Day Trading Tips
Mind & Money Part 4

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Learn to use Elliott Wave in your Day Trading

Exercise: The Charles Dickens Approach

A good exercise to help clarify your desire to obtain a goal is the Dickens Approach: Picture yourself as if you make no changes at all. What will your life be like in 10 years? Your income has stayed the same, your car, your clothing, everything has stayed the same.

See how you will look, how will your home look? What sounds will you hear? What will it feel like to not improve your current situation and what is the outcome 10 years later. The idea here is to see how painful this will be, so make it vivid.

Now, do the same exercise, but picture yourself in 20 years. You have not changed one single thing. Because most everything costs more now, you are likely living at a lesser level than before.

How will that feel? Picture yourself sitting there, what are you thinking? How do you and your family look and feel? What can you see in your surroundings? Is your home run down? Are you happy here? Is this really where you want to be in 20 years?

After you have done this, do it again, only this time picture how it will be, if you continue to grow and work toward your goals, eliminating bad habits, and adopting new good habits.

What will your life be like in 10 years? Will it be improved? Do you see yourself smiling? Are you proud, happy?

Now, see yourself in 20 years. Everything you have done has improved your life, and the lives of those you are around. What can you hear now? Music, laughter? There is most likely joy in this vision, because you can experience firsthand the reality of doing everything possible to attain your own goals.

The next step is to actually begin to make a change. Take the first item on your "What I Want List" and read it every day. Remember how things will be in 10 years, if you take action now. Take the last item on your Bad Habits list and plan to eliminate this habit from your life entirely.

Why the last item? Because it should be easy to eliminate. It is not that important, since you placed it at the end of the list. Make this change, and then tackle the next to last. Work your way backwards through your bad habits list. Each time you eliminate a bad habit, the next one will be easier to tackle. You are well on your way to creating the life you want.

If it is smoking, simply stop. You can quit putting a cigarette to your mouth by not raising your arm. You are in control, you do what you want.

Decide you want to stop something and it is done. If it is something like watching TV, decide in advance what show is important and let the others go. Set a timer if necessary, but follow your own direction.

At first it will be difficult because a habit is simply something you are accustomed to doing regularly. You can rearrange your schedule so that over a short amount of time, you will have new, good habits to replace the bad.