Words Have A Meaning

Have some fun in learning trading: Tell a friend to close their eyes and stretch their arms out wide. Now get them to think of the world “weak”, and then press down on their hand. You’ll notice their whole arm moves down easily. Repeat the experiment as before, only this time; tell them to focus on the word “strong”. This time you’ll notice enormous resistance in their arm, and you might struggle to move it at all.
Two simple words but two very different results!
If words are so incredibly powerful, just think what you do to yourself when you call yourself an “idiot” or worse! But words are more subtle than name-calling. Try this one . . . . “Loss”. Boy, think what that one conjures up. Missed opportunity? A gaping hole in your life? A theft? A bereavement, even? No wonder traders find it hard to take losses. Let’s call it something else . . . “An expense”. Ah, now it’s sounding better. Much more business like. Helps to put it into true perspective. Similarly, on the other side of the balance sheet, let’s stop talking about . . . “Win.” Which again is steeped in emotion, change it to, “Income”. Income verses expenses. Isn’t that what trading really is? A business. You’re much more likely to become profitable when you realize this. Forget about pitching your ego into imaginary battles that ensnare your sense of reason along the way. Mind your language when trading. Use neutral words at all times, both about yourself and the market. :)