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Lost Money from Trading or Good Self Investment?

Sep 8, 2008
You can't enter the world of day trading on a few well rubbed nickels. Jumping in and developing good trading skills takes some time as well as some money. Most new traders do not find immediate success, even short lived success, until after they have spent the money and time learning the process and learning how to recover from the inevitable mistake. Your perception of the money that isn't readily recovered is going to determine whether you stick with it and end up profitable or end up shelling out just to quit.

If you opted to change careers midstream and you needed to get a different education in order to do that, you would shell out quite a bit in tuition, books, perhaps a computer, and of course all the extra little needs that crop up along the way. This is no different. When you are learning the fine art of day trading you do have to take into consideration that you are receiving a very valuable education, and just like all other forms of education, that requires an investment in you first.

You are going to make bad trades and mistakes. Everyone does. It is part of learning the process, learning how to develop yourself, and part of the education that you are receiving. If you never make a mistake, you aren't taking any risk at all, which means you aren't applying anything you're learning. Those losses are part of the total tuition it takes to get to the place you want to go.

For so many traders in their first year, this particular building block is the one that shuts them down. Guilt finds its way into the picture and before you know it a novice trader with good potential shuts down their laptop and walks away from what could have been. If you enter into day trading with the understanding that you are going to spend some money, lose some money, and eventually recoup the money, then you will. If you walk away without investing in yourself, your day trading ideals and hopes just washed away.

Plenty of us have a hard time justifying a self investment. We will invest in everything from our cars and wardrobe to our family members before realizing the value of a self investment. An investment in our future is also an investment in everyone and everything around us. When we are more fulfilled, more financially sound, and while we are putting forth the effort into making us better in any direction we are also positively influencing those around us. We are happier when we structure our lives the way that it works best for us. When we are happier people, those around us are happier and gain from our sense of self improvement.

Most of us were taught to put ourselves second, that when we have others in our lives we were supposed to "make others happy first." We were either taught this through example or verbally. This leaves us with an overwhelming sense of guilt when we are spending money on something that we believe will better our lives but hasn't been proven yet, especially if we are running into resistance from family members. It doesn't have to be this way.

Every individual has a right to happiness, not just its pursuit. And by improving your life you are showing those around you that you are devoted to everyone's needs, including your own. You can't run a car without fuel just as you can't tend to others without fuel. Making positive changes in your life creates fuel.

While resistance, offhand commentary, and an internalized sense of guilt may become a chronic battle for you, you can determine your own worth in the picture and proceed without guilt, should you choose. There can be great joy for everyone involved if you simply allow your joy to spread. When those around you see that you are doing something good, even if the bank account isn't reflecting it quite yet, they will soon realize that your change is positive. And if they don't, well, they aren't the ones living your life.
About the Author
If you would like to immensely improve your trading and investing results, check out www.secrets2trading.com
AND for a Limited Time, you will also receive a FREE copy of a limited number of the amazing book "Trading In The Zone" which is jam-packed with daily trading ideas and psychological preparations to instantly improve your trading and investing performance.
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