In Greek Mythology, Pandoras “box” was actually a large jar given to Pandora (the first woman on Earth), which contained all the evils of the world. Pandora opened the jar and all the evils flew out, leaving only “hope” inside once she had closed it again.To get more news about WikiFX, you can visit wikifx official website.
Today, the phrase “Open Pandoras box” means to perform an action that may seem small or innocent, but that turns out to have severely detrimental and far-reaching negative consequences.
How does the metaphor of Pandoras box apply to trading？ Glad you asked ;)
Sometimes, an action or even a thought or idea we have regarding trading the markets may seem small and innocent but leads to disaster. Have you ever been cruising along in your trading routine, doing well, staying on track, staying focused, but then you take one trade you knew was a bad one and it seems to lead you off course and you spiral you out of control？ In trading, we are constantly battling temptation to trade too much, risk too much, make the wrong decision, listen to the wrong ‘guru’ and just one little misstep can ruin months or years of hard work.
Simply put, as traders, we grapple every day with the potentially disastrous consequences of opening the “Pandoras box” of trading mistakes….
As the Greek myth says, once Pandora opened the box, all the evils were released and only hope remained. This is very true in trading as well; once you get off track, it really leads you down a road of temptation that often results in worse and worse trading mistakes until one blows out their account and is left with only the hope of making money. The best way to achieve trading success is simply to make sure you never open “Pandoras box”. The first step to accomplishing that is by knowing all the ways in which this box can be inadvertently opened…