"When you talk or IM about the day’s trading, pay attention to how you describe the markets: good, bad, quiet, active. Listen especially for the tone of your descriptions. Many times, your tone and language will give away whether you’re in tune with markets or fighting them. If you become caught up in what you think the market should be doing, you’re most likely to fight it when it does something else." - Brett Steenbarger
A Strong Trading Mind
- Thread starter amitrandive
- Start date
Success is nothing more than a few simple disciplines, practiced every day; while failure is simply a few errors in judgment and attitude, repeated every day. Some things in life, you have to do every day. Most people think of eating seven apples on Saturday night instead of eating one apple a day thinking that it is going to make them healthy - Jim Rohn
14 Lessons We Can All Learn From “The Wolf of Wall Street”
http://addicted2success.com/success...-from-the-wolf-of-wall-street-jordan-belfort/
Build a Business
1. Execute on Ideas
Stratton Oakmont’s initial success was based on two premises:
• That Belfort had come up with a way of teaching young, uneducated people how to sound like professional stock brokers over the phone.
• That rich people love to gamble – especially when the gamble seems like a legitimate business opportunity.
While there had been other people on Wall Street who’d had the same idea, Jordan Belfort was the first person to execute on this idea.
2. Simplify
The reason Belfort was able to transform young, uneducated people into charismatic stock brokers was because he was able to impart his knowledge by giving simple instructions in a way that even the most stupid employees could easily understand.
“And as word of this little secret began to spread throughout Long Island—that there was this wild office, in Lake Success, where all you had to do was show up, follow orders, swear your undying loyalty to the owner, and he would make you rich—young kids started showing up at the boardroom unannounced.” – Jordan Belfort
3. Put Together a Loyal Team
Guys like Kenny Greene and Danny Porush weren’t the smartest guys around. But, they were long-term friends who were fiercely loyal to Jordan Belfort.
What does this mean?
That it might be a good idea to work with old friends who knew, and liked you, before you got rich and successful. By doing this you will reduce the risk of:
• Becoming betrayed or backstabbed by two-faced people.
• Making stupid decisions because you’re surrounded by yes-men who don’t give you accurate feedback.
4. Diversify Competence
Why were Jordan Belfort and Danny Porush a good team?
Because they were very different:
• Belfort had sleeping problems. Porush could fall asleep everywhere – even during bumpy plane rides.
• Belfort was a highly strategic leader who specialized in delegation. Porush was a good enforcer –brutal enough to eat a gold fish to put employees in their place.
• Belfort was analytical and had a long-term orientation. Porush was emotional and short-sighted.
They were both good at different things – but together they were a great combination.
Do Business
5. Dress for Success
From day one, employees were instilled with the mantra that they had to act as if – starting by dressing well and looking the part. The purpose of this was to improve their self-esteem and charisma.
Jordan Belfort even hired a guy to create tailor-made suits for the up-and-coming employees of Stratton Oakmont.
6. Gather Intelligence on Rivals and Enemies
Belfort gathered intelligence by:
• Bugging the SEC people who were investigating Stratton Oakmont.
• Befriending FBI agent Jim Barsini and getting information about the ongoing investigation on Stratton Oakmont.
7. Guard Your Secrets
Jordan Belfort carefully guarded his secrets by:
• Drafting legal documents to create plausible deniability for shady deals.
• Having the office of Stratton Oakmont and the houses of the top employees swept for bugs regularly.
• Never speaking over the phone about past business deals.
• Using pay phones and other covert forms of communication to ensure that no one listened in on what was being said.
Note: While your business probably differs from Belfort’s by being legal, it’s still a good idea to gather intelligence. For example, you might meet an employee of a rival firm for drinks to learn about the internal gossip going on over there.
8. Study History and Learn From Past Mistakes
Said by Belfort to a Swiss “master forger” while discussing banking laws:
“I’m a student of history, Roland, and I’m a firm believer that he who doesn’t study the mistakes of the past is doomed to repeat them”. – Jordan Belfort
You should follow Belfort’s example by:
• Studying past events in your profession to see what it was that made other people succeed or fail.
• Studying the great men who came before you.
Create an Enticing Company Culture
9. Establish a Concrete Reputation
There was never any doubt to the employees, nor the public, that anyone could make a ton of money by working for Stratton Oakmont. To confirm this, the only thing you had to do was take a look at the young, racially diverse, sometimes acne-ridden, well-dressed young men that spread havoc on Long-Island.
“The very idea of Stratton is that it doesn’t matter what family you were born into, or what schools you went to, or whether or not you were voted most likely to succeed in your high-school yearbook. The idea of Stratton is that when you come here and step into the boardroom for the first time, you start your life anew. The very moment you walk through the door and pledge your loyalty to the firm, you become part of the family, and you become a Strattonite.” – Jordan Belfort
10. Create a Set of Core Values that is Easy to Grasp
The core value of Stratton Oakmont was to seize the day. What this really meant to the employees was to:
• Make as much money as possible.
• Compete with colleges who could spend more money and live a crazier and more luxurious lifestyle.
–And what are some common core values of contemporary companies?
• Sustainability.
• Environmental friendliness.
• Integrity.
Which core values do you think are easier to communicate to the employees and make them live by?
11. Lead by Example and Set the Standard
No one over at Stratton Oakmont spent more money on buying luxury items, drugs, prostitutes, or partying than Jordan Belfort. He represented the epitome of the lifestyle that the employees sought to achieve.
“It’s important to keep these guys chasing the dream. And it’s even more important to keep them broke.” I gestured over to the plate glass. “Look at them; as much money as they make, every last one of them is broke! They spend every dime they have, trying to keep up with my lifestyle. But they can’t, because they don’t make enough”. – Jordan Belfort
12. Create Expectations
At Stratton Oakmont employees were expected to work their asses off and make a lot of money. Anything else was frowned upon.
“A rookie stockbroker was expected to make $250,000 his first year. Anything less and he was suspect. By year two you were making $500,000 or you were considered weak and worthless. And by year three you’d better be making a million or more or you were a complete f#%$ing laughingstock.” – Jordan Belfort
13. Provide Incentives for Hard Work
Not only were the employees of Stratton Oakmont paid far above the going rate for stock brokers – but a select few of the hardest working employees were also eligible to branch out on their own and start brokerage firms under Belfort’s guidance.
“It was what every Strattonite dreamed of and something I touched upon in all my meetings—that if you continued to work hard and stay loyal, one day I’d tap you on the shoulder and set you up in business. And then you would get truly rich.” – Jordan Belfort
14. Keep People Dependent on You
To ensure that employees were not only motivated to work, but literally had to stay at the firm and continue making lots money, Belfort encouraged employees to live beyond their means.
“I want you to deal with all your problems by becoming rich! I want you to attack your problems head-on! I want you to go out and start spending money right now. I want you to leverage yourself. I want you to back yourself into a corner. Give yourself no choice but to succeed. Let the consequences of failure become so dire and so unthinkable that you’ll have no choice but to do whatever it takes to succeed.” – Jordan Belfort
http://addicted2success.com/success...-from-the-wolf-of-wall-street-jordan-belfort/
Build a Business
1. Execute on Ideas
Stratton Oakmont’s initial success was based on two premises:
• That Belfort had come up with a way of teaching young, uneducated people how to sound like professional stock brokers over the phone.
• That rich people love to gamble – especially when the gamble seems like a legitimate business opportunity.
While there had been other people on Wall Street who’d had the same idea, Jordan Belfort was the first person to execute on this idea.
2. Simplify
The reason Belfort was able to transform young, uneducated people into charismatic stock brokers was because he was able to impart his knowledge by giving simple instructions in a way that even the most stupid employees could easily understand.
“And as word of this little secret began to spread throughout Long Island—that there was this wild office, in Lake Success, where all you had to do was show up, follow orders, swear your undying loyalty to the owner, and he would make you rich—young kids started showing up at the boardroom unannounced.” – Jordan Belfort
3. Put Together a Loyal Team
Guys like Kenny Greene and Danny Porush weren’t the smartest guys around. But, they were long-term friends who were fiercely loyal to Jordan Belfort.
What does this mean?
That it might be a good idea to work with old friends who knew, and liked you, before you got rich and successful. By doing this you will reduce the risk of:
• Becoming betrayed or backstabbed by two-faced people.
• Making stupid decisions because you’re surrounded by yes-men who don’t give you accurate feedback.
4. Diversify Competence
Why were Jordan Belfort and Danny Porush a good team?
Because they were very different:
• Belfort had sleeping problems. Porush could fall asleep everywhere – even during bumpy plane rides.
• Belfort was a highly strategic leader who specialized in delegation. Porush was a good enforcer –brutal enough to eat a gold fish to put employees in their place.
• Belfort was analytical and had a long-term orientation. Porush was emotional and short-sighted.
They were both good at different things – but together they were a great combination.
Do Business
5. Dress for Success
From day one, employees were instilled with the mantra that they had to act as if – starting by dressing well and looking the part. The purpose of this was to improve their self-esteem and charisma.
Jordan Belfort even hired a guy to create tailor-made suits for the up-and-coming employees of Stratton Oakmont.
6. Gather Intelligence on Rivals and Enemies
Belfort gathered intelligence by:
• Bugging the SEC people who were investigating Stratton Oakmont.
• Befriending FBI agent Jim Barsini and getting information about the ongoing investigation on Stratton Oakmont.
7. Guard Your Secrets
Jordan Belfort carefully guarded his secrets by:
• Drafting legal documents to create plausible deniability for shady deals.
• Having the office of Stratton Oakmont and the houses of the top employees swept for bugs regularly.
• Never speaking over the phone about past business deals.
• Using pay phones and other covert forms of communication to ensure that no one listened in on what was being said.
Note: While your business probably differs from Belfort’s by being legal, it’s still a good idea to gather intelligence. For example, you might meet an employee of a rival firm for drinks to learn about the internal gossip going on over there.
8. Study History and Learn From Past Mistakes
Said by Belfort to a Swiss “master forger” while discussing banking laws:
“I’m a student of history, Roland, and I’m a firm believer that he who doesn’t study the mistakes of the past is doomed to repeat them”. – Jordan Belfort
You should follow Belfort’s example by:
• Studying past events in your profession to see what it was that made other people succeed or fail.
• Studying the great men who came before you.
Create an Enticing Company Culture
9. Establish a Concrete Reputation
There was never any doubt to the employees, nor the public, that anyone could make a ton of money by working for Stratton Oakmont. To confirm this, the only thing you had to do was take a look at the young, racially diverse, sometimes acne-ridden, well-dressed young men that spread havoc on Long-Island.
“The very idea of Stratton is that it doesn’t matter what family you were born into, or what schools you went to, or whether or not you were voted most likely to succeed in your high-school yearbook. The idea of Stratton is that when you come here and step into the boardroom for the first time, you start your life anew. The very moment you walk through the door and pledge your loyalty to the firm, you become part of the family, and you become a Strattonite.” – Jordan Belfort
10. Create a Set of Core Values that is Easy to Grasp
The core value of Stratton Oakmont was to seize the day. What this really meant to the employees was to:
• Make as much money as possible.
• Compete with colleges who could spend more money and live a crazier and more luxurious lifestyle.
–And what are some common core values of contemporary companies?
• Sustainability.
• Environmental friendliness.
• Integrity.
Which core values do you think are easier to communicate to the employees and make them live by?
11. Lead by Example and Set the Standard
No one over at Stratton Oakmont spent more money on buying luxury items, drugs, prostitutes, or partying than Jordan Belfort. He represented the epitome of the lifestyle that the employees sought to achieve.
“It’s important to keep these guys chasing the dream. And it’s even more important to keep them broke.” I gestured over to the plate glass. “Look at them; as much money as they make, every last one of them is broke! They spend every dime they have, trying to keep up with my lifestyle. But they can’t, because they don’t make enough”. – Jordan Belfort
12. Create Expectations
At Stratton Oakmont employees were expected to work their asses off and make a lot of money. Anything else was frowned upon.
“A rookie stockbroker was expected to make $250,000 his first year. Anything less and he was suspect. By year two you were making $500,000 or you were considered weak and worthless. And by year three you’d better be making a million or more or you were a complete f#%$ing laughingstock.” – Jordan Belfort
13. Provide Incentives for Hard Work
Not only were the employees of Stratton Oakmont paid far above the going rate for stock brokers – but a select few of the hardest working employees were also eligible to branch out on their own and start brokerage firms under Belfort’s guidance.
“It was what every Strattonite dreamed of and something I touched upon in all my meetings—that if you continued to work hard and stay loyal, one day I’d tap you on the shoulder and set you up in business. And then you would get truly rich.” – Jordan Belfort
14. Keep People Dependent on You
To ensure that employees were not only motivated to work, but literally had to stay at the firm and continue making lots money, Belfort encouraged employees to live beyond their means.
“I want you to deal with all your problems by becoming rich! I want you to attack your problems head-on! I want you to go out and start spending money right now. I want you to leverage yourself. I want you to back yourself into a corner. Give yourself no choice but to succeed. Let the consequences of failure become so dire and so unthinkable that you’ll have no choice but to do whatever it takes to succeed.” – Jordan Belfort
Motivation along with Talent is far better than Talent alone.
Your passion combined with Motivation and Talent will always take you to places you have never imagined.
Just came across a fantastic resume on the net.I am speechless!!!
:clapping::clapping::clapping:
Check the entire resume here.
http://www.nina4airbnb.com/
Your passion combined with Motivation and Talent will always take you to places you have never imagined.
Just came across a fantastic resume on the net.I am speechless!!!
:clapping::clapping::clapping:
Check the entire resume here.
http://www.nina4airbnb.com/
If you feel overwhelmed just try to relax and look for one positive thought. Every good thing begins with one positive thought. You don't need to change everything in your life instantly. All you need is one positive thought. You can hold-on to that thought, and it will remind you that there is hope. One simple, positive thought is enough to make it all worth it. All your troubles, struggles, pains, and suffering is worth one good thing. Those good things come to us just when we need them the most, like an angel throwing us a life-preserver before we go under the waters of despair. One positive thought can save your life or the life of another. One positive thought is the miracle for which you have been waiting. One positive thought will shift the entire world under your feet. One positive thought is something you can accomplish. One positive thought is the victory you need today!
— Bryant McGill
— Bryant McGill
Every Husband Should Read This
Source:Internet
“Love her …when she sips on your coffee or tea. She only wants to make sure it tastes just right for you.
Love her…when she "pushes" you to pray. She wants to be with you in Jannah (Paradise).
Love her…when she asks you to play with the kids. She did not "make" them on her own.
Love her...when she is jealous. Out of all the men she can have, she chose you.
Love her…when she has annoying little habits that drives you nuts. You have them too.
Love her…when her cooking is bad. She tries.
Love her…when she looks dishevelled in the morning. She always grooms herself up again.
Love her…when she asks to help with the kids homework. She only wants you to be part of the home.
Love her...when she asks if she looks fat. Your opinion counts, so tell her she's beautiful.
Love her…when she looks beautiful. She's yours so appreciate her.
Love her...when she spends hours to get ready. She only wants to look her best for you.
Love her…when she buys you gifts you don't like. Smile and tell her it's what you've always wanted.
Love her…when she has developed a bad habit. You have many more and with wisdom and politeness you have all the time to help her change.
Love her…when she cries for absolutely nothing. Don't ask, tell her it’s going to be okay.
Love her…when she suffers from PMS. Buy chocolate, rub her feet and back and just chat to her (this works!).
Love her…when whatever you do is not pleasing. It happens and will pass.
Love her…when she stains your clothes. You needed a new shirt anyway.
Love her…when she tells you how to drive. She only wants you to be safe.
Love her…when she argues. She only wants to make things right for both.
Love her…she is yours. You don't need any other special reason!!!
All this forms part of a Woman's Character. Women are part of your life and should be treated as the Queen.
• Treat the women well.
• The best of you are those who are the best in the treatment of their wives.”~*~
Source:Internet
“Love her …when she sips on your coffee or tea. She only wants to make sure it tastes just right for you.
Love her…when she "pushes" you to pray. She wants to be with you in Jannah (Paradise).
Love her…when she asks you to play with the kids. She did not "make" them on her own.
Love her...when she is jealous. Out of all the men she can have, she chose you.
Love her…when she has annoying little habits that drives you nuts. You have them too.
Love her…when her cooking is bad. She tries.
Love her…when she looks dishevelled in the morning. She always grooms herself up again.
Love her…when she asks to help with the kids homework. She only wants you to be part of the home.
Love her...when she asks if she looks fat. Your opinion counts, so tell her she's beautiful.
Love her…when she looks beautiful. She's yours so appreciate her.
Love her...when she spends hours to get ready. She only wants to look her best for you.
Love her…when she buys you gifts you don't like. Smile and tell her it's what you've always wanted.
Love her…when she has developed a bad habit. You have many more and with wisdom and politeness you have all the time to help her change.
Love her…when she cries for absolutely nothing. Don't ask, tell her it’s going to be okay.
Love her…when she suffers from PMS. Buy chocolate, rub her feet and back and just chat to her (this works!).
Love her…when whatever you do is not pleasing. It happens and will pass.
Love her…when she stains your clothes. You needed a new shirt anyway.
Love her…when she tells you how to drive. She only wants you to be safe.
Love her…when she argues. She only wants to make things right for both.
Love her…she is yours. You don't need any other special reason!!!
All this forms part of a Woman's Character. Women are part of your life and should be treated as the Queen.
• Treat the women well.
• The best of you are those who are the best in the treatment of their wives.”~*~
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