Delaying Gratification - 5 Tips on How to Delay Gratification

One of the hardest things to do for most people is delaying their immediate gratification. We live in a society where we want everything and we want it now, without much consideration to its future impact. This attitude is learned from a young age where kids want things immediately and parents more often than not give in. However being able to delay immediate gratification has a direct impact on our success in life, and not just financial, but in all aspects of life. By now you might know that besides finance my other passion is psychology (not surprising since I studied it for 4 years) and one of my all times favourite study is the Standford Marshmallow Test. If you are not familiar with the test here is a quick summary.

"Years ago, psychologist Walter Mischel conducted an experiment on a group of four-year olds. Each child was offered a marshmallow, and was told that they could have it now, or if they could wait several minutes, they could have two. Some children grabbed the marshmallow on the spot but many of them were able to hold off. The interesting part of the study was that Mischel followed up on the children as adults and he discovered that those who didn’t eat their marshmallows that day were generally more self-motivated, successful in school and considered emotionally intelligent. On the other hand those who simply couldn’t wait generally had low self-esteem and had suffered in school, branded by both their teachers and parents as being stubborn, envious and easily frustrated"

This study has been replicated by David Walsh Check out this YouTube clip. There is a very strong link between delaying gratification and success in life, the earlier we learn this skill the better off we will be. However it is never too late to learn how to delay your immediate gratification; here are some tips that can help you along the way.

1. Make an Advance Decision and Know What You Want

Get your decision in writing. Try to be as detailed as possible about your decision as well as the expected outcome. Sometimes it can be hard to say NO to things, you have to have a clear picture of what you want in order to resist the urge.

2. Know what is Important to You- Know Your Values.

In order to be able to delay immediate gratification you need to know what is important to you, what do you value to most? Is it the satisfaction of owning a brand new car or that you own a pre-owned car debt free? Know your values.

3. Have a Plan

I don’t think that every aspect of one’s life should be planned out in detailed but in order to reach your goals, whatever they maybe, you need to have a plan. You should have a financial plan to reach your financial goals, a career plan to reach your career goals etc. If you have a plan it becomes easier to resists the urge of immediate satisfaction, you may be more conscious of your behaviour and how they fit in your plan.

4. Prioritize

Have clear priorities in life this can be financial priorities or just general priorities in life, such as school comes before entertainment, family before friends etc. Having clear priorities will go a long way in delaying gratification.

5. Reward Yourself

If you have long term goals, I highly recommend you set-up some short term goals and reward yourself for reaching them. Sometimes it can be very difficult to keep focus on long term goals if we don’t see some rewards, giving yourself small rewards can be very powerful.

Delaying gratification is not an easy task, but it is something that can be learned over time, following some of these steps will help you in the process. However do not stop at these there are tones of resources online on this topic take some time and go through some of them.

*source : http://financialhighway.com/delaying-gratification-5-tips-on-how-to-delay-gratification/

FOREX: A QUICK INTRODUCTION TO FUNDAMENTAL ANALYSIS BY JOHN CARRICABURU

Forex traders mainly use two main types of analyses for their trading strategies: technical and fundamental analysis. This short article will focus on fundamental analysis, with special emphasis on how to use it in forex trading.

Fundamental analysis refers to political and economic conditions which can influence the prices of currency pairs. Forex traders who use fundamental analysis base their decisions on information such as unemployment rates, economic policy, inflation, growth rates, etc.

Fundamental analysis is often used to get an overall view of currency movements. It provides a general evaluation of economic conditions which affect a given currency. Most forex traders count on fundamental analysis to find entry and exit points on the currency market and they complete their analysis with fundamental analysis.

Currency prices on the Forex are affected by supply and demand forces that are influenced by the economic situation. The two most important economic factors affecting supply and demand are interest rates and the strength of the economy. The strength of the economy is affected by GDP (gross domestic product), foreign investments and the balance of exports/imports.

Economic indicators

Various economic indicators are announced by government and university sources. These are reliable measurements of the country’s economic health which are monitored by all investment sectors. The indicators are generally published on a monthly basis but some are published each week.

Two of the most important fundamental indicators are the central banks’ interest rates and the balance of imports/exports. There are of course a multitude of important indicators (consumer price index, durable good orders, production price index, retail sales, etc.).

Interest rates – high interest rates attract foreign investments which will reinforce the local currency. In addition, stock market investors often react to interest rate increases by selling off stocks since they believe the increased cost of borrowing money will affect many companies. Stock market investors may sell their shares, which will slow down the stock market and the national economy.

Determining which of these two effects dominates depends on many complex factors, but there is a general consensus that exists among economic observers in terms of the way in which interest rate changes affect an economy and the price of a currency.

The export/import balance – A trade balance that shows a deficit (more imports than exports) is generally unfavorable for a country’s economy. A deficit trade balance means that money circulating in the country is being used to buy goods made abroad, which can have an unfavorable effect on a currency. Typically, market expectations determine whether a deficit trade balance is unfavorable or not. The trade balance will affect currency prices if the figure that is announced is higher than expected.

There are 28 main indicators used in the United States. Economic indicators have important effects on the financial markets, so forex traders must take these economic announcements into account when defining their trading strategies. The economic statistic calendar provides traders with announcements in real time.

source : HotForex

Teknik Forex Sebenar - Face to Face Tutorial

Alhamdulillah, pada 30 Mac 2013 yang lepas, telah berlangsung kelas tutorial bagi pembeli ebook Teknik Forex Sebenar yang diadakan di d'Villang Resort, Ayer Keroh, Melaka. Bersempena dengan cuti sekolah, kesempatan itu diambil untuk membawa sekali anak-anak berjalan-jalan makan angin.

Kelas tutorial yang dikelolakan sendiri oleh penulis ebook Teknik Forex Sebenar, iaitu encik Khalid Hamid telah mendapat sambutan yang hangat, sehinggakan terpaksa dibuat di dalam 2 sessi iaitu pagi dan petang. Kelas yang berlangsung selama 3 jam itu, banyak merungkaikan cara-cara untuk melihat candlestick dan membaca pergerakan market dengan lebih senang, mudah dan simple tetapi amat bermakna sekali untuk trader-trader baru seperti saya (dalam kelas ni juga ada seorang brader berumur 50-an dan juga baru berjinak-jinak dalam trading forex ini, hebat kan?).

Walaupun kelas tersebut hanya berlangsung selama 3 jam, tetapi ilmu yang didapati amat bermanfaat dan boleh saya katakan tidak rugi langsung menghadirinya. Banyak persoalan, teknik dan tips yang dikongsi bersama oleh penulis dan para peserta lain.

Inilah antara keistimewaan yang saya dapat hasil dari membeli ebook Teknik Forex Sebenar, selain dari support yang berterusan dari penulis sendiri di group facebook. Anda juga menikmati keistimewaan ini jika membeli ebook Teknik Forex Sebenar ini. Apa tunggu lagi?

KLIK SINI UNTUK PENERANGAN LANJUT TEKNIK FOREX SEBENAR.

macam biasa, sessi bergambar tetap ada