T Harv Eker Millionnaire Mind Intensive II

5. Excellent Receiver

i) Universe, if there is anyone who has something great coming to them but is unwilling to receive it, send them to me. I am open and willing to receive everything.

ii) Practise receiving with my Play account.

iii)Practise receiving fully all the money that come to me. My investment income, my passive income, my working income, my savings from simplify and money that I found. I am a Money Magnet! Thank You Thank You Thank You.

6. Success

i) Recognize and acknowledge all my Successes.
ii) Celebrate all Wins!
iii)Keep a Success Journal with 5 successes everyday!

7. Success Theme

i) Write a Success Theme and sing it 5 times everyday.

8. Action.

i) Feel the fear and do it anyway.
ii) Act in spite of fear.
iii) Success comes from the HEART!

T Harv Eker- Millionnaire Mind Intensive

1. Right Beliefs

i) I am a worthy person, I am a valuable person, I deserve to be rich, I deserve to be a multi-millionnaire. I have a millionnaire mind.

I am an excellent receiver because I give readily to everyone.
I am an excellent of help from everyone beacuse I help everyone.
I love selling and promoting because I have so much to offer. I have a millionnaire mind.

ii) I make money easily and quickly in large amounts. I have a millionnaire mind.

iii) Rich perople are the best people in the world and I am one of them. I am rich. I give readily to everyone and benefit them. I have a millionnaire mind.

2.What I want.

i) I want financial freedom, to live my desired lifestyle for myself, my wife, my mother, my family and my friends without working and without relying on anyone for money. My aim is to accumulate at least US$1.8million in my financial freedom account ie US$15000 per month for the next 10 years.

ii)I am an excellent money manager. I pay myself frist and put money into my financial freedom account everyday. Manage my inflows: investment income, passive income, working income, savings and simplify. Manage my outflows: FFA, LTSS, EDU, NECC, PLAY, GIVE. 50% for NECC, the rest 10%each from my working income. My Passive income and Investment income: 50%for FFA, the rest 10% each.

iii)My main job is to manage my money, my investment income and to create passive income structures. My money works hard for me and generate more money for me. I create enough passive income to support my desired lifestyle. I am financially free, work beacuse I want to work and not because I have to.

3. Why I want financial freedom.

i) To be the person I have to be in character, minset and habits -Real, from the heart, and honest.

ii) For the desired lifestyle for my wife, my mother, my family and friends- Spend time with them, Spend money on them, Go Tavelling- Purpose, Family.

iii) Becoming rich is proportionate to the problems I solve and the value I create to the world- Giving, Attitude to failures and Learning.

3.Change my Beliefs.

i) Find counteracting evidence for my negative beliefs.
ii) Find supporting evidence for my supportive beliefs.

iii) We don't see the world for what it is , we see the world as what we are, When we believe it, we see it. We act or not act acording to our beliefs and therefore produce the exact results as our beliefs.

Yeo Keong Hee's Book

1. Psychology

i. Take advantage of market's psychology. Overcome my trading bias. Stay disciplined in following my rules.

ii. Think in terms of probability. My system should be evaluated over a large number of trades across all market conditions. Do not be bothered by my recent trades and do not try to predict the future. Let the odds play out.

iii. Master myself. Have a trading routine.


2. Have an edge over the market.

i. 70% success rates
ii. Know the logic of my system. Believe it wholeheartedly . Follow my rules wholeheartedly.
iii. BSPTR: Order flow, Demand and supply of professionals, origin of price movement. Who is on the other side of my trade? Have an edge, be different from the herd, get in faster than the herd and get out faster than the herd.

3. Money management

i. Reward to risk of 2 to 1 at least
ii. Position sizing with risk 0.5% of equity
iii. Exit: Fixed exit, trailing stops, scale in, Avoid large losses.


4. System

i. Trade frequency vs selectivity
ii.Balance reward to risk 2 to 1
iii. Balance success rate 70%

Trader's Psychology-Yeo Keong Hee's Book

Difference in how novices and professional think

1. Professional is disciplined in following rules.

Novices need to be right.
They let looses run and cut profits short.

2.Professionals think in terms of probability. They will not be bothered by recent trades and test their system over a large number of trades across all market conditions (trending vs ranging; quiet vs volatile).

Novices are bothered by recent trades. They test their system by selective perception to fit in what they believe in.

3. Professionals think differently from the rest and get in and get out faster than the majority.

Novices seek safety in others. They buy at the top and sell at the bottom.

4. Professional think simple. They concentrate on crowd psychology and concentrate on overcoming their bias. They do not predict the future, is not affected by the past behaviour. They concentrate on the present, concentrating on what the market is telling them with a simple trading plan (order flow, demand and supply, origin of price movement) with risk management and exits (keep losses short and let profits run) and discipline to follow the plan.

Novices focus on indicators and seek sophistication.

5. Professionals do not care about news and economic indictaors

Novices seek to understand news and economic indicators.

6. Professionals focus on how the market really works, why prices move and the origin of price movement. (order flow, demand and supply, origin of price movement); who is on the other side of your trade; and have an edge.

Novices seek pattern recognition according to selective perception. Seek sophistication.