On learning to Think Differently About Money

Faceless bureaucrat: Having immersed myself in these rather impressive DVDs on trading given to me a the free seminar I understand that I must first of all learn to Think Differently About Money.  Particularly this popular concept that to earn more money we have to work longer hours or work harder.  In trading it seems the opposite can apply, which sounds mighty attractive to the likes of me.  I may be a bureaucrat but I like my play time.

From what I can grasp the obstacle for many new traders, particularly those trading their own account like me, is that they find it very difficult to lose money (no!). So when they inevitably do lose a trade this changes their approach to trading preventing them operating consistently and objectively which is vital for successful trading.

I start to see the message, you have to lose some money to be in the game, so to speak.  It's like your stake on the table.  I think I will try to look at it as one trader suggested to me - an investment in my trading education.  Each time I lose a trade - and I am told I will most definitely lose trades, however fantastic I might be - I must explain it to myself as a learning opportunity, to reflect on how I may improve my trading or just to reflect on the randomness that is trading.

Craig - our tutor at the seminar - had confessed, rather charmingly I felt, that even he has "draw down" months occasionally.  I wasn't sure whether I should feel comforted or alarmed by this so I suspended all feeling at that point and just marvelled at his steely nerve.  This is something I need to work on as we faceless bureaucrats are not known for our steely nerves, it is why we are faceless.

So I am now working on this different approach to money.  Part of the understanding is going back to our childhood and the things we were told about money in order to relearn our attitude.

One trader at the seminar told me that his Mum had repeatedly told him "I'm not made of money" so when it came to choosing a career he decided to find whatever was made of money and stick to it.  Someone introduced him to the Foreign Exchange (or Forex for the sexy name), he realised that here was something made of money and has never looked back.  He says he now fishes money out of this pool of 3 trillion (or so) dollars for a living.  I am so tempted.

It all feels rather exciting and I rather warm to this concept that to trade we have to understand ourselves better, this could be a personal growth opportunity for me.  I'm up for personal growth as long as it doesn't involve elasticated waistbands.

 The NHS hasn't offered much by way of personal growth recently, in fact it's felt more like personal decay, particularly since about 2002/03 when obeying orders from on high really became the name of the game.  I'm still waiting for this to change - anyone out there in NHS land who has found the turning point yet?  I live in hope.

And the latest on my own possible redundancy/MARS opportunity.... I have reread the small print on MARS and found a horrible clause which has rendered it worse than useless for me.  The ear I have pinned to the ground tells me that this is common amongst my faceless peers and that no-one is very interested in taking to MARS. Word is that they're telling their managers "You can stick Mars up Uranus". A spirited response I think.

But I rather like my manger who is from The North and has a great sense of humour so I just smile and shake my head at the Severance Payment option when it comes up in our mandatory one to one meeting To Discuss The Implications of The White Paper (diktat said it must be had by the end of Sept and we have all been "performance managed" on this important task).

Redundancy could instead loom but the latest for our team is a temporary reprieve.  This is down to the fantastic political skills of She From The North.  She has done fancy footwork with various managers more powerful than we which may or may not have involved intimate contact.

We now definitely have until April and may even go on a bit longer depending on how much pressure is put down from On High.  Oh the joys of one's livelihood being at the whim of the politicos. This does now involve Thinking Differently About Money but perhaps not in the way I really need to right now.  That sort of carefree way in which seeing your balance diminish does not phase you.

But still, I have seized control of my future and am nailing my colours firmly to the trading mast and at least I know I have another 6 months of work and income during which to learn my new skill.

Better get back to those DVDs.....