Wednesday, 29 July 2020

10 Famous Failures That Will Inspire You to Be a Success

By Elizabeth Andal

Failure occurs everyday, in school, jobs, housework, and within families. It is unavoidable, irritating and causes pessimism. While the thought of flinging your hands in the air and walking away is all too appealing, take a second to connect with the people who have been there and survived.

Here are a few successful failures who all failures around the world should consider.


1. J.K. Rowling

During a Harvard commencement speech, Harry Potter author J.K. Rowling outlined the importance and value of failure. Why? Simply because she was once a failure too. A few short years after her graduation from college, her worst nightmares were realized. In her words, “I had failed on an epic scale. An exceptionally short-lived marriage had imploded, and I was jobless, a lone parent, and as poor as it is possible to be in modern Britain, without being homeless. The fears that my parents had had for me, and that I had had for myself, had both come to pass, and by every usual standard, I was the biggest failure I knew.” Coming out of this failure stronger and more determined was the key to her success.

2. Steve Jobs

The now revolutionary Apple started off with two men in a garage. Years later we all know it as a $2 billion company with over 4000 employees. Yet, almost unbelievably, Steve Jobs was fired from the very company he began. The dismissal made him realise that his passion for his work exceeded the disappointment of failure. Further ventures such as NeXT and Pixar eventually led Jobs back to the CEO position at Apple.

“I didn’t see it then, but it turned out that getting fired from Apple was the best thing that could have ever happened to me,” Jobs said in 2005.

Lost your job today? Keep kicking and you could be just like this guy!

3. Bill Gates

Bill Gates was a Harvard dropout. He co-owned a business called Traf-O-Data, which was a true failure.

However, skill and a passion for computer programming turned this failure into the pioneer of famous software company Microsoft ,and the then 31-year-old into the world’s youngest self-made billionaire.

In his own words: “It’s fine to celebrate success but it is more important to heed the lessons of failure.”

This isn’t to say that dropping out of Harvard will make you into a billionaire, but maybe that shiny degree isn’t worth as much as the drive and passion to succeed.

4. Albert Einstein

The word ‘Einstein’ is associated with intelligence and synonymous with genius. Yet it is a famous fact that the pioneer of the theory of general relativity, Albert Einstein himself, could not speak fluently until the age of nine. His rebellious nature led to expulsion from school, and he was refused admittance to the Zurich Polytechnic School.

His earlier setbacks did not stop him from winning the Nobel Prize in Physics in 1921. After all, he believed that “success is failure in progress.” To this day, his research has influenced various aspects of life including culture, religion, art, and even late night TV.

Just because you haven’t achieved anything great yet, doesn’t mean you can’t be an Einstein yourself.

5. Abraham Lincoln

Failing in business in 1831, suffering a nervous breakdown in 1836, defeated in his run for president in 1856, Abraham Lincoln was no stranger to rejection and failure. Rather than taking these signs as a motivation for surrender, he refused to stop trying his best.

In this great man’s words: “My great concern is not whether you have failed, but whether you are content with your failure.”

Lincoln was elected in 1861 as the 16th President of the United States of America.

The amount of rejection you receive is not a defining factor. Success is still within your reach.

6. Michael Jordan


“I’ve missed more than 9000 shots in my career. I’ve lost almost 300 games. 26 times, I’ve been trusted to take the game winning shot and missed. I’ve failed over and over and over again in my life. And that is why I succeed.” This quote by retired basketball legend Michael Jordan in a Nike advertisement speaks for itself.

It would be an easy misconception that Jordan’s basketball skills revolve around natural talent. In fact, in his earlier years, basketball coaches had trouble looking past the fact that Jordan didn’t reach the minimum height. It was years of effort, practice, and failure that made the star we know today.


7. Steven Spielberg

Regarded as one of the most influential filmmakers of all time, Steven Spielberg is a familiar household name. It is surprising to realise therefore that the genius behind Jaws and E.T. had poor grades in high school, getting him rejected from the University of Southern California three times.

While he was in college, he caught the eye of executives at Universal, who signed him as a television director in 1969. This meant that he would not finish his college degree for another 33 years.

Perseverance and acceptance of failure is the key to success, after all. “Even though I get older, what I do never gets old, and that’s what I think keeps me hungry.” Bad grades in high school aside, there is no questioning the genius involved.

To date, Spielberg has directed 51 films and has been awarded three Oscars.

8. Walt Disney

Mickey Mouse creator Walt Disney dropped out of school at a young age in a failed attempt at joining the army. One of his earlier ventures, Laugh-o-Gram Studios, went bankrupt due to his lack of ability to run a successful business. He was once fired from a Missouri newspaper for “not being creative enough.”

Yet today, The genius behind Disney studios is responsible for generations of childhood memories and dreams. From Snow White to Frozen, Disney will continue to entertain the world for generations to come.

The logic behind this is simple: “… we don’t look backwards for very long. We keep moving forward, opening up new doors, and doing new things, because we’re curious… and curiosity keeps leading us down new paths.”

9. Vincent Van Gogh

During his lifetime Vincent Van Gogh suffered mental illness, failed relationships, and committed suicide at the age of 37.

He only ever sold one painting in his life, pinning him a failure as an artist. However that did not put a damper on his enthusiasm and passion for art.

He would never know that years and years after his death he would become known as a key figure in the world of post-impressionism, and ultimately, one of the greatest artist that ever lived. He would never know that he became a hot topic in art classes and his image was going to be used in TV, books and other forms of popular culture.

In the words of this great, but tragic man, “If you hear a voice within you say ‘you cannot paint,’ then by all means paint, and that voice will be silenced.”

10. Stephen King

As a paranoid, troubled child, tormented by nightmares and raised in poverty, it is no surprise that Stephen King grew up to the title: “Master of Horror”.

An addiction to drugs and alcohol were his mechanisms to cope with the unhappiness he felt with his life. The frustration he felt towards multiple rejections by publishers in combination with illicit substances caused him to mentally contemplate violence towards his own children.

These intense emotions were those that he focused onto his writing. This became his new coping mechanism, and this is how the master author we know today grew to success.
Source: www.lifehack.org

Tuesday, 28 July 2020

Quote for the day

"You can be a victim or you can be rich, but you can't be both. Listen up! Every time, and I mean every time, you blame, justify, or complain, you are slitting your financial throat." - T. Harv Eker

Growth Mindset vs. Fixed Mindset


Monday, 27 July 2020

Quote for the day

"I remember saying to my mentor, 'If I had more money, I would have a better plan.' He quickly responded, 'I would suggest that if you had a better plan, you would have more money.' You see, it's not the amount that counts; it's the plan that counts." - Jim Rohn

What Is The Best Trading Method?

By Stephen Burns

“You don’t trade the markets; you only trade your beliefs about the markets.” – Van Tharp

Just like there is no ‘Holy Grail’ trading system that never loses, there is also not one ‘best’ trading method.

All trading methods have good points and bad points with advantages and disadvantages.

Many traders make the mistake of thinking their way is the best and only way to trade. In my experience, I have made money through multiple trading methods and seen other traders do the same. The real keys to profitable trading is in risk management, reactive technical analysis, and discipline not in a specific time frame. There is good news and bad news about every trading methodology. It is not about finding the right trading methodology it is about finding the right trading methodology for you. It has to fit the amount of screen time you can spend trading, your personality, risk tolerance, and account size. It’s not the time frame that you pick to trade that determines your success, but your work in back tests and research of the price action in that historical time frame that makes all the difference.

Day traders: The good news is that you have no overnight risk. The bad news is most day traders watch the market action almost all day long and day trading is the most stressful type of trading for most people. It requires lots of screen time and quick reflexes to take entries and exits.

Trend followers: The good news is that you will be on the right side of major market trends, and you will not have to take very many entries and exits. The bad news is that you will not make money in trendless and choppy markets. Many trend following systems even underperform in range bound markets.

Swing traders: The good news is you are profitable more times than not buying at high probability supports and shorting into resistance levels. The bad news is that in trending and parabolic markets you have to take stop losses quickly or risk big moves against you.

Growth Investors: The good news is that you can buy the stock in a company you study and see the high probability that it will continue to grow, and have rising profits and sales to drive the stock price up. You can make a lot of profits by being in the right company in a bull market. The bad news is that in bear markets the downward storm sinks all ships, even the strongest ones.

Option traders: The good news is that you can control your total risk of loss through contract size, and at the same time capture a move through leverage. The bad news is that options can expire worthless, or go to near zero while you are holding them. Also with options you have to be sure that they are liquid enough to trade, or the bid/ask spread will be very expensive in entering and exiting them. Also, with options, you have to be right about the direction of the move and the time period in which it will take place.

The right question is “What is the best trading method for you?” The best trading method is one that you can stick with and trade over the long term. You need a method that fits who you are and what you want to accomplish as a trader.

Source: www.newtraderu.com

Sunday, 26 July 2020

Quote for the day

"Our incomes are like our shoes; if too small, they gall and pinch us; but if too large, they cause us to stumble and to trip." - John Locke

The 10 Commandments of Emotional Intelligence

These 10 rules will help you make emotions work for you, instead of against you.

Emotional intelligence is the ability to identify emotions (in both yourself and others), to recognize the powerful effects of those emotions, and to use that information to inform and guide behavior.

It begins with learning how emotions work, but it goes much further. Specifically, how do you start putting that knowledge into practice?

That's the topic of my forthcoming book, EQ, Applied: The Real World Guide to Emotional Intelligence. If you'd like a sneak peak, consider how heeding the following "10 commandments" can make emotions work for you, instead of against you.


I. Thou shalt ponder thy feelings.

Emotional Intelligence begins by learning to ask the right questions, like "What is my current mood, and how might that influence my decisions today?" or "What are my strengths and weaknesses?"

This is one way to begin building self-awareness, which will yield valuable insights that can be used to your advantage.

II. Thou shalt learn from other perspectives.

When listening to others, don't focus on right or wrong; rather, work to understand how perceptions differ, and the reasons behind this.

That includes learning to take negative feedback, which can expose blind spots and lead to self-improvement.

III. Thou shalt learn to "pause."

"The pause" is as simple as taking a moment to stop and think before you act or speak. (But beware: While easy in theory, it's difficult to practice.)

Don't expect perfection. But practice consistently, and the pause will prevent you embarrassment and could save countless relationships.

IV. Thou shalt practice empathy.

Instead of judging or labeling others, work hard to see things through their eyes. Ask questions like, "Why does this person feel this way?" and "What's going on behind the scenes?"

Do this, and you'll enjoy a clearer understanding of the world around you, and build deeper, more connected relationships.
V. Thou shalt praise others.

By focusing on the good in others, and then specifically telling them what you appreciate, you inspire others to be the best version of themselves.

VI. Thou shalt apologize.

"I'm sorry" can be the two most difficult words to say. But they can also be the most powerful.

Acknowledge your mistakes and apologize when appropriate, and you'll develop qualities like humility and authenticity, naturally drawing others to you.
VII. Thou shalt forgive.

Refusing to forgive is like leaving a knife in a wound--you never give yourself the chance to heal.

Instead of hanging on to resentment while the offending party moves on with his or her life, forgiving gives you the chance to move on, too.

VIII. Thou shalt not freeze others in time.

Refuse the temptation to judge others too quickly, without considering context and extenuating circumstances. Remember that everyone has a bad day (or even a bad year).

Instead, make it a practice to consistently and honestly re-evaluate your relationships, and you'll be sure to get the most out of them.

IX. Thou shalt control thy thoughts.


When you experience a negative situation, you may not have much control over your feelings. But by focusing on your thoughts, you can control your reaction to those feelings.

As the saying goes: "You can't stop a bird from landing on your head. But you can keep it from building a nest."

When you focus on your thinking, you resist becoming a slave to your emotions. Instead, you acknowledge those feelings and can then move forward in a way that's in harmony with your goals and values.

X. Thou shalt not stop learning.


Emotional intelligence isn't about achieving perfection, or reaching a certain level of "EQ." It's about continuous learning and growth.

Yes, it's often when you feel you've "mastered" one of these 10 commandments that you will make your greatest mistakes. But it is how you handle those mistakes that will determine just how emotionally intelligent you truly are.
Source: www.inc.com