A method of marketing products and services through independent representatives who refer customers to the Multi-Level Company they represent is what we call MLM or Network Marketing. It is one of the fastest growing businesses today. In fact, it is not an industry but simply a marketing method for moving product from Point A to Point B. In relation to this fact, people become curious more and more about MLM. Thus, ending them up with the question “Which MLM business should I engage in?” “Which one is the best for me to join?”
Mandura is a company with headquarters in Florida. It is one of the multi-level marketing companies in the Health & Wellness sector. It is a company with a different model for income distribution than the familiar network models have to offer. In a way it is an MLM that is not an MLM.
They promote one of the best antioxidant fruit juice on the market. It is said to be formulated with four of the world’s most nutrient-rich fruits, with an end supplement that is preservative-free and highly-nutritional. The four fruits are Blueberry, Durian, Mangosteen and Acai berry. These fruits can benefit many people who do not have enough fruits in their diet and who may need additional antioxidants to maintain wellness.
The question now is “Is Mandura the best one for an individual to join?” Unlike any other MLM Companies that were designed to build downline to earn, Mandura is designed in a straight line format. What is a straight line format? It is a format wherein it allows each and every person to benefit from the effort of the entire team. One more thing, in Mandura, your sense of Ownership is real. You can manage your own operations. In Mandura the phrase is Independent Business Ownership (I. B. O.) unlike on the other company, a member is addressed as a distributor.
Right now, Mandurais in the right place at the right time with some powerful and rapid growth as a company. But on the other side of the story, it is still believed by some marketers in the industry that the compensation plan that the company offers easily dies out compare to the traditional one. So if you really are serious in joining Mandura then you must have the right skills of marketing for you to survive in the competition in the marketing industry. Bear in mind that though you are engage in a good company but you lack the capabilities and great strategies, for sure you will just be a shadow and will be out of track. A well firmed business is what you want so start your business knowing you are equipped with a great set of marketing skills.
Thousands of people have benefited from reading Kenny Gregg’s . Kenny is an expert on attraction marketing in the MLM profession, and if you want to learn and master his secrets to growing a Network Marketing Empire, visit
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I am sure you can relate to me that when your friends and family see you coming they want to run and hide. I know mine did. For four years I always had a business opportunity I was going to get them into and get them RICH. Now with the Wealthy Affiliate program, you can just take them to dinner (on you) and not even talk about business unless they bring it up.
I was introduced to this Internet marketing training system and did the one dollar test drive and my business started to pick up. I signed up for the complete Wealthy Affiliate membership and was introduced to multiple streams of income and an automatic system that has made my business incrase ten fold and still climbing.
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How Can Minimum Wage Pay Turn To Career Success? Minimum wage pay is 7.25 per hour. It has gone up seventy cents since last year. That seems like nothing compared to inflation of gas prices and food prices. But adding that seventy cents on per hour for one year, people can make 15,000 a year. Making 15,000 a year with a minimum wage job is better than living on the streets. There are a lot of minimum wage jobs that just about any one can do. There is a cafeteria attendant, busing tables, washing dishes. You could work in a fast food place, as a gaming service worker, a bell hop at hotels, and even a bartender. All these jobs pay minimum wage. Now these might not be you choice of a job, especially if you came from a high paying corporate position. But, believe it or not with the amount of money you make per year you can turn that into a huge career for yourself, here are a few options. You could save a little money here and there and buy into a franchise, if the banks will even loan to you right now. You could buy a foreclosed house, but you may have to hold it for awhile until the market goes back up again, or you could get an internet marketing business. One thing about an internet marketing business is, there is no recession on the world wide web. With an internet marketing business, there is very little cost up front. All you need is a computer and an internet provider. No experience needed, so you do not have to school to have to learn anything. A good internet marketing business will teach you how to be a good marketer. You do not have to have any experience and you can do it from the comfort of your home or anywhere you want. You can continue to work your minimum wage job and then work your internet business for a few hours a day. That may seem like a lot of work, but not near as much if you put all your time and effort into the corporate world or with a franchise and never have any time off. With an internet marketing business you can do all free advertising to make money. Once you start making the money you want, you can quit your minimum wage job and have a very successful career at home, in your pajamas, and never have to worry about working for someone else or money again. You will be able to go to all your kids sports activities and watch them grow up. So turn your minimum wage paying job into a career success and watch your life and kids grow.
Julianne Rowat, the author, has other articles and videos on motivational and self improvement. She is an internet marketing consultant that enjoys helping others with different types of advertising to grow their business without all the expense. If you want to know more about her, visit her blog at: or her website at:
To start a talent agency with a modicum of staying power, you’ll need to be keenly observant of everything you do. Obviously, lacking the much needed wisdom coming from years of experience in this line of work, you are quite likely to succumb to some of the inevitable pitfalls that can be found along the path of establishing a name for yourself, and in this industry, this may prove quite destructive. In truth, the primary driving factor in this line of work is your reputation… and due to this, your primal start in this field will decide the ultimate fate of your agency – whether it takes off and succeeds or crashes and burns outright. Even the tiniest disappointment your starry-eyed, perfection-expecting clients have can brand you as “the agency that sucks”, to be avoided at all costs, with just a few cell phone text messages in a mere matter of minutes. Sounds a mite horrific, doesn’t it? So, what can a newbie do?
The benefit of years, perhaps decades of experience in this particular part of the entertainment field is pretty much a requirement. However, as should be plainly obvious to anyone, if you’re just beginning to start a talent agency, such experience is something you’ve likely haven’t a bit of. This is the reason we need to benefit from the wisdom of those who have attained such experience for years before us. Some have had very long and successful careers in this line of work, and now retired, seek to take on more challenging work. These masters mentor those of us out there in the world who are just beginning in this field.
If you start a talent agency under the guidance of these wise sages, we can learn from their many years of experience and reap the fruits of their hard-earned wisdom. This mentoring is precisely what we need to begin our business properly and gain a lasting foothold in this industry, and avoid the many mishaps that can befall us while learning the secrets of the trade in order to really help our agency grow and thrive in the entertainment business.
If you want step by step advice on how to set up your own talent agency from the man who worked with John Travolta & Hootie and the Blowfish head over to
Far too many businesses fail entirely or fail to even approach their true profit potential. This is an embarrassing fact, and one that can be changed. Personal issues are the origin of a large number of business problems. A pattern of errors and missed opportunities in the business world often corresponds to poor time management and inability to conduct finances in the business owner’s life. Exacerbating this is the fact that even many high educated ones are not aware of the foundational principles of business management. Everything coalesces to lead to the overall failure of business.
Ask yourself how, exactly, you define “success”. Are you completely sure about what constitutes the running of a business geared toward success? Consistency and quality are two aspects that are all-essential to a business; they can make or break its reputation and future, and positively or negatively impact its bottom line. Perhaps you are inconsistently doing all the right things or consistently doing all the wrong things. Consistency is definitely the key to success in business. If you focus on providing high quality services and products, the chances of business to endure and succeed increase dramatically. There are no medals for mediocrity in this game.
Plan carefully and thoroughly, and also creatively. Ensure that you consider and assess a broad range of details. Planning will set you firmly on the path to achieve success, regardless of what kind of business you are in.
Setting realistic but robust goals for both business and personal life is absolutely crucial. You will know exactly where you stand if at any point you fail because the whole journey is planned out in stages. The more carefully constructed your goals are, the greater your sense of real direction and route in your business venture. It’s easy to be sidetracked and pulled off the path to success if you don’t have goals to guide you.
Consistency is difficult to maintain. Think about this – are you currently able to provide customer service at the same standard on a regular basis? Is every product you sell of a consistent, high quality? Does your product or service reliably maintain its quality from one purchase or use to the next one?
Develop a Unique Selling Proposition (USP) to distinguish your business from the competition. A USP must convey the message that those who enter into business transactions with you are at an appreciable advantage. Your USP also needs to live up to its name: that is, it must be unique. Overused and meaningless phrases like “highest quality” or “best service” won’t cut it, so don’t be lazy and use them to describe your services. Customers will be unmoved. Concretize and quantify – there must be a specific thing your target customer wants.
Developing a great USP means never being forced to sell on price. The trick is to actually get your USP out there – you’ll be going already a step farther than many other rival businesses. Next, push your USP marketing strategy into the market, let the world know that you’ve got what it takes and nobody else has what you’ve got. Do it over and over. There is no single opportune moment, no precisely perfect message. Your USP is the message, so let the marketing speak for your business.
You can’t afford to wait until your marketing satisfies your doubtless superior standards. Executing a decent marketing plan puts you in the field – you’ll have plenty of time and opportunities to fine-tune it. If your actual USP message is solid, you will float and maybe even fly.
Simon Johnnson is the director of content for Executive Gift Shoppe. They specialize in and .Article Source:
CMMB On the one hand only TD terminals, and are also subject to the profit model is not clear, develop into Miju. This is precisely the analog TV handsets provide a good industrial environment.
In China Mobile and China Mobile on the CMMB wide co-operation projects have been formally signed, the part of the opportunism of the final result of illegal domestic sales of mobile phone brand GSM mobile phone standard CMMB relevant state departments have suffered heavy fines.
Recently, this reporter visited a number of cell phone stores and found that the previous best-selling Sky CMMB mobile phone has been removed counters, leaving only a small number of analog TV signals mobile phones. “Some time ago manufacturers face severe punishment once, and now can not sell GSM standard CMMB mobile phones, but not any TD’s CMMB mobile phone users to buy, why not do CMMB mobile phone manufacturers have basically had.” Its mobile channel for official told reporters.
Currently, CMMB mobile terminal due to fees and restrictions on the industry chain manufacturers have suffered a “cold treatment.” In this case, the users demand for mobile TV is so that analog mobile TV show under adverse growth. Science and technology according to the Thai King, chairman of cloud Vijay to the “Communications Weekly” (net) at the press disclosed that so far Telegent analog mobile TV chips have accumulated shipments of over 50 million, significantly exceeding the company’s targets, and with the the increase in users, chip shipments are still further increased.
CMMB in bottleneck
From a technical perspective, analog television signals to the band’s profit margins are too low, poor quality, mold rpm (analog signal transduction digital signal) is an unstoppable trend. However, due to analog television has cultivated the habit of watching TV for free, user fees for these reforms are bound to face enormous difficulties.
“In the global markets, there is no one digital mobile TV operators in the case of successful operation. Because the analog signal into a digital signal process, requires a lot of network construction costs, but most operators rely on user fees to recover, but the allow users to shift from the free charges it is very difficult. “Telegent chairman Vijay clouds analyzed the situation when in an interview that the immediate difficulties faced by CMMB short period of time can not be solved. “So in a very long time, analog TV and digital TV will co-exist, but also to some extent, analog mobile TV will be more popular.”
Analog TV mobile phone growth in times of adversity
Market research and consulting firm InStat analog mobile TV released a white paper shows that in the next few years or even longer period of time, the world’s population has more than 85% of people will be able to continue to receive analog TV signals. This is further strengthened, including Thai King, including analog TV mobile phone industry chain manufacturers confidence.
Thai King’s chief executive officer Vijay Cloud said: “and fee-based digital TV mobile phone compared to free wireless receiver for mobile TV success was due to two major driving factors. The first is content, in fact the consumers watch content with their traditional TV viewing on the content of the same; The second is that global coverage, enabling consumers to virtually anywhere in the world watching. “
InStat’s FrankDickson, vice president of research, said: “analog mobile TV has two very basic and very compelling advantages: cost and availability. Analog TV infrastructure already exists, no need to formulate new standards, and the business to consumer who is free of charge. “
According to InStat predicts that in 2009 the worldwide analog mobile TV subscribers will reach 54 million, while in 2013, the worldwide analog mobile TV subscribers will grow six-fold to 3 million people.
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In all honesty, whenever I’ve travelled anywhere in the 42 countries I have provided business consultant services in, every business owner and private consultant only relates Liverpool, Merseyside to the two great football teams and the globally recognised band The Beatles.
In reality Merseyside consultants are delivering business strategies for both in-house and outsourced consultancy Merseyside. Just as Liverpool maintains two famous football teams in the UK premier league, it also boasts of a premier league buoyant business consultant industry. Consultant services for just about every north west consultant is exceeding demand.
Any premier league service lives or dies on the strength of the success of the previous consultant work provided. A key performance indicator is whether the support consultant was able to offer far more value than cost,and steer the business he or she was supporting into long term sustainable business growth.
Many factors dictate the success of the consultant services provided. Typically a business owner calls in a UK consultant when their business is growing too slow, or too fast for comfort, known in the consultant industry as boom and bust. Or when a business has hit the financial tipping point, or when a business is in trouble. Or finally when the business is seeking to grow exponentially. I’ll discuss these points later in this article.
It is rare for a business owner to call upon a support consultant or a private consultant when their business is just ticking along nicely. However in reality, every professional north west consultant has identified that this is the precise best time to retain someone from the consultant industry.
Prior to & during 2008, Merseyside consultants and business strategies delivered by consultancy Merseyside came under intense media scrutiny. Investment poured into Liverpool for its European Capital City of Culture status.
Just about every north west consultant was engaged as a support consultant for Merseyside consultant work. Consultant services boomed as local businesses prospered thanks to every uk consultant in the consultant industry.
Many key business strategies were identified by Merseyside consultants, which if applied can assist all others identify business problems before they manifest, and help other businesses turbo charge their business growth.
Merseyside Consultants Outline Consultancy Merseyside Business Strategies #1 Slow Business Growth
It’s no great secret that a very high percentage of new business ventures fail and close down within the first year. This attrition rate continues at high levels for the following two to four years. One of the greatest problems facing new business owners is that they simply don’t know – what they don’t know.
Small to medium business owners fail to realise that one of the things that separates them from larger companies is that they don’t have the benefit of a board of directors.
In reality the added value that most board members bring to a business is individual business skills, which when harnessed as part of a larger business development team, ensures a higher percentage success rate at a quicker pace.
However, when your business is experiencing slow business growth, one of the best business strategies is to tap into the consultant industry and engage a support consultant or a private consultant to assist you in achieving faster business growth.
Consultant services brings added value to a business that is experiencing slow business growth. You may be pleasantly surprised at the low cost of hiring a north west consultant for your consultant work. UK consultant fees are very reasonable in today’s current economic downturn
Merseyside Consultants Outline Consultancy Merseyside Business Strategies #2 Boom And Bust
97% of business owners have never received any formal business academic training in how to be a managing director, or in how to implement business strategies. Every private consultant knows it is the managing director’s role to manage the business, so every UK consultant understands why so many businesses fail in the first 12 months.
Consultant services advise that because of this lack of business training, many managing directors try to run before they have learnt to walk the business walk. Although a proven business growth support consultant once advised me that Impatience is a virtue, this doesn’t count for an inexperienced MD where patience is definitely the virtue required.
As a north west consultant providing consultant work for various businesses this boom and bust is one of the consultant industry greatest problems.
Merseyside Consultants Outline Consultancy Merseyside Business Strategies #3 Business In Trouble
The consultant industry is no stranger to assisting businesses in trouble, and as a north west consultant, I have seen a sharp increase in the number of businesses in trouble.
In this regard, my consultant work and consultant services are geared towards getting the business owner to take two steps backwards in order to take one positive step forward.
I once heard a private consultant in America refer to this as ‘circling the wagons.’ Whatever phrase you assign to it, one thing is certain. The first rule of being in business trouble is to get out of business trouble. Business owners should not be embarrassed about seeking business consultancy advice and support.
Merseyside Consultants Outline Consultancy Merseyside Business Strategies #4 Financial Tipping Point
In my role as a north west consultant two of the last few businesses I provided my consultant services to, had reached what the consultant industry calls the financial tipping point.
This is when a business typically navigates through the most difficult first few years and experiences some initial growth, only to find their annual turnover is not increasing any more. I’ve also heard a UK consultant call this ‘hitting the wall.’ Whichever phrase you use, reaching the financial tipping point is a very precarious period for any business.
Any private consultant or support consultant retained by you to deliver consultant work will advise you that a few companies will bumble along for a year or two at that tipping point. But be advised, that most businesses who have reached the financial tipping point will only spiral downwards into liquidation at a fast rate of Knots.
Merseyside Consultants Outline Consultancy Merseyside Business Strategies #5 Exponential Growth
Any UK consultant worth their salt will understand the importance of getting all the business owners ideas for business growth into a concise strategic plan specifically designed to aid exponential growth.
During the pre-capital culture year in Liverpool, every north west consultant engaged in consultant services would have had much hands on practical experience of this type of consultant work.
In order to get exponential business growth right, a business owner requires expertise from the consultant industry. Retaining a support consultant should only be considered if the UK consultant has proven experience in steering a business or ideally businesses into exponential business growth.
It is sometimes difficult to get this skill set from an individual private consultant unless he or she is affiliated to one of the larger consultancy groups.
The International Business Guru & Growth Consultant grows businesses fast delivering exponential growth, increased turnover & profit margins. He delivers business support to small, medium & large businesses in 42 countries. To claim his FREE business case files e-mail him at drmarkdyates@aol.com
What does it mean to live a spiritual life… to really, truly, deeply live from the place of ease, grace, joy and love no matter what shows up in the world around you? This is a question I’ve been pondering for a few months now, and one that is getting answered as I face some challenges and changes in my life, business and family.
Living a spiritual life isn’t about skirting along the surface of understanding; rather it’s about being willing to look for deeper meaning, understanding, lessons and gifts in every moment of your life.
Like right now, for instance. Are you fully here, in this moment reading and absorbing this article (and giving yourself the focus and time you deserve to be fully present)? Or, are you reading this article with a dozen other things running through your mind feeling stressed about how much you have to do and how little time you have to do it in.
I’m simply asking you to notice what you’re doing right now. It’s only in stopping to notice what you’re doing that you can begin to uncover the gems that are waiting in each moment for you, including this one.
This consistent “noticing,” awareness and presence in each moment is what living the spiritual life is all about. Being spiritual doesn’t mean you have to retreat to a mountain top in India for a month of meditation. And, it isn’t something you do at your convenience when you feel you need it because the “going got tough.” Living a spiritual life is as simple as choosing to not get angry when someone cuts you off on the highway… and instead choosing to bless them with love and pray for that driver’s ease and safety. It means embracing a spiritual way of being in every moment of every day (or at least noticing when you have contracted into fear, doubt, anger, lack, etc. and doing something to shift into a higher state of being).
On the flip side, it’s also important to see that living a spiritual life isn’t about how peaceful, loving and connected you feel when you are alone with yourself. Yes, it includes that, but the spiritual “rubber hits the road” when you move into aligned and integrated action in the physical realm.
This is the most critical part of the journey of living a spiritual life… that you learn how to integrate what you’re experiencing in you inner world with how you show up in the outer world. This is part of why the outer world of my business will be transforming and shifting in the coming months… because I am transforming and shifting on the inside and I’m seeing things in my business (and my life) that no longer feel aligned with who I am today.
So, in closing, I’m going to recommend that you to take five minutes right now to ask yourself how you’re doing living your spiritual life and jot down whatever comes to you. If you have questions write them down; if you think I’m crazy write that down, too. If you’re resonating with this question and yearn to live a more aligned, expanded and spiritual life in every area, including your business… then write about what that might look like for you. Please give yourself the gift of a few minutes (right now) to reflect on this question. Your freedom may very well reside in what you’ll discover.
Christine Kloser, author of The Freedom Formula, helps small businesses put soul in their business and money in the bank. If you want to enjoy a purpose-driven business and a soulful life, send for my free Conscious Business Success Kit, which includes my report, How to Avoid the 3 Massive Mistakes Made by Conscious Entrepreneurs and audio, 7 Strategies Entrepreneurial Authors Need to Know Before Writing a Word, at .
A famous quote says “Your attitude today determines your success tomorrow”. The most valuable asset you can possess is a positive attitude towards your life. Your attitude determines how much success you can achieve in all aspects of your life. Your attitude is also one of the first things people notice about you, and impacts on all the business and personal relationships you will have. Positive attitude is not a product of heredity; but with proper training, anyone can acquire this important trait.
If your attitude is not positive, then you can use some tools to do an “attitude tune-up”.
1. You must understand the power of attitude Your attitude is the most powerful tool for positive action that can help you become successful, so you will need to understand this before you can work on the following steps towards adjusting your attitude for the better. Your attitude impacts on everything you do, the way you think and your motivational levels. In order to turn your attitude around and get into action towards your goals, you need to be able to consistently fight any negative or pessimistic thoughts that you may get. You need surround yourself with positive things and people, and you need to keep on your ultimate goal of achieving the success and wealth you want.
2. You must make a choice to be in command of your mind and attitude Taking full responsibility for what goes on in your mind by monitoring your thoughts is the first step towards being in control of your attitude. The power of choice is very influential in our lives. In order for you to be successful and wealthy, you must first choose to be successful. While you are working your way towards your goals, you will encounter some hurdles, you may experience some failure; but is very important that you control how you respond to whatever that happens, and keep your attitude positive, while working towards your goals.
So, what will be your choice? A positive or a negative attitude? It may be easy to make this choice, but what tends to be a challenge is to actually stick with this choice no-matter what setbacks you face. “Program” your attitude by training yourself to be always positive, maintains a positive inner dialogue, and keep your focus on your long term goals. Choosing to have the right attitude will help you become successful in all areas in all areas of your life.
3. Identify and stop the negative attitude that holds you back Assess your present day attitude and identify aspects of, which may be holding you back from becoming successful. What are the underlying causes of your negative attitude? What attitude do you need to propel yourself towards success and wealth? Do an attitude assessment and work an all the attitude that is keeping you away from being successful and wealthy. Rid yourself of any debilitating attitude, and focus on the positive attitude, which will help you attain your optimum potential in all areas of your life.
4. Turn your attitude into action and find your purpose and passion After you have identified what it is that is holding you back, you will be ready to take on the next step of looking ahead and analyzing where you want your life to go and what you want to achieve. In order to be successful, you must understand the importance of living your life with purpose and passion, and having a personal vision of what you want in your life. If you do not have a vision, you have nothing to work towards, and therefore you can not be consistently motivated. Once you have your success goals specified, then you can easily turn your attitude into action as you work towards these goals.
5. Develop strategies for maintaining the right attitude For you to be successful in your life and in your business, it is important to be able to maintain the right attitude at all times, regardless of any setbacks you may face. You will need to prepare yourself for handling any challenging situations that may threaten to provoke negative attitudes that will throw you off course. You must develop some self-motivation techniques to help you maintain the right attitude towards your goals; namely affirmations, visualization, positive attitude talk, enthusiasm etc. By using these tools, you will be well prepared to achieve professional and personal success. It is also important to build supportive relationships that will get you through challenging times.
By simply following the steps outlined above, you can have the right attitude, which will help you transform your life and achieve any success you want.
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This article is about money management and trading psychology. This is the lesson that you never get with 99% of other Forex systems that you have come across.
I find it interesting that most of the systems out there don’t include this because if they actually were successful traders, they would know that this was the key to success and to leave it out makes an incomplete system that won’t work!! This tells me that the people that wrote them or are selling them aren’t traders at all. They are just in the business of selling HOPE!
Well, if you haven’t noticed yet, I am a trader, and I am different than the others. Don’t get me wrong, there are honest trainers out there, I learned from one and I am eternally grateful to him.
So let’s get on with this. First of all, this is my own interpretation of several sources, and the practices that have worked for me. Please read EVERYTHING you can find on trading psychology, and money management. There are a lot of slightly different views but overall, they are very similar and the main important points are all pretty much the same.
There are two main issues that cause 99% of the problems. Can you guess what they are? If you answered FEAR and GREED, you are correct. These two emotions are probably responsible for 99% of the worlds problems as well but that is beyond the scope of this course À .
So, now that we know what the big obstacles are, let’s try and figure out how to overcome them. In the course of my lessons, I have listed a few but I will put them all together here in one place so that it is easier to follow, and perhaps make it easier for you to develop your own system to help you trade better.
We can’t eliminate fear and greed. They will still be there in your heart and mind, but we can make some rules so that they don’t interfere with your trading success. We can come up with systems and procedures to follow, since we KNOW ahead of time that fear and greed are major problems. I’m sure you have heard the statistic that 95% of all speculative leveraged traders FAIL. This is absolutely true. Here is another statistic that I believe…100% of traders that don’t know how to overcome fear and greed will FAIL. So does that mean that if I can teach you how to overcome these problems that your chance of success is 100%? Of course not. But I can tell you that you cannot be successful if you don’t protect yourself from yourself.
In lessons 1-3 I have outlined a trading system. The first thing you must do, whether you follow my system, another system, or your own system is to follow the rules of the system WITHOUT FAIL. If your system calls for a certain entry point, do not enter until there is a signal to enter.
Systems are designed for a reason. That is why it is called a system. What do we learn from this? Patience. Perhaps the stupidest thing you can do is enter a trade on a hunch. This brings us to our first FACT:
The odds are in your favor before you enter a trade. This is true for most trading systems. Void of fear and greed, if you follow each system exactly, you will profit. Some systems may offer better profits than others, but overall you should be able to profit with any system, IF you have no fear and no greed.
This brings us to THE BIG SECRET. Other than omitting trading psychology, other systems also don’t tell you that you are playing a game of odds. Let’s say for example that we are playing “coin toss.” Theoretically, for 100 flips of the coin, 50 will come up heads, and 50 will come up tails. Of course, the first 100 may be 55/45, but the more you play, the closer to 50/50 the numbers will get. Our system for “coin toss” is as follows: We play for 20 hours, and flip the coin exactly 5 times each hour, and for every heads that comes up, we get paid $2, and for every tails that comes up we pay $1. This should be a profitable system. After our game we see that heads came up 50 times and tails came up 50 times. (Stay with me here). So at the end of 100 tosses, we have paid $50 and received $100. A profit of $50.
So let’s say that during our second game of coin toss, we decide that we are going to let the flipper(hint: the market is the flipper) keep flipping the coin for an hour while we take lunch but we are not going to pay or be paid for those flips. During our lunch hour, heads comes up 5 times in a row (which is theoretically possible, and not that unlikely). And now we are back from lunch, and we are down $10 for the hour. Now, theoretically the odds of 5 tails in a row coming up after 5 heads in a row are pretty good because for every ten tosses, you should have about 5 heads and five tails. So now we get 5 tails in a row and now we are down another $5, for a total of $15. So not counting the 5 tosses during lunch, this leaves 90 tosses that we still have to account for and let’s say that they were 45 heads and 45 tails. Our profit for these tosses is $45 (45×2 minus 45×1), now if we take away the $15 for the tosses we didn’t take, and that string of losers, we are left with a profit if $30. So lunch and 5 lousy spins cost us 40% of our profits.
Now this is theory but it absolutely applies to this market. If you are picky about what trades you want to take and what trades you don’t want to take, you are MESSING
WITH THE ODDS. My point for this whole big story about “coin toss” is this: If the conditions are met, TAKE THE TRADE without hesitation. The odds are in your favor, but only if you take ALL of the trades that meets the conditions. When I say ALL trades I know the market is open 24 hours a day and you can’t possibly take every trade. You need to pick a time frame and stick to that same time frame everyday and take ALL trades during that time frame.
I can tell you that in the month before I realized this (my first month of trading real money actually), my total profit was 92 pips. I had an idea of what I was doing wrong so I was keeping track of the trades that I didn’t take along with the ones that I did. I included entry point, day, time, and whether the profit target was hit or if it was stopped out. Don’t get me wrong, I was extremely happy to be in profit after trading for only one month with real money. But then I went back and looked at the numbers for “what could have been.” Guess what? Had I taken every trade that met my conditions, my profit for the month would have been 355 pips! I was not happy. But soon I realized that I had messed with the odds. After realizing what I had done wrong (or not done right in this case) I began to have more confidence in my systems. The very next month my total profit was 515 pips, or a 560% improvement just for taking all of the trades that met the conditions. I think that is enough said about that.
Sorry to stay with the coin flip game here but it actually works very well in teaching these principles. This brings us to FACT #2. You do not need to know what is going to happen to make money. If we know that we are going to make $2 fifty times and pay $1 fifty times as long as we flip the coin, are we going to play? Of course! Well, all trading systems have similar odds. From my testing, I know that this system on average will produce 9 wins of 20 pips for every 1 loss of 40 pips (that number may vary but that is the maximum loss I ever take). So we know ahead of time that 9 wins at 20 pips is 180 pips, and minus the loss of 40 pips, leaves us with 140 pips profit. Now keep in mind that you may be 8 and 2 this week and 10 and 0 next week. We never know when a loss is going to come. We may even lose every trade for a week, but not lose a trade for the next 9 weeks. Believe me it happens. You do not need to know exactly what is going to happen, you just need to take every trade that meets the conditions and then count your profits at the end of the month/week/year etc.
This section deals with money management as well as psychology. Back to coin toss for a minute. We know that each win brings us $2. And we know that for each win in this trading system we get 20 pips. We know that each tail that comes up costs us $1. And in our system we know that each loss is 40 pips. If we know what our loss is going to be ahead of time, we know what it is going to cost us to find out “what is going to happen.” From this we can decide how much we want to risk based on our account size.
FACT 3: You know how much it will cost to find out. I have decided not to ever risk more than 5% of my account on any one trade. So knowing that, I can figure out how many lots to trade ahead of time based on my account size. It may cost $250 in margin for a 1 lot position but this is not what we are risking, we are actually risking ten dollars times the number of pips in our stop. If our stop is 40 pips, we are risking $400. Now we know that we better have at least $8000 in our account to take a position of this size. If this trade turns out to be a loser, and our balance falls to $7600, we know that we can’t afford to take that trade again because a loss of $400 is more than 5% of our balance. We would need to adjust our number of lots down accordingly to keep our risk <5%. We also don’t want to increase our lot size to try and make up for that loss. Always reduce your risk if your account balance falls. The next thing we don’t want to do is immediately increase our lot size after a winning trade. It is better to trade at the same lot size for 15 or 30 days at a time before increasing lot size. This allows the account to build steadily without large swings in either direction.
FACT 4: There is a random distribution between wins and losses for any given set of variables that define an edge. Your trading system is your edge, but you never know in what order your wins and losses will come. Be prepared for this and accept the losses, knowing that the odds are still in your favor.
This brings us to our final two facts.
FACT 5: Every moment in the market is unique. Yes we use pattern recognition to define our edge but there are so many variables in this market that it is impossible to ever have the conditions exactly the same as any other moment. You could play 100 games of coin toss and no game will have the exact same order of wins and losses, even though they may have similar outcomes.
FACT 6: Because of fact #5 we know that ANYTHING CAN HAPPEN. This is why it is important to follow the trade rules exactly and play the odds. Every broker/trading system has a disclaimer that says basically “do not trade with money you can’t afford to lose.” The best thing you can do when you open your real money account is to mentally consider that money GONE. If you are not afraid to lose it, you will save a lot of stress and your trading will improve. Only you can determine what you can afford to lose, so just don’t put more in there than you are willing to lose. Compounding is an amazing thing that we will talk about in section 5, and the money will come if you follow the rules. If you start with less, it will just take a little longer but once again you will save a ton of stress.
TRADING WITHOUT FEAR AND GREED
1. I Objectively identify your edges. You have a system here that works, enough said. 2. I Pre-define the risk of every trade. We covered that in FACT #3. 3. I Completely accept the risk. Consider the money GONE.
4. I ACT on my edges without reservation or hesitation. Follow the rules and take every trade that meets the conditions. 5. I pay myself as the market makes money available. Take your 20 pips and be happy, or trail your stop. Even if you are compounding your account, pay yourself something out of your profits each month. It will make you feel better. (On a side note: I take 20 pips for every trade until I am up 200 pips for the month. I do not even think of trailing my stops until I am up 200. Once I am comfortably in profit, I start to look for solid opportunities to trail my stop and grab some extra pips.
Even if they only go 20 and then come back, I still make 5 pips. 20 of those still adds up to another 100 pips.) 6. I continually monitor my susceptibility for making errors. I read Mark Douglas’ book monthly, and make up sheets with my rules on them that I read daily. This helps me to see plain as day when I make a mistake. 7. I understand the absolute necessity of these principles, and therefore I never violate them. I have included a sheet that you can print out to keep near your computer to read every day. Read these facts and rules every day even if you memorized them. Finally,
FOUR STUPID THINGS The first stupid thing you can do is to close a position early because you think it is going to go against you. Just because you have an edge over the market does not mean that price will immediately shoot up or down to your target. Price will move up and down and will even probably move against you before it moves in your favor. If you let FEAR of LOSS get you, you will lose money. If the market is going to take you out, let the market take you out by taking out your stop. That is why it is there. The odds are still in your favor.
The second stupid thing you can do is to close a position early because you don’t think (or you are AFRAID) that it won’t reach your target. If you don’t play the odds properly, you will not realize the full profit potential. What if in our coin toss game we decided that we were going to take our profit for a “heads” at $1 instead of the $2 that we were supposed to get paid? If you remember, our profit was $50 for the first game. If we had only taken $1 for each win, we broke even. That is a lot of effort for nothing. Even worse, if we make some mistakes along the way (we all know that we are perfect traders right?) as we did in game number 2 where our profit was $30, we can lose money by not taking enough profit. Remember that we had a $15 loss for our mistake and 90 spins remaining. If we had taken only $1 for each of our 45 winning spins we would have broke even, minus the $15 puts us down $15 overall instead of being up $30. The system is designed for a 20 pip target, GO FOR IT.
The third stupid thing you can do is to get greedy. As I said in my sales material, if you had shot for 30 pips instead of 20 for the trades I listed, the profit would have been about half of what it was for taking just 20. Interesting how this whole thing works, huh?
Just taking 5 or 10 pips can be considered GREED as well as FEAR since you are so afraid of loss that you get greedy for those 5 or 10 pips compared to the potential loss of 20-40 pips. Don’t let it get you, follow the rules and be happy with your 20 pips.
The fourth stupid thing you can do is move your stop, believing that the market will eventually go in your favor. This is the fastest way to lose money. We are DAY traders. Yes the market may go in your favor but it may move 300 pips the other direction before it does, if it does. This could take weeks or months and you have a limited account balance. If 5% of your account is tied up waiting this position out, guess what. You are missing 20 other opportunities to make money instead of just sitting there waiting, down a hundred pips while you miss the opportunity to make 20 trades for 20 pips each. Maybe you break even, when you could be up 400 pips. JUST DON’T DO IT.
THE BEST THING YOU CAN DO
Once you place your trade, and place your stop and limit, TURN YOUR COMPUTER OFF and go do something else. You are now in automatic mode, and the market will take you out, either for a profit or for a loss. This is the best way to eliminate the temptation to succumb to FEAR or GREED and do something stupid.
The rest is up to you. Only you can decide whether or not to follow the rules and believe in the facts. This lesson is the most important to your success and I hope you won’t take it lightly. If you are trading and following the rules of your system, and not making money, you need to take a look in the mirror. It is not the system that is the problem, it is you. I am not trying to be harsh, but when I was not making money, it was not the system it was me so you are not alone. Don’t give up, because you can be successful if you just work through and figure out the problem.
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