How to Be Detached Emotionally From Money

Money can be an emotional thing - and when emotions control your decisions, you can make some bad ones. 

I have discovered a huge key to trading success is the ability to be emotionally detached from money. 

How? And how can you do the same in order to succeed in the stock market?

This life experience taught me something valuable: I couldn't afford not to take a risk financially. 

I already didn't have money and I knew what that life was like. I didn't have any other option but to try. 

When I started trading and had about $2,000 in my account, I didn't look at it emotionally because I knew if I lost it, we were already broke. 

So I had to try and I had to approach it with logic. 

Most people may have let fear run their decisions, but I didn't have any because we already were broke and already living. 

I was more excited to see that $2K grow and focused on that. 

Money was simply a tool to get out of the situation I was in. 

One year early on in my trading journey, I lost my whole trading account which was about $250K. 

I thought it was the worst day of my life because I was making about $100K/year in the stock market. 

But now looking back, that wasn't a great life.. I now can make $100K in ONE trade instead of one YEAR. 

I thought I would never come back from that loss. 

But I realized:

Money comes, money goes. 

It's never the best or worse day - it's just life. 

I am committed to trading in the stock market for life. And in it, you may lose money, but that's what you agree to when you sign up as an investor. 

I once heard a saying similar to something along the lines of...

"Thousandaires risk hundreds to make thousands, millionaires risk thousands to make millions, billionaires have risked millions to make billions... but broke people are willing to risk nothing but want everything"

So I knew that it was apart of the game - the most important thing is that you live to play another day and you can make that money back. 

You have to be detached from money.

As long as you have your family and health and faith... does it even matter?

I was broke before and living. 

You have to believe in yourself and know that everything will work out. Believe in yourself and be happy with what you have. 

Money is just a tool. 

Once you manage that, you can make better decisions.