Day Trading Stock - Why It Is OK To Make Tremendous
Amounts Of Money In
Online Trading
If you have studied any of the articles or books on trading psychology
you probably
read that the "fear of success" is actually a greater concern than the
"fear of failure." There are several possible underlying reasons for
this, and here are just a few of them:
1) Earning money through online trading is not well-understood by
most of society since you are not selling anything, working 9-to-5, or
producing a physical item.
2) Earning more money in a month than your parents earned in a year
could set off emotional concerns that "upstaging" your parents will
make them resent you.
3) People who you love and respect will say that you are "gambling" all day long.
4) Some people that you love may even say that you're not patriotic because you short stocks. While it may be funny to read here, this is something which many online stock traders have had to face from family members and friends.
With all of the opportunities for self-sabotage, you should consider creating a list of reasons why it is ok for you to make money while trading. While this may seem ridiculous to you now, just know that it is something which many successful online trading mentors recommend to their students. Over time you will understand the merits for it to help you become a better online trader.
Here are some examples of reasons you can write down to remind yourself that it is ok to make money at trading. Feel free to use, modify, or get ideas from them for your own reasons.
- Making consistent money shows that I know how to trade
- Having the funds to significantly contribute to my favorite volunteer organizations
- Having the credibility to teach others about stock trading
- Having the ability to acquire beautiful works of art which inspire me
- Taking the time to enjoy enriching and memorable vacations
- Having the ability to help any family with financial concerns
- Having the knowledge that I earned my money in an honest, authentic manner
- Becoming more comfortable with risk
- Having the knowledge that I perform well in one of the most challenging games on Earth
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