Archives of “January 8, 2019” day

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Stress management

  
  Education
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A lecturer, when explaining stress management to an audience, raised a glass of water and asked,

“How heavy is this glass of water?” Answers called out ranged from 20g to 500g. The lecturer replied,

“The absolute weight doesn’t matter. It depends on how long you try to hold it. If I hold it for a minute, that’s not a problem. If I hold it for an hour, I’ll have an ache in my right arm. If I hold it for a day, you’ll have to call an ambulance.”

“In each case, it’s the same weight, but the longer I hold it, the heavier it becomes.” He continued,

“And that’s the way it is with stress management. If we carry our burdens all the time, sooner or later, as the burden becomes increasingly heavy, we won’t be able to carry on.”

“As with the glass of water, you have to put it down for a while and rest before holding it again. When we’re refreshed, we can carry on with the burden.”

“So, before you return home tonight, put the burden of work down. Don’t carry it home. You can pick it up tomorrow.”

“Whatever burdens you’re carrying now, let them down for a moment if you can. Relax; pick them up later after you’ve rested.”

10 COMMANDMENTS FOR MAKING MONEY

  
  Education
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1.  BELIEVE IN THE DIGNITY AND MORALITY OF BUSINESS:  Making money is much harder if, deep down, you suspect it to be a morally reprehensible activity. 

2.  EXTEND THE NETWORK OF YOUR CONNECTEDNESS TO MANY PEOPLE:  Befriend many people who are a rung or two above and below your financial level, then find ways to help them achieve their desires.  You will have discovered the secret of Partnership Power. 

3.  GET TO KNOW YOURSELF:  To change the way others see you, first you have to learn to see yourself as others see you. 

4.  DO NOT PURSUE PERFECTION:  Neither neglect the imperfect nor expend yourself on futile pursuit of perfection, while failing to make the most of less perfect circumstnaces. 

5.  LEAD CONSISTENTLY AND CONSTANTLY:  Learning to lead is important, but it may not be what you think it is.  Leadership is not a noun; it is a verb.  It is not an identity; it is an action.  Don’t try to become a leader, just do it. Just lead.

6.  CONSTANTLY CHANGE THE CHANGEABLE WHILE STEADFASTLY CLINGING TO THE UNCHANGEABLE:  Convert change from enemy to ally by understanding when to enjoy the exhilaration of change and and when to fight it and steadfastly defend the unchangeable. 

7.  LEARN TO FORETELL THE FUTURE:  Who is wise? One who can tell what will be hatched from an egg that has been laid. Not he who can see the future-that is a prophet.  Wisdom is seeing tomorrow’s consequences of today’s events. 

8.  KNOW YOUR MONEY:  Your money is a quantifiable analog for your life force-the aggregate of your time, skills, experience, persistance, and relationships.

9.  ACT RICH: GIVE AWAY 10 PERCENT OF YOUR AFTER TAX INCOME:  Through the mystical alchemy of money, giving charity jump-starts wealth creation. 

10.  NEVER RETIRE:  Integrate your vocation and your identity by thinking of life as a journey rather than a destination. 

If you have not figured it out yet you soon will: learning to trade inside the charts finds its firm foundation outside the charts.  It is all in the way you think and in what you believe about money and wealth creation. 

Most Important Qualifications for a Successful Trader

  
  Education
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qualifications1I believe that one of the most important qualifications for a successful trader is “POISE”, which to me is defined as stability, a well balanced person with dignity of manner – as it relates to the stock market.
A poised person is a person who can handle their hopes and their fears in a calm manner.

The other qualification is “PATIENCE” to wait for the opportune time, when as many factors as possible are positioned in the traders favor.
Poise and patience are the close friends of successful traders.

The final qualification is “SILENT”. Keep your own silent counsel – keep your victories and your failures to yourself – learn from them both.

Poise, patience and silence are attributes that must be cultivated.
These virtues do not come automatically to the stock market trader.

Essential Qualities of the Speculator

  
  Education
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1. Self-Reliance. A man must think for himself,
must follow his own convictions. George
MacDonald says: “A man cannot have another
man’s ideas any more than he can another
man’s soul or another man’s body.” Self-trust
is the foundation of successful effort.

2. Judgment. That equipoise, that nice
adjustment of the faculties one to the other,
which is called good judgment, is an essential
to the speculator.

3. Courage. That is, confidence to act on the
decisions of the mind. In speculation there is
value in Mirabeau’s dictum: “Be bold, still be
bold; always be bold.” (more…)

Here's The Legendary Interview Where Martin Zweig Calls The 1987 Crash 3 Days Before It Happened

  
Education, Video
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According to Bloomberg, famous stock market pundit Martin Zweig has passed away.

Zweig (who was either 70 or 71) was a technical analyst, newsletter writer, and money manager, who famously called the crash of 1987 3 days before it happened.

In an interview on Louis Rukeyser’s Wall Street Week on October 16, 1987, Zweig predicted a short violent drop in the market that would be reminiscent of 1929.

Here’s the video. The whole thing is worth watching, but Zweig starts his call at the 6:44 mark.

How can you enhance perceived self efficacy

  
  Education
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Self efficacy is built through four processes:
Mastery experience
Role modelling
verbal persuasion
psychological cues.
These four are in order of importance. Most critical way to build self efficacy is through a mastery experience.

Mastery experience is basically a successful experience of mastering a task. Mastery experiences happen when the learner has reached the point where they understand the content knowledge enough to perform a task on their own or masters the task. It happens if the learner goes in to sufficient depth on material he trying to learn. It happens as a result of immersion in a particular field or task. It happens with plenty of prior exposure to the content.

At some stage the learners are able to interpret the results of their actions and use those results to develop their own capability to engage in future actions or tasks. Then the learner become auto learners. They are able to participate in tasks on a first hand basis with little or no assistance from outside influences. When you experience a intense mastery experience you get a feedback on your own capabilities. Long and sustained efforts are required for mastery experience.  (more…)
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