What Separates A Wealthy Mindset From A Poor Mindset

Quote for the day

"You don't need strength to let go of something. What you really need is understanding." - Guy Finley

Learn the 7 Secrets for Building Unstoppable Confidence

Become more powerful and successful in everything you do.

By Lolly Daskal

Building true confidence is a gradual process. No one is going to turn into a positive, self-confident person overnight.

But if you're in need of some extra confidence, here are seven secrets for building unstoppable confidence that are no longer undercover.

1. Stop comparing yourself to others.

The worst thing you can do is compare yourself to others. Remember that you're seeing the surface of their lives, not the underlying reality. Focus instead on what's important--your own strengths and goals.

2. Remember that the loudest is not the most confident.

We tend to look to the blow-your-own-horn types as the confident ones--but some of the most successful people are gentle giants, humble and self-effacing people who turn out to be the strongest, people we admire more and more as we come to appreciate their depth.

3. Keep your limiting beliefs at bay.

Even the most successful people have limiting beliefs about themselves, but the biggest difference is that they choose to focus on their strengths and possibilities instead of their limits.

4. Live in a positive reality.

Don't say anything about yourself that you don't want to become a reality. Positive thoughts and words alone won't make you a more confident person, but confident people do think a lot of positive things about themselves. Remind yourself of what you're capable of and what you've already accomplished.

5. Don't mask it.

Self-confidence isn't the impression you give others but how you feel about yourself. It's all about who you are, where you are, and where you want to be in your own life and leadership.

6. Change what you can.

Confident people know they cannot change the past, but they can change the future. They make daily choices that lead them toward the future they want to live out.

7. Be fully committed.

Be fully committed to doing whatever you can to build your success every single day, and to accepting full responsibility for your life. If it's uncomfortable, you're probably on the right track. Don't procrastinate; do what it takes without agonizing or drama.

These seven secrets can uncover your confidence from within--the kind of confidence that gives you sole responsibility for everything in your life.

Source: www.inc.com/

Quote for the day

"Are you willing to lose money on a trade? If not, then don't take it. You can only win if you're not afraid to lose. And you can only do that if you truly accept the risks in front of you." – Sami Abusaad,

10 New Trader Errors to Avoid

Trading is one of the few professional fields where anyone can go up against professionals very quickly and easily by simply opening a trading account. The barrier to entering the trading world is low and most people can get quick and easy access to trading live markets. There is no college required, no degree, or apprenticeship needed before a new trader steps up to compete in the world markets against seasoned traders and professional money managers. The profitable traders feed off the mistakes of the unprofitable traders. Doing things that put the odds against them cause them to lose money. Here are ten key things that cause losses over and over again and can lead to blowing up an account if not corrected.

1. New traders keep an opinion even after the market has proven them wrong, day after day. A stop loss is there to keep losses small, listen to a stop loss placed in the right price level will save you money.
2. New traders add to a losing trade making it bigger and bigger hoping for a reversal to get the trader back to even. Increasing a trade when on the wrong side of a trend is expensive.
3. Trading a big position size because you are 100% sure that the trade will work out is very expensive when it does not work out. The obvious trades are rarely the good trades.
4. Taking a trade that you do not fully understand can be surprising expensive. It could be wide bid/ask spreads, volatility, liquidity, time decay, implied volatility collapse, leverage, margin, etc. Ignorant trades almost always end badly. Know your trade before you enter it.
5. Being a bear in a new bull market is usually expensive.
6. Being a bull at the beginning of a bear market can be expensive trying to catch falling knives.
7. A trader starts down a dangerous road when instead of taking their initial stop loss when wrong about a trade convert their trading plan to hold and hope. In the markets emotions are expensive.
8. Buying far out of the money front month options with terrible odds of making money usually lead to losses.
9. Risking a large amount of money trying to make a little bit of money is almost always an unprofitable endeavor as a big loss will wipe out a lot of small gains.
10. Trading first before you have done the proper homework on what leads to trading success will lead to paying tuition to other more skilled market participants.

“The key to long-term survival and prosperity has a lot to do with the money management techniques incorporated into the technical system.” -Ed Seykota

“If you diversify, control your risk, and go with the trend, it just has to work.” -Larry Hite.

Quote for the day

"Enthusiasm is that ingredient of vitality mixed with a firm belief in what you are doing that ensures the success of any project you undertake." - Dale Carnegie

7 Errors Traders Make in Bull Markets

By Steve Burns

Here are the seven most common errors traders make in a bull market.

1. They wait for a correction to get long that never happens. So they end up missing a big part of the up trend.
2. They do not get long with a big enough position size or enough leverage so they end up underperforming the market.
3. They do not buy the small dips when they get a chance.
4. Perma bears do not believe in the bullish move higher so they sell short losing money in a market where it should be made easily by being long.
5. Some fundamentalists think the market is too expensive so they stay in cash missing a strong up trend as they wait for buying opportunities at better values.
6. When the dip they were waiting for finally happens they are too scared to buy it and they then begin to fear that the market will crash.
7. Instead of making money too many get obsessed with calling a market crash because they believe the market prices are too damn high.

The best strategy for a bull market is to not fight it but instead sit back and enjoy the ride.

www.newtraderu.com