Saturday, October 10, 2009

Marketwise Mental Edge Newsletter - Trading Psychology

Marketwise Mental Edge Newsletter - Trading Psychology

Innerworth and Dr Michael have developed a new platform service online.

Check it out, even if its for th psychology newsletter. Brilliant

Trading without properly knowing your psychological profile is self sabotage

Cheers
Brian

Wednesday, December 5, 2007

Traders Discipline and Will Power

Today’s article from Innerworth gives us some insight into traders’ discipline and our ability to maintain it. Don’t underestimate your self beliefs and the power they over you. It’s like swimming with or against the tide. Swim with it, you are generally less stressed and your bound to move further more quickly. Don't lose hope as you can also change your beliefs about your discipline to follow through and succeed.

Please enjoy

Cheers

Brian

www.EducatedWealthSolutions.com

Wealth Education for Life


One of the biggest challenges of novice traders is sticking with their trading plans. Rather than show self-control, many traders abandon trading plans prematurely. There are various factors that may influence traders' abilities to remain disciplined, but one set of factors concerns beliefs and attitudes about willpower.

What are your beliefs about willpower? Do you believe that a person's ability to show self-control is limited or do you believe it's possible to increase your ability to show greater self-control when necessary? In other words, do you believe that willpower is fixed and limited or malleable and unlimited? A recent study by researchers Anirban Mukhopadhyay and Gita Johar (2005) illustrates that beliefs about willpower influence people's ability to follow through on their plans.

Study participants were classified as believing that willpower was either malleable or limited. Participants made plans for achieving a specific goal, and researchers followed them over time to see if they actually stuck with their plans and achieved their goals. Results of the study suggested that people's beliefs about willpower predicted whether or not they stuck with their plans. People who believed that willpower was changeable and unlimited tended to stick with their plans and achieved their goals. People who believed that willpower was something that people were born with, limited, and unchangeable tended to give up on their plans. An interesting aspect of this study concerned people's beliefs in their abilities. People who believed that they had a high level of ability, in that they thought they could easily achieve their goals, tended to stick with their plans until they gained success, regardless of whether they believed that willpower was malleable or fixed. This finding suggests that it doesn't matter what you believe regarding your willpower if the goal you're striving for is easy to achieve.

These findings have a direct bearing on novice traders' ability to stick with their trading plans. Novice traders who believe that their ability to exhibit self-control is limited, and question their general trading ability, will abandon their trading plans. Novice traders who believe that their ability to exhibit willpower is endless will stick with their plans, even though they may question their trading ability. So, if you are a novice trader, it is essential that you monitor your beliefs about your willpower. If you believe that you can't show willpower and self-control, and that it is something you are born with that you can't possibly change, then it will be difficult to stay disciplined.

Although it may be difficult to maintain discipline, it may be easier than you think it is. If you can change your beliefs about your ability to stay disciplined, you'll increase your odds of sticking with your trading plan. Don't underestimate your ability to stay disciplined. You can stay disciplined if you try, and when you stay disciplined, you'll trade decisively and profitably.

Monday, December 3, 2007

Gratitude

I always believe in being grateful. There are just soooo many benefits, not only to yourself, but to those around you as well.

Here is an article written by one of my early mentors Kim Reilly on the the subject of gratitude. Again we look at servicing our millionaire mindset and exercising our emotional intelligence muscle.

Please enjoy.
Cheers
Brian

You are no doubt aware by personal experience, it is impossible to create something from the formless without first creating the vision in your mind. In doing this you set the wheels of creation in motion. All that remains is for its delivery to you.

I will use the analogy of the internet to explain how GRATITUDE fits in to this process. Gratitude is like your internet connection. If you want to download something from the formless, or the internet, you must have a solid connection. Any breaks or disturbances in that connection will result in a failed transmission. Well the same is true of gratitude.

Gratitude keeps you ‘connected’ to the formless intelligence which is about to deliver your request. Gratitude also ensures that you rise above any competition and maintain your faith and purpose. This is critical to your success and it requires some thought and contemplation.
It is easy to be grateful after the event. Real GRATITUDE is not simply paying lip service to thanking something, or something. The words ‘Thank you’ are so overused in our society that they have become meaningless. Have you ever counted the amount of times two people say ‘thank you’ during an ‘Eftpos’ or electronic payment transaction. You hand over the goods and the attendant says ‘thank you’, you then hand them your card and once again, ‘thank you’.

They process your card and hand you a receipt, you respond, ‘thank you’. They hand you a pen to sign with and you say ‘thank you.’ You sign the paper and hand it back, they say ‘thank you.’ They put your goods in the bag and hand them to you saying yet again ‘thank you.’ You feel awkward if you don’t respond, so another ‘thank you’ is necessary before you can leave the building. A total of 7 ‘thank you’s’ accompany every transaction you do so if you average 4 purchases a day, its no wonder ‘thank you’ is meaningless.

Gratitude, on the other hand is seldom apparent. Most of my life was spent moaning and complaining about how bad the country was and how bad the government was and essentially how bad everything was. Until I began traveling through Asia . I began to realize that things were not so bad at home, and that I was really grateful to be who I am, living where I live and doing all the things I was doing. This is the rock upon which most become shipwrecked. For gratitude to truly work, it must be truly given. I must also be evident before any events take place. The mind which is constantly focused on gratitude is the mind which is drawing closer and closer to the formless intelligence.

To let your thoughts wander to those of lack or of poverty or hardship, is to undo any creative work you have done. This was another crystal clear realization for me to discover that not only had I not been patient, and invested the required time doing what was necessary, at the first sign that something was not going to plan, I would react by blaming someone or something else for it. Not once did I consider the possibility that what I thought should happen, may not necessarily be the most effective, or productive way for the natural order of things to work.

Every event is perfect in and of itself. This is not to say you must give all you power over to fate. You always have a choice. That is to say that although you have an outcome in mind, you may not necessarily be aware of the most expeditious or beneficial way to see it through. For me, it seemed as though the more clarity I would get on an event, an the more rehearsed and definite I saw it, the more times it would fail in a completely perfect manner. That was until I was able to step back and look at the ‘big picture’.

This way of thinking was illustrated to me during my time as a navigator at sea. For a ship to successfully transit from one port to another, it is essential that a plan be drawn out onto the relevant charts. To begin this ‘passage plan’ I would start with a chart that preferably showed both the destination and the port of origin. To this chart I would apply a ‘mean’ line of approach, to give me a basic calculation of course, speed etc. Once this line had been created I could then transfer the ‘mean’ line to the larger scale charts. These charts would only show a portion of the journey, although they give a much clearer representation of any impending dangers, or things to be avoided, which are not apparent on the large chart. Sometimes, a detour of several miles may be necessary to avoid a reef or a shipwreck or some other hazard.

By looking at the big picture alone, these minor course alterations seem wasteful and even useless, yet they are vital for a safe passage. On the other hand, looking at each chart individually, the destination is not always apparent.

In a sense navigating at sea, is much the same as the processes which I am discussing here. It is vital to have a ‘big picture’ which contains both where you are, and where you want to go. During the voyage, however, things happen which at the time seem senseless or even wrong. At these times, more than ever, you must rely on Gratitude, Faith and Purpose, that your plan is definite, your ship is sound, and every day you are closing the gap between you and your destination.

Gratitude is the only method by which faith can be borne. In constantly fixing your mind on the formless with gratitude for what you have not yet received, you guarantee it will come to you, or you will arrive at it. Everything in your world has been brought to you in exactly the way you have asked for it. This may challenge your beliefs, or even cause you to become angry or frustrated. This is the regression of which I speak. The moment your mind is allowed to look on things as less than perfect is the moment all creation is brought to a halt.

Don’t concern yourself with the misery of others or their wrong doings or shortfalls. See your world as constantly expanding and experiencing more life. The life force has worked long and hard to bring humanity to the stage it is at and it is perfect. Like our passage plan, sometimes it may not look or feel how we would like it to, yet the infinite intelligence, which is in all and works through all, has a script with which you are playing the lead role. Put your unwavering Faith in the Director and fix your mind in constant Gratitude that you have been chosen to deliver the star performance. This is the source of all power.

Moving Forward With Thea Westra


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She holds several degrees in the field of education, has studied countless personal growth videos/audios/books, plus participated in and contributed to, many self-development programs over 17 years.

Thea opened the doors to her coaching business in 2002, working with clients locally and internationally. She now uses the internet as her preferred medium for contributing to you. As a result of this redirection, she has renamed the "What does Thea do?" element of Forward Steps to that of "Forward Steps Maven", and removing her one-to-one coaching service.

Regardless of professional endeavour or place in life, all Forward Steps site visitors and subscribers have one thing in common: they are all successful, resourceful, and intelligent individuals who want to get even more out of their lives.

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No matter what our endeavour or goals, we need to keep moving forward. Not much happens when you are at a standstill. It's even extremely difficult to change course when you are standing still!

We are always learning and experiencing new things. Of course, things will still come at us, when we are standing still. However, we have much more power in determining our future when we are the ones taking very deliberate and personally chosen forward steps, towards our intended target.

"If we are facing in the right direction, all we have to do is keep on walking"...Buddhist Proverb

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Extra links


http://www.forwardsteps.com.au, http://www.ask-thea-about.com, http://bestezines.com/?Triggers&id=1417
http://www.forwardsteps.com.au/FSBlogs.htm
http://freemoneyebook.com/dlthea.html





Monday, November 26, 2007

Trading With Discipline

Todays article is very relevant to all aspiring traders. A key aspect often missed is trading a strategy that suits your risk profile that sits comfortably with your own investing personality. Match it well and the degree of discipline increases.

Please enjoy the article below.

If your looking for stock market strategies in wealth creation, then we have 10 in our homestudy wealth program. see here - www.EducatedWealthSolutions.com/homestudy.asp and check it out

Disciplined trading is vital for lasting success. Profitable trading requires a combination of skill and odds. The winning trader implements proven trading strategies over and over, so that across a series of trades, the law of averages works in his or her favor. Unless you make trades, you have no chance of winning. It's just like in sports. Unless you step up to the plate, you cannot hit a home run. The more times you try, the more likely you will succeed. An important part of discipline is consistency. When a trader uses one approach one time, and a different approach at another time, performance is haphazard. It is essential to use a strategy consistently, following a specific trading plan on each and every single trade, so that across the series of trades, you will make an overall profit.

If you follow the plan sometimes and abandon it at other times, you throw off the probabilities, but many traders can't seem to stick with their plan. What precipitates a lapse in discipline? Many times, traders forget the consequences of not following a plan. They may suddenly see an opportunity to make a quick profit and decide to abandon risk limits. In another scenario, a trader may question his or her plan, and out of fear, abandon it. How can you make sure you stick with your trading plan? Many times, we forget why we need to follow a well-defined trading plan. A simple way to remember is to pull out an index card with the reasons and read it over and over again. You might write, "If I abandon my plan, I will lose in the long run." You may also list a few trades where you abandoned your plan and you regretted it. The images of the trade, along with the feelings of regret, will encourage you to stick with your plan. By putting the consequences of abandoning your plan right in front of you so that it is clearly in your awareness, you will be more likely to stick with your plan.

There are other reasons that trading plans are abandoned. One of the main reasons trading plans are abandoned is that they are not specified clearly enough. By specifying every aspect of a trading plan from how much you will risk to when you will enter and exit, you will have an easier time following your plan.

Another reason plans are abandoned concerns fear. When your money is on the line, it's natural to feel afraid. As much as you try to forget, it's hard not to worry about losing money. There are times when you may feel so panicked by the chaotic moves of the markets that you can't think clearly. You may feel agitated and on edge. A detailed trading plan, however, can help you stay calm during the storm of market action. The more clearly the plan is laid out, the easier it is to follow, especially when you are agitated and upset. And when the plan is easy to follow, it's likely that you'll stick with it. You'll be disciplined and in control of your emotions and thinking.

The difference between winning traders and unprofitable ones is the ability to muster unwavering self-control in response to chaotic, ever-changing markets. Trading is serious business. It's not a hobby, but many traders approach the endeavor as if it were recreational gambling. They don't develop a trading plan, and if they do, they tend to abandon it prematurely. Winning traders, however, are methodical. They carefully develop a trading plan, execute it, and stick with their plan. If you want to trade profitably, develop well-defined trading plans and follow them.

Article originally released by Innerworth

Saturday, September 15, 2007

7 Secrets of Millionaires

by Sandy Forster
Australia's Leading Prosperity Coach

Millionaires have certain guidelines they live by - that's one of the reasons they become Millionaires. If you haven’t created the wealth you desire, it can seem the Wealthy are privy to secrets you aren’t. The biggest secret is – you probably KNOW some of these so-called secrets already! You now need to APPLY them in your life, instead of just knowing them and you too can create your own Millions.

1. CONTINUE LEARNING To become a Millionaire, you must first create a Millionaire Mindset. Many Millionaires believe that your greatest asset is your knowledge. Your thoughts shape your future - choose your thoughts wisely. To realise your full potential, you need to continually be learning, discovering and educating yourself. Invest in your greatest asset by reading books, listening to audios and attending seminars constantly. By continuing your education beyond formal school years you will achieve more in life than you ever imagined. For dozens of free prosperity resources visit http://www.1shoppingcart.com/app/?af=654817

2. LIVE BELOW YOUR MEANS This may not be the hot tip you expected, but this secret will assist you toward Millionaire status no matter what your income. A quote from Bill Earle sums it up perfectly “If your outgo exceeds your income, then your upkeep will be your downfall”. The typical Millionaire spends less than he earns, and invests the difference. Millionaires prefer to sacrifice high consumption today to achieve financial freedom tomorrow and for a lifetime.

3. BUILD A BUSINESS AROUND WHAT YOU LOVE Most of the richest people in the world own one or more businesses. To create true wealth, you must involve yourself in your own business – preferably doing something you love. Millionaires get that way because they do what they love. They love what they do so much that it rarely feels like work – they put their heart into it and the money just flows. This is where the money is – you will never get rich working for someone else. Find something you love, something you’re passionate about, create a business around what you love and watch the money flow to you.

4. BE PERSISTANT On your way to creating your own millions, you will definitely face some minor and major obstacles. The secret is to overcome these obstacles and move on. Do not give up - be persistent. True long-term wealth is achieved only by striding over, under and through the obstacles along your path to riches. “The road to success leads through the valley of humility, down the path of patience and across the wide barren plains of perseverance. As yet, no short cut has been discovered”

5. LEVERAGE YOUR TIME AND MONEY Millionaires do not have the time nor the inclination to do everything themselves and when it comes to making millions they don’t just use their own money. If you want to be a Millionaire you have to know how to leverage. Millionaires hire the right people to do far more than they possibly could themselves. And they utilise other people’s money to invest in income-producing assets.

6. INVEST IN REAL ESTATE ”One thing the Rich uniformly have in common is that almost without exception – the Rich either made their Wealth in Real Estate or they keep their Wealth in Real Estate” stated world famous Real Estate Investor, Dr. Dolf de Roos. It’s never too late to begin your Real Estate Investing career – with the right education and support you will be able to create long term secure wealth to pass onto future generations. Real Estate investing is one of the best-known ways to create millions – even if you have NO money to begin with! For the best Real Estate investing education around, go to http://www.1shoppingcart.com/app/?af=6548177.

GIVE BACK Many Millionaires are generous with their time and money in helping others. This wasn’t something they began after they became rich, they were givers before, during and after they made their millions. In fact many Millionaires even have their own foundations. They donate a percentage of their wealth to a cause they believe in. The more you give, the more you will receive. Don’t hoard your wealth, share it with others and watch it multiply.

Millionaires dream big, create a strong desire to achieve those dreams and then take consistent action to see their dreams come true. Follow these guidelines and you too can be on the way to your first Million!

© 2004 Sandy Forster

ABOUT THE AUTHOR
Sandy Forster, Author of the International Bestseller How to Be Wildly Wealthy FAST, offers more exciting free resources, articles, tele-conferences, books and live events in the areas of prosperity, success and personal empowerment at http://www.1shoppingcart.com/app/?af=654817

NOTE
You’re welcome to reprint this article online and offline as long as it remains unaltered and complete (including the “about the author” info at the end), and you send a copy of your reprint to sandy@wildywealthy.com or P.O. Box 362, Mooloolaba. Queensland 4557 Australia

Added Homestudy Bonuses - Effective Immediately

Dear Everyone

I am writing to everyone as a special one off email to let you know of Jamie's latest enhanced bonuses on the homestudy. Starting immediately Jamie has extended the 2 year membership to 5 years.

To receive the full benefits of the homestudy, you must nominate which 4 day you are likely to attend within 30 days of enrolling for the homestudy.(You are able to change from one event to another at no cost). Seminars attract high expenditure so by designating a venue helps the organizers in preparing for the future.

The next event is on count down mode at the Milennium Hotel, Queenstown, New Zealand on the 29th June - 2nd July, 2007

You must attend the 4 day within 12 months of signing for the homestudy . If you nominate the seminar at point of sale or within 30 days and attend the 4 day within the 12 month period then you get 5 year membership including unlimited revisits to the 4 day and internet and business programs within that 5 years including email and forum access and support services.

PLUS
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ALSO
Another new bonus has also been added to the homestudy.
You can get access to select ASX listed shares at substantial discounts of market price creating instant profits and access investments usually only available to high net worth individuals. 6 months free subscription to 21st Century Investor Newsletter valued at $600.

With all these new added bonuses I see a real opportunity for you take advantage of the enhanced bonuses that can assist you in reaching your financial and lifestyle goals.

If you want to take up the offer, click here and order online at http://www.educatedwealthsolutions.com/homestudy.asp or reply to me and I will call you to place your order.

The program comes with a 100% 90 day money back guarantee. That's RISK FREE EDUCATION. What if the program was just half as good as we say it is. How much money will it cost you to not be doing these strategies!

Have a great day.

Kindest Regards
Brian