I first became aware of "the science of getting rich" a
number of years ago when someone sent me a reprint of a
book of that name by Wallace Wattle.
The book is a very "dry" read but the author claimed that
getting rich was an exacting science which means that if
anyone applied the rules - to the letter, then the outcome,
by scientific definition, would be a true replication.
In other words, if one were to apply the rules of "the
science of getting rich", one would inevitably become rich.
In many ways, not dissimilar to applying a trading system
that is proven to work, provided the user applies the
system rules exactly, then the same success should be
replicated time and time again.
You will recall - unless you have been trading Lunar
Currencies (joke) - that we recently had a liquidity
problem in the markets brought about by the meltdown in the
sub-prime mortgage market.
In "the science of getting rich", Wallace Wattle points out
the necessity of generosity. In fact he states that one
must give freely and although I may be slightly misquoting
he suggests that "one should never miss the opportunity to
give".
It is a fact that almost all successful people give away
money. I know that this may sound unlikely but check it out.
Warren Buffett has pledged to gradually give 85% of his
Berkshire stock valued at around $40 million to five
foundations. A dominant five-sixths of the shares will go
to the world's largest philanthropic organization, the $30
billion Bill & Melinda Gates Foundation. Yes that's right,
Bill Gates of Microsoft fame gives away very large amounts
of his fortune to charitable causes. Warren Buffett and
Bill Gates are far from being alone in giving away money.
Perhaps wealthy people understand more than most that the
cycle of money must be kept in motion. You need to give to
receive.
So what do "the science of getting rich" and forex trading
have to do with each other?
In my opinion, rather a lot!
As we saw with the credit crunch, when money stops flowing,
it causes a ripple effect that increasingly affects more
and more people. As long as the money flow continues, there
is opportunity for all, but when it stops, there is nothing
but trouble ahead.
With the act of giving, according to "the science of
getting rich", one is perpetuating the mental attitude of
plenty. In essence you are in the mind set of "I have
plenty so I can give freely with the full expectation that
I will receive even more".
Being in the right mind set is a very important part of
becoming a successful trader.
It is rather like "Trading in the Zone" (an excellent book
on trading attitude by Mark Douglas). When you are in the
mentality of winning, you carry on winning, but when you
are in the mentality of "lack" you are just waiting for
failure, which surely will come along.
If you would like to dynamically improve your trading there
are a number of things you might consider, and these could
include making sure that you have a well proven trading
system, making sure that you are always in the "right" mind
set when trading and being prepared to "pass on" some of
you winnings to a good cause.
Good health and happy trading.
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Martin Bottomley is a full time professional forex trader
and co-developer of forex software including The Amazing
Stealth Forex Trading system.
You will find more information at:
http://www.stealthforex.com
