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Journey to the know Unknown
II. Treasures
It may frighten thee
To fail
Like the sailor
Journeying
Through uncharted waters.Take a moment
A step back.Expand
Your field of view.Lest –
The treasures
Of
Life’s greatest lessons
Never take form.– AWB
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Journey to the know Unknown
I. Pursuits
That in your pursuits
You discover within you
A drive to seek
In ways that
Satisfy
Your think tank.That in your pursuits
You find fulfillment
In flying through
Decades of lessons
Like the sky
Is just the foundation.That in your pursuits
Your efforts are
Recognized
Rewarded
Valued.That in your pursuits
Your star
Shines bright;
Brilliantly so
That it renders
Sight to the blindThat in your pursuits
You are –
revolutionary.– AWB
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If I was to explain my understanding of trading…
IV – As for psychology
In previous posts of the series, we walked through an analogy to illustrate the trading environment; then, we addressed how traders make sense of the vast information and place trade. The last post addresses business costs (losses). This discussion will focus on trading psychology.
A lot of the material about trading reveals that mastering trading, that is, consistently profitable, reflects an individual’s ability to learn about themselves and translate the information to become efficient.
The thought process arises because the market exposes traders to various emotions, allowing them to confront their relationship with themselves and money if they intend to achieve profits consistently.
Some of the phenomena that all traders encounter are associated with their fears, such as the fear of missing out (FOMO) and the fear of losing. Regardless of the occurrence, they illustrate that a trader is experiencing an imbalanced state of mind. Producing consistent results demands that traders address such internal conflicts.
Conclusively, consistently profitable traders understand how the market works, create a strategy that aligns with their needs, account for and manage business costs, and pay special attention to their psychology.
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If I were to explain my understanding of trading…
Part III – Where do business costs come in?
Previously, we highlighted how traders make sense of the noise. This post will address business costs, commonly known as losses, how they arise, and how to manage them. Yes, they are inevitable.
The notion of losses is essential because we have all heard from traders that they have lost money at some point. No trader can avoid losses.
For instance, you might hear that oranges are currently on sale. Anticipating a shortage in a few months, you buy a bunch of them and store them, waiting to sell them at a higher cost when they are scarce. The goal would be reaping profits from the difference between the higher prices you will sell them and the initial investment.
But, alas!
A few months later, oranges are still on sale. In fact, at a lower price than you bought them. So, now you have to sell all of them at a discount unless you would rather they all get spoiled and lose all the initial investment.
In the same way, sometimes, misjudgment occurs, or the random forex market reacts against your position. Unlike the orange analogy, you will learn to risk only what you can afford to lose, ensuring you remain with capital to trade another day when an opportunity aligns with your strategy.
Through risk management, you will learn to prepare for inevitable situations by setting up your trades to take you out of the market if a trend reverses against your position.
For the final post of the series, we will address trading psychology.
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If I were to explain my understanding of trading…
Part II – How Traders Make Sense of the Noise
The previous post defined the forex market and the role of the trader. This discussion focuses on how a trader analyzes the information before deciding whether to buy, sell, wait, or stay out of the market.
Well, first, they choose to focus on specific markets or pairs, say three to four.
Next, they learn to observe the market structure, a record of past market movements and price action, and relatively real-time price movements.
A trading strategy will inform the kind of patterns traders seek in the random market movements. The strategy also determines the tools used. After identifying the strategy, traders experiment with it by taking it back in time for various pairs in a process called back-testing.
The goal is to determine which pairs generate the most significant hit rate, such as 40 to 60% (i.e. 4/10 trades will return profits or 6/10 trades will return profits). The data from the test will inform the trading plan, a framework that guides the traders as they navigate the market.
Stick around for the next post; addressing losses or as I prefer to call them, business costs.
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If I were to explain my understanding of trading…
Part I – How traders attempt to make money
The forex market is like any other market. It is filled with buyers and sellers. It is noisy. You cannot quite make out the precise exchanges and negotiations going on between buyers and sellers.
The role of the trader, like any other person in an open market, is to identify the best deals so that they make a profit. Thus, the goal is to buy the goods that are desired at a discount and sell when buyers offer attractive returns relevant to the initial investment. The process repeats itself multiple times to generate buying or selling pressure, driving prices upwards or downwards.
Next, we will delve into how traders makes sense of all the noise.
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New Podcast Segment
I love music. That’s one of the reasons for this particular segment. This is a music review of sorts. I get to share my thoughts about Giveon’s body of work. The intention of this segment is to keep me consistent. So, if it sounds a little shaky, it’s because I am still getting the hang of it.
Ps. I will limit my thought process to bodies of work that I genuinely enjoy; from artists that are my favorites.
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Father’s Day!
I will call this the Father’s day post because the first post falls within Father’s day week. The post is special for two reasons.
- The day after seeing a father watch over his son, I could not stop thinking about it. It is that trail of thought that led me to have the idea of a podcast. So shout out to whomever that father was.
- Well, obviously, Father’s day and the fact that a lot of guys around me are becoming fathers.
We should give the flowers to those that are putting in the work to raise brilliant minds. I appreciate my dad, grandad, and uncles for creating an environment that has allowed myself and my siblings to make sense of the world and get the hang of how to navigate life. This is the piece I wrote about that father;
A Different Perspective
Yesterday I saw I young father watch over his son in a matatu. He looked down as he held him every time his son flinched. He watched him when his son was calm ( almost sleeping ) in his arms. It was evident that his son meant the world to him. I believe it would be refreshing to see conversations and stories about these present fathers. It is beautiful to see. Cheers to you, young Kings.
In honor of fathers taking up the reigns of raising children; We salute you. We love you. Here are pieces of guidance from fathers I am proud of.
Common advise to teens/youth: – Live within your means, not your neighbors means🤑. In other words, do not try and copy the lifestyle of others since life is not a race😉.
– John Walubengo.
Offspring of the FATHERS are the YOUTH. Y.O.U.T.H = Young 🌱 & Old United in Truth & Holiness! In their Unity they can learn from the; Basic Instructions Before Leaving Earth 🌎🌍. B.I.B.L.E a few things like:
1) A Youth who was an amazing offspring of a Nursery Teacher went to train also as a teacher. Having returned, one day at Breakfast the youth announced: “From what we have learned I can prove that these TWO eggs 🥚🥚 are THREE! The young teacher asked the parents to count the eggs: – the father pointed to one 👉 egg 🥚 and said ONE! The mother to another and said TWO! The young teacher asked the Mother, “1 + 2?” “Three,” the mother responded. Amazing for the offspring, but mother having more life experience challenged youth: “Give me one egg 🥚and the other to your Dad, and you eat the THIRD!” The mother chuckled, knowing the young teacher has been fixed! Now, go for 🥞 Break before starting lesson TWO.
2) In Math: He multiplied Bread 🍞 and 🐠🐟 Fish (Jn 6:9-15).
In Chemistry: He turned water 💦 into wine 🍷 (Jn 2:1-8). Later he turned bread into his body and wine into his blood (Mt 26:26 & Mt 26:27).
In Biology: He defied ☠️ DEATH and rose from the DEAD! (Last Chapters of the Synoptics verse 6 e.g. Mt 28:6 etc).
In Physics: He defied what is called Newton’s Law of Gravity and rose upward ⬆️ gracefully (Lk 24:51, and Acts 1:9-11).
Indeed the parents by now were expecting the multiplication ✖️ of the two EGGS, as this was no other than INRI/JNRJ (Jn 13:13) like a 🐄 cow’s hoof ! BUT actually: (JESUS NAZARINUS Rex JUDAEORUM)
As you can see learning from the BIBLE is whole Life Syllabus! If you do not learn then on dying you will meet the devil 😈 who will create False Evidence Appearing Real (FEAR!) Since we are still YOUTH time is available if we start by Daily Bible reading for FIVE MINUTES!
The final addendum is a story. A Mzee told his youngest grandson to be careful about a Lad who liked Glass without “G”; because such fellow should take away “L” and that is he! The grandson said, “Isn’t that an insult?” Mzee said “Precisely! He needs the insult. Because if he doesn’t know Basic Instructions Before Leaving Earth 🌎, AIDS won’t insult him. But neither will it SPARE him !!! So better to be insulted!”
-Nicholas Nyongesa.
I trust that the information was insightful. See you on the next post.
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