Facts Versus Opinions

Published on Wednesday October 23rd, 2013 at 09:34PM

In The Name of GOD, The Guide, The Light

The intent of this article is to share some enlightenment on trading in my 4 years of journey as a trader.

Quote:

I run into my fair share of people that think I'm totally wrong when it comes to money. Often these people are very loud and adamant in their disagreements with me, and they want to argue their point.

I always hope that I'll get arguments with facts involved. I'm happy to engage with, and learn from, facts. Unfortunately, a lot of times what I get is a bunch of opinions.

Above is a quote from one of my mentors - Robert Kiyosaki, The owner of the famous Rich Dad Poor Dad, that I want to share in relation to trading.

In my experiences as a Relationship Manager, talking to traders, beginners and seasoned alike; I have come across various set of mentalities, mindset and psychology that not only help me understand them better, but also help me better in understanding myself. At the end of the day, I always find humility as my best company as I concluded that all of this knowledge and skills indeed are gifts from GOD that could be taken away at any time.

I have came across traders who are so indulged in their own method and system and claimed it's the best and the rest are ponies. I have came across traders with super pseudo names that walk with arrogance and want to be respected and treated like royalties. I have also came across silent traders who just mind their own business and keep their success a secret and only shows humility. At the end of the day, we are all just human, and when we die the only thing that count is our deeds - good or bad.

So the only thing that is an asset or liability is ourselves. It is how we perceive ourselves and want to be perceived, that make us as who we are. What we think of ourselves as traders, is what make us the kind of trader we are and how we behave is going to shape other's perception towards ourselves. It's the struggle between the internal and the external self. What manifest outside is the perfect reflection of what is going on inside.

Thus, if we were to become a successful trader, then we must start to think like one. What does successful traders think? If there is one thing that make any trader successful, it will be risk management. And risk management has two components - money management and trade management. The latter is often ignored though it is the other key that make our account grow so much faster than without one.

Are these facts? or just opinions?

Tell me what you think..Feel free to comment..

GOD Bless

HalalPips

Note:

The prologues to this blog could be found here:

http://www.richdad.com/Resources/Rich-Dad-Financial-Education-Blog/October-2013/the-importance-of-facts-versus-opinions.aspx