Many years ago, in ancient China, a master strategist taught, "Know
yourself, know your enemy, know your battlefield; a thousand battles, a
thousand victories." And, even if it may be impossible in forex to have
"a thousan trades, a thousand profits," it still makes a helluva lot of
difference should you heed the first part of his advice.
Why do we need to know ourselves? Don't we already know who we are? Sure, in term of external aspects such as your name, your age, your home address, your financial status, etc. But, when it comes to our internal aspects, most of us are way of course. And there's a single fact, an undeniable one, to proof it.
It's a common knowledge that there are hundreds if not thousands of strategies to gain money in forex trading. Yet there are no two persons, using the exact same strategy, have to same results. They both using the same tools, the same time frame, trade the same amount of lot and money, in essence, one mirrored the other. Yet they got a different result, which is point to one thing and one thing only: That the difference come from the fact that they are different persons. Because they have different knowledge about themselves.
How can this be?
To understand it, you simply have to look around you, especially at how parents treat their own children. How many times do you a parent called their obese children "cute"? How many times do you a parent tries to explained away, when their children crossing the line, as simply "having too much curiosity" -- for example, when they visit a neighbour house and, without asking permission, the child climb up the couch and take down a glass horse from the rack?
I'm not saying that every parents make mistake in educating their children. I'm not here to talk about child rearing or education at all. But understand that most of what our parents said about us is not our true nature. It brought misconception about ourselves. And today, we bring those misconceptions to our trades. And it is those misconceptions which cos us a lot of mistakes in trading. Starting with choosing the wrong analysis or strategy.
So, knowing yourself will do a lot of good for your career in forex trading. Knowing how you make a decision will help you choose the right tools to make the decision you need in your trade. Knowing how you fare in time of stress helps you determined which factors you need to ponder to achieve flash decision.
Why do we need to know ourselves? Don't we already know who we are? Sure, in term of external aspects such as your name, your age, your home address, your financial status, etc. But, when it comes to our internal aspects, most of us are way of course. And there's a single fact, an undeniable one, to proof it.
It's a common knowledge that there are hundreds if not thousands of strategies to gain money in forex trading. Yet there are no two persons, using the exact same strategy, have to same results. They both using the same tools, the same time frame, trade the same amount of lot and money, in essence, one mirrored the other. Yet they got a different result, which is point to one thing and one thing only: That the difference come from the fact that they are different persons. Because they have different knowledge about themselves.
How can this be?
To understand it, you simply have to look around you, especially at how parents treat their own children. How many times do you a parent called their obese children "cute"? How many times do you a parent tries to explained away, when their children crossing the line, as simply "having too much curiosity" -- for example, when they visit a neighbour house and, without asking permission, the child climb up the couch and take down a glass horse from the rack?
I'm not saying that every parents make mistake in educating their children. I'm not here to talk about child rearing or education at all. But understand that most of what our parents said about us is not our true nature. It brought misconception about ourselves. And today, we bring those misconceptions to our trades. And it is those misconceptions which cos us a lot of mistakes in trading. Starting with choosing the wrong analysis or strategy.
So, knowing yourself will do a lot of good for your career in forex trading. Knowing how you make a decision will help you choose the right tools to make the decision you need in your trade. Knowing how you fare in time of stress helps you determined which factors you need to ponder to achieve flash decision.
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