What money means to you psychologically

[Wallace]

Anecdotes, comments, discuss.


" You won’t be losing money so much as you’ll be losing what money means to you psychologically.

The minute you start using money psychologically you’re banging nails into your trading coffin. "

 

[2cents]

freedom

 

[hypostomus]

Pussy.

 

[ER9]

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.

 

[Ripley]

Money means I don't have to carry huge balances on my credit cards.

 

[Batterup]

Money and women make the world go around. Without money no women. I rest my case..................

 

[Wallace]

" The processes of trading now consume you emotionally.
You won’t be losing money so much as you’ll be losing what money means to you psychologically. The minute you start using money psychologically you’re banging nails into your trading coffin. You’ll start losing big time because you won’t 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 what’s important to you, you’ll freeze, start acting emotionally and try all sorts of scrambling, compensatory behaviours. You’ll panic and you’ll go to pieces. The only time relief will come is when you’ve wiped out your account. You’re on the mat and you’re shell-shocked.

How could that happen to you?".

 

[acronym]

Quote from Batterup:

Money and women make the world go around. Without money no women. I rest my case..................

Your case is rested.

 

[romik]

I would say it is the thought of something happening that could potentially lead to substantial loss of income, like illness/disability.

 

[Cheese]

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.