Monday, July 31, 2006

Make A Choice – You Can Choose to be Rich

Simple Secret #2: Make A Choice – You Can Choose to be Rich


Robert Kiyosaki, author of Rich Dad Poor Dad – USA Today’s #1 best seller, is an investor, entrepreneur and educator. He is one of my highly respected gurus who had enlightened me about the way we think about money, wealth and success.

In his Wealth Creation program – You Can Choose to be Rich, which reveals his Rich Dad’s 3-step Guide to Wealth, Robert said that “Life is about choice. When you were young, choices were made for you. As you grew and matured, you learned to make your own choices, a slow, steady process fraught with both joy and frustration. Now it’s time to make one of the most critical decisions of your life: whether to take control of your life or to be controlled by some others. Why critical? Because if you take control of your life, it will empower you to shape a new life for yourself. My Rich Dad always said, ‘All of us have the power of choice. I choose to be rich, and I make that choice every day.’”

Now, have you made up your mind to be rich? Are you really serious? Are you ready? Ask yourself truthfully. Bear in mind that nothing is free in this world, including this free program for you, you still need to take your time and some effort to send in your request, read the emails and take actions, right?


Change your mind, change your life


The times are changing rapidly, and if you want to be rich, your approach to wealth creation and success will have to change, too. You have to start changing the way you have been so used to think, learn and do. Change your mind, and it will change your life! What you think will become your reality!

You might be thinking that: I, too, have the passion to get rich, but how do I actually do it? Honestly speaking, getting rich isn’t just a matter of luck, or inheritance, or having a brilliant idea. People who inherit wealth, and the few who win it by way of the lottery, assume the burden of watching over their new-found riches for fear that they lose them. As for brilliant ideas, they’re nothing but dead ideas without a thriving business system to give them life. More than anything, getting rich is a matter of confidence – of changing your thinking from “I can’t” to “How can I?” Once you commit to this way of thinking, you’ll be on your way.

Remember, you won’t get rich – you’ll choose to be rich!

Monday, July 24, 2006

Take 100% Responsibility for Your Life

Simple Secret #1: Take 100% Responsibility for Your Life

Jack Canfield, co-creator of best selling “Chicken Soup for the Soul” series, has made this the No. 1 Success Principle of Life – “Take 100% Responsibility for Your Life”. The real truth is that there is only one person responsible for the quality of the life you live, that person is YOU! (http://www.thesuccessprinciples.com)


If you want to be successful or to become rich, you have to take 100% responsibility for everything that you do or experience in your life. Don’t blame your parents, your bosses, your company, your friends, your partners, your clients, your spouse, the economy, or your lack of money – anyone or anything you can pin the blame on. Unfortunately, most people never want to look at where the real problem is – OURSELVES!


You have to give up all your excuses


So, having the right mindset is critical in creating your wealth and being successful. In reality, most of us have been conditioned to blame something outside of ourselves for the parts of our life we don’t like. We have to give up all our excuses, our blaming, and our complaining. 99% of all failures come from people who have a habit of making excuses. If you want to create the life of your dreams, then you are going to have to give up all your excuses, all your victim stories, all the reasons why you can’t and why you haven’t up until now, and all your blaming of outside circumstances. You have to give them all up FOREVER!


It’s simple, but isn’t necessarily easy


The bottom line is that you are the one who is creating your life the way it is. The life you currently live is the result of all of your past thoughts and actions. You are in charge of your current thoughts and your present feelings. You are in charge of what you say and what you do. Every action is under your control. To be more successful, all you have to do is act in ways that produce more of what you want. That’s it. It’s SIMPLE!

Though this principle is simple, it is not necessarily easy to implement. It requires concentrated awareness, dedicated discipline, and a willingness to experiment and take risks. You have to pay attention to what you are doing and to the results you are producing. You have to ask yourself, your family, your friends, your colleagues, your managers, your coaches and your clients for feedback:


“Is what I’m doing working?”

“Am I getting what I want?”

“Could I be doing it better?”

“Is there something more I should be doing that I am not?”

“Is there something I am doing that I should stop doing?”

“How do you see me limiting myself?”


Only you can make it happen


The success principle or formula is simple, but no one else can do it for you, only you can do it. So start paying attention to what is or isn’t working for you after all these years. Look around at your life and the people in it. Are you happy? Are you getting what you want? Is your net worth increasing? Are you getting better in all areas of your life? If not, then something needs to happen, and ONLY YOU can make it happen!

Listen to a short briefing by Jack Canfield on the success principle. Click on this audio link now and wait a few moments for it to start playing:


Windows Media - http://www.thesuccessprinciples.com/media/JC_audio_1.wma

Real Player - http://www.thesuccessprinciples.com/media/JC_audio_1.ram


In conclusion, taking 100% responsibility is what successful and rich people do. And it’s the first step YOU must take on your new Success and Wealth Creation journey.

Monday, July 03, 2006

"7 Big Trading Mistakes"

The following is a list of things you want to avoid at all costs. Anyone of them can literally destroy your financial dreams and goals!

1. Trading with money you can't afford to lose

One of the greatest obstacles to successful trading is using money that you really can't afford to lose. Examples of this would be money that is supposed to be used to pay the mortgage, bills or your child's college tuition. This is sometimes referred to as "trading with scared money" and there is a very good reason for that. Ultimately what happens is that when someone knows in the back of their mind that they are risking the borrow money, they trade out of fear and emotion versus logic and no emotion. If you are in this situation we highly recommend that you stop trading until you earn enough to put into an account that you truly can afford to lose without causing major financial setbacks.

2. The need to be "certain"

We all have the need to make sure that the trade we want to make is going to be a good one. Therefore we look for signs that will give us a confirmation to enter. This can come in several forms, for example… Tuning into any Busniess Channel or the Newspapers to give us news that our script is on the move or waiting for a couple of extra days to make sure that the script is really flying and just not on a false breakout. Other traders will get opinions from friends, family or broker. Others will wait for ten technical indicators to line up and give the "green light".

All of these are okay to a point, however the big mistake to avoid is taking so much time that you let the trade take off without you. Interestingly, what ends up happening as a result of waiting too long is that you actually increase your risk. This is because as a script moves higher and higher there are fewer buyers left in the market and it can come tumbling down until more buyers step in. It is like a game of musical chairs; eventually someone gets caught without a chair.

Traders who wait and wait and wait to make extra sure are usually the ones buying the top tick just before the stocks sells off. They then beat themselves up thinking they picked the wrong script.

The thing to keep in mind is that there can be no absolute certainty in any given trade. All we ever can do is take a very educated risk along with a leap of faith!


3. Words that will kill you! HOPE---WISH---PRAY

If you ever find yourself doing one or more of the above while in a trade then you are in big trouble! As We have already said, the market doesn't give a damn. All the hoping, wishing and praying in the world is not going to turn a losing trade into a winning one. When you are wrong just use a simple 4-letter word to correct the situation-SELL!

4. Not Acting on your plan

A big source of trouble arises when a trader starts to deviate from their strategy. Maybe for a week they will trade according to one set of rules and the next use something entirely different. You must never deviate from your methodology once you start. As long as it is a good one statistically there is absolutely no reason to change it. The way to make money from it is to trade it over and over again to exploit the edge it gives you.

5. Not knowing how to get out of a losing trade


It's amazing how many people we have talked to who don't have any clear escape plan for getting out of a bad trade. Once again they hope, pray wish and rationalize their position. As we keep saying the market does not care what you think. It does what it does and when you are wrong you are wrong!
The easiest way to keep a bad trade from going really bad is to determine before you get in, where you will get out.

6. Having an ego

We have seen a number of individuals enter the trading game that were extremely successful in other business ventures. Because of this they had a fairly big ego and thought they couldn't fail. Their egos became their downfall because they couldn't except that they were wrong and refused to bail out of bad trades.

Once again, whoever or wherever you came from does not concern the markets. All the charm, powers of persuasion, number of diplomas or business savvy will not budge the market when you are wrong.

7. Falling in love with a sector or script

Numbers of people are always involved with a particular sector or a script. And they are of the view that this sector or script always proves Lucky for them. And they love trading in that script without managing any risk. They are so much confidant that their every trade in that particular script will always result in to a winning or successful trade. But …………

To avoid the situation after but…, never fall in love with a particular sector or stock, It can cost you dearly!

Disclaimer:


Trading in Stock Exchange is not suitable for everyone. Past Performance is not indicative of Future Result.

Click here for more info

Sunday, July 02, 2006

A Life between Jobs

I admire the courage of those who dare to quit before finding another job. Sometimes, it is good not to go with the mess, but to be a contrarian in certain matters.

If one knows what he or she wants at the end of the day, that should be the comforting point. There are many times where we do not even know what we want in our lives.

Do you exactly know what you really want in your life? I doubt many can answer this question.


A Life Between Jobs
By ANNA BAHNEY
Published: June 8, 2006

visit her blog