Tuesday, May 20, 2008

Define Why You Want to Become a Trader

Motivational guru Tony Robbins teaches that the reason for doing something rates much higher than the methods you use to get the job done.

If you have the strong enough “why” to begin trading – then you will find a way to get the job done.

  • Ask yourself – Why do you want to become a trader?
  • Do you want to create a stream of “passive” income?
  • Do you want to create a security for yourself regardless of other sources of income?
  • Do you want to supplement your income so that you can afford some of the finer things in life, instead of living from paycheck to paycheck?

In his series “Rich Dad, Poor Dad” of books, Robert Kyosaki advises against anyone securing a part time job….instead you should start a part time business.

Profitable trading is the perfect part time business. It is capitalism's best kept secret. The market makes no distinction about your wealth, education level, ethnic background or any other aspect of your identity. Office politics, difficult bosses and tricky employees do not play a part in trading. You can trade from anywhere. Follow the few simple rules, and you can run your business as you see fit.

Trading is the "perfect business".

Of course, if trading successfully were easy, everyone would be reaping the profits. The truth is most people that trade will lose money. This is a fact for a number of reasons. Of all of them the primary cause of so many people losing money when trading is that they simply do not know how to trade.

If you do not know to trade, that does not mean that you are not smart. On the contrary, there are many highly intelligent people who lose millions of dollars in the market. If you do not know how to trade, there is usually a simple explanation: you do not have a coach or a system. Don’t let this deter you.

Most people never master trading because it seems difficult to win and they seldom have access to an experienced, successful trader or trading methodology that actually works. They usually go it alone or attend countless seminars and read even more books. Not that reading books is bad, but in most cases nearly everyone never reaps excellent results. How do I know this? I know because I have actually been there…..

Trading successfully is difficult if you do not know what you are doing. I can show you how to achieve trading success and shortcut your learning curve dramatically. This program will only work for you if you have a strong desire to succeed. It will require you to work a little. After a bit of practice, it will become easy.

You must be willing to drop any pre-conceived notions you have about trading, unlearn bad habits, and develop the discipline required to trade successfully and consistently. Are you willing to do this? Wonderful – now, you can realize your lifelong dreams.

Close your eyes and visualize what being a successful trader means to you; see yourself making trades and trading profitably. Feel the great and relaxed feelings of having extra money in your bank account. This visualization exercise will help you formulate a solid, worthy, personal goal and keep you motivated and focused through this e-book.

Your first assignment is to write out one primary goal for your trading plan!





Take that goal and write it on a 3 x 5 card and put it where you will see it when you wake up in the morning and before you go to sleep each night. If you really want to burn this goal into your subconscious mind you should read it aloud once each morning and evening.

This technique really works. It is not “corny”. This is a key technique Napoleon Hill teaches in “Think and Grow Rich”; the class success book teaches how to turn your thoughts into riches.

All of the techniques in the rest of this program will have MAXIMUM impact if you know exactly why you want to take the necessary actions each and every day. So do you have your goal clearly stated and written down? EXCELLENT!

Let’s get your subconscious mind right.

MUST DO ACTION STEPS:

  1. Write out one primary goal you want to accomplish by sticking to this plan.

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