The other day, while driving to work, with my wife beside me, enjoying the mild winter sun and lost deep in thought, I suddenly remarked, "You know, driving is like forex trading." Startled, my wife said, "Driving? What's that got to do with forex trading? And besides, what do you know about driving anyway?"
The need to maintain professional dignity prevents me from narrating the rest of the conversation.
Many a times we can comprehend something better when we see it in the light of something else that we are already familiar with, well versed in. The metaphor of driving keeps recurring to me in connection with foreign exchange trading. We can feel more at ease with foreign exchange trading if we can see it in the light of driving, something most of us do everyday.
Foreign exchange trading is like driving a car. Some people are Formula One Grand Prix drivers, some drive in African and Himalayan Car Rallies while the majority of us are daily city motorists. Whatever be the road you drive on whatever your vehicle may be like, you need to keep your wits about you and follow the rules of the road.
The maximum number of rules apply to the City Motorist - keep to the left (or to the right, as the case may be), stop at the red light, give the pedestrian the right of way, drive within the prescribed speed limit, don't enter into a one way street and so many more. As long as he adheres to these rules, the motorist can be relatively assured of a safe ride to work and back home and that the traffic police will not bear down upon him. The City Motorist can hardly ever afford even a scratch on the car.
The Rally Driver is a little more adventurous and his sponsors are ready to bear the expenses of the car getting mangled as long as he manages to win the trophy. The same applies to people like Michael Schumacher. Both, however, have to follow the rules of the races they take part in, else they run the risk of getting disqualified.
The need to maintain professional dignity prevents me from narrating the rest of the conversation.
Many a times we can comprehend something better when we see it in the light of something else that we are already familiar with, well versed in. The metaphor of driving keeps recurring to me in connection with foreign exchange trading. We can feel more at ease with foreign exchange trading if we can see it in the light of driving, something most of us do everyday.
Foreign exchange trading is like driving a car. Some people are Formula One Grand Prix drivers, some drive in African and Himalayan Car Rallies while the majority of us are daily city motorists. Whatever be the road you drive on whatever your vehicle may be like, you need to keep your wits about you and follow the rules of the road.
The maximum number of rules apply to the City Motorist - keep to the left (or to the right, as the case may be), stop at the red light, give the pedestrian the right of way, drive within the prescribed speed limit, don't enter into a one way street and so many more. As long as he adheres to these rules, the motorist can be relatively assured of a safe ride to work and back home and that the traffic police will not bear down upon him. The City Motorist can hardly ever afford even a scratch on the car.
The Rally Driver is a little more adventurous and his sponsors are ready to bear the expenses of the car getting mangled as long as he manages to win the trophy. The same applies to people like Michael Schumacher. Both, however, have to follow the rules of the races they take part in, else they run the risk of getting disqualified.
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