💥BEWARE! Before it drains your wallet to zero.

Money is a powerful tool in the hands of a trader/investor. Just like in real life, every tool requires a unique skill for it effective and efficient use. The market is structured such that, as assets are been traded, money changes hands between respective sellers and buyers.

One of the cardinal rules of trading is: “Don’t trade when you can’t afford to lose (Scared money)”. Scared money could be your rent, tuition fees, life investments or even borrowed money. In fact, there are few more certain ways of guaranteeing that you will lose than by trading money you can’t afford to lose. If your trading capital is too important, you will be doomed to a number of fatal errors.

- Your will miss out on some of the best trading opportunities because these are often the riskiest.

- You will jump out of perfectly good positions prematurely on the first sign of adverse price movement only to then see the market go in the anticipated direction.

- You will be too quick to take the first bit of profit because of concern that the market will take it away from you.

Ironically, overconcern about losing may even lead to stay with losing trades as fear triggers indecisiveness, much like a deer frozen in the glare of a car’s headlights.

In conclusion, volatility and loses are critical component of trading. That is, you need to risk some money to make money in the market. So, trading with “SCARED MONEY” will lead to a host of negative emotions that will cloud decision making and virtually guarantee failure.

Here is a quick fix:

Always trade with an amount of money that is within your emotional threshold and gradually scale up with time.

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