Being a good trader is about developing certain mental qualities. It is the process of constantly pushing yourself to grow stronger and better.
A profitable trader is not necessarily a good trader. Likewise, a good trader is also not necessarily a profitable one, yet a good trader ultimately finds himself with a much higher probability of being profitable/ of finding success in the long run.
Last month I just re-read Robert T. Kiyosaki’s classic book, Rich Dad, Poor Dad. This is a book I strongly suggest you read for its unique depth, especially when it comes to wealth building, money management, and attitude towards money in general.
In this post, I’m sharing with you 25 inspiring and lesser known quotes I found in the book that will help you gain insight into the way you think about wealth creation.
In short, here’s how: Every day, Do things that are HARD.
Run that extra mile. Read a few more pages. Take that cold shower. Meditate a little longer. Spend a little less time on your phone.
In everything that you do, Push a little harder!
Do your best, no matter what you do.
It’s not the markets that throw us lemons, it’s what we do with them.
Keep this in the back of your mind…
Now imagine you wake up in the morning and you witness a huge gap down in the market – way below your stop. The gap is so large that your trading account is reduced to rubbles.
I know… pretty extreme. But I’m just trying to make a point, so bear with me…
Ok, so you’re traumatized for life!
We’ve all done it before… we have a plan, we come in the market well prepared, but then, we end up behaving in ways that are destructive.
It hurts! So, naturally, we resolve to behave differently in the future.
The entrenched belief is that the way to change behavior A is to begin behavior B.
Mastering any skill takes practice. Practice is the repetition of an action with the goal of improvement, and it helps us perform with more ease, speed, and confidence. But what does practice actually do to make us better at things? This 5-minute Ted Ed video explains how practice affects the inner workings of our brains.
90% of you will read the title of this post, and think you’ve figured out the content.
55% will read the blog post for 15 seconds or less.
Only about 10% will read it thoroughly.
But what’s at play here?