The Philosopher King
"For I believe a good king is from the outset and by necessity a philosopher, and the philosopher is from the outset a kingly person."
— Musonius Rufus, Lectures
I have touched on the subject of philosophy in trading, in my "daily journals" at the end of January and again at the beginning of March.
We can use philosophy to create the right attitude, which will act as a guiding principle for our trading behaviours.
This is why we have our rules to follow for our strategies, so we can stay within our guidelines and execute our trades and manage them fully to completion.
A big plus from using philosophy in trading, is to have the ability and the self-awareness to be able to analyse what is actually happening during a trade, before it becomes too late to act! This means it is imperative that we react to what we are seeing during a trade, rather than what we expect or hope to see!
I may have used this quote before when writing my "daily journals" but it is one of the great quotes from philosophy, which most definitely applies to trading and I quote; "Don't expect anything and you won't be disappointed, that's my philosophy"
This is so true! We can never expect anything from the markets that we trade and we have to be "in the zone" and ready to react swiftly, as and when required, to protect our bank!
We will also have temporary setbacks on our trading journey and another great philosophy quote to keep in mind, which can help during those tough times is this one; "Everything will be okay in the end. If it's not okay, then it's not the end."
A great reminder that we are on a long and arduous trading journey; but if we stick to our trading principles, things will work out in the end!