In every complex environment there are written rules and there are unwritten rules.
Written rules are the ones everyone knows about. They are the platitudes commonly found in textbooks and on posters adorning the walls of corporate offices.
Follow your dreams.
Always tell the truth.
Don’t break the law.
(In trading) Cut losses and let profits run.
Written rules are simplistic, naive, and meant to appeal to the largest number of people. Follow them if you want to get the same results as the average person.
Unwritten rules, on the other hand, are those you don’t hear about in public. They are the rules whispered behind closed doors and in small circles.
Go to where the money is.
Keep your opinions to yourself. Just smile, nod, and go about your business.
Make your boss look good.
(In trading) Understand who you’re making money off of
Unwritten rules are unpalatable, but effective. They reveal cold truths that make the average person uncomfortable.
Hidden within unwritten rules are the secrets of how a goal is really achieved. They reveal the practical realities of how the sausage is made.
In every competitive arena – such as trading – it’s not enough to know the written rules.
If you want to win, you need to find out what the unwritten rules are.
That’s how you rise above the crowd and get above-average results.