I saw a fortune-teller on the streets of New Orleans one time. People would walk by and she would tell their fortune. I often wondered why she was on the street if she could tell the future. Why didn’t she go to Wall Street make millions and retire? Why didn’t she go to the casino that was less than a mile from where she was sitting?
The obvious answer is that she could not tell fortunes at all. No one can.
The future is something unknown to all of us. So when we trade why do so many people trade as if they can tell the future? Why do so many risk their hard-earned money on a future that is unknown?