Everyone knows that although trading is a system based on analysis, traders are quite superstitious people. The luck factor still has a place in the market. What superstitions do traders follow in their market adventures – black cats? Spilled coffee? Red clothes? Let’s find out and try to explain the inexplicable!
Money likes to sit still
This one is quite simple. Many traders believe that the more they talk about their money and their successful operations, the more fear they will be lucky and will eventually get away from them. Arrogance does not fit good traders – it can block the cold mind with dreams of billions ahead. Nobody needs that, right?
The golden rule of the three unfortunate orders
In some fairy tales, number three is considered magical. Apparently, traders also believe in the magic of numbers. If you reach three orders lost consecutively, then it is a sign that you stop, according to the trading wolves. Take a rest! Don’t push the market, and it won’t hit you back – it sounds quite logical.
Operate on a Friday? Watch out
Many traders believe that operating on a Friday is bad luck, be it a Friday 13 or any other (Tuesday 13 is also considered bad luck, especially in Spain, Greece and Latin America). Well, technically the market may be less stable before the weekends and have more unexpected turns. Also, a trader is mentally tired at the end of the week. But there is a solution for this superstition – read our article on how to operate on weekends.
Not seen in red!
Many traders around the world believe that red is a no-no for the fate of the market. The red color is considered to symbolize the fall of the market. Perhaps it also has something to do with the red color that irritates bulls? Who knows, but definitely nobody wants to risk that, even to try to break the superstition. To hide your cold red socks or scarlet shirt to prevent the police from the market to arrest you!
Pray about the Buffet book
Yes, there is an unquestionable authority in the world of trading: Warren Buffett. Traders believe that reading one or two quotes from your book before the trading day begins may attract some of Mr. Buffett’s luck. Whether or not Buffett’s prayer helps, dating is still a good way to stay motivated – and you have to admit that a high spirit is 30% of success!
So how about a black cat?
A black cat is a known omen of bad luck, not only for traders but in general. But do you run away every time a cute black kitten crosses your path?
It is difficult to say whether superstitions in trading really have any practical impact or not. But traders are still people who believe in luck and in the specific signs of the universe. Some have lucky ties; some have a favorite stray dog that always shows up before a good operation; Some avoid opening orders when it is raining. Tell us about those unspoken signals from the universe you believe in!