I am reading a book at the moment, I have attached a copy for you guys to read with me
The Title of the book is called "Born Rich"
It is a great book that claims to help you unlock and understand the power within
When i 1st started trading, i picked up on this game quick. i learnt all the technical’s, ideas and principle and started my trading journey off to a rather foolish quick start
1. I was very young at the time about 19 (5 years ago now)
2. I wanted to "Get Rich Quick"
I didn’t just get into trading just because of the MEGA yields of money available and the life style that comes with day trading. I did actually have a lot of passion for the markets and the financial economics the world
The one thing that crippled me and was SOOO frustrating was be in able to trade, understand trading and having a good method and rules. In SIM every day i would racking in thousands every day, my account grew from $5,000 to well over $100,000
But every time I went live, I would start off great. Follow my rules and watched the money flow in
I started letting my emotion, fear and greed control my account
I would literally be blinkered from what i knew how to do well and instead started trading randomly, moving my stops leading to me blowing account after account after account!
Every time i went back to SIM i would be the master trader that i had learnt to be, and then as soon as I went back LIVE i would blow it again
I changed methods tried everything possible to man
I then realised that it was not the markets and not my methods by my inner being and mind
I then set about learning all the important stuff i never even thought about....i have read alot of books like this one. But apparently this book is a very good example of learning about your inner mind and thought process ect
I have learned a lot about my inner mind myself thought process, but I wish to learn more and master this under looked process in trading. Yes everyone knows fear, greed and emotion exist. But not a lot of people know how the inner mind works and why us humans think and do what we do
I want to read this book in detail and study it and I want other people to read it to and have a open discussion
What i have learnt in my 5-6 years of trading is, it’s easy to read something. But you will not truly perform and do what you need to do until you fully understand what you are reading
So......i have attached the book and i am currently on page 29
If anyone want to read this book, or have read this book and wish to have a open detailed discussion about the meaning and content of this book would be great
It will help the newest traders to the advanced trader’s I’m sure
It should not a disappointment
Over and out
" I will follow my rules, I will take my stops, I will be disciplined and i will work with the market....NOT AGAINST IT! Professional mind control is the key"
Last edited by Big Mike; April 29th, 2012 at 09:05 AM.
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Thanks for the heads up on the book. I went on Yahoo and looked it up and burned through it this weekend.
Boy, were you right. It spoke very directly to a lot of the troubles i am having.
I am a newer trader (less than a year experience) and while the more spiritual stuff in the book didn't speak to me, the latter chapters, particularly, "risk takers" "the vacuum law of Prosperity", and "razors edge" were very enlightening.
I thought chapter 8 "the razors edge", was the best, as I see my self on the wrong side of that edge. I have been at this long enough to know that the real secret or "holy grail", is not in some trick indicator or secret strategy, but between the ears of the trader. From my observation, I am my own worst enemy, but i also feel i am a hair, or 'razor's edge' from being a successful trader. I just need to harness my own mind (ie stop setting, target setting and trading patience) and force it to my will.
But some of the great quotes from the book will get me through the next few months while i am trying to hunt down a system of my own:
"persistance is to the character of a man as carbon is to steel"
"you will never hear of, read about, or see anyone who achieves anything of greatness if his or her own life, without first taking some kind of risk"......
Thanks a million for the suggestion and can't wait to hear your evaluation of the book
Last edited by catdriver; May 14th, 2012 at 06:02 AM.