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Tackle Today: What B.B. King has taught me about trading

October 23, 2019

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Tackle Today: What B.B. King has taught me about trading (B.B. King performs live at the Concertgebouw in Amsterdam, 1972 by Gijsbert Hanekroot-Redferns)
B.B. King performs live at the Concertgebouw in Amsterdam, 1972 by Gijsbert Hanekroot-Redferns.

« I don’t do chords. »

The year was 1987. The Irish band U2 invited American blues master B.B. King to record the song “When Love Comes to Town” for their 1988 album “Rattle and Hum”. There is a curious story that goes along with this recording session.

The musicians were talking through the arrangement of this particular song when they turned themselves to King to continue the discussion. The blues guitarist gave them a straight answer:

— ‘Gentlemen, I don’t do chords.’

King never really mastered chords. Not only that, but he wasn’t quite an expert in playing his guitar and singing at the same time either. Still, no one in their right mind would say B.B. King was a nobody.

For those of you who don’t know what a chord is, the very basic explanation is that chords are a group of typically three notes sounded together, usually as part of a song’s harmony.

Yes, three notes. Only three. And B.B. King couldn’t do it. He played just notes. One note. Then another note. And then he made poetry out of every one of them.

This teaches us a valuable lesson in trading.

We’ve just released the Tackle Trading Playbook with 31 strategies in it—Long Stock & Short Stock + 29 options strategies. The lesson is that we don’t have to master them all. Just one. Pick one, master one. Get it right, and I mean perfectly right, just one strategy in one stock/ETF. From start to finish. Make that strategy profitable with all the winners and losers that come in the package.

Just one note. Then you try to play chords.

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Overcrowded train in India.

This is how your trading portfolio will look like if you trade all 31 strategies in the playbook.

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Today’s line up

Traders Lounge 11 PM EST

Join the coaches in this live lounge, ask questions, discuss ideas or just sit back and listen to veteran traders discuss market conditions.

The Coaches Show Replay

If you missed last night’s episode where Coaches Gino Poore and Greg Holmes talked about the Diagonal Iron Condor Spread from the new Tackle Trading Playbook or would like to watch it again, check it out here.

Bear Market Survival Guide MasterMind Group 7:00 PM EST

Owners of our premium system The Bear Market Survival Guide are invited to attend. System architect, Tyler Craig, will be showing how to apply the principles taught in the course. You will find the recordings to previous meetings below.

Halftime Report 12:30 PM EST

The Halftime Report starts at 12:30 EST and covers what news is driving the market, chart analysis from the movers and shakers of the day and fun in a way that only Matt and Tim can deliver.

Trading Justice Podcast

Trading Justice Episode 344: Tackle Trading Playbook

In this episode of the Trading Justice Podcast, Matt and Tim announce the launch of the Tackle Trading Playbook containing 31 essential options strategies. Building a playbook is a vital step in a trader’s journey. Whether you use Delta, Theta or Vega needs to be defined by the trader. Listen in as we discuss the new playbook launch, what components need to go into a strategy and how you can benefit from using it.

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2 Replies to “Tackle Today: What B.B. King has taught me about trading”

  1. Avatar ROBERTBREWER says:

    Christian … great article .. I revere BB .. one of the best … love the tie in .. options & blues … Thanks

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