whether based in tort, contract, or otherwise. Tackle Trading is providing the Materials for educational purposes only. We are not providing legal, accounting, or financial advisory services, and this is not a solicitation or recommendation to buy or sell any stocks, options, or other financial instruments or investments. Examples that address specific assets, stocks, options or other financial instrument transactions are for illustrative purposes only and are not intended to represent specific trades or transactions that we have conducted. In fact, for the purpose of illustration, we may use examples that are different from or contrary to transactions we have conducted or positions we hold. Furthermore, this website and any information or training herein are not intended as a solicitation for any future relationship, business or otherwise, between the users and the moderators. No express or implied warranties are being made with respect to these services and products. By using the Materials, each user agrees to indemnify and hold Tackle Trading harmless from all losses, expenses and costs, including reasonable attorneys’ fees, arising out of or resulting from user’s use of the Materials. In no event shall Tackle Trading or the author(s) or moderators be liable for any direct, special, consequential or incidental damages arising out of or related to the Materials. If this limitation on damages is not enforceable in some states, the total amount of Tackle Trading’s liability to the user or others shall not exceed the amount paid by the user for such Materials.
All investing and trading in the securities market involves a high degree of risk. Any decisions to place trades in the financial markets, including trading in stocks, options or other financial instruments, is a personal decision that should only be made after conducting thorough independent research, including a personal risk and financial assessment, and prior consultation with the user’s investment, legal, tax and accounting advisers, to determine whether such trading or investment is appropriate for that user.