Archive for the ‘Peak Performance’ Category
More Women on Wall Street = More Profits
Saturday, May 15th, 2010Fear and Fear drive the markets, not Fear and Greed
Monday, May 10th, 2010Fear is a Good Thing for Traders
Friday, May 7th, 2010Many of my clients are “afraid” or are experiencing “fear.” Fear is not always a bad thing, though. In fact, for traders, feeling fear is not a problem, as long as they don’t panic and allow it to drive them out of or in to trades.
Among the fears traders face:
- Not making enough money in these huge market moves
- Missing out on big trades
- Getting caught on the wrong side
At times like this, top traders see opportunity when others crawl into a hole because they are frozen by their fears.
Traders who keep their cool make money from the fear (i.e. shorting oil). Others keep their head and cut positions so they don’t get blown up (Greece and the ripple effect). Still others are waiting patiently for the moment to strike, like a sniper.
So how can all traders think like the top traders when it comes to fear?
- Lay out the data and look at it from an objective point of view.
- Pay attention to where the disconnects are because others are trading based on fear.
- Keep positions smaller with wider stops; be ready to get bigger quickly the moment the uncertainty starts clears up, which it always does.
Trade Well,
Dr. Doug
Great is a Place…Are you looking for yours?
Saturday, May 1st, 2010Great is Place. That is what I truly believe.
It exists inside of each of us...and it is different for everyone of us…but it is there.
Are you looking for your place called Great? Nancy Sosa is (see Nancy Sosa and the Golden Knights)
Keeping finding your way to Great, Nancy.
You are on your way!
Dr. Doug
As a Consultant, Here Are The 10 Most Important Lessons I Have Learned Over the Past 10 Years
Tuesday, April 27th, 2010The 10 Most Important Lessons I Have Learned over the past 10 years.
By Dr. Doug Hirschhorn
1) Find a Mentor at Each Stage of Your Growth
2) Be Specific with What You Want to Do (Principle #1 from 8 Ways to Great)
- What population? What type of work?
3) Go into a Space that is NOT Over-Crowded (Principle #4)
- Easier to differentiate yourself and build reputation
- You can always widen your net later
4) Be Willing to Relocate (Principle #7)
- Go wherever the best opportunities are for what you want to do– most people wont do this; and it gives you an “edge” in business if you do
- I moved to 6 states in 15 years
5) Build a GREAT Model (something I am currently working on) that fits your goals (Principle #3)
- Do you want to be a highly paid hourly person?
- Do you want to build a business with multiple revenue streams?
- Do you want to do the work? Do you want to manage others?
6) Be Willing to Pass Up Good Opportunities for GREAT ones later on
- You only get ONE reputation – be smart with it
7) Get Someone Else to Negotiate Your Fees for You (I still need to get better at this) (Principle #6)
Bury Your Ego (Principle #2)
- It is NEVER personal and It is not about YOU, it is about what you can DO FOR THEM
9) Get Comfortable with Being Uncomfortable (Principle #7)
- As an entrepreneur, you are always unemployed and you may live in constant fear – get comfortable with it
10) And MOST IMPORTANT: Know When You Are Operating Out of FEAR (Principles #2 and #8)
- Then find a quiet place, call your mentor, speak to your spouse/close friends – let them call you out on it, then, accept it and get back to work because trust me, it will happen again and again.
Dr. Doug
