Some Wisdom from the Book of Proverbs …

Hello Traders,

Do you want to be successful as a trader?  Then start with this word on your lips every day:  HUMBLENESS!

Recently, I have been re-reading and studying  some of Gann’s Trading Material.  What I found personally interesting is a play on words in one of my favorite Proverbs.

Gann said, “The FEAR of the market is the beginning of WISDOM.”

In the Bible, book of Proverbs 9:10, Solomon said, “Fear of the LORD is the beginning of wisdom,” (NLT).

Another translation of this Proverb says, “WISDOM begins with RESPECT for the LORD,” (NCV).

The rest of verse 10 says, “and KNOWLEDGE of the Holy One is UNDERSTANDING.”

So here we have the completed Proverb from Solomon.  There are several key components:

  • Fear or Respect
  • Wisdom
  • Knowledge or Knowing
  • Understanding

I find this very interesting Gann chose the word Market to replace the word LORD in this Proverb, but I also am in complete agreement with him on this point.

Every successful trader I know, who is worth their weight in gold, recognizes and understands the wisdom of what is being inferred here to us today.

We should come to the market with a very healthy dose of respect, but not to the level of FEAR, if it keeps you from pulling the trigger on a valid trading setup.

You should know your entry, exit, stop loss, and your profit targets before you enter the trade.  KNOWLEDGE is a very important component to becoming a successful trader and the attainment of this KNOWING is WISDOM which equals POWER.

Use this power WISELY!!

 

God Bless,

David ‘Tiger’ Knight

About The Author

David M. Knight

I am a 30 Year Futures and Commodities Trading Veteran. In addition, I enjoy games of skill and chance like: poker, craps, blackjack and roulette. During my professional career, I have developed and implemented successful trading strategies and methods; along with winning systems in games of skill and chance. Join with me on our mutual journey together.

  • Excellent information however I’d like to let you know that I think there is problem with your RSS feeds as they seem to not be working for me. May be just me but I thought overall I would cite it.

  • TradeCraze says:

    Thanks for the feedback. I appreciate you taking the time to comment. I believe I had the wrong url for the rss feed. I connected to my youtube feed now. Thanks again for pointing that out!! Friends helping friends!!