Six steps of Think and Grow Rich

cont'd discussion about Think and Grow Rich!: The Original Version, Restored and Revised , hereinafter referred to as TAGR.

The most important message of Chapter two of TAGR is the six steps listed for turning desire for riches into their physical equivalent. Here are the steps and how I would apply this to trading.

First, describe an exact definite amount of money you desire. In applying this to trading I would use a dollar amount I want each week in daytrading, a dollar amount each month for swing trading, and a dollar amount each year for longer term investing.

Second, describe what you intend to give to get the money. In applying this to trading, I would state that I intend to give 2 hours of my time every day. One hour given to watching live prices and entering orders, 30 minutes to conditioning myself psychologically, and 30 minutes for debriefing the day’s results.

Third, describe the date by which you intend to possess the money. In applying this to trading, I would merely refer to a calendar.

Fourth, describe your plan for attaining the money and begin immediately putting it into action. In applying this to trading, I would write out a trading plan that includes entry criteria, exit criteria, position size algorithms, daily routines, and so on.

Fifth, put the foregoing information in writing.

Sixth, read the written statement out loud twice daily, once in the morning and once in the evening. As you read, see and feel and believe you already have the money. In applying this to trading, I would schedule an appointment with myself by marking off my calendar blocking off time to do this.


...cont'd tomorrow...

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