Coaches Corner - Dollar Threshold | Episode #6
January 27, 2013 at 5:52 PM (QQQ)(SPY)(DIA)(MDBX)(NFLX)
What Is A Dollar Threshold? How Can You Overcome It?
For a trader, the Dollar Threshold is a self imposed and quite often, subconscious glass ceiling we place above our income. Our earnings become limited because our thinking is limited. We have to identify exactly which "false belief" is controlling our purse strings.
We all have thoughts and feelings hidden deep in our subconscious. The easiest way to see what is in our subconscious is to look at our results. Our results are the most accurate reflection of the inner workings of our mind.
Over the course of our life and especially as impressionable children, we hear many comments about money and observe the money behavior of the people closest to us. Based on who we are surrounded by, these "thoughts and habits" may negatively influence our beliefs about money and over time they become buried deep in our subconscious. Our day-to-day experiences then validate these thoughts and beliefs as self fulfilling prophecies, seemingly true and accurate because they inhabit the very root of our belief system.
To change the relationship we have with money requires reprogramming our subconscious, replacing negative concepts that are inaccurate with positive thoughts and feelings that allow us the freedom to achieve our financial goals.
Are negative thoughts preventing you from earning the income you deserve? Do any of these sound familiar?
- Money is hard to make.
- I always run out of money.
- I have to lie, cheat and steal to make money.
- Money is the root of all evil.
- Money corrupts everyone.
- I am not worthy of making a lot of money.
- I don’t do this for the money.
- Money isn’t important to me.
- As long as I have my expenses covered I am happy.
- I don’t need much to live.
- It takes a long time to become rich.
- Money doesn’t grow on trees.
- I can't afford that.
This is only the tip of the iceberg, and some of these thoughts might even be appropriate in the proper context. Without realizing it, many traders believe they only deserve to earn a certain amount of money. Anything above or beyond that would be wrong, or cheating, or unfair to people who don't have the opportunity to earn as much. The amount of money one can earn from the market is quite literally - Unlimited. That, in and of itself, can be a very frightening thought that quickly points out just how unworthy we really are and based on our programming, will quickly identify what we really "deserve".
Look at your equity curve over the past 10 years. Where does it flatten out? Start by listening to today's broadcast with Robin (click the headphones above) and start to inventory your own thoughts and feelings about money. Remember, money is simply a tool, it is neither good nor evil. One thing is for certain, good deeds cost real money. Ministry costs money. Set yourself free from negative thoughts about money and you will find yourself in a financial position to help set others free from far more perilous prisons such as hunger, disease and poverty.
If you have questions on this topic drop Robin an email, or give her a call. www.RobinDayne.com
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Robin Dayne, money, trading coach 
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