us stock market, trend trading stock

The last two weeks I wrote articles on money and it has amazed me the nerves they touched. In response to last weekend's article, I received the following email:

" I urge Bill Craft [sic] to read Francisco D'Anconia's "Money Speech" in Atlas Shrugged before he says anything further about money. That speech is the definitive answer to anyone who says anything about money and evil. Anyone unfamiliar with that speech simply doesn't know the subject at all."
Name Withheld

I'm sure it will surprise the author of that letter to know that I, indeed, have read Atlas Shrugged and the "money speech" to which he refers. The "money speech" is the classic description of money as a tool of exchange. It is classic capitalism and I am a capitalist. The speech begins with the line: "So you think the money is the root of all evil?" Ayn Rand, in authoring the speech then explains that money is an important tool that is not essentially evil. Later in the same lengthy speech, Rand continues writing: "Or did you say it's the love of money that's the root of all evil? To love a thing is to know and love its nature. To love money is to know and love the fact that money is the creation of the best power within you..." That latter pronouncement seems in direct conflict with the Bible which states: "For the love of money is the root of all evil...." (1Timothy 6:10).

The fact is I agree with much of what Rand wrote, but when it is a choice between the author of a novel and the Bible ....you decide.

The point I really want to make is the passion that even the subject of money evokes. The author of last weeks letter pronounces that the speech in Atlas Shrugged is "...the DEFINITIVE answer to anyone who says anything about money and evil." [emphasis supplied] I am not sure who appointed him to decide what is or is not definitive, but it is clear that he is passionate in his *feelings* about money. He even wants to take away my right to free speech unless I read (and evidently agree) with the money speech, urging me to read the speech before I say anything else about money. Wow, what strength of feeling. The author of that letter has unequivocally proven the emotion that can attach to the subject of money. I do not doubt his sincerity for an instant.

If the subject of money ignites such passion, imagine what trading with real money can do. Just the discussion brings emotions to a boiling point in some. If we are trading money, can you see how greed and fear can influence the process. After all, they are emotions that are attached to the issues of acquiring and losing money. All I want you to do is be aware that emotions about money can influence your trading to your distinct detriment. I know it; I have seen it happen. All of us want to strive to see that it does not happen to us in our own trading. I could not agree more that money is really nothing more than a valuable medium of exchange, but convincing oneself of that during the heat of trading is a hurdle many unsuccessful traders must overcome.

Good Trading!
Bill Kraft

Mr. Kraft's past articles are posted on our website for your review.

---