› Currency market is like sports

Currency market is like sports

18.07.2018, 15:10

“You are excited when you go out on the pitch to play an important football or tennis match. You’re focused, you’re strained in the good sense of it. And I think when you are sitting in the operational desk right before the employment report to be released… you’ve got the same feeling”, - one trader explains. So, the currency market is perceived like a competition or a race when it comes to “sport” metaphor. The target is to win competing with others. Another trader says: “You need to have competition spirit, be the best, have a strong wish for a victory, to be a bit faster, more focused or even smarter”. In the sense of “sport” metaphor related to the currency market: “Everyone becomes an iron man,” - as explains one more trader. This target to win is usually pursued in an extremely competitive environment of other market players.

tennis match
Source: Wikipedia

The “sport” metaphor gives to the currency market much more predictable and less dangerous view, rather than “war” metaphor, which will be discussed further. Sport competitions usually take place in a certain framework with determined start and finish. There is a certain “pitch” to play on and a certain number of rules is usually respected. There are also some additional features, which differ sport from war, though: sport players are not destroyed completely, as they are needed for the competition to go on. Thus, any sport usually means presence of genteel atmosphere, fair play and sport skills. Such an atmosphere helps to shadow some of real and potentially dangerous influence of the market to the external social and political world. If the currency market is characterized by the “sport” metaphor, then the emphasis is made on action and the player’s actions on the pitch, but not on the viewers and spectators. Sportsman can lose despite the wish for a victory. And the market could be cruel as some previous super star players could be forgotten: “Some competitors can come off the game if they do not get points anymore, it’s like in football or running. They will never come back” - one of the currency market traders said. “Hunting” and “pursue” - those are images, which are closely correlated to the “sport” metaphor when it comes to the currency market. Such images group maximizes feelings like dynamic movement, speed and excitement. There is a market player motivation to take part in the chase, run and compete together with other market players. Such an environment, as well as in the sport, is always related to a danger, which drives the market players to pursue a target or stay away from that danger. One traders has such a description: “Those are rabbits, which run and scatter in all sides… they are pursued by a fox”. This example reminds a need to for the self-preservation, the survival facing a danger rather than a thought about a race win. So, the idea of sport arena describing the currency markets and its’ players, is contained less in conditions, which are more likely for the “market as war” metaphor, rather than “market like sports”.

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