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TRADING NAKED

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the interpretation and application of price action concepts

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We all share a similar path in Trading. Even though you may not be a consistently profitable trader now, you can chose to enjoy the path. This alone may make the difference in your success.
 
 Mind Over Markets TM - March 22, 2005
Money is only a tool. It will take you wherever you wish, but it will not replace you as the driver.    
- - Ayn Rand - ;    
Feature Article

Psychic Income

Are your profits down lately? Has the novelty and excitement of trading worn off? Are you looking for reasons to stay in the business? You might want to consider how much psychic income you make from trading. It can give you a new perspective and energize you when you're in a little bit of a rut.
When it comes to feeling rewarded for our work, we usually only think of how much money we're taking home. But we get more income from work than just money: Psychic income is the intangible gratification or value that is derived from work. Sure, money is important, but so is the satisfaction you get from your job. When you start thinking that there are better ways to spend your time than monotonously staring at your screens, consider the advantages that trading provides compared to other jobs.
Trading has its pitfalls. It can require you to work long hours. It's inherently stressful, and unless you are careful, the stress can wear you out. But trading has many rewards that other professions don't offer, and depending on your preferences, these psychic rewards can keep you moving forward when the markets aren't offering the opportunities that you desire. If you trade your own account, for example, you can relish the fact that you are your own boss. You don't have to please a supervisor or deal with office politics. If pointless meetings and petty squabbles get on your nerves, working by yourself at home provides significant amounts of psychic income, income that in many ways has greater value than a 50% increase in profits.
The psychic rewards are endless. For example, the control and freedom that traders enjoy make trading extremely rewarding. If you don't feel like trading for a week, there's no reason not to take some time off. If you want to work only a half-day to spend time with family and friends, you can do it. You don't have to submit a vacation request and wait for approval. Many winning traders are independent thinkers who would rather go their own way. The trading profession allows them to express their individuality in a way that few professions provide. On that basis alone, the psychic income trading provides is immeasurable. Similarly, trading is a profession where pure talent is rewarded. Not anyone can make profits as a short-term trader. If you are one of the select few, you can feel a sense of accomplishment knowing that you are a member of an elite group. There is something rewarding knowing that you excel in a field that few people can master. Trading energizes some traders. They find it exhilarating and thrilling. If you find the typical 9-to-5 job mundane, you may gain large amounts of psychic income from trading.
Any job can become tedious and routine at times. And that's especially true when market conditions aren't conducive to your trading style. Our first inclination is to view trading as only about making money, but it's more than that. Trading offers rewards that are just as important as money. The more you consider the psychic income you take home along with your profits, the more you'll appreciate the work you do day in and day out.

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