Methods and Markets
Trader Scott’s Market Blog
October 5, 2016
The greatest Commandment is:
Thou shalt not lose money.
For this is what the whole law of trading means:
If you were to write a “Ten Commandments” of trading it would be summed up by this prime directive: “Thou shalt not lose money!” For one to be effective in realizing profits in the markets, one must recognize that there are forces ready to mete out justice on the transgressor – from the naive and inexperienced and also from the proud and the greedy who thought their profits were theirs. By one’s ignorance, hubris, or haste, or by an unbridled desire to assume what was theirs will remain theirs – this will lead to inevitable failure in markets. The market always has different intentions than those of the transgressor and what used to be theirs will be taken from them and given to another.
Recognizing that once we take a position in a trade, it is the market which will judge us accordingly, for its’ judgement is impartial. It is going to tell you if you are right, or if you are wrong. Take care; for in the end, you must not blame the market for any loss, nor praise it for any gain, the blame and praise are on you. This means taking full responsibility for having one’s own capital at stake, and this is a sobering motivator that if taken to heart can serve one well: inspiring due diligence, proper timing, self-control, courage when justified and humility when necessary. As you enter this arena, no one else will fight for you as hard as you will, and no one else can be responsible for what is in your own stewardship… you and you alone must reap what you sow, so sow effectively and sow wisely, doing it with the confidence that you will reap accordingly. Though at times the crop may fail, and at times it may feel like you are sowing with tears. So by obeying the natural laws which can be summed up by the Ten Commandments of trading and can be further summed up in this discussion of the greatest single Commandment – “Thou shall not lose money”, you will reap with a joyful shout.
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Trader Scott has been involved with markets for over twenty years. Initially he was an individual floor trader and member of the Midwest Stock Exchange, which then led to a much better opportunity at the Chicago Board Options Exchange. By his early 30’s, he had become very successful in markets, but a health situation caused him to back away from the grind of being a full time floor trader. During this time away from markets, Scott was completely focused on educating himself about true overall health and natural healing which remains a passion to this day.Scott returned to markets over fifteen years ago where he continues as an independent trader.