Member You - Finance

Project Management, A Forgotten Perspective
Effective project managers know how to get the job done, and get it done right. Success comes not only from wise selection of the team members and utilization of the best project management software tools; effective managers know how to lead, and how to encourage project team members to do their best. This includes clearly setting and communicating project goals, providing proper training and/or equipment, as well as other necessary items and expertise. Effective project management also requires constant re-evaluation of your performance as the project leader. The most effective form of leadership is by example. If your team members see that you strive to live up to the high standards you require from the project team, they will inevitably be more productive.Set Attainable goals. Project managers should clearly define the objectives of the assignment and then see that each stage of the project plan has reasonable milestones that mark the accomplishment of the included tasks. All project team members should be aware of the project goals, and un

g you again in the future.

PPS There may be an idea there for an article for your newsletter about the challenges for new traders, psychology and CFD's....

The stock market can provide the most expensive education possible.

Its times like these that traders have to make the decision to quit and walk away completely …….. or pull themselves away from physically trading, consider what they did, what lessons they learnt, then very importantly seek out the education to put themselves back on track .

As we have shown in our newsletter, through the work of Dr Brett Steenbarger, Brian McAboy and Catherine Taylor, the subject of trading psychology is a

The Tidal Wave Sale
In a sales interaction with a prospective client, I offered several solutions to his particular situation. I had asked him several questions, and upon determining his needs, presented a variety of different answers. I told him about the corporate programs I deliver, recommended one of my public workshops, suggested that he register for my newsletter, and asked him to complete a questionnaire that would help identify where he and his team could improve. When I hung up the phone, it dawned on me that I may have presented too many solutions, too quickly.Sadly, I had fallen prey to using the tidal wave sales approach (please don’t chastise me and tell me I’m insensitive – it has nothing to do with recent world events). Unfortunately, I never heard from this person again, even though I tried to contact him by telephone and email.A tidal wave sale happens when you overwhelm your customer during the sales process. In other words, you bowl them over with too much information or too many ideas in an effort to close the sale. Here is another example:

To date, in our newsletter we have mainly concentrated on trading stocks and Exchange Traded Funds. We understand that some of our members also trade derivatives such as options, warrants and CFD’s.

We consider these to be the domain of experienced traders only, particularly as they are leveraged products which work both ways – they have the potential to magnify losses as well as gains.

We suggest that traders should learn how to successfully trade stocks profitably for a few years first – to master their skills in analysis, money and risk management – before you consider trading leveraged products.

It was with great concern that we received the following from one CFD trader this week:

“Hi,

I have decided to stop trading for 6 months due to "blowing out" my CFD trading account through some poor position sizing and risk management. Nothing I couldn't afford to lose, but I can't afford to lose any more.

As such - I wish to remove all possible trading distractions and hence I request to cancel my subscription as per your one month notice policy. I liked the newsletter and was considering signing up for Boot Camp, but I am afraid I no longer have the funds to trade and really need to reset.

I can see now why CFD's are not much better than poker machines for those people who understand the odds against putting hundreds of dollars into a poker machine and don't play them. (Like myself)

CFD's seemed like a good way to trade on a small account ($5K), but the ease of trading, the commissions on trades (I spent $1000 on commissions when I totalled it all up last week - 20% of my account), the large share parcels on small stop/losses, slippage from gaps all contributed.

The major factor though was some false confidence that I thought I knew what the market was going to do next and so what I thought was trading was probably more punting. In addition, some seminars, trading books, newsletters and software packages added another $5K to the losing experience.

I have decided to step away from trading for 6 months (I have to – my wife won't give me any more of our holiday savings at the moment) - save some capital and re-launch with some education... I will keep an eye out on your web site for the next Boot Camp later in the year.

I will contact you in the future and perhaps re-launch my trading with one of your Camps.

Thanks and regards

John M

PS Thanks again for your interest which I do appreciate - you are no doubt extremely busy… to take the time to personally respond for a $30/mth subscription cancellation email has been one of the positives in my current trading career to date. I look forward to joining you again in the future.

PPS There may be an idea there for an article for your newsletter about the challenges for new traders, psychology and CFD's....

The stock market can provide the most expensive education possible.

As we have shown in our newsletter, through the work of Dr Brett Steenbarger, Brian McAboy and Catherine Taylor, the subject of trading psychology is a c

2005's Bankruptcy Laws Make Filing More Difficult
It used to be that you could simply file for bankruptcy if you got into too much financial trouble. Or at least that was the mindset of many consumers in the U.S.Despite the 2005 changes in bankruptcy law, many consumers still think that if all else fails, they can simply file for bankruptcy. That isn't always the case now.It seems as if there were simply too many people getting out of debt by filing bankruptcy. Many lenders and banks began to complain about the systematic abuse of bankruptcy by gamblers, compulsive shoppers and others.So last October, the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 went into effect. There were some big changes for consumers contemplating bankruptcy. You need to be aware of these changes in deciding whether or not to file for bankruptcy.If your income isn't below the median income for families the same size of yours in your state, you'll be required to go through a bankruptcy test to see if you qualify to file for debt forgiveness, also known as Chapter 7 bankruptcy. If the cou

from one CFD trader this week:

“Hi,

I can see now why CFD's are not much better than poker machines for those people who understand the odds against putting hundreds of dollars into a poker machine and don't play them. (Like myself)

I will contact you in the future and perhaps re-launch my trading with one of your Camps.

Thanks and regards

John M

PPS There may be an idea there for an article for your newsletter about the challenges for new traders, psychology and CFD's....

The stock market can provide the most expensive education possible.

As we have shown in our newsletter, through the work of Dr Brett Steenbarger, Brian McAboy and Catherine Taylor, the subject of trading psychology is a

Free Movie Clips
Movie clips are vignettes that clue viewers in to the story, artistry, and action of a movie. They are enticements to attract the viewer to watch the entire feature film. Clips may show background scenes, set design, action cuts, director’s introductions, technicians and actors discussing the movie, or they may be used to create hype about a new movie.Movie clips are mostly free, financed by the studios that produce the movie. They appear at a carefully planned time in selected media building up hype reaching a peak around the movie’s premier date. Advertising agencies or movie companies themselves design the movie clips, sorting out the best moments of a movie to woo the filmgoer to come to the theatre and spend his precious dollars to watch the film.Movie clips centered on a particular theme are also common. This includes short movie clips, children’s movie clips, Disney movie clips, and funny movie clips. Fans of certain actors also organize movie clips like James Bond movie clips and Mae West movie clips. Film based movie clips are free unl

tting hundreds of dollars into a poker machine and don't play them. (Like myself)

I will contact you in the future and perhaps re-launch my trading with one of your Camps.

Thanks and regards

John M

PPS There may be an idea there for an article for your newsletter about the challenges for new traders, psychology and CFD's....

The stock market can provide the most expensive education possible.

As we have shown in our newsletter, through the work of Dr Brett Steenbarger, Brian McAboy and Catherine Taylor, the subject of trading psychology is a

The Importance of a Great Cover Letter
You’ve seen a want ad for a job that seems to be the perfect fit for you. You really want to impress the employer, so you set out to write a cover letter that really sizzles. But, somehow, you can’t seem to find the right words. You’re not certain where the line can be drawn between recognizing your accomplishments and bragging. In short, you’re stumped.It is important to realize that there is an art to writing an effective cover letter. However, you don’t need to be born with this particular artistic skill. It can be developed in a relatively short period of time. Still, you might be wondering just how important it is to write a great cover letter.The fact is, without a stellar cover letter, chances are you will not be able to land an interview. While a resume is certainly important, it doesn’t tell the full story. That’s why you need an effective cover letter. It introduces you to the employer, outlines why you’re the best candidate for the job, and encourages the employer to find out more about you.Obviously, without an inte

have decided to step away from trading for 6 months (I have to – my wife won't give me any more of our holiday savings at the moment) - save some capital and re-launch with some education... I will keep an eye out on your web site for the next Boot Camp later in the year.

I will contact you in the future and perhaps re-launch my trading with one of your Camps.

Thanks and regards

John M

PPS There may be an idea there for an article for your newsletter about the challenges for new traders, psychology and CFD's....

The stock market can provide the most expensive education possible.

As we have shown in our newsletter, through the work of Dr Brett Steenbarger, Brian McAboy and Catherine Taylor, the subject of trading psychology is a

10 Business Street Smarts
Many business owners or people who are about to start a business have idealistic views about their new venture. People who are experienced in business know that there are some basics and some fundamentals that you must get right if you are to succeed. This article outlines a list of "Street Smarts" which have been distilled from the knowledge and experience of many successful business people. Read them carefully!1. The fatal mistake of many business people – thinking that because they are a good mechanic, baker, accountant, that they understand what it takes to run a mechanical business, bakery business, accountancy business. The most important skill for any business person is to know how to run a business. How much management & business & marketing training have you invested in yourself?2. Make sure you clearly understand the concept of working on your business as distinct from working in your business. The most successful business owners spend a great deal of time working on their business – learn from them! Read The E Myth by Michael Gerber

g you again in the future.

PPS There may be an idea there for an article for your newsletter about the challenges for new traders, psychology and CFD's....

The stock market can provide the most expensive education possible.

As we have shown in our newsletter, through the work of Dr Brett Steenbarger, Brian McAboy and Catherine Taylor, the subject of trading psychology is a cornerstone to trading and investing success. Over the past year we have particularly come to appreciate the coaching work of Catherine in helping traders around the world understand themselves better, set goals and strive to achieve more.

Following up on John’s suggestion for an article about the “….. challenges for new traders, psychology and CFD's”, we invited Catherine to comment on John’s situation from her perspective. We thank her for her reply:

Dear John

Ouch! My heart hurt when I read your story. It reminded me of two famous quotes:

“Men are disturbed not by things that happen, but by their opinions of the things that happen.” Epictetus (55-135) and

“Failure is the opportunity to begin again more intelligently.” Henry Ford

It's painful to see someone withdraw from trading or any game due to some poor decisions and lack of knowledge.

The way I see it is if you could actually attend Boot Camp and stay with the newsletter, you could not only turn your trading around with time, but also your esteem, confidence and life in general.

The following is from Robert Kiyosaki, who literally slept in his car after his first business failed and before he wrote his best selling book ‘Rich Dad, Poor Dad’:

"Most people choose not to be rich. For 90% of the population, being rich is 'too much of a hassle.'

So they invent sayings that go, 'I'm not interested in money.' Or 'I don't have to worry, I'm still young.' Or 'When I make money, then I'll think about my future.' Or 'My husband/wife handles the finances.'

The problem with those statements is they rob the person who chooses to think such thoughts of two things: one is time, which is your most precious asset, and two is learning.

Just because you have no money, it should not be an excuse not to learn. But that is the choice we make daily, the choice of what we do with our time, our money and what we put in our heads. That is the power of choice. All of us have choice. I just choose to be rich, and I make that choice every day.

INVEST FIRST IN EDUCATION. In reality, the only asset you have is your mind, the most powerful tool we have dominion over."

I think you have to admit Robert has got a great point there. I have personally worked with Robert and I know he has an insatiable appetite for knowledge. Knowledge is fundamental to winning in any game. By allowing yourself the opportunity to attain more knowledge, you then have the opportunity of turning your game of trading around.

Success is the goal of any trader in the market with visions of increased income, ever increasing capital and a lifestyle to their making.

By definition, succes

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