The 7 Habits Of Highly Effective People
I remember a story of one of my grandparents about how everything cost 2 pennies when she was young, but now everything has got constantly more expensive and when I have the privilege to see her, the complaining would last for hours and hours. And that’s exactly what reactive people do. They always focus on the things that they cannot control. It's not possible that a concept like inflation could exist and if it did, it is not possible that they wouldn’t know about it. On the other hand, proactive people realise, even if my complaints were completely objective, it doesn't help me. So I am going to focus on what I can control. If a proactive person owns a business where he sells a product, instead of focussing on ‘how people these days don’t appreciate good product anymore and how the government has horrible regulations’ He focuses on How can Improve my product so that my customers cannot live without it?’ Do you realise how much responsibility, how much dedication, how much commitment the proactive person would need to have to take this route? That is why so many people focus on the things they cannot control, rather than focussing on the things they can. Habit number 1 is to be proactive. If you can implement these 7 habits into your trading, you will be able to achieve much greater results. Looking at the example of reactive vs proactive, reactive traders are going to blame the market when a trade goes against them and have their head down the minute it does, meaning whatever else they do that day they will be in a bad mood or potentially have shorter patience and discipline. Proactive traders will understand the market has gone against them but will already have their next setup forecasted, planned and revised before the move is going to happen. They know that they can do and will do whatever they like and so we are simply playing the probabilities we have in front of us.