You can make one simple decision which will probably increase your profits.
Spend between 5 and 10 percent of your monthly trading profits on charity.
What should you do it?
Reason 1. Because it will be easier for you to deal with a long series of losses.
When you spend money on charity you think about yourself as a generous person. You believe that you deserve good things and that after losses there will be much bigger profits.
Reason 2. Because it will be easier for you to take risky but profitable trades.
Do you think that spending money on charity is a stupid idea? Probably you believe that is hard to make money, especially on financial markets. I do not want to discuss if it is true or not because it can’t be proved. I just want to say that it is your subjective opinion which doesn’t support your trading.
Why? Because it is hard for you to take risky but profitable trades. You are worried that you will lose your money and it will be difficult to earn it back.
But I know from my experience that when you spend some money on charity then you automatically start believing that there is a lot of money on the market and it is not so hard to make profits. When you believe in that then it is easier for you to take risky but profitable trades and make money on market.
Reason 3. You will be more motivated to make us much money as you can.
Long time ago people used to live in small communities like tribes. If any person from that community would have made some unacceptable think like theft then he or she would have been expelled and would have probably died.
Now the times are different but we still prefer doing thinks which are good for society. So what can you do good for society? Make as much money on markets as you can! Why? Because you will spend more money on charity.
How spending money on charity may increase your profits? I will give you an example. You decided to spend 5% of your monthly profits on charity. Because of that you were more motivated, you took more risky but profitable trades and you followed your plan instead of your losses. In effect you trading was more efficient by 20 percent. 0,95*1,2= 1,14 which means that you made 14% more than if you would not have spent money on charity.