DislikedThings That Make You Go Hmmm... That Was The Weak That Worked: Part II http://www.mauldineconomics.com/ttmy...worked-part-iiIgnored
Best,
B.R.
Master Your Setup, Master Your self. (NQoos)
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DislikedThings That Make You Go Hmmm... That Was The Weak That Worked: Part II http://www.mauldineconomics.com/ttmy...worked-part-iiIgnored
Seven Things I Would Tell the Younger Me
1) Keep a laser focus on personal evolution. Thought patterns, habits, mental models, productive efficiency -- all need to evolve. Whatever level of importance you instinctively place on this, multiply it by a factor of ten. The more you grow, the more you will discover how much you need to grow to become the champion you were meant to be. This process never stops... and nor would you want it to. Winners evolve -- because winners are made, not born. To the extent someone is a born winner, it means they have a fire inside that can't be put out. That fire is what creates the relentless, burning desire to become great. And it's never too late to stoke that fire, as long as you've got a pilot light. But there is no reason not to start right here, right now. Your capacity for greatness is a function of your passion, resilience, and fierce determination to do whatever it takes. Nothing more, nothing less.
2) Cut away all the bullshit. So much of what distracts us in life is a giant waste of time. Life is not long. Even a hundred years is an eyeblink in the big scheme of things. In terms of personal experience, think quality, not quantity. A trip to Peru to hike Macchu Picchu is worth 10,000 hours of mindless television. An hour of quality time with someone you love is worth a thousand hours of empty fraternizing. Don't fall into the trap of settling for mediocrity, or assuming BS is inevitable just because so many people swim in it. Life is short and you are going to die. Live fully, drink deeply, and raise the roof before you do.
3) Don't expend time or energy on poisonous people. The whiners, complainers and drama queens. The needy greedy who can never be satisfied. The manipulators who can't be trusted and the sadsacks for whom "woe is me" is a constant refrain. The people who bring down everyone around them, or routinely hurt those around them. You wouldn't voluntarily catch a cold out of sympathy; you don't want this sickness either. Emotional poison can be as functionally detrimental as low-grade physical poison. Minimize your exposure to it. Cut it out completely if you can. Make a concerted effort to surround yourself with people who share a constructive outlook and a positive mental attitude.
4) Never, ever, ever underestimate the importance of rest, exercise, and nutrition. Body, mind, and spirit are one unified whole -- you cannot separate them. Mood, creativity, capacity for self-discipline, and capacity for clear-headed rational thought are all body-dependent -- rest, exercise and nutrition rule them all. The body was designed to be a lean, mean, physical exertion machine. Fitness makes a big contribution to happiness. In contrast, low quality fuel, lack of rest, and lack of exercise bring down the spirit and gunk up the mind. Treat your body as a temple. Indulge in the luxury of sleep. Work fewer hours than the "burn the candle at both ends" types, but outperform them by working harder and smarter (which good sleep will enable). Go Paleo (research it) and spend money on high quality proteins, fruits and vegetables. Learn how to run (research Chi Running). Embrace 'good' fats, which don't make you fat at all; avoid excess carbs, chemical fats and processed industrial foods. Treat peak physical performance as the gateway to peak mental performance, because it absolutely is.
5) Push yourself to the limits and beyond. The body, mind and spirit -- when properly maintained, see 4) above -- are capable of much, MUCH more than most realize. Western Worlders live in molly-coddling nanny-state societies. Consumer technology takes the risk and effort out of of day-to-day life, making us soft. Not only that, but the body itself is biologically designed to preserve energy and shy away from exertion extremes that could hypothetically threaten survival. These factors combine to condition timid attitudes when it comes to physical and mental exertion, emotional risk taking, and so on. This is partly why most humans live their whole lives coming nowhere close to true potential. They mistake factory-installed safety constraints for impenetrable barriers. Over time their fear and hesitation hardens into self-fulfilling prophesy. Thomas Edison: "If we did all the things we are capable of, we would literally astound ourselves." Damn right. Recognize that many of the built-in limitations you feel are artificial or needlessly conservative. You can blast through those limits and push harder -- much harder -- once you know how to do so safely and wisely. This takes constant willingness to explore outer limits, relentlessly pushing your comfort zone, observing what works and what doesn't as you incrementally expand. Get into the barrier-breaking habit. Become an intrepid explorer of your own personal frontier.
6) Don't obsess over money. Read "How to Get Rich" by Felix Dennis (one of the best books ever written on the pitfalls and challenges of obtaining wealth). Remember that you only have to get rich once -- and that time, energy, persistence and creativity are your most precious resources. With those four things, you can get all the money you want. You just have to break through (something most people never do). Chasing money for its own sake is the mark of a fool -- the amount you want is enough to live your best life. Wealth is being able to live how you want... where you want... spending your time on fulfilling work and pursuits... with no thought to the cost of aesthetic comforts that make life pleasurable. That takes a certain amount of dough, but nowhere near an infinite amount. Happiness isn't a giant mansion or a 150-foot-yacht or anything of the kind. People who obsess over status symbols have problems money can't solve.
7) Live Life to the Fullest. Henry de Monfreid was a French high seas adventurer who wrote many books. On his death bed at age 95 he said: "I have lived a rich, restless, magnificent life." That is the way to go (pun intended). In climbing the tree of success, don't be so focused on the higher branches that you forget to stop and taste the fruits. If you don't have fun, you squander opportunity to build great memories. If you don't explore the unknown, you squander opportunity for personal growth. Life is for living. Unique and fulfilling experiences are worth having, even at the cost of some pain. Leave the beaten path. Add to your collection of campfire stories to tell. Be bold and unconventional as a matter of principle. Manage risk, but remember that sometimes the greatest risk is not taking a risk. Pour yourself out and don't hold back.
Embracing mistakes and Not weaknesses
EVOLUTION, MORPHEUS, EVOLUTION
Think of the following logic chain:
Best,
B.R.
DislikedGood day. That Was The Weak That Worked: Part 3 http://www.mauldineconomics.com/ttmy...-worked-part-3Ignored
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Any trader employing the mantra of ‘price will come back’ with a GBPJPY position from July of 2007 is sitting in a pretty rough situation right now. And the prospects of price making a meteoric 100% rise in price seems distant; if at all even possible.Taken from The Number One Mistake Forex Traders Make, by David Rodriguez
The reason for many of these instances is likely lack of planning. After all, not many traders go into trades expecting to lose 2 dollars for every 1 dollar they may potentially gain. A much more likely scenario is a trader initiating a position because they feel a particular move might materialize, and in their zeal to get in before missing out - they fail to place a stop or a limit on the trade.Taken from How Much Capital Should I Trade Forex With, by Jeremy Wagner
Correspondingly, the traders at 5:1 leverage saw profitability at far greater clips than traders at 26:1. Traders using extreme leverage were profitable only 21% of the time, where traders using 5:1 leverage were profitable 37% of the time.