Play the podcast:

The decisions we make in our trading, the behaviours which play out on a daily basis over time, and the states we are in all manifests themselves in our bottom-line trading results over time. We cannot escape who we are as traders, and who we are owes far more than we realise to our past relationships. Our relationships and experiences from a young age come to play a key role in the formation of our character and personality as we grow and mature. Some of these can be the foundation for healthy behaviours later in life, some of them can be the root of more toxic aspects which can manifest in our attitudes and actions at key junctures. This is particularly true of trading, where our actions thrust a bright light onto aspects of our personality and character.

We often think of personal relationships in terms of how we interact with people. However, one of the most important relationship which shapes us is our historical relationship with money.

In a recent episode of the AlphaMind podcast we explored this with professional money coach and former trader Dennis Harhalakis. Dennis spent more than two decades in bank trading rooms as a trader and salesperson. That sort of experience provides a well-rounded perspective on the issues people face in their trading which result from their relationship with money. 

In this fascinating episode we delved into how people’s trading and investing activities are impacted, positively and negatively, by their relationship with money and how that influences their decisions, behaviours and emotional reactions to events in the moment.

Dennis goes on to provides some practical advice for how people can start to improve their relationship with money and raises some interesting points about how our early-years’ experience around money impacts our current relationship with money. 

AlphaMind do not offer trading or investment advice and do not take responsibility for any investment or trading actions or decisions taken by clients or any observers of our material in any form of media, either now or in future.

Education feed

Editors’ Picks

EUR/USD bounces above 1.21 as the dollar gives ground

EUR/USD has been marching higher as falling US bond yields are dragging the dollar down. Tensions are mounting ahead of the Fed's all-important decision later this week. 

EUR/USD News

GBP/USD hovers above 1.4100 ahead of Johnson's reopening announcement

GBP/USD is trading marginally above 1.41. UK PM Johnson is set to allow a four-week delay to Britain's reopening. Brexit acrimony and dollar strength also weigh on the currency pair.

GBP/USD News

USD/JPY: Bulls targeting 110.00

USD/JPY is on the verge of a restest of the 110.00 level. Bulls have pierced the hourly resistance and broken 15-min structure. USD/JPY is on the way to the 110 area as the US dollar continues to firm following Friday's bullish perforace. 

USD/JPY News

Editors’ Picks

EUR/USD bounces above 1.21 as the dollar gives ground

EUR/USD has been marching higher as falling US bond yields are dragging the dollar down. Tensions are mounting ahead of the Fed's all-important decision later this week. 

EUR/USD News

GBP/USD hovers above 1.4100 ahead of Johnson's reopening announcement

GBP/USD is trading marginally above 1.41. UK PM Johnson is set to allow a four-week delay to Britain's reopening. Brexit acrimony and dollar strength also weigh on the currency pair.

GBP/USD News

XAU/USD slides below $1,850 level, fresh one-month lows

 Gold continued losing ground through the mid-European session and dropped to fresh one-month lows, below the $1,850 level in the last hour.

Gold News

Four reasons why XRP price could set new-all time high above $5

XRP price experienced a significant bull run as it rallied roughly 750% since 2021. However, due to the recent correction, Ripple’s year-to-date (YTD)

Read more

Fed balance sheet hits record high and equities follow suit

Another week another record high for stocks as equity markets power on. The theme of 2021 is back on track as yet another record high strengthens the series of records that 2021 has so far chalked up.

Read more

RECOMMENDED LESSONS

7 Ways to Avoid Forex Scams

The forex industry is recently seeing more and more scams. Here are 7 ways to avoid losing your money in such scams: Forex scams are becoming frequent. Michael Greenberg reports on luxurious expenses, including a submarine bought from the money taken from forex traders. Here’s another report of a forex fraud. So, how can we avoid falling in such forex scams?

What Are the 10 Fatal Mistakes Traders Make

Trading is exciting. Trading is hard. Trading is extremely hard. Some say that it takes more than 10,000 hours to master. Others believe that trading is the way to quick riches. They might be both wrong. What is important to know that no matter how experienced you are, mistakes will be part of the trading process.

Strategy

Money Management

Psychology