What Can Tortoises Teach You About Forex Trading?

Nature teaches us many things. The ancient man and the modern man got many inspirations from nature in his quest towards comfortable living. It simply means that if we are willing to learn from different manifestations of nature, then the nature is willing to teach us many of its virtues.

As forex traders, we also have a lot to learn from nature. Take for example the case of one of nature’s splendid creations – the Tortoise. Like any other creature, the tortoise also has some unique attributes which we can apply in our trading life for success. Without further ado, let us look into the 4 main lessons that a tortoise teaches forex traders who are passionate when it comes to racking up accomplishments without feeling dissatisfied.

1. Longevity: Tortoises are here not to make a quick visit. They are here with a longterm plan. Similarly, forex traders should also enter the field of trading with a longterm plan instead of a short-term plan with the idea of making a quick buck. Losses are a part and parcel of forex trading. It is something which we cannot avoid completely. Therefore, it is always better to focus on half-yearly or yearly profits rather than weekly or monthly profits.

2. Withdraws from Unfavourable Conditions: As you might have observed, tortoises withdraw their limbs and remain inside their protective shell whenever they find that the external environment or situation is not conducive for their smooth survival or journey. They extend their limbs out only after making a good judgment of the situation. This is something a forex trader should always do. It does not matter whether you have the required knowledge and skills about forex trading. There are many other factors that decide the fate of a trade that you execute. Hence, even if you are an experienced trader, you should always evaluate the market condition before entering into a trade and ensure that it is favourable vis-à-vis your skills, knowledge, temperament, and style.

3. Slow & Steady: Tortoises, even after making sure that the conditions are favourable for them, take each step with caution and never do anything in a hurry. Similarly, the way you tread your forex journey should be based on these two important principles – slowness and steadiness. Being slow does not mean being lazy, instead it simply means not to do anything in a hurry. It does not matter whether you are slow or not at par with others. You are improving so long as you are moving forward. The cumulative effect is so high that you will soon start reaping consistent gains. Steadiness here means preserving the progress and gains that you make.

4. Breathe Deep: Tortoises are very calm and composed because they take rhythmic, regular, deep, and light breaths. Such breaths make humans mind adaptable and intellect sharp. To get the full benefit of the knowledge and expertise that you have gained over the years, you need to have a calm mind, otherwise the turbulence in your mind will act as a block to your intelligence and prevent you from applying your expertise on your trade, plus the best method to reduce the turbulence in your mind is to make your breathing rhythmic and deep.

In that state, you will obtain more clarity and insight. Look at the image below. The clear water is reflecting the image of the boat. In the same way, clear mind will reflect the actual challenge or market situation which will in turn help you to take the right trading decision.

Thus, tortoises are kind of role models for forex traders. Emulate these attributes of a tortoise and apply them in forex trading. You will definitely witness a marked change in the way you are making gains. However, a mere intellectual understanding about these is not enough to see results. There may be certain bad thinking habits that will prevent a smooth application of these principles in your trading. Identify them and unlearning them is the first step. Then make a concerted effort regularly to apply this ‘tortoise approach’ to your trading efforts. Even if you could apply this to one trade, it is an improvement. Gradually you will be able to change your approach and start reaping the benefits.