Once, there were two farmers who lived in the desert. Both desperately needed to acquire water so they could survive the desert and support their families. After working together to search the area, they concluded there was water somewhere in the area but they were not sure where. So, they set out to find a water well. They started digging in similar locations between their properties. After they both dug for several days, the second farmer finally struck water. As soon as this happened, the first farmer could see it from a distance and ran over to the second farmer. Seeing that he had stuck a huge water well, he asked the farmer, “You and I had the same tools for digging and have been digging in similar locations. How did you find water and I did not?”
The second farmer asked him, “How did you dig for water?”
The first farmer responded, “I went and dug 50 holes 1 foot deep trying to get maximum coverage of my area. What did you end up doing?”
The second farmer replies, “Oh! That is very interesting. I dug one hole, 50 feet deep.”
Many traders set out on the path of trading and do exactly what the first farmer did – they dig 50 holes 1 foot deep. If you are going to strike water, gold or oil, you will have to dig one hole, 50 feet deep. The reason for this is a matter of mastery. To be a master at anything, you have to become so familiar with it, know how it works inside and out to the point you understand every aspect of what you are doing.
Think of Michael Jordan. He was one of the greatest basketball players ever. Regardless of his athletic ability, when he started playing baseball, he struggled immensely and that was after having playing experience all through high school. Today, he plays golf and is considered to be just below the level of a professional player. He has amazing talent at almost any athletic endeavor he sets out to do, but regardless, he was only able to master basketball. He practiced the game so intensely that everyone around him had to work harder just to keep up. He would come early and stay after practice. Why? Because he knew that to be a true master of the game of basketball, he had to dig one hole, 50 feet deep and not 50 holes, 1 foot deep.
If you are not digging your hole 50 feet deep, but are relying upon several methods, systems and tactics that are likely disconnected, you will never master trading. Do you really think institutional traders trade
5 or 10 systems all at once? Do you really think a sniper becomes an expert marksman by learning how to use 50 weapons or mastering just a few? All experts in any field subconsciously know that to be a master at anything, you have to dig your 50 foot hole.
