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Tag: Consistently

  • The Thirteen Steps to Riches, Napoleon Hill – A Brief Look at Each

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    In his book “Think and Grow Rich”, Napoleon Hill talks of the Thirteen Steps to Riches. This information is still as relevant today as it was at the time of publication. This article looks at each of the steps briefly.

    Step 1: Desire

    You need to have a burning desire to achieve success. If you are tentative and timid, then it is not true desire. Have a definite and specific goal for what you want to achieve, and stick to it. Have a plan for how you are going to achieve that goal.

    Step 2: Faith

    Have faith that you really can achieve what you desire. If you have truly believe it, then it is more likely to manifest itself.

    Step 3: Autosuggestion

    Have a mental picture in your mind that you have already achieved what you desire. By replaying this consistently in your mind, you will gain the faith that you need to achieve it.

    Step 4: Specialized Knowledge

    Knowledge is not power, it is potential power. It becomes power if that knowledge is used, and put into definite plans of action. Take the time to learn what you need in order to become an expert in your field of expertise. Associate with others who are already experts and learn from them.

    Step 5: Imagination

    Albert Einstein said “Imagination is everything. It is the preview to life’s coming attractions”. This sums it up beautifully. If you can visualise what you want in life, and then focus on it, it should become a self-fulfilling prophecy.

    Step 6: Organized Planning

    Once you know what your goal is, you need to have a definite and practical plan for how you are going to achieve it. Put the pieces in place that will help you achieve your success.

    Step 7: Decision

    Come up with a firm decision and stick to it. Don’t let others make your decision for you, and don’t delay your decision or procrastinate.

    Step 8: Persistence

    Lack of persistence keeps many people from great accomplishment. Keep working towards your goal, no matter what obstacles get in your way. Many people give up the minute they reach the slightest obstacle. You have to keep rising above the challenges thrown at you, and keep focusing on your end goal.

    Step 9: Power of the Master Mind

    Often those that are close to us will send us off course with their opinions and ridicule. Surround yourself with like minded people, who are all working towards a common goal. By doing this you create synergy, which is an unstoppable force.

    Step 10: the Mystery of Sex Transmutation

    There are a number of different stimulants that increase the intensity of our thought way beyond the realms of ordinary thought. For example love, a burning desire for fame or financial gain, music, fear. The most powerful of these stimulants is that of sex.

    Step 11: the Subconscious Mind

    The thoughts you have determine what you get in your life. Focus on your plan, and imagine that you have already achieved it.

    Step 12: the Brain

    It has been said that we only use somewhere between 5 and 10 percent of our brain. The rest of our brain power forms the subconscious mind, which is what we need to tap into in order to achieve the successes we desire.

    Step 13: the Sixth Sense

    The ability to use the sixth sense is gained when you apply and master all the previous steps. It takes time to develop it, and it is not something that can be switched on and off at will.

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    Source by Kathy Munslow

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  • How to Win Consistently at Trading Forex

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    Trading Forex is a fantastic career or hobby, but unless you are winning consistently then it can be a short lived career or an expensive hobby. The elation of a win is often followed by several losses if you don’t have a serious approach to your money management strategy and control of your emotions. In this article we are going to establish a money management and psychological strategy that will help you win consistently at trading Forex.

    First of all let us look at the trade settings themselves. Now this article is not to define a winning strategy; but to show you that even a strategy that only wins 50% of the time can make consistent returns. You may already have a winning strategy but poor money and psychological management.

    It is important to aim for a 3:1 risk reward ratio. In simple terms; you need to look for trades that can offer you 3 times the return of the potential loss. If you adopt this approach then you only need to win 50% of the time because your wins out way the losses by 3 times. Once you master this rule you are well on your way to a winning strategy.

    Research your trades well and do not jump into the markets without doing your analysis whether that is fundamental or technical. If you can stick to these rules then you are half way to winning the psychological battle as well.

    The biggest issue traders face is getting into trades too early because they think they are going to miss the trade or too late because they were scared to pull the trigger. Leaving a trade too early because they believe it is about to turn against them, only to later watch it hit their, would be, take profit level. Or, equally as common, they let the trade run and run expecting more and more profit only to let all the profit get sucked away in a reversal. There is an old saying amongst successful traders “plan your trade and trade your plan. That is exactly what you should do.

    Don not let your emotions let you take profit early if that was not your original plan. Make sure you plan for the trade turning before your profit level and have a preset plan to take profit. A solid plan is to take profit if the trade has reached 90% of the target and is showing signs of reversal. If you have your stop loss set correctly from your original analysis do not extend it as you are compromising your 3:1 risk reward ratio. Keeping these rules in min is the first step to winning consistently at Forex trading.

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    Source by Adam Woods

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