Education

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certain elements of trading that you may never know nor understand,

like knowing for sure what a market is going to do in the future.

Market analysis and trading is not a business of bold predictions

but one of exploring market probabilities based upon market

knowledge, price history, human behavior and trading experience.

Knowing that you don’t know exactly what a market will do actually

gives you a trading edge because it means you probably will exercise

more caution and think about and plan for what could happen if a

trade turns against you. Successful traders know that some trades

will turn against them and that they need to take steps to preserve

capital to trade another day.

Anyone who plans to trade for a while absolutely must respect the

markets. Most people do not like to be “wrong,” but only the market

is 100 percent right. Traders who think they “know” exactly what a

market will do are not showing the markets respect.