Financial Therapist: Erika Wasserman
Trading, Emotions, and the Wealth of Self-Awareness — with Financial Therapist Erika Wasserman
If you’ve ever felt your heart race faster than the market during a trade, this episode is for you. In this deeply honest conversation, I had the pleasure of sitting down with Erika Wasserman, a certified financial therapist, to unpack the emotional rollercoaster of day trading — from fear and loss to community, confidence, and redefining wealth.
The Mental Game of Trading
Trading isn’t just about charts, numbers, and execution — it’s a mirror that reflects our mindset back to us. Erika, who specializes in the intersection of money and emotion, explains how traders’ brains can play tricks on them with the “what ifs” — those anxious thoughts that spiral into fear-based decision-making.
“What if I never make that money back? What if the market crashes? What if my internet cuts out mid-trade?”
Her challenge? Flip the script. Instead of spiraling into worst-case scenarios, practice positive what-ifs: “What if I come back stronger next week? What if I learn something today that makes me a better trader tomorrow?”
That mindset shift — from fear to opportunity — lays the foundation for emotional balance in trading and beyond.
From Losses to Lessons
I have long said that I always prioritize “turning a loss day into a lesson day” as one of the most powerful mindset pivots in my trading journey. Instead of hiding from red days, I’ve learned to analyze them with curiosity, not shame. And channeled them to help improve my system, not take away from it.
Erika applauds that approach — but reminds traders not to overlook the wins. “Losses are lessons, yes — but so are the wins. Study your positive days, too. Those patterns can guide your next level of growth.” The goal isn’t just to fix mistakes — it’s to amplify what’s working.
Grounding Before the Bell
Day trading is high-energy, high-stakes, and often isolating. Erika stresses the importance of rituals to stabilize emotions and protect mental health. I shared the overview of my own morning routine — writing out a trade plan, listening to audio affirmations about abundance and focus, and taking a few moments of grounding breathwork before the session starts.
Erika calls that kind of self-awareness a “power pose for the mind.” Whether you literally stand tall with your hands on your hips or visualize wealth as more than money, it’s about owning your space before you open your charts.
“Wealth isn’t your daily P&L. It’s your life — your health, your family, your community, your knowledge. You start the day already wealthy.”
"What if you flipped your what-ifs? What if next week you come back like a badass?"
~ Erika Wasserman, Certified Financial Therapist
Finding (and Protecting) Your Trading Community
The conversation turned to something often left unspoken too often in trading: loneliness. Erika pointed out that isolation can amplify shame and lead to burnout or worse. I agreed wholeheartedly, as I have found it vital to build the right network of mentors, trading partners, and supportive communities online.
But not all communities are created equal. “If a trading group makes you trade more, feel FOMO, or engage in toxic talk — it’s not a community, it’s a liability.”
Finding spaces that value honesty, structure, and accountability can make the difference between surviving and thriving as a trader.
Knowing “Enough” — Both in Money and Mind
In the second half of the conversation, Erika asked the question few traders stop to consider: “How much is enough?”
In a world where every win becomes the new baseline, satisfaction can feel elusive. I admitted to moving my own goalposts — what started as a $200 daily goal became $1,200, then higher. I can certainly admit to moving my goalposts quicker than I ever anticipated. Erika identified that as the ego’s chase — the moving target that keeps us hustling for more instead of feeling fulfilled.
True wealth, she says, comes from knowing both your lower limits and your upper ones. “You know when to stop trading on a bad day. But do you know when to stop chasing on a good one?” That reframing hit home: success without peace isn’t success — it’s just another addiction to adrenaline.
Self-Sabotage and the Money Thermostat
As the episode rounded out, Market Mamas opened up about something many traders face but few admit — that risk of self-sabotage as you push to new heights. Sometimes, when we start breaking past old ceilings, we subconsciously pull ourselves back to our comfort zone. Erika validated that experience, describing it as a form of emotional homeostasis:
“We all have a money thermostat — a level of success we’re used to. If you exceed it without updating your beliefs, you’ll find ways to cool things back down.”
Her advice: recognize the pattern, seek support, and use reflection, therapy, or creative outlets to rewrite those inner limits.
The Gender Factor — Practicing Risk
The episode also tackled an empowering point about gender and risk-taking. Erika pointed out how girls and boys are socialized differently — boys are encouraged to climb higher, take risks, and bounce back from falls fast, while girls are often told to play it safe. Those early lessons carry over into adulthood and, yes, into trading.
But the fix isn’t about biology — it’s about practice.
“Risk-taking is like a muscle,” Erika said. “You build it by doing — by trying, failing, getting back up, and surrounding yourself with people who remind you that you can.”
And that’s a key emphasis at Market Mamas: women stepping into financial confidence, not because the path is easy, but because they’re brave enough to walk it together.
🔗 Connect with Erika:
👉 Website: https://yourfinancialtherapist.com/
👉 Instagram: https://www.instagram.com/yourfinancialtherapist/
👉 Amazon: https://www.amazon.com/stores/YourFinancialTherapist/page/FD6F8578-62D0-4668-B29A-0B3E1729B961?
Conversations with experts related to the financial or trading industries are so valuable for me to have, and hence are such a gift for me to be able to bring to the public in this way. I really enjoy learning together from like-minded professionals and extracting tactics and tips that can help us all level up maybe just a bit quicker! Thank you Erika for being my inspiring guest!!
If you find value too, please do like and subscribe to the podcast on whatever platform you caught this conversation on and let’s evolve together into the highest profitability!! And if you are considering being a guest on my podcast we well, reach out and let’s talk!! https://www.market-mamas.com/contact Take care and happy trading!