Overcoming the 7 deadly sins of trading by Ruth Barons Roosevelt

Overcoming the sin of fear

  • It is a miserable state of mind to have few things to desire and many things to fear
  • Whether fear is your friend or foe depends on whether you become its master or its servant
  • Do the things you fear and the death of fear is certain
  • Many of our fears are tissue-paper thin, and a single courageous step would carry us clear through them
  • Loses are a simple cost of doing business
  • Since I always limit my loss to an amount my account can withstand, there is nothing to fear
  • I have the courage to do whatever it takes to succeed at trading
  • Each trade is but one of many
  • I keep my focus in the present because this is where the action is
  • The potential profits are worth the risk
  • Trading is about money; it’s not about my survival
  • Trading is only one way in which I can make money
  • I learn and grow stronger with each trading experience
  • The future of my trading is bright

Overcoming the sin of greed

  • There are two great mistakes that a trader can make. First, he can lose all his capital. Second, he can fail to take advantage of an opportunity
  • I can always make enough money to meet my needs and wants
  • There will be time to learn and develop and create
  • I am enough. I have enough. I can create enough
  • The universe is abundant
  • Life and the markets provide me with rich and recurring opportunities

     

Overcoming the sin of recklessness

  • Anything can happen, so I always trade in moderation, in appropriate size.
  • Anything can happen, so I always use protective stop loss orders.
  • I have all the courage I need to trade my proven methodology
  • I know that I am central to the results of m trading, so I prepare my conscious and unconscious mind to trade effectively.
  • I trade with probabilities foremost in my mind.
  • I verify that my trading guidelines put the probabilities in my favor.
  • I have all the time I need to create my wealth

Overcoming the sin of perfectionism

  • I am perfectly human
  • I do my best and my best is enough
  • I am becoming a better trader
  • Trading is an imperfect art and science
  • The future is not knowable, so I don’t have to accurately predict it
  • Being right is following my method and rules
  • I am worthy of forgiveness
  • I can forgive myself and still improve
  • I pay attention to my progress

Overcoming the sin of pride

  • I am much more than my trading
  • I accept myself just as I am
  • I am okay just as I am no matter what anybody else thinks or says about me
  • I can learn from my trading mistakes
  • I am becoming a better trader through learning and practice
  • I am a worthy person aside from my trading and accomplishments
  • I deserve to win
  • I am humble in front of market forces. The market is bigger than I am
  • The market will always do what it wants to do, and I can make it my guide and follow along
  • No one trade will ever make me feel bad.
  • No one trade will ever stop me from being and becoming who I want to be

Overcoming the sin of anger

  • I can act calmly, and still protect myself.
  • I learn from my mistakes, and I forgive myself
  • I communicate my needs to others in a pleasant, effective way that makes others want to respond to my needs
  • I accept myself thoroughly and completely even when I do things that don’t support my trading.
  • I take honest responsibility for my own actions and correct them
  • I can be in control without getting angry
  • I am learning to master my emotions by taking the most effective action available to me
  • Tomorrow will be a better day

Overcoming the sin of impatience

  • Time is on my side
  • I have all the time I need to accomplish what I want
  • The world is an abundant place
  • The market is a rich source of unending opportunity
  • I can be alignment with the quiet part of me even as I watch the market
  • The market moves in its own rhythm, and I can move fast or slow depending on it’s pace
  • A person is able to create wealth slowly through trading
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~ by antinomian on October 22, 2007.

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