How Money Spells Are Impacting Your Decision Making
Posted By Nazy Massoud, April 24th, 2009 : PermalinkYes, spells, you heard me correctly. You may wonder in this day and age, why are we talking about spells?
What are spells? In today’s culture, it is called subliminal messages or going one step further, it is your own beliefs.
Spells are beliefs/thoughts/actions that we follow without really knowing why.
A simple example is when you go to supermarkets. They use scents to encourage us to shop for the things that we probably would’ve not bought otherwise.
Another example is media. On a daily basis, we are bombarded by negative messages. So, we tend to focus on what can go wrong and are constantly waiting for the other shoe to drop.
For the people who are not under these spells, they look at the opportunities that are available.
Did you know that more millionaires were made during the Great Depression than in any other era in U.S. history? Among them Colonel Sanders, who was a grandpa when he started Kentucky Fried Chicken, and Walt Disney.
Furthermore, Forbes magazine says 10 million millionaires will be created by the year 2016.
What is the difference between the millionaire and others? They are not under the same spell that the majority are under. They don’t follow the conventional belief…
There is a story that I heard which reminds me that nobody is immune to the spells.
There was a holy man who was in charge of fundraising to provide services in the community. However, he was under the spell that fundraising is equal to begging. So, he was trying to avoid it with passion.
He came up with the brilliant idea that he would get money from investors and use the interest for charity work and pay back the principal to the investors. Sounds like a great idea, yes?
The problem was that he lost all the money in 3 weeks. So, after all, he needed to raise more money, which for him meant even more begging.
What is the moral of the story? If we don’t notice our spells and make a conscious decision about them, then they manifest in different ways.
So what can we do about our spells?
- Acknowledge them
- Examine them to see if they are serving you
- If the spells are a hindrance, break through them
- Replace the old spells with new ones that serve you
The important thing is that the spells that are not serving you are effective only if you are not noticing them and don’t do anything about them.
There is a saying, “Fear knocked on the door. I opened the door. Nothing was there…”
Here is to making trading success your habit™,
Tags: emotional risk, market psychology, mental edge, money management, Nazy Massoud, Psychology, Risk, trading emotions, trading success