Probably one of the most misquoted sayings is, Money is the root of all evil. In fact, this quote, with Biblical origins, was actually written as, For the love of money (and all it buys) placed before the love of God (in reality) is the root of all kinds of evil. Huh? Thats some different from what is now noted about money, isnt it? Perhaps because we all grow up thinking that money is the root of ALL evil, we have an innately negative feeling about money and all it can bring to us. A self-sabotaging attitude about money can be the cause of many financial woes, but for traders, it can be the path to failure.



A healthy attitude about money is essential to your success. You may have a set trading plan, and feel confident that you will execute it with clarity. But when it comes to action, many novice plans become reactive and forget their plan. Why does this happen? Well, for many reasons, but if you were to study the subconscious of these traders, you might find that they secretly do not feel that they can make money or they believe it is wrong to become financially successful. They incapacitate themselves by their damaging views of money.

Money is a hugely emotional, psychological and symbolic entity in our lives; we each bring our own meanings, emotions and experiences to our relationship with it, says psychotherapist Kate Levinson, Ph.D. As the #1 source of stress for many of us, money definitely has an effect on our physical well-being. And for those of us who are heavily involved in the stock markets and the financial world, this stress can be multiplied ten-fold.

To be a successful trader, it is necessary to examine your own feelings about money. How did your parents treat money? Were they frugal, generous, stressed out about money? Did they teach you the basics about finances, or were you in the dark about how to balance a checkbook or even open a bank account? Your feelings about money come from your childhood, and it is important to truly understand from where your attitudes have derived.

The bottom line is that money is neutral. It can be used for good or evil. By better understanding your attitude and values toward money, you will be able to gain control over money - and your trading decisions - instead of it controlling you.

In the mean time, Good Luck on your journey to success.