Archives of “aspects of life” tag

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Just Be Yourself

  
  Education
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Success in all aspects of life seem to follow those who do not try to act like someone else, but rather have a foundation of knowing who they are and act in that manner.

Many traders seem to want to act like other traders who have recently had a string of successes instead of being committed to their own strategy and trading style.

To be the best we can and have consistent success in trading takes a devotion and passion to learning our strengths and weaknesses and applying our skills to match up with these understandings.

Whether you are a risk taker or very conservative, both styles can reap profits as long as the trading matches with that personality. Just be yourself and let the results take occur.

Stephen Covey: Small TRIBUTE

  
Education, Life
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Stephen Covey passed away,Leaves his 7-HABITS ever for all of us

Haven’t read the book yet? Here’s a summary of what he believes are the 7 Habits of Highly Effective People:

Habit 1 – be proactive®

This is the ability to control one’s environment, rather than have it control you, as is so often the case. Self determination, choice, and the power to decide response to stimulus, conditions and circumstances

Habit 2 – begin with the end in mind®

Covey calls this the habit of personal leadership – leading oneself that is, towards what you consider your aims. By developing the habit of concentrating on relevant activities you will build a platform to avoid distractions and become more productive and successful.

Habit 3 – put first things first®

Covey calls this the habit of personal management. This is about organising and implementing activities in line with the aims established in habit 2. Covey says that habit 2 is the first, or mental creation; habit 3 is the second, or physical creation.

Habit 4 – think win-win®

Covey calls this the habit of interpersonal leadership, necessary because achievements are largely dependent on co-operative efforts with others. He says that win-win is based on the assumption that there is plenty for everyone,and that success follows a co-operative approach more naturally than the confrontation of win-or-lose.

Habit 5 – seek first to understand and then to be understood®

One of the great maxims of the modern age. This is Covey’s habit of communication, and it’s extremely powerful. Covey helps to explain this in his simple analogy ‘diagnose before you prescribe’. Simple and effective, and essential for developing and maintaining positive relationships in all aspects of life.

Habit 6 – synergize®

Covey says this is the habit of creative co-operation – the principle that the whole is greater than the sum of its parts, which implicitly lays down the challenge to see the good and potential in the other person’s contribution.

Habit 7 – sharpen the saw®

This is the habit of self renewal, says Covey, and it necessarily surrounds all the other habits,enabling and encouraging them to happen and grow. Covey interprets the self into four parts: the spiritual, mental, physical and the social/emotional, which all need feeding and developing.

Focus on Being

  
  Education
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The one thing that is at the core of every person’s trading, no matter what tools are utilized, is a human being. The Professional Traders recognize that being is the start of the entire process, who they are as people, as traders. By focusing on yourself first and then on the rest, you address the core of your trading business. Just like every sports team looks up to its coach for direction or like a company looking up to its CEO for direction the results of your trading all begin and end with you as you are the captain of your own ship. It is you, the human being, making all the decisions about trading like what to trade, when to trade, what resources to use, what strategy to use, the knowledge you will acquire, who to listen to and so on. Professional Traders develop and maintain a very high quality of being. Being is more important than doing. If you are fatigued or stressed, your judgment can be impaired. If you are naive or ignorant you are more likely going to make mistakes. If you are anxious or scared you will not be able to think clearly as you would when relaxed. If you are emotional in trading you will see losses in your account. No matter what you do if you are not at 100% of what you should be you will not the results you wish for. (more…)

Power of Probabilities

  
  Education
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oddsAndProbabilities-thumbWinning, Losing, Money and Success are just a few of the many aspects of life that people use to determine the worth of others as well as themselves.

In reality, it is not these results, but how we respond to them that will make our journey one that we enjoy and desire to continue doing, or whether we quit.

As a trader, the understanding of probabilities and how to make them work for us instead of against us will provide great power for you as you move forward in your trading career.

To Be Happy

  
Education, Life
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be-happyIf you are after specific investment advice, stop reading now. We seek to explore one of Adam Smith’s obsessions: what it means to be happy. We also discuss why that’s important to investors, and how we can seek to improve our own levels of happiness. The list below shows our top ten suggestions for improving happiness.

  • Don’t equate happiness with money. People adapt to income shifts relatively quickly, the long lasting benefits are essentially zero.
  • Exercise regularly. Taking regular exercise generates further energy, and stimulates the mind and the body.
  • Have sex (preferably with someone you love). Sex is consistently rated as amongst the highest generators of happiness. So what are you waiting for?
  • Devote time and effort to close relationships. Close relationships require work and effort, but pay vast rewards in terms of happiness.
  • Pause for reflection, meditate on the good things in life. Simple reflection on the good aspects of life helps prevent hedonic adaptation.
  • Seek work that engages your skills, look to enjoy your job. It makes sense to do something you enjoy. This in turn is likely to allow you to flourish at your job, creating a pleasant feedback loop.
  • Give your body the sleep it needs.
  • Don’t pursue happiness for its own sake, enjoy the moment. Faulty perceptions of what makes you happy, may lead to the wrong pursuits. Additionally, activities may become a means to an end, rather than something to be enjoyed, defeating the purpose in the first place.
  • Take control of your life, set yourself achievable goals.
  • Remember to follow all the rules.

Winning and Losing are Both Part of the Power of Probabilities

  
  Education
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Winning, Losing, Money and Success are just a few of the many aspects of life that people use to determine the worth of others as well as themselves.

In reality, it is not these results, but how we respond to them that will make our journey one that we enjoy and desire to continue doing, or whether we quit.

As a trader, the understanding of probabilities and how to make them work for us instead of against us will provide great power for you as you move forward in your trading career.

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