Nothing we do in society prepares us to function effectively in
the commodity markets and an environment with no real
boundaries. But, most of us are brought up to function well in
society, so we`ve acquired strategies for fulfilling our needs
and desires that are geared toward social interaction and
acceptance. We don`t just take what we want, we take other
people into consideration, too. Not only have we learned to
depend on each other to fulfill our needs and desires, but in
the process we`ve acquired many socially based techniques for
assuring that other people behave in a manner that is consistent
with what we want.
The commodity markets may seem like a social endeavour because
there are so many people involved, but they`re not. While we may
have learned to depend on each other to fulfill basic needs, the
market environment is different: it`s every person for
Not only can you not depend on the market to do anything for
you, but it`s extremely difficult to manipulate or control
anything that the market does. If you`ve become effective in
your personal lives at fulfilling your needs and desires by
learning how to control your environment, but are existing as a
trader in an environment that does not know, care, or respond to
anything that is important to you, what do you do? You take
One of the principal reasons so many successful people have
failed at trading, is that part of their success, outside the
market, is due to their ability to control their social
environment. To some degree, everyone has developed techniques
to make their external environment meet their needs and desires.
The problem is that none of those techniques work with the
commodity markets. The commodity markets don`t respond to
control and manipulation, unless you`re a very large trader.
However, you can control the way you deal with market
information and your own behaviour. Instead of controlling your
surroundings so that they fit your idea of the way things should
be, you can learn to control yourself. Then you can view
information objectively, and choose to behave in a manner that
is in your own best interests. You do this by creating rules to
trade by, and following them.
Nearly everyone agrees that you need to have rules to be
successful in trading, but most traders have no intention of
following any. Most people who are interested in trading resist
the idea of creating a set of rules. The resistance may be
subtle, but it`s still there.
Often this is a response to how we acquired our first set of
societal rules. Our parents, relatives, teachers, or friends
gave most of the guidelines we live by to us when we were
children. These guidelines were taught to us, we did not create
them, an important distinction. During this time, many of our
natural impulses to move, express, and learn about the nature of
our existence through our own direct experiences, were stifled.
Some of these impulses were never reconciled, and can still
exist inside of us as frustration, or disappointment. The
accumulation of these types of feelings can cause a person to
resist anything that keeps them from doing whatever they want,
whenever they want to.
The very reason most people are attracted to trading, the
unlimited freedom of choice and decision making inherent in
trading, is the same reason they feel a natural resistance to
rules and boundaries. The need for rules may make perfect sense,
but it`s difficult to generate any enthusiasm for these rules
when you`ve been trying to break free of them most of your life.
It usually takes a great deal of effort to break down a traders
resistance to establishing and abiding by a trading regime that
is organized, consistent, and reflects prudent money management
guidelines. But, once they do, the possibilities for attaining
consistent trading success are limitless.
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