Think and grow rich with little or no work

Think and Grow Rich!: The Original Version, Restored and Revised is a popular book from the twentieth century.

The author, Napoleon Hill, says in the preface that “in every chapter of this book, mention has been made of the money-making secret which has made fortunes for hundreds of exceedingly wealthy men whom I have carefully analyzed over a long period of time”.

In the forthcoming days, I will examine each of the fifteen chapters in that book and describe how I would apply it to trading.

Hereinafter, “Think and Grow Rich” shall be referred to as the “TAGR book”.

Chapter One: Thoughts are Things

The main message in Chapter One of the TAGR book is that continuously dwelling on thoughts of success attracts success into your life. Doing so generates in you a burning desire for a definite outcome that persists despite rejection and past failure.

Here’s my application of this to trading. Every day, imagine yourself trading successfully. Mark your calendar and block off 5 minutes every day at the same time of day to do that. Furthermore, throughout the day whenever you feel like it, repeatedly imagine yourself trading successfully. Write out a script for those sessions of imagining success and follow the script every time. Notice feelings you enjoy while you experience imagining success. Include the requirement of feeling those feelings in the script. That ought to generate the required “burning desire” that Napoleon Hill in TAGR says you need.

The rejection you need to overcome in trading include the negative image of traders sometimes appearing in the news and entertainment media.

The failures you need to overcome in trading include the past losses from being stopped out after a perfect entry, experiencing a loss due to not having a stop, and all other past losses.

In Chapter One of the TAGR book, the author says also that “when you begin to think and grow rich, you will observe that riches begin with a state of mind, with definiteness of purpose, with little or no hard work.

Amen to the “little or no hard work”. After all, trading today involves no more than pushing buttons on a keyboard and clicking a computer mouse. You’ll need to do some weight training to prevent your muscles from atrophying.

...cont'd tomorrow...

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