Taken from FTI's thread entitled "Technical Analysis Fallacy"A Lesson about Human Nature.
The Turtle and the Scorpion.
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Once upon a time, LONG LONG ago in China
There was this scorpion, who wanted to cross a river.
Since he could not swim, he waited along the river banks for someone who could.
Along came a turtle, and the scorpion promptly asked if the turtle would give him a ride across.
The turtle quickly replied, NO, NO, NO.
Why? The scorpion asked.
The trutle replied, because you will sting me while I am carrying you across.
The scorpion replied, If I did that, then we would both drown
and What would I benefit from that? he asked.
Accepting the scorpions reasoning, the turtle agreed to give the scorpion a ride across.
While half way across the river, as the waters became choppy.
and the ride became rough, the scorpion stung the turtle.
And as the turtle was drowning, he asked the scorpion why he did it.
Now they will both drown.
The scorpion replied,
I am so very sorry, I couldn't help myself from doing it.
You see, ITS MY NATURE,
---END---
What it means:The lesson my dad taught me was about the
human self-destructive nature.
Thats why we smoke.
Thats why we drink.
Thats why we take drugs and medicine (poison)
Thats why we lov to lov chicks that are naughty.
and thats why most people get killed in markets.
He was not a Forex trader , he was a business man , but he knew the consequences of the human nature.
You see mankind loves to destroy, its easier and their nature.
We destroy so that we can rebuild.
Many traders harbour this self-destructive mechanism, in their subconscious .
even lots of dealers. It's an urge, thingy, something that you cannot scratch.
The fact that most traders are successful in life, otherwise they wouldn't have the capital to trade, works against them. Because they would through their successes have developed a kind of confidence about themselves. When this confidence is carried into positions in markets, it tend to work to their detriment , esp when the view is erroneous. But not unlike Warren Buffet, it can also work in their favour, the prerequisite is close to unlimited capitalisation.