This topic could cover so many pages on its own, but this sections covers just two parts of the topic attitude; your attitude in general and why you’re trading, and more so, your attitude to wealth and money. These are important factors, which I’m going to expand in more detail here.
I’ve seen more people fail, not because they couldn’t or didn’t have the ability, but because of the wrong attitude to why they were trading, or to wealth and money and the attainment of those – sometimes, I’ve seen both, and for those there is little hope. I will cover the second one first, as I feel this is such a major reason why people fail and why they will always keep searching for success, but never, ever attain it.
How many times have you heard that wealth is a state of mind? I’ve heard it more than most, but I never used to believe it. I thought it was mumbo jumbo, despite my continual reading of success manuals and positive thinking books, tapes and, later, videos and DVDs. I’ve read about it, I’ve gone on courses concerning it, but at the time, always felt as though there was nothing more I could do. No matter how much I thought about thinking of being wealthy, my current circumstances and peripheral outlook beyond that were somewhat grim and depressing at the time. It wasn’t until that I started to actually make money that I noticed that my own outlook and beliefs were changing; my attitude to money had flipped to tails. It’s an unusual thing when this happens, but when it does, you find that you begin to attract just enough money (and then some) to cover your needs and beyond, just when you need it. I’ve seen this with myself and with others. I am not going to go on about that there’s this huge universal law, as some would say, but it is strange when you start to witness it first hand. The reason why I am stressing this attitude to money, and how your attitude does reflect what you will make, and your overall success, is that too many people have the mindset or attitude of – you have to work for someone else to make money!
The old fashioned saying used to be ‘Get a job to make a living!’. Two words in that sentence alone are so limiting, but sadly, it is what most people today are conditioned to think, despite the overwhelming opportunities that are available to people today. Those words are ‘job’ and ‘living’. They are controlling and limiting words. A job suggests hard work for someone else with limited reward, and living suggests to basically get by! As they say, JOB stands for Just Over Broke, and unfortunately that’s where a lot of people with a fulltime job find themselves.
Yet, we are still educated to believe that we should look to work for someone else, to get a wage to earn a living, to climb the ladder and get the gold watch! The trouble with this kind of mentality is that it’s limiting and conditions the individual into thinking that the only way to make money and to get ahead, is to work and make money for someone else. Millions of people think this way, it’s no fault of their own; many feel as though they could do more, be more, achieve more, but are limited by the vista that their employer provides.
There is only one solution to this, and that’s to break out into something else that provides you with an opportunity of creating and replacing your wage; far, far better than any other method of making money in the world today.
This brings me to your attitude to why you are trading. You must have the right attitude or you are almost guaranteed to lose. Fear and greed, those powerful emotions, play into this and you must control them to control your attitude. Trading can be a scary thing if you are not sure what you are doing, and it is also scary if you are mis-takenly committing more money than you should, and depending on each trade turning out right to pay your bills.
You have to realize that the market doesn’t care if you need the money for your bills or not, and can be fickle. No-one can guarantee any particular trade is going to win, but I aim for better than average selections and good use of funds to minimise losses.
In all my teachings I’ll show you how to overcome these fears and develop the right attitude to making trades. Certainly, I will give you the education that means you know what you are doing; and I will also advise you on your money management, so that you are aware enough not to over commit.
By reading this manual, you have shown yourself to be already in the minority that sees that to move forward and to achieve any lasting or real success, the only way is to work for yourself. Many of my students are self employed or run successful businesses. I am not surprised by this, as these are the very people that understand already how you need to work for yourself and leverage what you do to create wealth.
You’re one of these people. You may not own your own business, at least at the moment, but you certainly understand that to create any form of lasting real wealth, you have to take responsibility and do it yourself. However, you must understand also, that you need to be able to leverage what you do.
Many people who work for themselves still find they are caught in the hourly rate way of thinking, which is almost as bad as working for someone else. You only have so many hours, and in that you charge £50.00 an hour, you can only ever make so much, unless you employ someone and move on to expand your business that way. Ideally, what you should do, and what trading allows you to do, is to leverage your time so you’re not stuck in so many hours work for so much reward.
So congratulate yourself on standing out above the rest, and looking to achieve your goals and dreams. It’s not an easy road, and you will face many challenges along the way. As the saying goes, ‘if it was easy, then everyone would be doing it’…vive le difference!