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Monday, January 19, 2009

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The sweetest twelve commandments to remember

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  1. Make up your mind to be happy. Learn to find pleasure in simple things.
  2. Make the best of your circumstances. No one has everything, and everyone has something of sorrow intermingled with gladness of life. The trick is to make the laughter outweigh the tears.
  3. Don't take yourself too seriously. Don't think that somehow you should be protected from misfortune that befalls other people.
  4. You can't please everybody. Don't let criticism worry you.
  5. Don't let your neighbour set your standards. Be yourself.
  6. Do the things you enjoy doing but stay out of debt.
  7. Never borrow trouble. Imaginary things are harder to bear than real ones.
  8. Since hate poisons the soul, do not cherish jealousy. Avoid people who make you unhappy.
  9. Have many interests. If you can't travel, read about new places.
  10. Don't hold postmortems. Don't spend your time brooding over sorrows or mistakes. Don't be one who never gets over things.
  11. Do what you can for those less fortunate than yourself.
  12. Keep busy at something. A busy person never has time to be unhappy.

    And don't forget to always be THANKFUL!


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Tuesday, January 13, 2009

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3 Life Lessons to Remember

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Turtles
A turtle family decided to go on a picnic. The turtles, being naturally slow about things, took seven years to prepare for their outing. Finally the turtle family left home looking for a suitable place. During the second year of their journey they found a place ideal for them at last!
For about six months they cleaned the area, unpacked the picnic basket, and completed the arrangements. Then they discovered they had forgotten the salt. A picnic without salt would be a disaster, they all agreed. After a lengthy discussion, the youngest turtle was chosen to retrieve the salt from home. Although he was the fastest of the slow moving turtles, the little turtle whined, cried, and wobbled in his shell. He agreed to go on one condition: that no one would eat until he returned. The family consented and the little turtle left.

Three years passed and the little turtle had not returned. Five years...six years... then on the seventh year of his absence, the oldest turtle could no longer contain his hunger. He announced that he was going to eat and begun to unwrap a sandwich.
At that point the little turtle suddenly popped out from behind a tree shouting, 'See! I knew you wouldn't wait. Now I am not going to go get the salt.'

LESSON ONE: Some of us waste our time waiting for people to live up to our expectations. We are so concerned about what others are doing that we don't do anything ourselves.

The Frogs
A farmer came into town and asked the owner of a restaurant if he could use a million frog legs. The restaurant owner was shocked and asked the man where he could get so many frog legs! The farmer replied, 'There is a pond near my house that is full of frogs - millions of them. They all croak all night long and they are about to make me crazy!' So the restaurant owner and the farmer made an agreement that the farmer would deliver frogs to the restaurant, five hundred at a time for the next several weeks.

The first week, the farmer returned to the restaurant looking rather sheepish, with two scrawny little frogs. The restaurant owner said, 'Well... where are all the frogs?' The farmer said, 'I was mistaken. There were only these two frogs in the pond. But they sure were making a lot of noise!'

LESSON TWO: Next time you hear somebody criticizing or making fun of you, remember, it's probably just a couple of noisy frogs. Also remember that problems always seem bigger in the dark. Have you ever laid in your bed at night worrying about things which seem almost overwhelming like a million frogs croaking? Chances are pretty good that when the morning comes, and you take a closer look, you'll wonder what all the fuss was about.

The Pretty Lady
Once upon a time a big monk and a little monk were travelling together. They came to the bank of a river and found the bridge was damaged. They had to wade across the river. There was a pretty lady who was stuck at the damaged bridge and couldn't cross the river. The big monk offered to carry her across the river on his back. The lady accepted. The little monk was shocked by the move of the big monk. 'How can big brother carry a lady when we are supposed to avoid all intimacy with females?' thought the little monk. But he kept quiet. The big monk carried the lady across the river and the small monk followed unhappily. When they crossed the river, the big monk let the lady down and they parted ways with her.

All along the way for several miles, the little monk was very unhappy with the act of the big monk. He was making up all kinds of accusations about big monk in his head. This got him madder and madder. But he still kept quiet. And the big monk had no inclination to explain his situation. Finally, at a rest point many hours later, the little monk could not stand it any further, he burst out angrily at the big monk. 'How can you claim yourself a devout monk, when you seize the first opportunity to touch a female, especially when she is very pretty? All your teachings to me make you a big hypocrite. The big monk looked surprised and said, 'I had put down the pretty lady at the river bank many hours ago, how come you are still carrying her along?'

LESSON THREE: This very old Chinese Zen story reflects the thinking of many people today. We encounter many unpleasant things in our life, they irritate us and they make us angry. Sometimes, they cause us a lot of hurt, sometimes they cause us to be bitter or jealous ... But like the little monk, we are not willing to let them go away.We keep on carrying the baggage of the 'pretty lady' with us. We let them keep on coming back to hurt us, make us angry, make us bitter and cause us a lot of agony.Why? Simply because we are not willing to put down or let go of the baggage of the 'pretty lady'. We should let go of the pretty lady immediately after crossing the river, that is after the unpleasant event is over.This will immediately remove all our agonies.There is no need to be further hurt by the unpleasant event after it is over.


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Thursday, January 1, 2009

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New Years Resolution?

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Achieving the RESULTS you want (your list of goals,) in the TIME you have (next year,) requires just 2 essentials: Remaining COMMITTED to your GOALS... and staying CONNECTED to your performance.

A Pledge to DO...

Remember, you can have the greatest intentions, dreams, wishes and goals in the world, but without sustained COMMITMENT, you don't have a snowball's chance of achieving them.

To set the stage for our continuing discussion of putting Resolution into your Resolutions, take a few minutes to review how American Heritage defines some of the most powerful words in the English language...
COMMITMENT Noun: An act or course of action that is demanded of one, as by position, custom, law, or religion. See also: Charge, responsibility, duty, obligation, imperative.
  • A pledge to do; Something pledged, especially an engagement by contract involving financial obligations.
  • The state of being bound emotionally or intellectually to a course of action or to another person or persons: a deep commitment to conservative policies; a profound commitment to the family.
RESOLVE: The POWER to make choices and SET GOALS and to ACT upon them firmly in spite of opposition or difficulty. See also: Will, resolution, determination.
DETERMINATION: 1) Firmness of MISSION and purpose; resolve: approached the task with determination and ENERGY; A fixed intention or resolution: returned to school with a determination to finish. 1) The act of making or arriving at a decision.
WILL: 1) The mental faculty by which one deliberately chooses or decides upon a course or PLAN of action; Volition; The act of exercising the will. 2) Diligent purposefulness; determination: a candidate with the will to win; 3) A desire, purpose, or determination, especially of one in authority; 4) Deliberate intention or wish.

Success: It's a matter of WILL... and POWER.



The big idea behind each of these words is that you freely CHOOSE, then ACT, and with requisite confidence and POWER, you achieve your GOAL in spite of opposition or difficulty.
Or, you don't.
Assuming you have the WILL to live the life of your choice, then all you need is a boost in POWER.

[Source: thinktq.com]


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Tuesday, December 16, 2008

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How Much Would Massive Success Really Cost?

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In our back yard is a large, gorgeous maple tree. In the summer, it's home to a number of birds.

Last year, at the end of a long branch, which extends to within 7 feet of our upstairs bathroom window, a family of robins built a nest where they lived all summer until the weather got too cold.

Both our cats just lay in the windowsill for hours all summer watching the birds come and go less than 7 feet from their window perch.

Now keep in mind that the winter was absolutely brutal. 14 feet of snow. The wind that blew like no winter that I can ever recall. Never as often and as hard as that year, it seemed. It was just miserable from mid October until April.

Yet this bird's nest, sitting on a long branch wide open to the chilling, hammering winds and cold that snaps electrical wires like tooth picks, stayed right there.

Every day, I'd look out at this nest and there it was, gripping that branch...

And I've got to believe that the robins that built the nest were no smarter or more skilled in nest building than any of the robins in my neighbors' trees.

They simply didn't want their home to fall apart no matter what. So they build it to withstand the worst possible conditions.

No short cuts. No excuses.

Tell me, what if you were to take every little task you do today, and do your absolute best? What if you were to mow the lawn as well as you could today?

What if you gave your all to every customer or prospective customer? How much more effort would it take to be the best husband, wife or significant other than you normally put in?

What would it really take to avoid eating beyond being comfortably full? To finish your homework and then read for another 30 minutes for good measure?

You know, the difference between failure, moderate success, an OK marriage, an undistinguished career and a raging success in any one of those areas is usually miniscule.

It's not that much more effort. Often it's hardly any real work at all.

Every single day I get emails from people who have given up hope of ever being really happy and satisfied in life. "I'm beyond help." "I'm happy that you're doing this work for other people... Too bad it can't help me."

They read the articles. They may even buy our tapes, and either don't listen to them as prescribed, or when changes do begin either with positive progress or with negative tension created by the rapid changes happening, they quit because the change is uncomfortable at first.

"Whoa! That's not me! Who am I kidding? Better slow down."

The bottom line is, change is always wanted on some level but hardly ever completely enjoyable at first.

If there is one thing that you MUST beat into your head every day like a mantra is that success at anything is simple. It's so simple!

It's just a matter of repetition of little thoughts and little actions.

For example, to allow yourself to do shoddy work once and then again is to create momentum. A third time is like an avalanche...

Hard to stop it. The fourth time is virtually guaranteed.

When the brownies or chips and soda make it into the shopping cart every week, that's it. Run past that aisle. Achieve a little success. Get a little momentum going the other way.

When the sitcom wins out consistently over the homework or baseball practice in the back yard, then you are creating a rotten habit, which develops a character. Done long enough, and that becomes who you are...

But thank God that with just a little effort we can change those things by making only slight direction changes.

The nest in my back yard is now housing a new family of robins who didn't have to do a thing. They just moved in. All the work was done already. They just hung a few pictures, threw out a "Welcome" mat and called it home.

And once you change the momentum of any downward slide you may be in, it's deceptively simple to stop the slide, make a few right decisions and your entire destiny can change.

If I was to get in my truck right now and drive due west for just four days, I'd be in North Bend, Oregon. But if I was facing only about 5 degrees to the south, in the same four days I'd end up in Los Angeles, California... about 960 miles away.

Now hold your thumb and fore finger about an eighth of an inch apart. Go ahead. Do it. You see, most of the time the difference between horrible, devastating failure and massive, glorious success is only that far apart.

In the next seven days, will you have chosen to stay on course?

Keep reminding yourself of how important each hour and each decision is. Do that every hour today, and I guarantee that no matter what doesn't go right, you won't be too terribly bothered by it.

And isn't that the direction you wanted to go in today?

[Source: www.thinkrightnow.com, by Mike Brescia]


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Tuesday, December 9, 2008

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Put Some Fire in Your Desire

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One of the keys to success is staying motivated because it is being motivated that keeps us going out the door every day to change the world and reach our destiny! It is our desire for a better life, for change in ourselves and others, and for personal growth and fulfillment that moves our mountains! Desire!

Desire sure is a word with much more richness to it than the word "want" though they are essentially the same. "Want," though, sounds like you could take it or leave it. "Desire" says, "I have to have it!" Desire, is "want" with a fire under it!

Unfortunately, we tend to ebb and flow from want to desire, even with the same goal! One day we may be passionate about building our business or growing our relationships and then, the next day, we find ourselves simply in the "want" camp again.

The key to keeping on is to re-light the fire under want so it roars into a raging fire of desire! Then, and only then, will we see the passion needed to be tenacious pursuers of our dreams! Keeping the fire lit is what will see you through the mountains and valleys of life and the journey you are on to your success!

So what do we do? We light the fire! Here are a few thoughts to help you build the fire of your desire!

The wood:
Keep a clear mental picture of the goal. This is imperative. The picture of the goal is like the wood in a fire. It is the raw material. Know what your goal is and what it looks like.

The fuel:
Keep a list, if simply just a mental one, of all of the benefits of pursuing and reaching your goal. Make them as "sense" oriented as possible. "See" the benefits. "Hear" them. "Touch" them. This is like the fuel that we add to a fire to get it going. Now all we need is a match.

The match:
Keep yourself active! This is the match: Action! Even when you don't feel like it, get yourself to act and soon you will see the fire burning because you have again ignited the dream! The more desire you have the more the fire burns.

Eventually the fire will begin to die out. Here is where you throw the wood on again, pour on some fuel, and if need be, strike another match.

I would encourage you to not let the fire go out though, because it is easier to continually throw wood and fuel on an already burning fire than it is to start one up again!

[Source: www.chriswidener.com, by Chris Widener]



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Thursday, December 4, 2008

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Coping with Losses (Overcoming The Fear of Losing Money)

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In modern society, money seems to be taking on the specter of the major motivating force for human actions.
Without money, a person's quality of life can be stunted and leave a person standing on the outside of society.
Money-and the successful pursuit of it- may be the new religion.

The paradox of being a trader is that you do it to build wealth, but to really enter into the game, you need to already have some wealth.
Not only that, for money to not ruin the chances of making your trading capital grow, you need to not need it......
Say what? Let me explain.

To be able to trade effectively, a trader can't be afraid to lose money. You see, you will have losing trades and you will go through periods when you will see your trading account dwindling. It comes with the territory. Losing is just part of the reality of trading on probability.
Over time, even the best prepared and most favored fall victim to probability. Just as the New England Patriots.
And trading is all about probabilities.

The fundamental concept of trading is that a trader, over time, will have more winning trades than losing trades and that the margins on the winning trades are higher than the margins on losing trades.
Over a set of trades, top traders expect about a 65-75% win to loss ratio. That means that at least 25% of the time, even the best traders have losing trades.
So, the first thing to accept is that there will be losses.

Most people who are aggressive enough to be attracted to trading have been successful in other aspects of their lives. This may often mean that they are used to winning or at least normally not failing.
From our earliest days, we are taught that losing is equivalent to failure. That you have done something wrong. Losing becomes a deeply ingrained negative symbol.
Often times, it is accompanied with some sort of negative consequence and negative emotions amplify the impact of the concept of losing.
Unfortunately, not many people learn to see a losing situation as an opportunity to learn and improve.
But in trading, you not only have the deep seated connotations of losing but also the emotional impact of the tangible loss of something valuable-money.

Because money has such power, traders must apportion an amount to trading that won't make a significant impact on the life style, financial obligations or future plans of the trader.
That is to say, the trading account should be monies that can be lost without adding any stress to the economic situation of the trader.
If the total trading account were lost, it would have little to no impact on the economic well being of the trader. And thus, little emotional impact.

Because trading is a long haul proposition, traders need to be conscious of the fact that capital conservation is part of the strategy of keeping in the game and exposed to the probabilities.
As a result, most traders are very conservative with the money they don't really need. (the trading account).
It's common to hear that most traders have a drawdown limit of 20-30%. This means that if the account balance decreases 20-30%, a trader will stop trading and return to the drawing board.

Normally, the trader will need to tweak the trading system or take a hard look at how the trader is implementing the system.
Not only do traders use drawdown limits on the trading account, but also they have limits on how much money can be traded on any one trade.

For example, most traders won't trade more than 1-5% of the trading account on any one trade. This allows a trader to absorb the inevitable losses and still have resources to continue trading. Remember, trading is about being correct most of the time, not all of the time.
Losses will happen but they are quickly closed out to minimize impact on the cumulative number of trades.
To sum it up, traders need to totally negate as much as possible the emotional impact of losing money. Proper training of the subconscious mind to put losses in the right perspective can be extremely helpful.
In addition, traders need to set up rules and procedures to limit the effects of the inevitable losses and play to stay in the game.
To use the baseball analogy, being a trader is about hitting for average and not about hitting home runs.

[by Norman Hallett, CEO of Subconscious Training Corporation, Makers of TradingMind Software]


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Wednesday, November 26, 2008

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The Dangers of Being Off Balance

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It's easy to get out of balance during particularly hectic times such as the current holidays. Being off balance can be exhilarating if it's just for a few moments such as when you're falling in love, receiving an honor or recognition or simply enjoying a real roller coaster or carnival ride.

Being off balance longer than that, however, can be dangerous to our relationships, our physical beings or our careers. The best way to gain and retain a sense of balance is by setting goals and sticking to your plan.

Having a set of goals to refer to regularly will help keep your feet planted on the ground and give your mind a focal point to bring you back to earth when something sidetracks you (either something good or something bad).

A well-lived life is a balancing act. If you're out of balance, it will show in your demeanor. You won't handle personal or business situations as best you can and that will eventually have a negative affect on your bottom line and the level of enjoyment you have in your everyday life.

Don't risk the detriment of being out of balance long term. Take a few moments each day to consider what might be pulling you off the course you've set for yourself. Then, schedule (and take) the actions necessary to even things out.

[Source: tomhopkins.com, Tom Hopkins International]


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Tuesday, November 18, 2008

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Dream Insights

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A dream is simply something that you want. And where do dreams come from? You make them up. Some are based on needs such as putting healthy food on the table or sending your kids to a good school.

Some of them are based on desires such as writing a book, buying a home, or traveling to an exotic location. But by far, the most profound dreams are those that are the expression of your life's purpose.

* You have to have a dream to have a dream come true.
* Trust your intuition and follow your heart.
* Every resource you need is available to you.
* Believing in your dream is an essential component.
* There are signs showing you which way to go. Learn to read and act on them.
* There is often lag time between imagining your dream and making it happen.
* You have the ability to make your dreams happen but it will require your willingness to do whatever it takes.
* On the other side of fear are great lessons. Stay more committed to your dream than to your doubt.
* As you complete one dream, it's time for another. Don't ever be afraid to cross the finish line. There are always more dreams available.

A Visualization Exercise: The Sliding Glass Door

Imagine that you're standing with your nose pressed against a glass door, so close to it that your breath is steaming up the glass. As you wipe away the steam, you see an ideal place on the other side of the glass. You see your dream. Feel your feet standing on the floor on your side of the glass door, the other side of your dream.

You're standing in the "Where I Am Now," where you live with everything that's happening in your life, including your attitudes and beliefs. Looking through the glass door, you see the beauty on the other side. Is this where you want to be?

Grasp the handle and slide the door open. A gentle, warm breeze comes wafting in, and there's a delicious smell in the air. As you gaze around, you see every­thing on the other side that you want, everything that's in your dream, and everything you're committed to having.

Your family is there, too, your friends, your dream home, your dream life. All the elements of your dream are there, right on the other side of the threshold.

Notice where you are versus where you want to be. All you need to do to get to the other side is make the commitment and step across. Ask yourself, "Is this what I want? Will I commit to this?" If the answer is "Yes," lift your foot and step through.

[Source: www.marciaw.com, by Marcia Wieder]


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Monday, November 17, 2008

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Risk Management

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The answer to the question, "Is Managing Risk Optional?", given by most people and certainly most traders and investors is "Absolutely not! Of course you must manage risk in order to potentially be successful," they say. And they are absolutely right! Why then do few traders and investors do a good job of managing risk?

Managing risk is an easy concept to embrace intellectually, but not emotionally. We all tend to want to risk too much on any given trade, or worse yet, we'll tend to have that "home run" mentality, always looking for that one great stock that will make us wealthy. We end up committing too much capital per trade which sets us up for a string of losers that could do serious damage to our account. We do this because we fail to comprehend that any system or method of trading will suffer losses from time to time, no matter how good the system or method - alas, the "Holy Grail of Trading" does not exist.

Another tendency that most of us have is to want to trade on a regular basis every day, and every week depending on our time horizon, without any regard to whether or not there are any good trade set-ups offered by the market. One of the most effective forms of risk management is to avoid trading when there are no potentially high probability set-ups available.

Is managing risk optional? No. For stock traders, following these two simple rules could potentially mean the difference between outstanding returns and unnecessary losses*:

Rule#1: Risk no more than 2% of your account on any one trade.
Rule#2: Be patient, be selective and wait for the good trades.

[Source: Risk Management in Trading, by Bill Poulos]


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Wednesday, November 5, 2008

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Why We Avoid Resistance

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Princeton University's WordNet 2.1 defines resistance as the action of opposing something that you disapprove or disagree with. If you make a short list of things you like, relish or love, I doubt the word resistance will show up on your list.

Resistance isn't something that most of us cherish or are drawn to - at least personally. True, some may enjoy observing resistance as a third party to it - which could be one explanation for boxing, professional wrestling and the success of the Jerry Springer Show - but few of us look for or enjoy resistance.
Which is why we so often choose to avoid it.

Here are seven major reasons why people tend to avoid resistance.

We are taught to avoid it. As kids, we are taught to agree - or at least get along - with our teachers, our parents, other authority figures and other kids (or at least not make our disagreement or disapproval public), and while the purposes for these behaviors might not be completely about resistance (they may also be about respect among other things), most people seem to connect the lesson to avoiding resistance.

In fact, there is a common phrase that reinforces this teaching - "taking the path of least resistance."

We don't want to be called names. Extensions of the "that's what I was taught" reasoning are the thoughts that "I don't want to rock the boat, or cause a scene." If you avoid resistance the boat may stay stable, but if you do confront issues, propose potential changes or just not agree with someone you might be called names - like "rebel" or "troublemaker."

We think resistance is a bad thing. If you think all mushrooms you see in the woods are poisonous, you'll avoid them. If you think all Clint Eastwood movies are Westerns and you don't like Westerns, you'll avoid anything starring Clint. Likewise, if your belief is that resistance is inherently negative, you'll tend to avoid it.

We take it personally. If someone resists your idea, you might take that resistance as a personal attack. Have you ever been told your idea was stupid or that your approach wouldn't work? Even if the comment wasn't a personal attack, it often leaves us feeling that way. Since most people don't like to be attacked (even verbally), logically, you can avoid that feeling by avoiding the resistance.

We don't know how to deal with it. If you have long avoided resistance, you might not know how to deal with it in a positive and constructive way. Resistance is like many other things, if you don't have knowledge and the proper tools, you might shy away from it.

We think it will lead to conflict. For many people resistance and conflict are synonymous. And if you don't like conflict and see it as the necessary outcome of voicing your resistance; you'll likely avoid the resistance in the first place.

We think avoiding it is the easiest approach. Humans are basically lazy. Since most people consider "the path of least resistance" to be the equivalent of the "easiest path", that is often the one selected. It only makes sense, after all, to avoid something we think is bad and that would be difficult to do something about anyway, right?

So is all of this avoiding such a bad thing?
Generally, to be blunt, yes.
Why?

Resistance promotes growth. In the physical world without an opposing force (resistance) we couldn't strengthen our muscles.
In the interpersonal world, resistance is a sign of energy; energy that can be used in positive ways, but only if it is explored.
If no one disagrees with a new idea (offers some resistance) will a better idea be found?
Without opposition (or resistance) how many new products would be created?
Without some admission of problems (a sign of resistance) will teams or relationships ever be revitalized?
Ask yourself which of the excuses outlined above have you used in the past, and how would you benefit from overcoming your urge to avoid some resistance today.

[Source: kevineikenberry.com, by Kevin Eikenberry]


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