turn the Fear of Losing Money
into a
Winning Mindset
Special Report #2
Turn The Fear oF Losing Money inTo a Winning MindseT
The cave you fear to enter holds the treasure you seek.
JOSEPH CAMPBELL
I
t's a chicken or egg kinda thing. You want to build wealth because wealth is important to you. So, you take your hard earned cash and risk it by "investing" in your ability to define the direction and distance a financial asset will move. No matter what software, education or whatever special talents a trader might have, there is always the probability that the trader will be wrong. After all, the "random walk" is just that. So, building wealth through investing can become "a dance with the devil". It's exciting because of the potential gain but at the same time it is a bit scary because of the potential pain. Pain caused by losing a valuable asset and pain caused by being wrong; a double whammy that carries a significant impact. The paradox for most traders is that making money is an important factor in the motivation of becoming a trader but at the same time money used for trading should have no emotional importance to the trader. We "In the case of are told that trading capital should be "expendable". That doesn't mean that you are so wealthy money means nothing to you but the trader, money it does mean that losing much of you trading capital will have should be just a little or no impact on your ability to continue to live your life means of keeping normally. In the case of the trader, money should be just a means score." of keeping score. But for most of us, money is a very powerful symbol and is easily tied up with our self image and ego. Contrary to popular rationalization, you are probably a better person with it (money) than without it. If you didn't believe that, you wouldn't be trading. So, at some point in every trader's career, losing money is usually a painful experience. It's all a matter of scale. What does that mean If you are a very wealthy person, going out to an expensive restaurant is no big deal. You probably do it all the time. But to an average person, an expensive restaurant is only for special occasions (unless it's all-you-can-eat).

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