Whether we like it or not, money is highly prized in our society.It's important.And we attacha lotof
feeling to it.
How then will you feel when you see hundreds of dollars (perhaps thousands, depending on your
account size)go up in smoke in front of you?
The problem is, "expenses" are part of the game.You have to lose some to win some more. There is
no holy grail.
If you can't change your relationship with money,then just don't think about it. Focus instead on
numbers.
Think"percentage of trading account".Think "average risk-to-reward ratio".Think "potential profit
points versus maximum points risked".
Concentrate on getting the numbers right and the money will take care of itself.
You're the one in charge of your trading.You alone are responsible for your success or failure as a
trader.
Not the market...not the trading system...not the government or the Federal Reserve.
You.
That's quite a responsibility. You handle it by being kind to yourself.
Become your own mentor.Watch how you're behaving during the trading session.Be especially
careful to notice your feelings.
Focusing on your feelings gives you useful feedback about your performance.Remember that having a
"winning day"or a "losing day"is not the issue here. All that's important is how you're performing in
the job.
Are you being professional, remaining emotionally detached?
Or are you starting to get irritable at the market...the market makers...the unfairness of life...?
Negative emotions are early-warning signals that you need to cool down and relax.Get back into your
state.
Observe the tension in your body and release it.Just let it go. Perform the visualization exercise again.
Remind yourself that it's all percentages.This is just another trade,just another day.
If you make a mistake during your trading- and who doesn't- don't beat yourself over the head with it.
Learn from it.Make a mental note to build on it. Thank the market for the training lesson ;-) and move
on.
Be nice to yourself !It's very important that you avoid spiraling down in to an emotional cycle where you end up doing some serious damage to your account and to your own ego.
feeling to it.
How then will you feel when you see hundreds of dollars (perhaps thousands, depending on your
account size)go up in smoke in front of you?
The problem is, "expenses" are part of the game.You have to lose some to win some more. There is
no holy grail.
If you can't change your relationship with money,then just don't think about it. Focus instead on
numbers.
Think"percentage of trading account".Think "average risk-to-reward ratio".Think "potential profit
points versus maximum points risked".
Concentrate on getting the numbers right and the money will take care of itself.
You're the one in charge of your trading.You alone are responsible for your success or failure as a
trader.
Not the market...not the trading system...not the government or the Federal Reserve.
You.
That's quite a responsibility. You handle it by being kind to yourself.
Become your own mentor.Watch how you're behaving during the trading session.Be especially
careful to notice your feelings.
Focusing on your feelings gives you useful feedback about your performance.Remember that having a
"winning day"or a "losing day"is not the issue here. All that's important is how you're performing in
the job.
Are you being professional, remaining emotionally detached?
Or are you starting to get irritable at the market...the market makers...the unfairness of life...?
Negative emotions are early-warning signals that you need to cool down and relax.Get back into your
state.
Observe the tension in your body and release it.Just let it go. Perform the visualization exercise again.
Remind yourself that it's all percentages.This is just another trade,just another day.
If you make a mistake during your trading- and who doesn't- don't beat yourself over the head with it.
Learn from it.Make a mental note to build on it. Thank the market for the training lesson ;-) and move
on.
Be nice to yourself !It's very important that you avoid spiraling down in to an emotional cycle where you end up doing some serious damage to your account and to your own ego.
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