Serve Your Way to Greatness

[...]... have to work a "system" of getting a Internet Your Way to a New Job 1 job, i.e., a tremendous number of activities that lead to interviews, performing well on those interviews, and negotiating a job offer Getting a new job is a job in itself!" Anyone, and that's almost everyone at some point in their career, seeking a job or career change should be aware of what tools and techniques are available, and... how you can utilize them to expedite your job search—and get that new job That includes building a professional brand to promote yourself, using job sites, social and career networking sites, blogs, instant messaging, as well as the tools that can help you manage and expedite your job search and build your career Job searching has changed from a once or twice in a lifetime endeavor into what is, for... Internet Your Way to a New Job 23 How to Use Your Network You've created a profile on a networking site, what next? The next step is to find contacts so you can add to your network On most networking sites, you can search globally for past and present colleagues and classmates, and you can add contacts from your email accounts There are also advanced search options you can use to find a specific individual,... they may be more likely to help you in return Internet Your Way to a New Job 13 Keep Track Create a list of the sites (and add them to your Favorites in your browser) where you have created profiles, so you can get to them easily Or, set up a Google or Yahoo! home page and add links or bookmarks to your page, so you can easily get to your profiles Keep track of your login information and your passwords... professional experience, and educational background Writing a Blog A blog (web log) is another good way to build your brand and share your credentials with the world You don't have to spend a lot of time or money on it There are free blog platforms available; a blog is easy to set up, and you can use a template (no need to know web design) to create your blog Writing a blog can be fun, as well as career enhancing... why branding is valuable: "Personal branding is about distinguishing yourself from other applicants applying for the same job By developing a memorable brand both online and offline, you can extend your reach and visibility and have the opportunity to be recruited based on your skills, personality, appearance, and total value As a brand, you are empowered to be your own manager, spokesperson, and most... websites, and accomplishments to help you make a dynamic, professional presentation to your connections, to hiring managers, and to recruiters A VisualCV is not only professional; it's quick and easy to create You can copy and paste from your Serve Your Way to Greatness Serve Your Way to Greatness By: Joe Tye Once a month, Charlie met with the entire management team of The Courage Place through the magic of video-conferencing He could almost maintain the same feel of personal closeness that had developed in the early days, even though now there were more than 300 locations across the United States and Canada, with the first European center scheduled to open the following year Several years earlier, the company had gone public by selling shares of stock to its members in a direct public offering Now, the monthly management meeting was also open to member-owners by means of a special Internet hook-up For the most part, going public had been a tremendous step forward for the company The sale of stock had provided capital that was essential for maintaining an aggressive schedule of opening new centers, as well as developing new product and service lines More important in Charlie’s eyes, when members “graduated” to become part-owners of The Courage Place, their commitment and enthusiasm increased geometrically The downside of going public was a natural tendency for many Courage Place managers to focus more on quarterly earnings and the stock price than on the core service business Today, Charlie wanted to discuss not just the business of service, but also the philosophy of serving As he always did, Charlie began by addressing some of the concerns that had been raised by managers during the previous month, and by answering questions that had been sent to him by owner-members via e-mail Charlie used this period to get people to relax, lighten up, and think about things from a new perspective From his years of public speaking, he had learned that before you can teach somebody something, much less influence them to change ingrained attitudes and habits, you must touch them emotionally This warm-up period was his opportunity to synchronize people emotionally “Because we are in the business of helping people create better lives for themselves, The Courage Place has always attracted people who have an incredible service orientation Now, that’s a good thing – those are exactly the kind of people we want to attract But 1/5 Serve Your Way to Greatness in the early days, when we were just getting this business started, I had to continuously remind people that even though we had a powerful service mission, we still were a business, and as a business, we had to make a profit I used to serve on the board of a local hospital, and Sister Julia always reminded us board members of her favorite maxim: ‘No Margin, No Mission.’ That aphorism is every bit as applicable in our business as it is in healthcare We must make a healthy profit so we have funds to reinvest in new and improved programs to serve our clients more effectively, and to keep reaching out to bring new members into the fold.” Charlie looked at his notes Even after all these years, he still believed in the maxim of Mary Kay Ash that the shortest pencil was better than the longest memory “But Sister Julia’s formula also works in reverse; No Mission, No Margin If we lose sight of the mission that brought us all into this business in the first place, if we begin to let the quality of our service slip, we open the door for someone else to come in and take our business away from us Without the mission, our margin – our profits – will evaporate.” At first, Charlie had found it difficult to speak to a camera with the same passion and enthusiasm that a live audience brought forth Now, however, he was able to quickly get into the flow by imaging the faces on the other side of the camera – the hundreds of managers participating in the live interactive video conference, and the thousands of member-owners watching on the TCP website “My friend Mitch Matsui introduced me to the poetry of McZen They’re quirky and full of paradox, but they contain great wisdom about life Here’s one of my favorites:” Someone with a job is never secure Someone with a calling is never unemployed “That’s so true In today’s turbulent world, nobody can go to work for a company and be confident that just by being loyal, reliable, and competent they’ll still be there in twenty or thirty years Quite to the contrary, the chances of that happening are slim indeed Even the CEO is accountable to a board, and boards everywhere – including the board at The Courage Place – are becoming more demanding, and willing to replace a CEO who doesn’t perform.” Charlie smiled at the fact that, even though he’d started the company, he still had to answer to someone else for his performance “While job security may be an illusion, finding the security of a calling is rock solid If you see your work as a calling, and not simply the means to a paycheck, there will never be a day in your life that you can’t find meaningful work to do.” Charlie laughed as he continued: “Of course, there might be days when the pay is low – we’ve all done more than our share of ...Traders Library Trade Secrets On-Line Manual Disciplined Trading How to Trade Your Way to Financial Freedom with Van K. Tharp, Ph.D. Why It's So Difficult for Most People To Make Money. z We have a limited capacity for processing information despite the fact, that the amount of information to which we're exposed doubles every year. z To cope with this limited capacity we’ve develo p ed a number of j ud g mental and decision makin g shortcuts. These shortcuts g enerall y hel p us, but the y also p roduce some serious p roblems when applied to the world of investing and trading. z Our emotions provide a background context in which all trading takes place. Emotions very seldom improve, trading performance, but they frequently take away from it. Key Elements of a Successful Trading Model Pa g e 1 of 8How to Trade Your Wa y to Financial Freedom 3/18/2003htt p ://www.traderslibrar y .com/tradesecrets/manuals/10990.html Pa g e 2 of 8How to Trade Your Wa y to Financial Freedom 3/18/2003htt p ://www.traderslibrar y .com/tradesecrets/manuals/10990.html Discipline Factors z Respond-ability z Beliefs z Low self-esteem. “I would feel much better about myself, if I were more secure financially." z Feelings getting in the way of trading or investing. Fear and anger are not useful to trading success. z Conflicts between internal parts of ourselves. For example, conflict might occur between your excitement part and the part that wants to make money. Pa g e 3 of 8How to Trade Your Wa y to Financial Freedom 3/18/2003htt p ://www.traderslibrar y .com/tradesecrets/manuals/10990.html Self Image Inventory Determine your own level of self-esteem by answering each of the ten questions below using the following scale: 0 - It doesn't apply to me 1 - It seldom applies to me 2 - It sometimes applies to me 3 - It mostly applies to me 4 It definitely applies to me _______ 1. I tend to take losses personally. _______ 2. When people give me gifts I tend to feel uncomfortable or feel I need to give something to them in return. _______ 3. I tend to blame others for what happens to me or for my problems. _______ 4. I don't really enjoy being alone with myself. _______ 5. I have trouble being open with other people and I tend to hold back. _______ 6. I often need to defend what I say or what I do. _______ 7. I feet put down when I'm criticized. _______ 8. I tend to have some shame, guilt and blame. _______ 9. I get jealous about the good fortune and success of other people. _______ 10. I need approval, attention and praise from other people to really feel good about myself. _ ______ Total Respond-ability List your four greatest problems Pa g e 4 of 8How to Trade Your Wa y to Financial Freedom 3/18/2003htt p ://www.traderslibrar y .com/tradesecrets/manuals/10990.html Trading Problems Life Problems Belief Heirarchy B eliefs are filters which help creat your reality. Pa g e 5 of 8How to Trade Your Wa y to Financial Freedom 3/18/2003htt p ://www.traderslibrar y .com/tradesecrets/manuals/10990.html The Hierarchy of Beliefs A change at the deepest level would Sammy Chua John Wiley & Sons, Inc. Sammy Chua’s DAY TRADE Your Way to FINANCIAL FREEDOM 2 ND EDITION 14762_Chua_2p_ffirst.j.qxp 2/2/07 11:26 AM Page i Copyright © 2007 by Sammy Chua. All rights reserved. Published by John Wiley & Sons, Inc., Hoboken, New Jersey. Published simultaneously in Canada. Wiley Bicentennial Logo: Richard J. 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For general information on our other products and services or for technical support, please con- tact our Customer Care Department within the United States at (800) 762-2974, outside the United States at (317) 572-3993 or fax (317) 572-4002. Wiley also publishes its books in a variety of electronic formats. Some content that appears in print may not be available in electronic books. For more information about Wiley products, visit our web site at www.wiley.com. Library of Congress Cataloging-in-Publication Data: Chua, Sammy. Sammy Chua’s day trade your way to financial freedom / Sammy Chua.—2nd ed. p. cm. Includes index. ISBN-13: 978-0-471-74558-7 (cloth) ISBN-10: 0-471-74558-8 (cloth) 1. Day trading (Securities) 2. Electronic trading of securities. 3. Investment analysis. I. Title: Day trade your way to financial freedom. II. Title. HG4515.95.C49 2006 332.64′2—dc22 2005031909 Printed in the United States of America 10987654321 14762_Chua_2p_ffirst.j.qxp 2/2/07 11:26 AM Page ii CONTENTS PREFACE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . vii INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 CHAPTER ONE An Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 • The Stock Markets • The Exchange System • NYSE Time Lines • Listed Stocks • The Specialist System • Who’s Who on the Exchange Floor • The SuperDOT System CHAPTER TWO The Big Board and Nasdaq . . . . . . . . . . . . . . . . . . . . . . . . . 13 • The Over-the-Counter Market (OTC) • NASD and Nasdaq • Nasdaq Is a Negotiated Market • Understanding Market Makers • Information Is Power • Nasdaq Service Levels I, II, and III • Comparing the NYSE and Nasdaq • Electronic Communications Networks (ECNs) • Regulatory [...]... have to work a "system" of getting a Internet Your Way to a New Job 1 job, i.e., a tremendous number of activities that lead to interviews, performing well on those interviews, and negotiating a job offer Getting a new job is a job in itself!" Anyone, and that's almost everyone at some point in their career, seeking a job or career change should be aware of what tools and techniques are available, and... how you can utilize them to expedite your job search—and get that new job That includes building a professional brand to promote yourself, using job sites, social and career networking sites, blogs, instant messaging, as well as the tools that can help you manage and expedite your job search and build your career Job searching has changed from a once or twice in a lifetime endeavor into what is, for... Internet Your Way to a New Job 23 How to Use Your Network You've created a profile on a networking site, what next? The next step is to find contacts so you can add to your network On most networking sites, you can search globally for past and present colleagues and classmates, and you can add contacts from your email accounts There are also advanced search options you can use to find a specific individual,... they may be more likely to help you in return Internet Your Way to a New Job 13 Keep Track Create a list of the sites (and add them to your Favorites in your browser) where you have created profiles, so you can get to them easily Or, set up a Google or Yahoo! home page and add links or bookmarks to your page, so you can easily get to your profiles Keep track of your login information and your passwords... professional experience, and educational background Writing a Blog A blog (web log) is another good way to build your brand and share your credentials with the world You don't have to spend a lot of time or money on it There are free blog platforms available; a blog is easy to set up, and you can use a template (no need to know web design) to create your blog Writing a blog can be fun, as well as career enhancing... why branding is valuable: "Personal branding is about distinguishing yourself from other applicants applying for the same job By developing a memorable brand both online and offline, you can extend your reach and visibility and have the opportunity to be recruited based on your skills, personality, appearance, and total value As a brand, you are empowered to be your own manager, spokesperson, and most... websites, and accomplishments to help you make a dynamic, professional presentation to your connections, to hiring managers, and to recruiters A VisualCV is not only professional; it's quick and easy to create You can copy and paste from your ... he 2/5 Serve Your Way to Greatness says, it’s all dust in the wind So where does Ecclesiastes find meaning? Why, in his work Whatever work your hand finds to do, he says, it with all your might.”... going to provide meaningful service 4/5 Serve Your Way to Greatness to other people At the same time, service transcends self Many of you are members of Rotary, and as such have adopted the motto... of your attention shifts from your own mostly imaginary problems and onto someone else’s mostly real problems.” “A related paradox is this: you have to get out of yourself to find yourself To