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After reading the book “Rich Dad Poor Dad” by Robert Kiyosaki, I came to realize that not only is there a rich and poor path in life but also a rich and poor path in options trading as well. Many options traders experience defeat in their options trading career, especially during the first few months, because they are unknowingly walking down the poor path in options trading. There are many differences in the approach winners take in options trading versus the losers and we shall outline and explore some of these in this article.

Rich Options Trading :

1. Speculative directional options trading using direct call or put options buying only with a small percentage of their fund and only on the stocks with the best chances.

2. Extensive use of Option Greeks in order to dynamically hedge a position when conditions change.

3. Always doubt one’s own conclusions and make provisions for losses.

4. Always have a stop loss policy already in place or in mind. Stop loss points can be in the form of contingent orders or trailing stop orders.

5. Understands the exact options trading style that suits them. Emotional options traders should stay out of day trading.

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6. Know that there is no one best way to trade every single situation.

7. Do not chase after profitable trades that have been missed earlier on.

8. Satisfied with a steady, consistent gain.

9. Into options trading for the long run.

10. Think options trading education for a start.

11. “Trades” the market.

12. Keeps a trading log.

13. Learn from mistakes.

14. Understands technical and fundamental analysis.

Poor Options Trading :

1. Speculative directional options trading using direct call or put options buying with all their money hoping to hit a “big one” on stock picks taken from the TV or non-professional friends.

2. Has no idea what option greeks are at all.

3. 100% confidence! Full steam ahead!

4. Realize it’s too late only when it’s too late.

5. Follow whatever options trading style that is supposed to produce extra-ordinary gains only to completely break the rules and your pocket.

6. Stick to only one way of options trading for all market conditions and situations.

7. Missed a trade, watched the price go up and then enters it at that new high price only to see prices tumbling like a rock thereafter.

8. Always looking for ways to make more explosive gains from stock options only to have the dynamite eventually exploding in their face.

9. Start options trading with the purpose of quitting after hitting a big profit.

10. Think money making for a start.

11. “Plays” the market.

12. Forgets the last trade made.

13. Hates mistakes and tries to forget mistakes.

14. Mystifies and follows technical analysis superstitiously.

Well, as you can see from the list of differences above, the difference between rich options trading and poor options trading is not only a matter of technique or method but also a matter of attitude and mental approach. Only when the right mind meets the right technique does rich options trading happen. Are you making any of the mistakes that poor options trading makes?

Jason Ng is the Founder and Chief Option Strategist of Masters ‘O’ Equity Asset Management ( MastersoEquity.com ) and author of Options Trading education site, Optiontradingpedia.com. He is a fund manager specializing in options trading and his revolutionary Star Trading System has helped thousands.

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Self help books have become quite popular of late, as more and more people become interested in personal growth and development, which is turning out to be the only key to survival in this competition-ridden society.

1. Thought Vibration, Walter Atkinson – Attract Your Desires through the Vibration of Your Thoughts

Another one of the many self help books that focus on the law of attraction, the Thought Vibration explores the subject using a different and more radical perspective, making it quite a controversial self help book from an equally controversial author.

The main purpose of the book is to enlighten you on how to use your thoughts to attract what you want to get in life. It says that if you really set your mind on your desires, your thoughts will create such a powerful vibration that will simply magnet the subject of your desires straight to you.

Thought Vibration also teaches how to go through the process, which should begin with a clear and calm mind that is not limited by negative beliefs. The book is closely linked to the benefits of positive affirmations to train the mind and to remove limiting thoughts.

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2. Rich Dad, Poor Dad, Robert Kiyosaki – Welcome Money and Prosperity with the Abundance Mindset

Rich Dad, Poor Dad is one of the most talked about self help books around. The book became a hit especially since it dwells mostly on money issues, which all people, regardless of age or background, can relate to.

The self help book dwells on how to invite money and prosperity into your life by seeing money making opportunities clearly instead of focusing on the negative state of the economy. It’s all about developing an “abundance mindset” rather than get drowned by the “scarcity mindset” that is so prevalent today.

3. 7 Habits of Highly Effective People, Stephen Covey – Change Results by Changing Perception and Interpretation

The 7 Habits of Highly Effective People turned out to be one of the most influential books in the popular self help reading list. Although it was published way back in 1990, ripples of its influence can still be felt today.

Like the other books in this self help reading list, the 7 Habits revolve around the importance of changing your perception and interpretation of the world in changing results. This phenomenon was dubbed by author Covey as the “paradigm shift.” Covey wrote that the right perception can do wodners for your productivity and time management skills, making you an able and effective person.

4. NLP (Collins Need to Know?), Carolyn Boyes – Change Results by Changing Action

Another intriguing self help book is the NLP by Carolyn Boyes. The book revolves around NLP or Neuro Linguistic Programming. The book teaches another way of changing one’s mindset, and how this simple act can pave the way for goal achievement.

The unique thing about the concept of NLP is that it begins with a change in action, which brings a change in results, which therefore changes one’s thinking. This is a modified version of the law of attraction, which begins with a changed thinking leading to a changed action and then changed results.

Nelson Berry is the Pioneer of Subliminal Messages Videos and Subliminal MP3s Audio Subliminal Messages online. Valued at 0, click for 4 Free Subliminal messages!

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this is a pretty long introduction to the intro and chapter 1 of rich dad poor dad, but try and listen to it so you get a drift of what is going on when i am actually talking like i know what im doing. i am probably going to explain things in my next video about this. book: rich dad poor dad richdad.com they did not ask me to do this. they do not know i exsist or an uploading this, i just really like the book, because it is wise and i know i will try the stuff in this book because it makes sense

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If you are like me, you cannot stop reading and learning about real estate and business. I listen to audio books while working on the computer, in the car, even at the gym or when listening to my IPod. No joking around here, my high school self would beat up my current self and put bubble gum in my hair for being such a dork. Anyone else out there that can relate? Here are the most influential books that have helped my real estate business. Please share with all of us, what are some of your most influential books?

The 4-Hour WorkWeek by Timothy Ferriss – I have read so many business books that I thought it would all overlap and my cup would be full. Not so fast. What I learned from the first half of this book will have a bigger positive impact on my life than every other business book combined.
Goals by Brian Tracy – If there is one thing I could recommend to every person in this world it would be to write down your goals and what it will take to achieve them every day and complete your daily goals. The progress I have made since implementing the knowledge obtained from this must read is mind boggling. My organization, time management, performance and ability to get things done is amazing. Everybody should read this book, those of you spinning your wheels, changing careers and can never decide on a path should immediately read.
EMyth Revisited by Michael Gerber – We read this book in my MBA program and I think every light bulb possible in my head went off. Michael Gerber is the author and breaks down why most small businesses fail, details the 3 types of people in business and discusses systems, franchises and separating yourself from the daily processes and becoming a true entrepreneur. Absolute must read, it completely changed my thinking and I can’t even imagine my career without this knowledge. I felt smarter than 90% of business professionals after reading this book, go read it.
Rich Dad Poor Dad by Robert Kiyosaki – The original Rich Dad Poor Dad book really opened my eyes to a different way of thinking. The rest of their books are tremendous, too. Cash Flow Quadrants, Real Estate Riches, ABCs of Real Estate Investing, etc. Most have heard of them, they are tremendous books I recommend every real estate professional read.
The Secret of Success by William Walker Atkinson – Don’t confuse this with the current movie where the premise is what you think will become reality. This is an old book that explains how 95% of people are followers. If they are making their own decisions they do what everyone else thinks they should do. It is the 5% that think outside the box, gather factual data and make the best informed decisions that become the most successful. These people control their own destiny and can achieve tremendous success. An eye opening read.

There is so much knowledge out there and so many great books to read. I encourage you to share with us your favorite books by leaving a comment  at http://www.realreturnrealestate.com.

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