Saturday, 17 October 2015

10 Lists to Keep If You Want to Be Successful

By Djordie Todorovic

The human mind is truly incredible, and we should all strive towards creating a tenacious memory we can rely on. Many lucrative professions or hobbies require such a trait—actors, musicians, artists and entertainers in general do countless drills, just so the required information can be embedded in the memory with certainty. Clearly numerous doors that lead to a successful future are unlocked if one has a great memory. Although beneficial, it is not an essential ingredient within the success formula—what you lack in memory can always be compensated with diligence.

Keeping track of crucial elements in your life through list-making is still an unrivaled tactic for counterbalancing feeble recollection. By utilizing constant reminders, we can have significantly greater organization, we won’t be under the impression we have forgotten something, and we will have a clear insight into which task has a stamp of immediacy attached to it. Here are ten suggested lists that warrant implementation, in order to track achievements and nurture ambition.


1. List of Goals

“What you get by achieving your goals is not as important as what you become by achieving your goals.” - Zig Ziglar

Goals and ambition is what drives us and motivates us, but we need to ask ourselves what is it that we want in order to feel truly accomplished. Your list of goals should consists of all the items that you deem are necessary to truly respect yourself. It can be financial stability, a place you can call your own, starting your family, being independent, etc. People have different criteria when it comes to goals, and this list in particular is ever-growing; it changes as you mature, but it always feels great when you cross something out of it. Without such a list, you lose direction of where your life is heading, and we all need some inner guidance to focus on—a good reason to get up in the morning.

2. List of Tasks

“Happiness does not come from doing easy work but from the afterglow of satisfaction that comes after the achievement of a difficult task that demanded our best.” - Theodore Isaac Rubin

Tasks are actually milestones on the road to goal completion, and these lists have a tendency to become quite copious. New tasks emerge on a daily basis, regardless of whether you are an employee, a student, or a freelancer. Despite the fact that they are arduous, we always have some sense of achievement once the task is complete, or when a certain problem is solved. By avoiding to make such lists and lists of our daily tasks, they’ll simply pile up and eventually become a hindrance.

In the event you have larger tasks that need more than a day, a week or a month before they can be completed, then break those tasks into smaller daily assignments, and put them on the list as well. As long as you monitor larger tasks while completing minor daily milestones, you will have a greater grip on progression and continuous source of motivation. List and sticky notes are actually quite potent tools for increase in productivity, especially while we are working from home.

Lastly, it is worth mentioning that you should also have a list of personal tasks, or tasks you do for the sake of self-fulfillment. These are related to your personal goals, and governing passions—writing a book, painting, crafting etc. These tasks will define you and offer a much greater sense of achievement, so give it your all to create something you can be proud of.

3. List of Contacts

“Wishing to be friends is quick work, but friendship is a slow ripening fruit.” - Aristotle

It would be delusional to assume you can make it all on your own; however, at the same time, a flawed partnership can result in disastrous outcome as well. It is extremely difficult to find compatible allies and contacts, since friends and family—in other words, people close to you—may not be the best choice for a business partner. If you want to enter into a partnership with someone, make sure the person shares the same vision. Tread lightly and try to ascertain your potential partner’s level of reliability.

Throughout life, we come across skillful, capable and talented people, whose competence might be needed in the future, depending on your line of work of course. Do not be hesitant to offer a helping hand when they are in need, since you can gain a valuable contact. The point being: make a special list of all important contacts, like reliable programmers, handymen, lawyers, etc. Remember not to only reach out when you are in need. You need to maintain a healthy and natural relationship and be there for those people if they require your assistance. Truth be told, it can be arduous to forge strong friendship bonds, but having important acquaintances and becoming an important acquaintance is very much possible.

Without such a list, you are leaving yourself vulnerable to possible future complications; moreover, make sure this list is well-kept since once you lose a contact like this one, it can be somewhat troublesome to recover such data. Just be sure you have recovery data tools at your disposal to mitigate the damage if something were to happen to your phone.

4. List of Expenses

“A wise person should have money in their head, but not in their heart.” - Jonathan Swift

This may be a quite mundane piece of advice, yet it is very often neglected. As we all know, there are two types of expenses: those that are necessary, (bills, taxes, food) and those expenditures used for indulging some personal cravings. There is a degree of restraint that the majority of us lack in order to approach the matter with a satisfying level of prudence. To say it bluntly, we treat our wants like our needs, and necessities and primary obligations are pushed in the background. Of course, this may sound a bit exaggerated, but the truth is the pressure of a consumer’s culture eventually becomes overwhelming, resulting in a purchase we shouldn’t be able to afford at the time. This kind of behavior can be avoided by utilizing lists, and turning them into an omnipresent reminder of what is truly important.

By making lists of all the monthly expenses we are obligated to pay, we’ll have a clear overview with how much resources are there at our disposal. On the other hand, without this list filled with meticulous calculations, we are prone to believing that we have more freedom to engage in a shopping spree, ultimately causing our bills to pile up; thus, we end up a step closer to a financial suicide. Handling finances properly, or the fact that we prioritize the costs of living, is a responsibility that signifies maturity. Success is commonly measured by the amount of wealth and without adequate spending tactics, you prevent its accumulation.

5. List of Useful Tools

“If you’re the type of person who has to fulfill your dreams, you've got to be resourceful to make sure you can do it.” - Vin Diesel

Today’s society vastly depends on the use of technology—we exchange information, conduct calculations, measure time, etc. This level of reliability also suggests liability. If something were to happen to our cell phone or personal computer, it would be a sizable setback that could harm our capabilities severely. As mentioned, losing contacts can truly be troublesome. It is even worse however, to have your life’s work lost and compromised.

Useful tools are not only limited to recovering damage; they also encompass tools that make your job easier. With efficiency and a greater level of competence, you are a step closer toward success. Using the right apps and tools can make up for our lack of skills in a particular area, or simply help us manage our work in a more timely manner. Keeping a list of useful tools will come in handy whenever you are faced with more common problems, like finding a good restaurant for a business dinner, driving through unfamiliar terrain, task management, learning, and there are even tools capable of helping you recover stolen property.

Even though the list is not as crucial as the ones mentioned so far, it is undeniable that having it can save you a lot of time if the need for it ever arises. The Internet is a vast sea of both useful and useless tools, and by filtering out those that are irrelevant, you won’t have to conduct countless searches when you are in need of adequate tools for problem solving.

6. List of Self Improvements

“The minute that you’re not learning I believe you’re dead.” - Jack Nicholson

Reasonable to assume this one is unavoidable, and it always deserves to be mentioned. It is safe to assume we are all aware of our shortcomings; if not all of them at least some of them. Think about yourself, make a list of all the things you would like to improve or change, then consider how to implement those changes. Despite the fact that those who are close to you do not pressure you into changing or improving, you should always make constant endeavours to do so, for your own sake.

The list of improvements should consist of physical changes, changes spiritual in nature, abandoning bad habits etc. No one expects you to change entirely in a short time period, but making a decision to change one thing on a yearly basis is a viable resolution, quite easy to execute. The list is there simply to remind you which improvement to prioritize, and build up your confidence after each completion. Refusing to change can either result in lack of confidence and depression, or becoming an overconfident and self-absorbed person that no one will tolerate for long; both of these traits are contradictory to your quest for a successful future.
7. List of Creative Ideas

“Do not go where the path may lead, go instead where there is no path and leave a trail.”
- Waldo Emerson

Throughout history, people who made the most significant impact on the world were those with a revolutionary way of thinking, those who dared to challenge the established order and alter the status quo. For an idea to be classified as creative, it needs to be new, it needs to make sense, and it needs to have some sort of use. For example, creating something to help the disabled communicate online, or simply type—that way, people who have lost their limbs could blog or become creative writers, and show the world a piece of their mind. Thus a keyboard in a form of braces could enable them to type using their tongue; however I am not an engineer, so I do not know whether something like this is possible.

Whenever a new idea comes to your mind write it down, then browse the web to see if you indeed have stumbled upon something ground-breaking. Once your list has grown, then you need to start pondering on the subject to see whether it holds closer scrutiny. Ask for a second opinion and see what you would need to realize your idea. In a majority of cases, this is how successful people are created. Rest assured that it is very possible that people won’t be impressed with your creativity as much as you are, but do not allow yourself to be discouraged—after all, perseverance has a crucial role in a career as well. Monitoring your thoughts incites productive thinking and hones your focus; it keeps our mind occupied. Letting your good ideas slide is only a wasted potential that will put your progress in a halt.
8. List of Future Plans

“The future is uncertain but the end is always near.” - Jim Morrison

We have all heard statements like “Tomorrow is a mystery,” “Live for today,” and “You can’t affect the future.” Personally, I heavily disagree with such a point of view. Although I do agree that, in particular circumstances, making plans for the future is doing Sisyphus work, not planning it at all seems utterly mortifying. I also believe that everyone makes some sort of plan; the problem is this fear of uncertainty that thwarts our will to act.

To make your resolve more adamant, compile a list of your future plans, see what you need in order to make them come true. This one is very similar to the first list—the one with goals; the difference is, it does not have to involve your personal future. Rather, it is list of upcoming important events, important changes in law, or upcoming trends, useful software, etc. It will keep you well-informed and prepared, since staying updated and relevant are essential virtues for lucrative businessmen.
9. List of Contingency Plans

“You pray for rain, you gotta deal with the mud too. That’s a part of it.” - Denzel Washington

Every action has an equal and opposite reaction, meaning there is nothing you can do without consequences. Every attempt to be more successful usually has a set of barriers attached to it, or risks. Even though risks are inevitable, being prepared for the aftermath is always a good and necessary thing. When you plan your business incentives, or when you plan to invest in something, make sure you compose a thorough pros and cons list, as well as a list of possible negative scenarios. In the event that positive aspects outweigh the negative ones, you can be more encouraged to proceed further.

Make an effort to be constantly prepared for the backlash of major initiatives, and contain the possible damage. The lack of contingency implies recklessness, and it was adamantly made clear how this approach contradicts advancement. Make leaps of faith only when you have no other options to explore.
10. Bucket List

“The bitterest tears shed over graves are for words left unsaid and for deeds left undone.” - Harriet Beecher Stowe

Finally, learn to live for the sake of experiencing what life has to offer. It is invigorating, to say the least, and it keeps your regrets at minimum. One of the reasons why we want to be successful is to actually fulfil our dreams or complete our bucket list, to look back on our life during old age with a warm smile rather than a frown. Feel free to put even the impossible things on your bucket list, and find the next best thing using your creativity. Whenever you reach a rough patch in your life, take a look at you bucket list and see what is the most plausible thing to do in order to restore your will power and keep going.
Source: www.lifehack.org

Trading Lessons From Nicolas Darvas

  • There are no good or bad stocks. There are only stocks that rise in price and stocks that decline in price, and that price is based on the laws of supply and demand in the marketplace
  • “You can never go broke taking a profit” is bad advice that will result in over trading and cutting winners short. Selling winners and holding losers is to be avoided at all times
  • There is a “follow-the-leader” style in the market. You will find success by selecting the most active and strongest industry group and trading its top leader
  • The combination of price and increased volume is key to stock selection. Focus your time on new leaders emerging with a new market cycle
  • It is the anticipation of growth rather than the growth itself that leads to great profits in growth stocks. “You have to find out what the public wants and go along with it. You can’t fight the tape, or the public.”
  • One of the quickest ways to lose money in the market is to listen to others and all of their so-called expert opinions. To succeed, you must ignore all outside opinions and predictions. Follow your own strategy!
  • Losses are tuition on Wall Street. Learn from them.
  • You should expect to be wrong half of the time. Your goal is to lose as little as possible when you are. “I have no ego in the stock market. If I make a mistake I admit it immediately and get out fast. If you could play roulette with the assurance that whenever you bet $100 you could get out for $98 if you lost your bet, wouldn't you call that good odds?”
  • Most of your big failures will come from three things: 1) when you abandon your rules, 2) you become overconfident, and 3) trade in despair when unsuccessful
  • The best speculators search only for the very best opportunities. To be truly successful, you must wait for the right opportunities to present themselves and this often means doing nothing for long periods of time
  • The market behaves the way it does due to participants behaving the way they do. No one knows what they will do until they actually do it
  • Long-term investors are the real gamblers in the market due to their eternal hope that losing stocks will come back in price
  • It is difficult to be profitable on the short side of the market versus the long side – trading in rising or bull markets will give you the best chance for success
  • Most, if not all stocks, will follow the general trend of the market
  • To train your emotions, write down the reasons for making every trade. When you lose, write down what you thought contributed to the loss. Then study and set new rules to avoid making those same mistakes
  • Concentrate your trades. At the peak of his success, Darvas would hold only 5 to 8 stocks at one time which was in contrast to his earlier days when he was over trading and would hold up to 30 stocks at a time
  • Avoid fallen leaders. Overhead resistance will keep upside potential limited due to supply from previous buyers who had not cut short their losses. According to Darvas, the only sound reason for a stock is one that is rising in price. If that is not happening, then there is “no other reason worth considering.”
  • Darvas used his “box theory” to trade using boxes to time his entries (on breaking out to a new higher box) and exits (breaking below the current trading box).
  • For new trades, Darvas used “pilot buys” which basically were starter positions in stocks he liked. Only if the stock continued to move higher would he then pyramid and increase his position. He learned never to buy more of a losing position
  • He thought many unsuccessful investors made the mistake of looking at the same familiar names that might have worked well for them in the past instead of focusing on the next stock with the right elements for the new market cycle. “I am only in infant industries where earnings could double or triple. The biggest factor in stock prices is the lure of future earnings. The dream of the future is what excites people, not the reality.”
  • Perfection has no role in successful trading. No one can buy at the absolute lowest price and sell at the highest price. No time or effort should be devoted to that goal. “I never bought a stock at the low or sold one at the high in my life. I am satisfied to be along for most of the ride.”
  • Trade only when the environment is in your favour. Darvas' strategy kept him out of poor and bear markets because he wouldn't trade stocks that didn't fit his requirements which were only found in raging bull markets
  • Be aggressive when warranted. Darvas believed in making aggressive trades when his system pointed to a great trade. In fact, sometimes 50% of his capital was devoted to just one stock
  • While his trading approach was very technical, after studying the market’s winners he understood the relevance of finding stocks also with good fundamentals. Namely, Darvas thought that earnings and the future estimate of increased earnings were very important
  • Be a student of the market. Darvas learned by reading more than 200 books about speculators and the market and devoted studying the market for many hours a day. In fact, Gerald Loeb's books & approach served as key inspiration
  • No one can completely master the market. After millions of dollars and best selling books, Darvas was still learning and tweaking his system until he passed away
Source: www.kirkreport.com

Quote for the day

“No great genius has ever existed without some touch of madness.” - Aristotle