This past Friday in our Level 3 Market Study session we took a deep look at the $AUDUSD. During this session we discussed supply/demand and the CFTC data in great detail. Within the discussion we focused a lot of our time on the Philosophy of Trading. Trading and our lives are the same.
Everything has it’s similarities and that is what makes life so interesting. What you learn about one subject can somehow someway be related to another. Studying the health of a human will relate to studying plants and their health for instance. So when we try to discover the truths on the charts we use the same methods we would use to discover the truths on the world we live in.
This has always been a fascination we me. Studying things to discover their truths. As I have mentioned before, I grew up with a love of Magic. I watched magicians on tv and was always fascinated with how they could perform such miracles. Well I started to realize those miracles where not really impossibilities but well-crafted and orchestrated pieces of performance art that gave off the impression of magical displays.
Looking at a chart gives me the same feeling I had looking at magic. I was told you couldn’t understand a price chart because it was random and I immediately took to the challenge. Along the way I discovered methods that I could use to extract truth from the charts. Because just like in watching a magician, the truth is always there in front of your eyes, you just need to train your mind to be able to see it and the more you discover the secrets the more secrets will be unlocked.
I try to interpret what I am seeing just as Philosopher try to interpret what they are observing. We don’t have all the answers but we know the right questions to ask and we know how to work through a problem to get as close to the answer as possible. It is a life time’s work but it is a very fulfilling endeavour.
I look forward to seeing each and every one of you in Level 3 so you can take part in these discussions with us! Have a great week!