I lost money this week. It was a relatively small amount. But it still hurt because in my mind I was expecting to make money instead.
Before we make a decision there is usually an outcome in our minds we want to reach. Sometimes we do, then it’s pleasant. We think we are good, awesome, made the right decision etc.
But what if the outcome is different than we had in mind? Like it was with my investment decision.
Then the mind turns against us if it’s not trained differently.
Doubt arises, blame, confusion.
Did I make a mistake? Am I stupid?
Everything goes through the mind at that moment. But if it’s trained the right way You can sift through the noise and take only what is useful.
Maybe I could have taken the decision more slowly? What can I do better next time?
You step away from the noise and become the observer. Then it is much easier to see if there are actually some places You can improve or it was just one of those moments where You made the right decision but things did not go Your way.
There are times You can do all the research, make all the right decisions, look at all the aspects, and it still goes differently than You imagined.
What else can help?
Making sure You are properly bankrolled. Meaning the loss, You take does not have a big impact on Your business. This percentage You risk can be different depending on Your specific circumstance. Just be clear on what it is for You personally, then it is much easier to accept losing.
Meditation and contemplation. These are good regardless if You made the right or wrong decision. Because on occasion You can get lucky when making the wrong decision as well. And thinking You are the smartest and greatest investor then can lead to much suffering and many humbling experiences.
Like with most things it is best to take a balanced approach here as well.
If You happen to make money, evaluate if You made the right decision or did You just get lucky? And understand that it could have gone differently.
Know that life and the markets have cycles. They move up and down, sometimes sideways. You as an investor and a human being have to make the best of it. Sometimes You win, sometimes You lose. But You still have to carry on living Your life.
And neither winning or losing does not define You as a person. The only thing that can do that is the thoughts You think about Yourself.
PS! I’ve also decided to change the structure of the group a little. Instead of doing 5 days of content I’m now going to do 4. I’m merging the Truth About Money Thursday’s and Beliefs About Money Saturday’s. From this week onwards, I’m going to post on Monday, Tuesday, Wednesday, and Saturday.
Join the Mystical Money Machine group here: https://www.facebook.com/groups/532315657241148/