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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. 

Paul Counsel-Trading Wisdom

  
  Education
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Successful trading has absolutely nothing to do with making money and everything to do with trading successfully. Making money will only ever be a by-product of successful trading. Successful trading is not a by-product of making money. When you attach trading to money and money to emotions and emotions to money you’ll have taken your first loss but you won’t know it yet.

Trading has everything to do with personal psychology, rules, systems, discipline, focus and skill. Like anything else that’s skill based, once you start it takes time and practice to become skilful.Ultimately trading is about making decisions between two choices, to buy or sell. As simple as these two choices are the variables that effect the decisions surrounding them can be as complex as the human mind can make them.

As a trader your central focus should be on your system. You should know your system inside out, its strengths and weaknesses. Your system should be comprised of a set of rules that ultimately guide you in making either of two decisions, to buy or sell. You should be able to read your system with respect to market conditions and base your trading choices on what your system is telling you.

As a trader you must understand that you’re the weakest link in the system because the complexity will reside with you. Good systems are simple. They are nothing more than a series of instructions called trading rules. The primary thought that should be central in your mind is that it’s the system that makes the money, not you. The more skilled you become at reading market conditions and marrying these conditions to your system the better a trader you’ll be.

Wealth creation is an uncertain activity for most people and, to do something without certainty of outcome, takes courage. It takes courage to do what the majority is not doing. It takes courage to overcome scepticism and cynicism. It takes courage to deal with fear and overcome fear barriers.

Bill Gross Channels Michael Jackson In Latest Monthly Letter, Asks "What Makes A Great Investor?"

  
Analysis, Education
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From Bill Gross of PIMCO

I’m starting with the man in the mirror
I’m asking him to change his ways
And no message could have been any clearer
If you wanna make the world a better place
Take a look at yourself, and then make a…
Chaaaaaaaange ….. Must Read this………….!
— Michael Jackson
 
A Man in the Mirror
Am I a great investor? No, not yet. To paraphrase Ernest Hemingway’s “Jake” in The Sun Also Rises, “wouldn’t it be pretty to think so?” But the thinking so and the reality are often miles apart. When looking in the mirror, the average human sees a six-plus or a seven reflection on a scale of one to ten. The big nose or weak chin is masked by brighter eyes or near picture perfect teeth. And when the public is consulted, the vocal compliments as opposed to the near silent/ whispered critiques are taken as a supermajority vote for good looks. So it is with investing, or any career that is exposed to the public eye. The brickbats come via the blogs and ambitious competitors, but the roses dominate one’s mental and even physical scrapbook. In addition to hope, it is how we survive day-to-day. We look at the man or woman in the mirror and see an image that is as distorted from reality as the one in a circus fun zone. (more…)
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