Think and Grow Rich by Trading

Good selection. Thanks for sharing

Just noticed that Napoleon Hill's book "Think and Grow Rich" is NOT titled as "Think Positive and Grow Rich"

Dancing Phil, like Jacko, is a con, so he is all bullshit. Maybe that's just my negative attitude. Or maybe it's my positive attitude. You decide.

Thinking positively = Jacko was a great con artist.
Doing something beyond just thinking positively = I should have offered him a job or would have bought him, if he was on sale.

Thinking positively = Dancing Phil converted $200 to $50 million, taking high risk on 1:400 leverage, right 12 times in a row.
Thinking negatively = I don't know how many other blown accounts of $200 are there under the carpet.
Doing something beyond thinking = I am happy with my small trades for few pips yielding 10% to 13% p.a.. Crazy returns may exist, but not for me (Screw Positive and Negative Thinking, this is Realistic Thinking).

Re-thinking.

I will be rich (once again) because I was the fastest among millions of cells to get this life. Thanks for the first reply. Were you also the fastest like myself?

I had to comeback and read this post one more time. Such a good post.

If someone goes back in his or her life, would find at least 10 instances where a little bit of thinking before a major decision would have avoided a "misfortune". We do not consider all the options only because of our defense mechanism that tries to avoid pain, does not let us think more about a painful situation. This is a blessing as well as a curse. If one somehow crosses this barrier, can see new horizons.

no mention of 'the secret'?

Know Thyself

Victoria's Secret is the best kept secret.

Positive thinking leads to positive action

positive action leads to positive results

positive thinking does NOT lead to positive results. Only positive action.

Lol.. Chicky, i respect your point of view. i have been recommended to read that Dales book, infact i have once given it for free. However i could not read it completely, it was really hard to digest for me.. at last i gave it to someone else for free . it was about disturbing the balance of life.. For me, its all about finding the equilibrium between the two. Thats all.
BA

If he wont, he wouldnt be there... everyone if fastest among that particular lot...

Nice Chicky

I was watching pro-tennis on the TV last night and watched a player mentally fall apart from a failed mindset. This is common and particularly evident in all types of endeavour.

While both tennis players were highly skilled and practiced having gone through the enduring day to day gruel of practice, it came to the game itself which was won or lost based on mental frame of mind. Some pro's, like traders never can climb the ladder again after this mindset change.

In times like these, this is where critical thinking should step in. As opposed to breaking under the emotional trauma of a few losses, training of the mind can allow you to take a moment to step outside the emotion and consider the fact that there is nothing different to this game than all your past practice.

This is where the likes of Roger Federer shine and why they can stay in the game so long. This is no different to trading.

Practice, practice, practice and get to know your game but don't let your emotions (negativity or to a lesser extent positivity) get in your way. The reason I am a bit suss of positive mindsets is that sometimes it is hard to distinguish between a positive mindset and an arrogant one. :-)

Many things need to be added. Here is one suggestion:

1. First, there is an ambition - It could be making millions trading forex or getting just enough to make a decent living, some call this Financial Freedom, or become a forex legend.

2. Then there is a definite well defined goal. The goal is a means to satisfy the ambition.

3. Now comes the difficult path, finding a way that could lead to achieving this goal. The example could be finding a method. This is where one needs remain in a positive frame of mind. Many setbacks, many Aha Moments only to find out later that they were just an illusion ...... and again and again. Many fake success stories from con artists sending you in depression making you think you are useless. This is where you need to remain positive. If you don't remain positive here, won't be able to consider options available to you. This in itself is an action. No one knows the right figure, but this is where I believe many fail. Some of them come back, then again disappear.

4. The action comes next. Applying what has been learned and tested. This again requires positive frame of mind. If a method has passed the logic test, there should be not much fear. The only fear is odds getting against you because there is no Holy Grail. Since there is no Holy Grail, one has to take some risk, play safe keep on dodging the risk. The risk is always there, like a shadow. There is no such thing as a perfect setup or a perfect trade. All entry, exit and remaining at sidelines decisions involve uncertainty. Then after taking a trade, there is again dark shadows of doubts. These doubts could be about the direction, lot size, timing, etc. Here again one needs to focus on the method. One can only remain positive if the method is logical. Trader knows all the strengths and weaknesses of the method. If a method is not logical, remaining positive is foolish.

5. So far so good, but then again hard luck strikes. No matter what traders do, how careful they may be, there is a long streak of losing trades. It seems the whole universe is after them, trying to bring them down. First it is profits that start vanishing, then the equity, then the reserve funds. The Murphy's Law plays its role, market goes in a consolidation mode, long week-ends, holidays, choppy market, etc. There seems no way to get out of this shit. With limited equity left, what was lost in a 200 pip move gets recoverable in 2,000 pips and it seems market would never move more than 100 pips, no way possible to recover loss. If recoverable, in 10 or 20 years with this pace. They start yelling in their sleep .......... hot waters, deep shit, why the fuck, what should I do, etc. remain the only vocabulary of words. It seems there is no God and he never existed. They want to kill the posters who brag about their wins. This is an art to remain calm in this kind of situation and think rationally or positively as one may like to put.

6. Then somehow this time passes either with full recovery, partial recovery or no recovery. But the situation changes. Again a fresh start and the same or smaller level of trading. Wise people learn from their mistakes, think rationally about what was wrong in their method or what they did wrong. But 99% again take the same decisions and exactly the similar way ..................... "This one time" thinking, and again the same fate. Why it happens? It will happen every time, every fuckin' single time. I know this. That is because Chicky's Gambling Rule #2. This rule never fails.

7. After a long time, they start once again, with this fuckin' positive thinking. They repeat all from 1 to 6. Again the same thing.

That shit is not in positive thinking, it is in thinking about your method and trading practices. Think about your method. Does it have a logic or is it based on some kind of gambling. Think about your money / risk management scheme. Think about your trade timings. Think about every thinkable thing that is relevant. THINK AND GROW RICH BY TRADING.

You hit the bull's eye Man!

This is what it is all about. If you have ambition and goal to fill your ambition, your mind changes. Your ambition gives you unbelievable strength. You try to excel even at the things so small for others but to you they become high impact. You never get tired, bear every physical hardship, etc. This is not some kind of magic, just Human Survival Instinct. It is in every animal and other living things. If you manage to activate that in trading or any other endeavor, you can do miracles. But to activate that, you need to have right emotions. I think this is what Mark Douglas referred to when he mentioned about the Zone.

That got me looking for the "LIKE" button

I think it is time for me to move on. I have been here for about 6 years. Learned many things and shared few. I need little time to work on my book. Wish you people all the best in whatever you do.

Cheers Chicky

I was enjoying your posts. Gonna miss ya!

Best of luck and don't be a stranger :-)