?Don?t waste your effort on a thing that results in a petty triumph unless you are satisfied with a life of petty issues.?

? John D. Rockefeller, industrialist

Hello Trader,

Today, I want to expand on the subject of self-concept and how it relates to trading.

All too many times, aspiring traders enter into trading believing that they are going to make money hand over fist right out of the starter?s gate. They plan on making their first million in the next year because they have read about other traders that have done it or they plan on making $50,000 a month before they have ever made $50 a month trading.

If a person?s self-concept is wired to make ?big money? right away then they are behaving more like a gambler than a trader. It is possible that their self-concept and psychology is programmed in such a way that there self-worth is tied to their net worth. In other words, they can?t feel good about themselves unless they make a lot of money to validate their worth to themselves or others.

Imagine for a moment what such a mindset can do to your trading? Do you think that such a person would take bigger risks in the hopes that a huge profit would make them ?feel better about themselves?? Do you think such a mindset would cause a person to lose all objectivity and ignore their risk control?

It is important spending time examining your mental and emotional framework in order to make sure that your beliefs help support you in your trading goals.

Till next time, take care.

Good Trading,

Billy W. www.stockoptionsystem.com

3828 West Davis Ste. 308-108 Conroe, TX 77304