QUESTION: When does a person decide to become a stockbroker?
ANSWER: When he realizes he doesn’t have the charisma to succeed as an undertaker.
The tools you will use to create this new version of yourself (a successful trader) are your willingness and desire to learn, fueled by your passion to be successful… The medium for your artistic endeavor will be your mental environment… your ultimate goal is consistency…
This lack of fear translates into a carefree state of mind, similar to the state of mind many great athletes describe as a “zone.” If you’ve ever had the occasion to experience the zone in some sport, then you know it is a state of mind in which there is absolutely no fear and you act and react instinctively. You don’t weigh alternatives or consider consequences or second-guess yourself. You are in the moment and “just doing it.” Whatever you do turns out to be exactly what needed to be done. …a psychological zone is not a condition you can will yourself into…
That’s what the great athletes have: a winning attitude that allows them to easily move beyond their mistakes and keep going. Others get bogged down in negative self-criticism, regret, and self pity.
The Godfather, accompanied by his stockbroker, walks into a room to meet with his accountant. The Godfather asks the accountant, “Where’s the three million bucks you embezzled from me?”
The accountant doesn’t answer. The Godfather asks again, “Where’s the three million bucks you embezzled from me?”
The stockbroker interrupts, “Sir, the man is a deaf-mute and cannot understand you, but I can interpret for you.” The Godfather says, “Well, ask him where the @#!* money is.”
The stockbroker, using sign language, asks the accountant where the three million dollars is. The accountant signs back, “I don’t know what you’re talking about.” The stockbroker interprets to the Godfather, “He doesn’t know what you’re talking about.”
The Godfather pulls out a pistol, puts it to the temple of the accountant, cocks the trigger and says, “Ask him again where the @#!* money is!”
The stockbroker signs to the accountant, “He wants to know where it is!” The accountant signs back, “Okay! Okay! The money’s hidden in a suitcase behind the shed in my backyard!”
The Godfather says, “Well, what did he say?” The stockbroker interprets to the Godfather, “He says that you don’t have the guts to pull the trigger.”
Why are some people able to think creatively and others cannot? Creating new strategies for the forex is an art, not a science. It requires creative thinking. Let me share with you some of the things that may be blocking your path to creativity…
Trying to find the RIGHT answer. Formal education leads us to believe there is ONE right answer. In the forex, there are many right answers.
- Logical thinking. Real life is illogical. Think metaforically. A great philosopher, Mr. Spock, used to say, “Logic is like a flower that smells bad!”
- Following rules. You must go outside of the lines and break new ground to be creative.
- Being practical. Don’t allow editor in the same room as the inner artist.
- Play is not work. Success is not the key to happiness…. happiness is the key to success! The people who are the most creative and successful find that work IS play!
- It’s not my job. Everything is related. Creative persons are renaissance and they can bring all knowledge together. This is one of the reasons you need to educate yourself and give yourself a liberal arts education in your spare time. Public schools will teach you WHAT to think, specialized schools like Universities, Medical Schools, Law Schools, etc will teach you WHEN to think, but you need a liberal arts education immersed in the classics in order to know HOW to think.
- Being a serious person. Read The “Four agreements” to learn how to not take others seriously. Develop a sense of humor. Life is a journey… you need to be enjoying the journey.
- Avoiding ambiguity. Allow yourself to deal with blurry concepts and then you can slowly sharpen the vision.
- Being wrong is bad. Thomas Edison failed over a thousand times to invent a light bulb before he succeeded. Remember, FAIL your way to success!
- I’m not creative. We are all creative, we create our own limits by the way we think. Get out of the rut, go outside of the box, cross the lines and BEGIN thinking creatively. I can promise you, it is a lot of fun!
Bill Clinton was getting off Air Force One carrying a small puppy and the marine at the foot of the steps asked “What do you have there Mr. President?”
Bill replied I got a puppy for Hillary.
Marine says “Excellent trade Sir!
People who are hungrier tend to pay more attention to trading rules.
Happiness is found in being good at what you do.
Success is a formula, not a fantasy.
You need to find a mentor to be successful… (I am extremely pleased with all of my mentors at Market Traders Institute http://www.markettraders.com/landings/forexIQ/forexIQ.aspx?id=THEFOREXMOM(Blog))
We are not given dreams in this life, without being given the power to make them come true.
There are formula’s for everything in life, and we must abide by the formula to be successful.
It is important to get in touch with your emotions; otherwise, they can cause self destruction.
When I mentor people I like to begin by asking, “what is the problem, discipline, emotions, technique, or formula?”
Successful people will do what unsuccessful people can’t and won’t do!
Law of attraction – what we think about radiates out of our being and creates circumstances and events that align with what we think about. It also attracts similar people.
The mass of men lead lives of quiet desperation, Thoreaux, 1854.
Nothing great happens unless you start to dream… but focus on the formula not the fantasy.
We get what we deserve… We deserve what we get… We get what we expect.
A man (MAN) calls his fx dealer (DEALER) all anxious and out of breath with this urgency in his voice. He says,
MAN: Close all my positions, everything fast, right away.
The fx dealer tries to talk to the man but the man says,
MAN: Let me tell you a secret. You know I’ve been married for 6 years now and I’ve been your client for 5 years.
DEALER: Yes, go on, the FX dealer says.
MAN: Well. My wife has this thing about the market. Her grandparents lost it all in the GBP crash and ever since then her family found investing in the market akin to original sin. When we got married I promised her that I would follow in her parents footsteps and never venture in the FX market and always leave all our money under the mattress.
DEALER: Wow, I didn’t know that. I guess you want the money because you are losing.
MAN: No, I want the money because she ordered a new mattress and it is being delivered in two days.
The defining characteristic that separates the consistent winners from everyone else is this: The winners have attained a mind-set—a unique set of attitudes—that allows them to remain disciplined, focused, and, above all, confident in spite of the adverse conditions. As a result, they are no longer susceptible to the common fears and trading errors that plague everyone else.
Traders who make it beyond “the threshold of consistency” usually experience a great deal of pain (both emotional and financial) before they acquire the land of attitude that allows them to function effectively in the market environment.
The hard, cold reality of trading is that every trade has an uncertain outcome.
So, what is the solution? You will need to learn how to adjust your attitudes and beliefs about trading in such a way that you can trade without the slightest bit of fear, but at the same time keep a framework in place that does not allow you to become reckless.
John meets his buddy George and asks hims:
John: Do me a favour, could you lend me $100?
George checks in his wallet and his pockets, then replies:
George: Sorry, pal. I got only $50.
John: Only 50? Never mind. Give give me the 50 you have, and you owe me another $50.
A forex guru (GURU) walks into a pizzeria to order a pizza. There the waiter (WAITER) asks him: WAITER: Should I cut it into six pieces or eight pieces?
GURU: I’m feeling rather hungry right now. You’d better cut it into eight pieces.
When I was a little boy, my mom liked to make breakfast food for dinner every now and then. And I remember one night in particular when she had made breakfast after a long, hard day at work. On that evening so long ago, my mom placed a plate of eggs, sausage and extremely burned biscuits in front of my dad. I remember waiting to see if anyone noticed! Yet all my dad did was reach for his biscuit, smile at my mom and ask me how my day was at school. I don’t remember what I told him that night, but I do remember watching him smear butter and jelly on that biscuit and eat every bite!
When I got up from the table that evening, I remember hearing my mom apologize to my dad for burning the biscuits. And I’ll never forget what he said: “Baby, I love burned biscuits.”
Later that night, I went to kiss Daddy good night and I asked him if he
really liked his biscuits burned. He wrapped me in his arms and said,
“Your Momma put in a hard day at work today and she’s real tired. And besides – a little burnt biscuit never hurt anyone!”
You know, life is full of imperfect things…..and imperfect people. I’m
not the best housekeeper or cook. What I’ve learned over the years is
that learning to accept each other’s faults – and choosing to celebrate each other’s differences – is one of the most important keys to creating a healthy, growing, and lasting relationship.
“Don’t put the key to your happiness in someone else’s pocket – keep it in your own.”
“Too often we underestimate the power of a touch, a smile, a kind word, a listening ear, an honest compliment,or the smallest act of caring, all of which have the potential to turn a life around.”