Not my money

Yesterday, one of my friends, a fellow trader shared this brilliant psycho-strategy to bulldoze any hesitation to pull the stop loss trigger.

He shared it with me while sipping hot coffee in the historic Indian Coffee house on the famous Mall Road of Shimla.

"I love my two children a lot! I want to ensure that they don't have to go thru all the hardships I had to go thru in my childhood due to lack of money!

I have been learning technical analyses since past 4 months and have started to trade.

My success ratio as of now is sufficient to encourage me to keep taking a career in trading seriously.

Still I do have my share of trades not going my way.

Sometimes I profit big, sometimes small....

But my losses so far have always been really small....

Right from day one I had devised a simple method to guarantee myself that I don't lose except small.

I always keep the photograph of my smiling kids in front of my trading terminal.

Whenever the price of the stock or index touches my pre-decided stoploss

I simply tell my self -

'This is not my money. This money belongs to my kids. I am the custodian of their money. I must protect this capital. Otherwise what will I tell them when I face them in the evening when they return from the school?'

These thoughts are sufficient to make me trigger the stop-loss in a flash!"