“Every one who comes to me and hears my words and does them, I will show you what he is like: he is like a man building a house, who dug deep, and laid the foundation upon rock; and when a flood arose, the stream broke against that house, and could not shake it, because it had been well built. But he who hears and does not do them is like a man who built a house on the ground without a foundation; against which the stream broke, and immediately it fell, and the ruin of that house was great.” (Luke 6:47-49, RSV).
The Word of God
What is a trader’s foundation? Neither stochastics nor Elliot waves, but the word of God . . . which Jesus expressed so eloquently. Of course, the word of God is not a technical indicator and thus subject to different rules of interpretation. Who ever heard of an exegesis of stochastics (George Lane 3:0-0, RSV)? Unfortunately, technical analysis is the bible for some traders. It’s not that technical analysis shouldn’t be used in trading; it’s just that it shouldn’t be trading’s foundation.
You need a spiritual foundation for your trading. Then the market can’t break you. “. . . the [market] broke against that [trader], and could not shake [the trader], because [the trader’s spirit] had been well built.” More esprit, less flooding. You could be flooded with emotion when trading and be undone unless you’re rooted in God.
Putting God First
You may ask, “How can I be rooted in God?” Do you ask God during the day what He thinks you should be doing? What does God think about your trading plans? Creating a God-centered life takes work. It means putting God first, putting your ego much farther down the list. You need to make your trading God-centered . . . your “foundation upon rock.”