When You Stop Focusing On Money, It Tends To Start Chasing You
Investing is all about money.
Money being productive in its own right, producing gains that can then be used for other things in your life.
But in an all too common paradox in trading what seems right, normal and correct, in fact is the EXACT OPPOSITE from what you need to do…
If you focus on the money as a trader or investor, it usually acts as kryptonite to your profitability.
Many stories from my consulting practice jump to mind.
They all fall into a similar pattern.
I remember a guy who wanted a million dollars so bad he could describe to you in detail how his celebratory champagne would taste.
He had turned a couple hundred thousand into $900,000,000+ and was oh so close to his goal.
He could see his account turning over into seven figures for the first time...And so he started attacking his goal.
He traded a LOT...broke most of his trading rules and compromised his edge in order to "get trades"...
The story had a tragic end.
The fellow had totally wrapped up his self worth into an arbitrary number...
And this self imposed pressure led him to excesses in risk and low quality trades that cost him most of his account's value and set him back years...
For this reason, I always work with my clients to redirect their goal oriented focus away from the monetary outcome, back to their process.
I want them to relentlessly pursue perfection in their execution of their trading plan.
Total discipline as they stick to the plan.
Because as I have seen again and again, if they achieve laser like focus on proper execution, they will always come back to me at some point with abject shock and to be honest a little embarrassment about how much money they have made.
It makes them uncomfortable because they were so focused on the process, one that they enjoy...
That it felt to them like "they didn't do anything" in order to capture those gains!
I want that feeling for you, and the peace and tranquility that this brings to your trading/investing.
It's simple to achieve, but SO tough to actually accomplish...
Because, it takes commitment to walk away from the money that the world has such an obsessive focus on.
But of course ironically, once you drop money from your mind as a goal or a focal point, it suddenly becomes abundant and always available to you when you need it.