Stocks & Mutual Fund Information |
|
Attitude Is [Almost] Everything
I often play a little game with myself when I have to go shopping; to the post office or on other errands. Sometimes I will just go about my business and make little comment or eye contact with the person serving me. Other times I will smile and talk to the person. Ask them how they are. Even make a joke! The difference is incredible. And it is amazing what affect it has on both them and me. If I take the effort to engage the person in a conversation and make eye contact - almost without exception their face lights up, they smile and are friendly back to me. And best of all, I feel much better. Instead of it being just a chore, it can make the whole experience more enjoyable. And the only difference is my attitude. Now what does this have to do with you trading the stock market? Well, I believe that in trading your success is almost completely determined by your attitude. If you don't believe me, play the game I just described. And then ask yourself, "If I can affect my experience so dramatically through a minor change of my attitude in one small area of my life, surely changing my attitude in my trading will have a similar effect." Just try it. Look at the stock market with a negative attitude [such as the market is out to get me!]. And then review the same information with the view that the market is a wonderful source of financial freedom. Do you notice a difference? Do you think the second view is more helpful? Do you think it might give you greater confidence and motivation? And less fear? Now don't get me wrong. I am not saying that positive thinking is all you need for success. Clearly you need the necessary skills and experience to achieve anything in any area of your life. But having the right attitude and beliefs is absolutely crucial. Because it is this that determines which actions you will take. And when. You see the reality is that, without a positive attitude, you cannot be come a successful trader. Period. No question. So give it a go. Have a look at your attitudes to the stock market and trading and see if they need review. What have you got to lose? Maybe just some limiting beliefs and attitudes that are restricting your success. And by the way - try my little game some time! Be nice to a cashier or a waiter or a bus driver and see what happens. Maybe even try it on someone close to you! You will be amazed. And so will they! David Chandler Ordinary People Making Extraordinary Profits! For free mini-course on stock and options trading click the following link: http://www.StockMarketGenie.com Or visit our blog at: http://stockmarketgenie.blogspot.com/ The above comments are offered for educational purposes only. We are not providing you with financial advice. We are simply sharing with you what has and hasn't worked for us personally. If you wish to trade or invest in the stock market you should obtain advice from a registered licensed advisor.
|
RELATED ARTICLES
Precision Money Management This article describes the model of a natural relationship between trading system performance, trade position size, stop loss settings and profit goals. The model consists of algebraic equations that specify the trade size and stop loss settings needed to meet profit goals over a specified time period for any consistently used trading system for which historical performance data is available. Good News? As the man said, "I've got some good news and I've got some bad news. What do you want to hear first?" It was replied, "Tell me the good news first". The good news is that they are going to make some changes in the mutual fund industry reporting to help the investor and the bad news is it isn't going to make any difference in your bottom line. Red, Green, Yellow - or - Stop, Go, Go Very Fast: Which Describes Your Online Trading? Ever notice how behavior in one area of life can apply to behavior in other areas of life? For example, I've noticed a number of things while driving that apply to online trading. One of them is regarding how people behave toward traffic signals. Size Counts! What the heck am I talking about? Chart Reading As an investor you will want to check out any equity before you buy it. Many investors go to Morningstar that is one of the largest providers of mutual fund information in the world. It is assumed that their information is correct. After all that is what you are paying for. Municipal Bonds Because there are so many stocks that are NOT paying dividends and also going down people are looking for a safe investment that will pay a decent return and also won't lose money. Slowly folks are beginning to think about bonds of which there are all kinds. The Inside Scoop on Mutual Fund Rip Offs The bear market that showed up at the end of 2000 has every brokerage house-as well as the entire mutual fund industry-scrambling to find creative ways to boost both their image and bottom line. Unfortunately, this is often at the investors' expense. Why Investors Use Financial Planners Do you have a financial planner? Does one of your friends have a financial planner? Maybe you take your advice from your broker. As I have said countless times before a broker will make you broker. And a financial planner won't do any better. I know. You thought they would. Evaluation II As I said in Part I everyone in the insane asylum looks normal, but at least the doctors are sane. Unfortunately, in the insane asylum known as the stock market all the doctors (brokers) are also insane. Buy Low - Sell High Now where have I heard that before? I know. It was my broker. Selling Strategies - Setting a Stop Loss Sometimes the best way of lowering exposure to risk is not to invest at all! However, when we make the decision to jump into the muddy waters of the stock market, its always a good idea to have a life jacket ready, just in case. Investment Capital Gains Have you bought any mutual funds this year or late last year while the market was doing its skyrocket thing? Last year it was hard to lose money. This year it has been easy. Play another Day Money management starts with protecting your capital, realizing profits and cutting losses. As I have stated in the past, without cash, you can't invest. Cash is king and learning to manage your money is the most important aspect to investing in stocks. The game is won by lowering your risk by properly turning the numbers in your favor. Cutting losses is the best insurance to keeping your cash. Planning Your Dive and Diving Your Plan ? Trading! A colleague of mine just returned from a scuba diving trip in Cozumel, which just happens to be one of my favorite places to dive. Anyway, she was telling me about an unexpected difficulty she encountered while swimming around the corral reef down about 85 feet. It wasn't anything serious but her story reminded me of something my scuba instructor used to say over and over again. "Plan your dive, and dive your plan". The 10 Commandments Wall Street has been preaching for years and years to investors how and where to put their money. The "experts" have put forth these ideas for so long that they seem to be carved in stone just like Moses did with God's 10 Commandments. The only difference is that what Wall Street preaches is lies that will make you broke. Successful Trading ? Taking Profits - Part 1 So you're started trading, you bought some positions with your online broker, you've set some reasonable stop-losses to protect your account and all of a sudden one of your positions move strongly in your favor ? so what do you do now? This my friend, is probably the hardest situation to deal with in trading the market ? believe it or not. Stock Market System ... ONLINE STOCK TRADING ... Beyond Day Trading Basics & Tips Day trading is all about making buy and sell decisions. When you make a trade either your going to lose money or your going to make money, and some other times you will break even. When you win some body else will lose and so forth, but that's NOT what's important. Attitude Is [Almost] Everything I often play a little game with myself when I have to go shopping; to the post office or on other errands. Different Ways of Buying Stocks Let's say you are interested in this one company. You read its annual report, like what you see and your calculation indicates that the stock is trading way below its fair value. You are excited. It is time to buy! Hang on for a second. There are several techniques of buying stocks out there. Some are better than the other. Let me explore several useful ones. Maximizing a Stock Market Investment Maximizing a stock market investment |
home | site map |
© 2005 |