Sunday, 20 October 2013

The 4 Levels Of Trading Mastery

In everything you do, you'll find yourself confronted with a standard ladder of mastery.

Trading is no exception.

The 4 levels are:
Unconscious Incompetent – when you have no knowledge and no experience

Conscious Incompetent – you achieve this level once you’ve gathered some bit of knowledge, and can now recognize you still have a lot to learn and experience.

Conscious Competent – when you have the knowledge and know how to use it, at this point you are starting to see great progress and results.

Unconscious Competent – The last level of mastery at which point you perform the task with a crystallized behaviour and you no longer think about it, you just do it right and comfortably well.

A fair example of this ladder would be in driving.

When we start, we are unconscious and incompetent, as we don’t know the Highway Code and don’t know how to operate a car.

Then we learn the code and the basics of how to drive a car and become aware of what we have yet to achieve. We therefore passed to be conscious and incompetent.As we try to gather experience we have the knowledge but we are letting the car stall, braking too hard etc.

With further experience, we then progress to conscious competent, where we know the code and how to drive the car. However, we still are thinking and focusing on these tasks.

And then we finally achieve the last level of mastery where we become unconscious and competent, we no longer need to think about driving we just do it well. We don't need to look to the gearbox anymore, pedals etc.

The unconscious competent level of mastery can be linked to the psychological state known as “flow” where you possess a very high skill level and you feel perfectly comfortable, with contained emotions, and can handle changes with ease.

The flow state is the state you want to achieve whilst trading in order for you to be relaxed and successful.

This is all about you, so don't focus on the others and how much they're making and how well they are doing, instead focus on yourself. Be able to humbly recognize and pinpoint accurately where you stand in the learning process, embrace it and focus on your progress.

So what is your level of mastery?

The 21 Absolutely Unbreakable Laws of Money

The Laws

1. The Law of Cause and Effect:
Everything happens for a reason; there is a cause for every effect.

2. The Law of Belief:
Whatever you truly believe, with feeling, becomes your reality.

3. The Law of Expectations:
Whatever you expect, with confidence, becomes your own self-fulfilling prophecy.

4. The Law of Attraction:
You are a living magnet; you invariably attract into your life the people, situations and circumstances that are in harmony with your dominant thoughts.

5. The Law of Correspondence:
Your outer world is a reflection of your inner world and corresponds with your dominant patterns of thinking.

6. The Law of Abundance:
We live in an abundant universe in which there is sufficient money for all who really want it and are willing obey the laws governing its acquisition.

7. The Law of Exchange:
Money is the medium through which people exchange their labor in the production of goods and services for the goods and services of others.

8. The Law of Capital:
Your most valuable asset, in terms of cash flow,is your physical and mental capital, your earning ability.

9. The Law of Time Perspective:
The most successful people in any society are those who take the longest time period into consideration when making their day-to-day decisions.

10. The Law of Saving:
Financial freedom comes to the person who saves ten percent or more of his income throughout his lifetime.

11. The Law of Conservation:
Its not how much you make, but how much you keep, that determines your financial situations.

12. Parkinson’s Law:
Expenses rise to meet income.

13. The Law of Three:
There are three legs to the stool of financial freedom: savings, insurance and investment.

14. The Law of Investing:
Investigate before you invest.

15. The Law of Compound Interest:
Investing your money carefully and allowing it to grow at compound interest will eventually make you rich.

16. The Law of Accumulation:
Every great financial achievement is an accumulation of hundreds of small efforts and sacrifices that no one ever sees or appreciates.

17. The Law of Magnetism:
The more money you save and accumulate, the more money you attract into your life.

18. The Law of Accelerating Acceleration:
The faster you move toward financial freedom, the faster it moves toward you.

19. The Law of the Stock Market:
The value of a stock is the total anticipated cash flow from the stock discounted to the present day.

20. The Law of Real Estate:
The value of a piece of Real Estate is the future earning power of that particular piece of property.

21. The Law of the Internet:
The Internet is a tool for rapid communication of information of all kinds.

To read the elaborate article, please follow the below link.