Many wannabe traders have trouble following their trading plans when they are seemingly in conflict with their basic beliefs. While you may have intended to stay with a strategy having specific parameters for entering and exiting a trade, there are things that can cause you to abandon your plan when you are faced with the reality of a live market. Sometimes this happens because you question whether it is ethical to make money by trading, or if you should be trading at all. It’s possible that you hold a secret belief that it is somehow wrong to make money because you associate it with greed and corruption, or with gambling. Some people perceive a life with a minimum of money as being infinitely purer and more righteous because they misunderstand the teachings of scripture.
If you entertain any of these ideas, it is essential that you identify them and deal with them before they completely sabotage your trading efforts. Money in and of itself isn't evil, it’s the lust for money that is the problem. The truth is that money can be used for many “noble” causes, whether charitable or for simply supporting your family. For some traders, making a social contribution with their winnings allows them to feel more comfortable with the business of trading. In reminding yourself of the more “virtuous” motives for trading, you will feel more comfortable with it and be able to concentrate on honing your skills to become a profitable, disciplined trader.