"There is no greater calamity than to slight one’s enemies" (from Laozi, Chapter 69)
In the classical Chinese text Laozi (Chapter 69), there is a passage that goes as follows.
“Wazawai wa teki o kinjiru yori ō naru wa nashi”
If translated into modern Japanese,
“To despise and view the enemy lightly is the greatest calamity.”
That is, “There is no greater disaster than looking down on and underestimating the enemy.”
The lesson this phrase conveys is extremely universal.
The moment you underestimate the other party, your own mind will sprout carelessness, complacency, and arrogance.
Then you will neglect the preparations you should have made, and as a result you may even be defeated by an opponent who “should not be defeated.”
Laozi probably saw the terrifying nature of human psychology long ago.
Recently, when browsing the internet, I notice a tone of bashing toward China.
It is understandable to feel emotional.
However, if we ever face a situation like “a war,”
what is needed is not emotion but calm, realistic recognition.
The moment you overestimate the opponent, the path to defeat begins.
Precisely,
“To despise and view the enemy lightly is the greatest calamity.”
This is Laozi’s own words.
This lesson is not limited to war or interstate issues.
The same thing can be said in the world of forex and markets.
In other words,
“To despise and view the market lightly is the greatest calamity.”
That is what it means.
When consecutive wins continue, people tend to become overconfident.
“I’ve got it now,” “Today no matter what I do, I’ll win.”
That feeling unwittingly begins to control the heart.
And you end up making entries with little justification or trading in violation of the rules.
But the market does not overlook our arrogance.
The moment you lose respect, it comes back with a merciless reversal.
That is why,
whether you are winning or losing,
you should always maintain respect and a sense of awe toward the market.
Laozi’s words, crossing more than two thousand years of time,
may quietly sound a warning to today’s markets and to our own hearts as well.
— See you next time.
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