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The writer comes up with interesting observations on the Foreign Exchange Market's psyche with his studies on trader-market relations. He uses the method of applying different metaphors to clarify these views. The major metaphors that traders often use are bazaars, ocean, machine, beast, sports, war and gambling. Such word usage isn't inadvertent. People, by way of these metaphors, arrange all the information they get and give shape to their reactions to the market. The critical viewpoint behind this study is that how you perceive the forex index is also influencing the way you are trading on it. A person who sees the forex market as a game may focus mainly on winning, but s/he may also suffer emotionally when s/he loses. On the other hand, someone who sees it as an ocean may take a long-term view of the index movements. Someone who perceives it as a war zone can have detailed lines of attack that can take them to victory, that is a winning in market trading. Depending on the lives they have led, the traders bring in their own outlooks. Engineers use their equations to model and forecast the market. You find doctors trying to find patterns in the price changes and diagnosing...more
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