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Old December 3, 2002, 03:40 PM
Michael Ross
 
Posts: n/a
Default It's something in the water

This "small steps" approach is recommended by some in Day Trading...

Instead of laying $10,000 on the line - after you have successfully paper traded for a while - only risk a few hundred dollars. Enough, so that whether you win or lose money, it will only be about $50.

The idea is to take your emotions out of the game. After all, what's $50? It won't break you like $10,000 will.

Problem is... it is still your hard earned money. Whether it's a few hundred which may make you $50, or your life's savings of $10,000.

And lo if your first few attempts with the smaller amounts of money should prove fruitless. Now you'll be even more concerned about your money - even though it is only a few hundred dollars.

ACT AS IF...

Be bold...

Trust in your system...

Easy to say. And what do I know? I've never day traded in my life.

I would rather cold call than day trade, at this moment in time. That's because I don't know how to day trade. Oh sure, I could call my broker and tell him to buy and sell and I'd be day trading.

But to me, that's like gambling in a game I don't know the rules of.

Anyway. Back to your post...

Same applies. What if my classified ad doesn't work? Then I'll be in a worse situation because now I will even fear small little classified ads.

Part of the problem is not in the spending of money on ads... it's the expectation we have of that ad.

Naturally, we want our tiny classified ad to produce full-time executive income levels and/or flood our business with orders.

And when it doesn't happen, we get discouraged. Blame the ad for not working and think we wasted our money.

And yet, if some slightly different thinking was applied, we would be overjoyed. We would see our little ad made us money. And thus, to make more money, we simply run more of the same ads in more of the same places.

Of course, the question begs... how do we take the first step? As even that first step is a step outside of our comfort zone.

That's like dipping your toes in the water. We can all do that, so there is no real problem there.

The problem is what comes after the toe dipping?

In business... and in The Multiple Streams of Income Report (get your own personal copy for free by sending a blank email to msireport@sowpub.com)... I advocate being self-funding. That is... the business or income stream can fund its own growth. Because then, you aren't bleeding other income sources to feed your new venture. And you stay in front.

Okay, so self-funding business growth is slower. So what? It's like a snow ball. It's the S Curve. Realise it and accept it. Long term and "safe" usurious rates of return are fiction.

But what will keep you going through all of this?

See The Success Report - http://www.sowpub.com/successreport.html - for your answer.

Michael Ross