Winning with Mindset

Transcription

1 Presents Winning with Mindset With Bill Corcoran

2 I am not a registered broker-dealer or investment adviser. I will mention that I consider certain securities or positions to be good candidates for the types of strategies we are discussing or illustrating. Because I consider the securities or positions appropriate to the discussion or for illustration purposes does not mean that I am telling you to trade the strategies or securities. Keep in mind that we are not providing you with recommendations or personalized advice about your trading activities. The information we are providing is not tailored to any particular individual. Any mention of a particular security is not a recommendation to buy, sell, or hold that or any other security or a suggestion that it is suitable for any specific person. Keep in mind that all trading involves a risk of loss, and this will always be the situation, regardless of whether we are discussing strategies that are intended to limit risk. I am not subject to trading restrictions. Myself and other instructors could have a position in a security or initiate a position in a security at any time.

3 THE WEALTHY MINDSET

4 A Few Questions First Please write down your answers. Where is the Universe? Do you consider yourself attractive? In your opinion what makes a wealthy person deserving of their wealth? Have you earned the right to have more money than your neighbor? A child is given a choice between two toys and he/she demands both toys. How would you describe this behavior? Define and justify your self worth.

5 Let s Talk Are you satisfied with your trading? Do you find yourself making the same mistakes over and over? Do you sometimes wonder if this will ever work? Do you sometimes feel like you are working against yourself?

6 Let s Talk Good news! You are not alone. It is likely that every trader has experienced what you are going through. Trading is a difficult and fickle, if it were easy Now that we know we aren t the only one screwing this up, let s fix the root problem.

7 Let s Talk Bad news! You are the problem. Really it s the stuff you were taught as a kid. And the fact that you haven t changed that thinking as an adult. How do I know? Go back to the first slide.

8 Let s Talk Are you satisfied with your trading? Do you find yourself making the same mistakes over and over? Do you sometimes wonder if this will ever work? Do you sometimes feel like you are working against yourself?

9 Think What are you thinking about? What are you REALLY thinking about? What are you OBSESSED about? THAT will happen. The other stuff that you think about or daydream about, it won t happen.

10 And Grow Rich What we think about we bring about. What we think about with emotion we bring about quickly. What we obsess over, focus on, can t get out of our head, keeps us up late and wakes us up early, will inevitably end up in our life.

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12 Think And Grow Rich Written in 1937 by Napoleon Hill Well over 100 million copies in print. Over 1 million millionaires credit their success to this book. Is considered the how-to manual on becoming wealthy. When is the last time you read it?

13 Think And Grow Rich Napoleon Hill found that there were certain traits common to all successful people. These traits could be learned and duplicated. Key among these traits is an understanding of the Secret Law of Attraction It is the literal recipe for financial success. When is the last time you read it?

14 Think And Grow Rich The teachings in Napoleon Hill s book are not taught in school nor are they taught by parents. In fact your parents probably taught you how to avoid the law of attraction. The most critical teachers in your life probably taught you how to be really good at being broke. Were you taught to rich by people who were broke?

15 Attraction The Law of Attraction is a certain as the Law of Gravity. It will work on you regardless of whether you believe in it or not. Whatever you focus on, hold front of mind or obsess over will be attracted to you, because you will become attractive to it. The key is to create a singular, burning all consuming desire and to visualize yourself already in possession of it.

16 The Universe Where is the Universe? Would it be fair to consider our subconscious mind as nearly infinite in it s reach and potential? Could we consider our subconscious mind as our own internal Universe. This is an interesting theory because it takes us out of the realm of supernatural forces and puts us in the easier to grasp realm of mental programming.

17 The Role of the Subconscious Did you forget to breathe today? Do you still remember how to ride a bike? Did you have to think about what route you would take to work today? Have you ever caught yourself doing something while deep in thought about something completely unrelated? Your subconscious mind is capable of hundreds of simultaneous tasks but it is incapable of discerning reality from what is imaginary. It is the pre-programmed autopilot that guides us through our day.

18 The Role of the Conscious Our Conscious thinking mind can only focus on one or two tasks at a time. It can solve complex problems, avoid danger, plan, coordinate and interact with others. Your conscious mind is keenly aware of what is reality and what is imagined. It can be brought to focus on a task immediately. It exists primarily in the present though it can access memories and can plan for the future. Your conscious mind s efforts are often directed by the subconscious. Once the subconscious is programmed it will guide the conscious mind based on that programming.

19 Programming the Subconscious Our subconscious mind is programmed through what we hear, see, smell and feel. Most of this programming happens when we are very young. The programming becomes persistent and habitual. Reprogramming is possible but can be a lengthy process. Self talk is crucial to programming/reprogramming the subconscious.

20 The Power of Affirmations Studies show that we have over 50,000 conversations with ourselves every day. Most of these conversations are a repeat of what was said to us a young children. This constant soundtrack plays to our subconscious and is the programming of the subconscious mind. If that programming is negative, pessimistic, anti-wealth etc. then the conscious mind is guided to a path that leads to these things becoming a reality. If the programming is positive, optimistic and abundance oriented then the conscious mind is guided to a path that leads to opportunity, wealth and happiness.

21 The Power of Affirmations Reprogramming is an intentional replacing of the negative self talk soundtrack with one that is positive. In the beginning this has to be an intentional act. Over considerable time this will result in a habitual repetition of these positive affirmations. The positive self talk programming starts to guide the conscious mid into the flow of abundance and opportunity. If the programming is positive, optimistic and abundance oriented then the conscious mind is guided to a path that leads to opportunity, wealth and happiness.

22 The Affirmations To be effective affirmations must be present tense. Affirmations that trigger an emotional response will work fastest. Avoid words like want and need as these tend to attract more want or need. I am a money magnet. I am attractive to.. Wealth finds me. Positive affirmations must be intentionally fed into the daily stream of self talk, especially to interrupt negative affirmations.

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24 Behavior and Mindset Rich Success is an obligation Invests Thinks both Financial Plan Make it happen Reads Solutions Pays self first Goal Driven Broke Success is evil Spends Thinks one or the other Has a Budget It happens to him Watches TV Problems Pays others first Work Driven

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26 The Process The process tells us who is worth the outcome. If it were easy everyone would do it. The greater the outcome, the more trying the process. It is a recipe and you can t change the recipe without changing the result.

27 Just Add Desire Decide what you want Focus entirely on that Believe it is possible Get out of your comfort zone Learn Visualize Let go Act as if you already have it Be afraid and do it anyway Pay the price Learn more Be Persistent Constantly Improve

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29 Become Attractive Surround yourself with success! If you want to attract something (or someone) doesn t it make sense that you should become attractive to it? How you look, dress, speak and act should be aligned with what you are trying to attract. Success finds success.

30 MINDSET AND TRADING

31 Trading Success in trading requires a specific mindset. A negative mind will never create a positive net worth. Your thoughts will determine your actions. Your actions will determine your success.

32 Failure to Enter a Trade Causes Include: Lack of confidence Lack of belief Lack of education Lacking self worth Fixes Include Charting practice, 10K reps Practice Trades, 10K reps Affirmations on your value and worth

33 Failure to Exit a Losing Trade Causes Include: Lack of education/understanding Money hoarding Shame Success avoidance/self sabotage Fixes Include Charting practice, 10K reps Practice Trades, 10K reps Affirmations on your value and worth

34 Failure to Exit a Winning Trade Causes Include: Lack of education/understanding Opinion fixation Self sabotage Fixes Include Charting practice, 10K reps Practice Trades, 10K reps Affirmations on your value and worth Neutral language to eliminate opinion

35 Exiting a Winning Trade Too Soon Causes Include: Lack of education/understanding Money hoarding Recency Syndrome Self sabotage Undisciplined stops on losing trades Fixes Include Charting practice, 10K reps Practice Trades, 10K reps Affirmations on your value and worth Neutral language to eliminate opinion Look away!!!!

36 Two Wolves An old Cherokee is teaching his grandson about life. A fight is going on inside me, he said to the boy. It is a terrible fight and it is between two wolves. One is evil he is anger, envy, sorrow, regret, greed, arrogance, self-pity, guilt, resentment, inferiority, lies, false pride, superiority, and ego. He continued, The other is good he is joy, peace, love, hope, serenity, humility, kindness, benevolence, empathy, generosity, truth, compassion, and faith. The same fight is going on inside you and inside every other person, too. The grandson thought about it for a minute and then asked his grandfather, Which wolf will win? The old Cherokee simply replied, The one you feed.

37 I am not a registered broker-dealer or investment adviser. I will mention that I consider certain securities or positions to be good candidates for the types of strategies we are discussing or illustrating. Because I consider the securities or positions appropriate to the discussion or for illustration purposes does not mean that I am telling you to trade the strategies or securities. Keep in mind that we are not providing you with recommendations or personalized advice about your trading activities. The information we are providing is not tailored to any particular individual. Any mention of a particular security is not a recommendation to buy, sell, or hold that or any other security or a suggestion that it is suitable for any specific person. Keep in mind that all trading involves a risk of loss, and this will always be the situation, regardless of whether we are discussing strategies that are intended to limit risk. I am not subject to trading restrictions. Myself and other instructors could have a position in a security or initiate a position in a security at any time.