Benedict Chen

“If aggressiveness sometimes offends people, well, so be it. Patton liked to say the only mistake Robert E. Lee ever made was that he gave suggestions instead of orders, “and it cost him the war.” Leadership is not a popularity contest: Your job is to focus on the mission, and to get your people to focus on the mission.” –Patton on Leadership

“If everyone is thinking alike, nobody is thinking at all.” –Patton

Level 1

Position

People follow you because you’re the boss and they have to.   This is a given position to you and you didn’t have to necessarily work for it.

Level 2

Permission Relationships

People follow you because they like you and that you ask for a heart before you ask for a hand.  People don’t care how much you know until they know how much you care.

Level 3

Production Results

People follow you because of what you have done for the company, your career, and/or the establishment.  You can produce results and others respect that.  Momentum only begins at this level.

Level 4

People Development

People reproduction stage in which people follow you because of what you have done for them.   They have benefited as a result of your leadership and give you the credit for that.  Loyalty kicks in and becomes a key factor at this level.

Level 5

Personhood

People follow you because of who you are and what you represent.  You’ve become an icon of success and people follow you because of it.

I’ve been thinking about my personal weakness of over-trading no matter if I just made a profit or had a loss. It’s probably the biggest detriment to my account. I’d say I believe why this is happening is due to my scarcity mentality that there can only be so many opportunities in a day, which is a fallacy.

To overcome this, I believe I will have to approach it the same way I approach relationships. There are 6.45 billion people on this planet and if you were to meet 1 person for every second, you wouldn’t get through a couple percent.

If I approach the markets looking at it with an abundance mentality, screening for the BEST choice instead of the most choices, I will end up eliminating any leaks in my trading system.

1. Does it fit a minimum of 1:3 Risk Reward Ratio?
2. Does the Max Loss equate to less than 2% of my overall account equity?
3. Does it fit all the criteria of my trading system that I’ve set in place?
4. Am I mentally fit at the moment to make this trade?
5. Is there confirmation of this activity?

It’s better to play it like poker and fold, be safe and play TAG (Tight Aggressive).  Approach with scrutiny.

Long Term Goals:

• Be the Casino and Win Through Statistics
• Make the Process About Improving and Learning
• Focus on Devoloping the System
• Discover My Weaknesses and Compensate for Them
• Trust the Process and the Money Will Come

A friend of mine (whose name will remain anonymous despite his TV fame) recently introduced me to a concept.  In order to succeed at what he’s famous for, he applies a mindset that people are always watching him.  This originated from his background as a performer, but it’s true for social situations as well.

This concept applies greatly to sales, as you cannot expect to treat a waiter poorly and have your client not take note of it.  People everywhere will respond  to you and the weight of how you treat even the small guys will reflect on your overall appearance.

If indeed you are applying the fake-it ’til you make it strategy, it needs to be turned on always.  If you’re naturally a good person, it’s just a matter of habit.

Avoid speaking ill of others and instead–Speak well and of how great they are.

Charisma should always be set to “on.”