I see people making these mistakes time after time. The quicker you can cut the the quicker you’ll progress!
7492618 February, 2019
I get so many Emails, messages and calls about how to maintain a strong relationship, whilst also going through the emotional rollercoaster of trading. So here goes...
The following are five steps that have a good chance of keeping your relationship and trading back on a healthy road.
1. Commit to each other. Leave no doubt to your love and support. And that trading success has nothing to do with it. No matter what, you’ll survive.
2. Commit to honest, open communication. Tell each other what you need. There should be no guessing or mindreading. The trader might need more time to study or be uninterrupted by family issues. The spouse may need a commitment to more focus on family issues. This openness will reduce the fear factor that contaminates trading.
3. Create a new deal: This includes a timeframe in which some level of trading success needs to be met and, possibly, a new approach to the trading/investing endeavor (i.e. part time vs. full time). _
4. Discuss the amount of capital that will be committed or recommitted. Agree to the necessary account size and maximum drawdown.
5. Trader: Create your detailed trading plan. Share it with your spouse. Include a regular time for check-in and discussion. Both agree to it, sign it and put where you both have access to it. You are partners in this endeavor
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