I uploaded a new book for you guys to chew on. It’s only 1170 pages so I expect you to have it done by next week so we can chat about it….lol. Disclaimer – I own the hard copy, but haven’t had a chance to read past chapter one yet, but everything by Hill is awesome and inspiring.

Laws of Success

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2 Responses to “Laws of Success – Nap Hill”

  1. Makenzie Kelly Says:

    Hey Jeff… Love Napoleon Hill. I stumbled across your site and I love it. I am about to open my first trading account, have been studying options for about a year now, have two mentors that I work with, but haven't yet pulled the trigger. I like your ideas because I am very much into energy management regarding everyday life, and it's kind of funny how that gets thrown out the window with trading or even gambling. Looking forward to hearing more.
    Also, how much time to you spend doing your scans and finding trades? (I'm super interested in Time Management too- big fan of 4HWW.)
    Cheers!

    Makenzie

  2. Jeff Pierce Says:

    Hey Makenzie…great to meet you. Energy mgmt…I like that term for maximizing the hours of the day to squeeze the most production out of it. We all can use a few more hours/day to enjoy life more.

    Options are tricky because of the spreads & volatility. Make sure you have a broker with low commissions and I highly recommend that you test your strategies before using real cash. The only way this will work is if you have stringent entry/exit rules that you don't ever break. Most of the time paper trading is useless because there's no real emotion attached to it, but if you do it right it can be effective.

    Ameritrade has a great tool, the Think or Swim platform for paper trading that does a good job of simulating what it would be like if you were using real money.

    My scan allocation time varies depending on what the market is doing. I use Stockcharts because of it's functionality, but Ameritrade also has this amazing tool called StrategyDesk, where I can have scans running in real time continuously throughout the day and see the results pop up whenever the criteria is hit. Very useful since it's essentially on autopilot.

    Best of luck to you when you start trading and if you have any other questions feel free to ask. After checking out your blog I'm going to add it to my blogroll.

    Jeff

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