Anecdotes, comments, discuss. " You wonât be losing money so much as youâll be losing what money means to you psychologically. The minute you start using money psychologically youâre banging nails into your trading coffin. "
http://www.fordvehicles.com/fordgt/media_home.asp?media=photo oh psychologically......sorry wrong answer. "freedom" was the first thing that popped into my mind.
" The processes of trading now consume you emotionally. You wonât be losing money so much as youâll be losing what money means to you psychologically. The minute you start using money psychologically youâre banging nails into your trading coffin. Youâll start losing big time because you wonât be losing money so much as losing what money psychologically means to you. In other words you will be losing the representation of the things that are important to you. When you start losing the psychological representation of whatâs important to you, youâll freeze, start acting emotionally and try all sorts of scrambling, compensatory behaviours. Youâll panic and youâll go to pieces. The only time relief will come is when youâve wiped out your account. Youâre on the mat and youâre shell-shocked. How could that happen to you?".
I would say it is the thought of something happening that could potentially lead to substantial loss of income, like illness/disability.
What money means to you psychologically? This question could only come from someone with little or no money. Money doesn't mean horsesh*t to me. Its a nice little way of score keeping for your trading progress and it measures your accumulating store of liquid capital. There is no doubt it gives newcomers to a bit of wealth more confidence. And sure as hell everyone loves (or envies) winners. Wallace, the question should probably be, what does little or no money mean to you psychologically? You will have an audience at ET who can give you their answers.