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Money is all in the mind

Louise Bedford |  27 April 2014  |  News

mindPeople's love affair with money has always fascinated me.

Mercedes

Want to see normal people do completely bizarre things? Add some money and watch the games begin. How about the friend that disappears after you loan them some money. What's going on there?

There are the siblings who create merry hell at the reading of their father's will. Or the bloke with the secret bank account that he isn't telling his wife about. And then there's the girl who spends too much to impress people she doesn't like, with money she doesn't have. See... it makes ordinary people just crack up!

So is money bad? Of course not. Then what the heck is happening? Money, in and of itself, is meaningless... until we empower it. We give it meaning and it's our own thoughts and emotions around money that determine whether it's a positive or negative force in our lives.

I guarantee you this - change your views towards money and what it means to you, and you'll change your results as a trader. When we realise that money is just a way of keeping score, and it's nothing more than a tool - we detach from it's power over us. We stop it's control over our thoughts and our actions.

Plus, ironically, this attitude paves the way for more of it to enter our lives. Some of the most greedy, money-hungry people I have ever met have barely any of the stuff. Yet some of the most generous, philanthropic people (who don't continually talk about their lack of money) - are some of the most financially wealthy people on the planet.

So which comes first? The attitude about money, or the money itself? Having trained hundreds of successful traders, and seen them at every stage of their wealth development, I can definitely answer this one. The attitude towards money comes first. The way a trader thinks, always precedes their actual share trading results. In reality, some rich people are poor and some poor people are rich.

It's just a matter of time until reality catches up with their mindset.

 

Louise Bedford (www.tradinggame.com.au) is a full-time private trader and author of four best-selling books – The Secret of Writing Options, The Secret of Candlestick Charting, Charting Secrets and Trading Secrets.

 


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