hi all,

I would like to share this with all of you. Call it my gift to all the forum members. What I did this CNY is this...I bought a good book and read it..the title of the book is 'Why We Want You To Be Rich' authors Donald Trump and Robert Kiyosaki. For those who already read the book, good for you. I hope you learnt something from this. To those who are interested after reading this post, go buy the book !

I will highlight some things in this book which indirectly relate to options trading. Yes, the contents of this book has some relevance to how one can become rich trading options.

The book explains the need to have adequate financial education in our life. That is why we went to study options with Mr Sun. With proper financial education we can see and trade better in the stock markets.

The book then mentioned that rich people becomes rich because they use leverage in their lives. Leverage means "getting more for less". Options and futures have this leverage so its up to the trader to be aware and to proper utilise this.

The book talks about expansion after getting leverage. Expansion means for example what Mr Sun does, open a business selling options seminars and books. With an options business, one can make money from many other streams of income and benefits ie. conducting seminars, sell ebooks and articles, sharing knowledge and ideas etc.

The book mentions about the word 'control' in our life. For example, mutual and unit trusts. They pay the unit holders after paying themselves and all business costs. The fund mgrs determine how much the holders gets so the holders got no control over the income. To become rich one must be having the control not be control.

Hope this is useful it was to me.
Eugene

Gong Xi Fatt Chai Mr. Eugene Tan!

We were wondering where were you lately? We thought what you did in CNY had changed your residence from Malaysia to Europe or New Zealand! On second thought, we know you will at least VOTE first before making a move!

Thanks for sharing the book with everyone. S$0.20 reward!

Etradehome.com

Dear Mr Sun,

Been very busy ! Learning new things and and maybe thinking of relocation like what you said-haha. Happy voting.

Eugene Tan

Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude
By Mark Douglas

Every trader should read this book. At least twice! Once when they start trading and again when they have sufficient experience to understand the importance of Mark Douglas' message.

The book is devoted to the disciplines and mind-set required to become a successful trader. Most new traders focus on developing a successful trading system encompassing: stock selection, setups, profit protection and exit strategies. Few will succeed until they mature as a trader, no matter how good their trading system or qualifications.

Mark Douglas examines our belief systems and our reactions to winning and losing. Successful behavior patterns in other walks of life may prove totally irrational in a market where "anything can happen at any time". Douglas explains how to develop a traders mind-set; how to think in terms of probabilities; and how to build the self-discipline required to excel as a trader.

One of the most popular books on trading psychology. No trader can afford to miss this.
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Product Description
Maximizing the trader's state of mind is the key to successful results. Conflicts, contradictions and paradoxes in thinking can spell disaster for even a highly motivated, astute and well grounded trader. Mark Douglas, a trader, personal trading coach, and industry consultant since 1982, sends the message that "thinking strategy" will profoundly influence a trader's success rate. Douglas addresses five very specific issues to give traders the insight and understanding about themselves that will make them consistent winners in the market.
Trading In The Zone offers specific solutions to the “people factor” of commodity price movement. It uncovers the true culprit for lack of consistency when it comes to stock picking: lack of focus and self-confidence. Through simple exercises, traders will learn how to think in terms of probabilities, and adopt the specific beliefs necessary to developing a winner's mindset. Along the way, they'll gain valuable insights into their own entrenched misconceptions about the market.
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