Secret Psychology of Millionaire Traders by Conrad Alvin Lim

A common complaint that all of us hear frequently is “Money Not Enough! My recent increment is so low!” Do you know why we always hear this comment? Not only because the increment is so low, the inflation rate remains high and even continue to increase over the years! As such, no matter how hard we work to get the annual increment, it is never enough to combat the high inflation rate. This is further aggravated by the low bank’s interest rate. In fact they are reducing their interest rate over the years.

Therefore, many people are exploring other options to grow their money. One of the options is the stocks market. Basically there are two schools of thoughts when it comes to investing the stocks market – be an investor and invest for long term or be a trader and buy and sell within a short period.

Today, the focus of our discussion will be on trading and recently I read this book titled “Secret Psychology of Millionaire Traders by Conrad Alvin Lim”. When it comes to stocks market, we have to decide if we want to be a trader or an investor. Some people plan to be a trader and end up to be an investor when things do not go well as what they plan. You have to decide if you want to be a trader or investor first before you enter a trade, as both require a different trading strategy. We have to be very clear which strategy we want to take.

We have to decide on the reasons why we want to trade and how are we going to achieve it. You must have a strong “Why” in order to be committed to succeed and very naturally your “How” to be successful will lead you to the path to choose. To be successful trader takes lots of discipline and practice. Even though our aim is to get profits, our basic aim is to protect our capital first. We must have the discipline to follow the process diligently. Always have a trading plan in place and stick to the game plan. We must learn to control our emotions so that when it is time to sell and take profit, we have to take action and not to have the greed to take more. When it is time to sell and cut lost, we should not to hold on the stocks hoping that one day it will go up again. Keep your greed and fear in check by strictly adhering to your trading plan. Our rewards come from consistency and patience. Consistency in trading comprises of sustainability, reliability and practice. We must understand our own psychology and the psychology of the market well.

There is no short cut to be a successful trader, we must persevere and we see you at the top!

How to Become a Rainmaker by Jeffrey J. Fox

Recently, I read a book titled "How to Become a Rainmaker - The Rules for Getting and Keeping Customers and Clients" by Jeffrey J.Fox.

After reading the book, it dawned on me that ever since we are born, we become salesperson in our different stages of our life. From baby to toddler, either we act innocent and be good kids or we create a scene by screaming and shouting to make our parents buy the things we want and the attention we seek. When we enter school from primary school to university, we make friends with our school mates and be good students so that we can get what we want from them. Upon graduation from university, we are selling ourselves in front of the interviewer so that we can get the dream job in that company we want. When we start working, regardless we are working in sales department or not, we have both internal and external customers that we have to work with so that we have more sales coming in and that means that we have a higher chance of pay increment and promotion. When we are of marriageable age, we are selling ourselves in front of our the other half and their family to show them that we are the right one for them. Throughout our whole life, we are consistently selling.

Of course, this book is meant more for business purpose rather than personal use, but when you read this book, you can also link certain key lessons to your personal life as well. The reason why Rainmaker is used in this book because the Rainmaker is the salesperson everyone else wants to be. The Rainmaker brings the art of the deal to new levels. He brings in the most money, gets the best paycheck, commands the most respect. Whatever item or service the Rainmaker sells, it is sold effectively and successfully.

I shall touch on a few key lessons of the book and it's best you read the book yourself too so that you can understand more.

1) Customers Don't Care About You

The only thing customers care about are themselves and their problem. Therefore, you do not talk about yourself; rather, you ask probing, preplanned questions. You listen to what the customer says. Clarify. Summarize.

2) Rainmakers Turn Customer Objections into Customer Objectives

Customers always have concerns or issues that must be satisfied before they will buy. Rainmakers welcome customer objections because they know objections are simply the way customers express their desires. The objection tells the Rainmaker that the customer does not yet have enough information to make a positive buying decision.

3) Dare to Be Dumb

Good questions get the customer talking, get information, allow the salesperson to listen, and demonstrate to the customers the salesperson's genuine interest. If you don't do a proper diagnosis, you won't have the correct prescription. Customers love questions, customers love to talk. Customers feel more secure with the salesperson who asks questions and listens.

So the question you have to ask yourself today is "Do You Want to be a Rainmaker of Your Life?"

Unlock Your Personal Charisma by Eric Feng

In this society, it is all about relationships. We are constantly selling ourselves to our family, friends, relatives in our personal life. At work, we are constantly selling ourselves to our bosses, our colleagues and our customers. All of us are in the sales line without us knowing. If that is the case, how do we make ourselves more prominent and more well accepted by others? It boils down to our personal charisma.

Recently, I came across this book titled "Unlock Your Personal Charisma" by Eric Feng. It is a very useful and practical book to teach us how to connect to other parties. If you are in the sales department, this is a must read book for you to increase your sales.

In an Asian society, we tend to be more reserve in creating conversations with others unlike the western society where we can make friends with others within seconds. The key to a successful conversation lies with a strong opener. Learn to listen to others, show genuine care for the speaker and find common ground. We always like to talk to people who are keen in what we are speaking and can understand what we are trying to express. In another words, we are trying to find people similar to us. When people see that you are genuinely have their interests in mind, they will also begin to like you more and able to connect to you more.

In summary, there are eight keys to unlocking your charisma: -

• Connect: Get the other party to like you within seconds
• Have Presence: Be regarded as an equal by high net worth individuals
• Aware: Discover your own unique qualities that make you irresistibly charismatic
• Relationship-focused: Turn the other party into life-long fans
• Influence: Speak the language of top sales professionals and find the fastest way to a "yes"
• Standing out: Position yourself as an expert and become highly visible
• Modeling: Uncover vital behaviors that set the exceptional salespeople apart from the rest
• Altruism: The master key to getting anything you want from life

Winning The Game Of Life

It has been 2 years since I last updated my blog. Time passed so fast that I did not realise that I have not updated my blog since. So what have you been doing for the past 2 years? Have you been actively pursuing your dreams? Or are you still in your dreamland?

Recently, I read this book by Adam Khoo "Winning the Game of Life!" and this left me ponder whether am I closer to achieve my dreams or am I still at the same spot?

This is a very good book to inspire us to excel and pursue our dreams actively. Like what the book states "Develop the Winning Mindset and Success Strategies to Overcome Defeat, Achieve Lasting Success & Happiness".

Our life is a journey and so is our success. In order to be successful in the future, you have to see yourself as a successful person TODAY and you will start to think and act like one, attracting even more success into your life. This is what many people term as "The Law of Attraction". Of course, during the period when we pursue success, we bound to meet obstacles. Always treat each obstacle as a learning experience so that you will know what works and what doesn't. Never let obstacles stop you from being successful. So you must dare to DREAM BIG and go for it with ALL YOUR HEART.

All of us must have the HUNGER for SUCCESS, so how much do you want to earn per month? No matter how much you want to earn, you have to make it a 'MUST' for you to earn that amount, so that you will have a higher chance to achieve that amount. Always GET OUT OF YOUR COMFORT ZONE. It is by getting out of your comfort zone, then you will have the drive to exceed, so whatever goals you seek - be it financial or others, it must be something that it is not easily attain.

When you get out of your comfort zone, you must constantly practice and do it so that you can excel and get closer to your dreams. There is no free lunch in this world, you have to put in hard work and effort in order to achieve. Same goes for those world class sports players, they practice constantly and consistently before they participate in a competition.

Sometimes, fear will stop us to pursue our dreams as we are scared to explore the world of unknowns. However, if we see the other side of the coin, fear also tells us to be better prepared. If you get better prepared, it will actually reduce the fear in you.

We only LIVE ONCE and LIVE IT to the FULLEST. Let us work hard together and ACHIEVE OUR DREAMS TOGETHER