A Changed of Mindset

Hello My Blog,

Well, it seems like I am the only one viewing my own blog of outdated posts and non-structural posts and what-the-hell-is-this-guy-trying-to-say posts. But hey, it is my blog anyway.

So here;s something I decided to post after a number of seminars I attended and some books I read.

1) Technical Analysis Master Class (Feb 09)
Thin is an intense 2 days class by a local Singapore Guru. Well, he do not think of himself as a guru but a kind hearted soul to share his leanings. But this guy is damn good OK. Anyway, I happen to have a great discount for this class and that's explain why I am there.

Down to business. I discovered that he always use "Business" to describe all his trading. It kept me thinking for a while and after reading 3 of his books, it struck to me that trading itself is a business. If you do not have a mindset to protect you investment like a physical business, trading is just another "casino" gambling. You will not think of the risk level, the profit actions and the money management. So yes, MINDSET is the 1st important think in trading.

And also this Guru advocate on Psychology as the most important part in trading. Again this is tie in closely to mindset. You must be prepared mentally and plan your game.

See, for so many TA class I attended only this Guru talk about mindset and psychology. And I respect him for that. He also taught how to read the chart in terms of what people are "feeling". He mentioned that you must understand what people are doing in this counter and how will they react to changes. And lastly, you do not predict the direction just find the trend and react with the trend.

Lastly, he introduced a unique way of candlestick reading and other technical indicators reading. This alone is a very exploring journey for me. I am still thinking and learning his "way" BUSINESS.

Did I mentioned that he pulled himself to "millionaire" dollar table through trading ? And a trading platform in USA is actually taking his inputs seriously to perfect their system. And this Guru is bringing in this system to Singapore. Another respect level from me.

2) Passive Income
In my earlier post, I mentioned about a 4 days intense workshop I attended last year. Although that workshop had ended, my mind is still hanging on to the lessons taught. I looked more seriously into my monthly budget. (super details) And I am planning my future needs with numbers and setting my "GOALS".

Am I have been looking into Internet marketing and finding out how people do it. Well, a lot of websites or seminars will promise "get rich" quick schemes. But I would say, MINDSET is again in play here. Internet marketing is also another BUSINESS. You need a plan, actions & learning to get it started and get it going and bring in the money.

Like my other Millionaire Guru said, there is no free lunch in the world (everybody knows this but ...) and you will not be a superstar after the workshops or seminar. It all begin after the workshop and seminar. YOU have to take charge and take action. (easy to write but not easy for everyone to follow)

So, I have been spending time to digest all the teaching from the GURUS and planing my path. I am dedicated not to reply 100% on my employment income but to build up a passive income streams. I want to enjoy my employment in fact and not worry about pay raise, bonus, layoff ... times are really super duper bad now.

3) BOOKS BOOKS & BOOKS
I have recently break my own records for completing 2 books in 14 days. And these 2 books started all my though process about money and trading. These books were written by my Guru's teacher (1 super millionaire & 1 super trader) - Did I mention that they scold people in their class after having to pay them 4 figure fees.

Now I have in my collection 7 books & 1 candlestick cards from my Gurus. (all read in record time) And another 7 books I bought from Amazon and Boaders while I was in USA last December 08.

All these books are around 3 main areas. 1) Money management 2) Trading 3) Internet marketing.

My Model to be successfule; 2 Local Singapore GURUS

My Belief will be to provide a carefree and comfortable environment for my dearest wife and my children (in the making) without the worries of money and time. In fact time is the only thing we had to worry.

And my GOAL are;
1) Start a passive income stream by 2009 end
2) Start losing money consistently in trading by 2009 end

Well, this is the longest post I had so far and I hoped this will be a record for myself to check back in a few months time on my progress.