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Category: Articles » Finance » Article » Article Code

(UF) At Last .. A Trading Veteran Reveals The Truth About Technical Analysis of Stocks vs. Fundament

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Article Body:

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 themselves.
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 control.
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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