“Think win-win” reminds me to strieve for a mutual benefit for both party, “He wins then I win too”. Now, “Think win win” is the 4th habit of a highly effective trader.
However, how can I apply this habit in money investment or trading in the stock market. Who are the 2 parties to strieve for a mutual benefit? I have been thinking about this question for a few days.
Finally, I found an explanation on how I can practise this “Think Win-Win” habit in stock market.
Imagine this, who is the strongest power in the stock market? Do you think you yourself can influence the market? Definitely, we as a retail investor or trader cannot influence the market at all. The people who has the power are the institutional trader or investor. They are loaded with huge amount of capital and therefore they can influence the market to go up and go down.
Everyone of us enters the market with a common goal to make money from stock market, no doubt about that. Now, do you usually care if other people in the market are making money or not? I am sure most of us do not care, I did not care much before too. However, I realized that we need to care if other people are making or not, and not just that, we need to think both of us are making money together, he wins and I win.
Why do I say so?
First, like I mentioned earlier, we do not have enough power to influence the market, we need to watch closely on the actions of institutional traders and we need to follow closely with them. Once they are able to influence the market correctly, they make money, so do we if we follow their foot step.
Secondly, as a retail trader, we need to recognize that we do not have enough power to influence the market. However, if all the retail trader are making a common action, the forces are pulled together and it increases our chance to influence the market to our favour. That’s the 2nd reason why we need to Think Win-Win.
Recognizing the fact that we cannot be a lone ranger in the stock market, so, we must “Think Win-Win” to strieve a mutual benefit with fellow traders such that all of us are making money together.
7 Habits of a Highly Effective Trader
- Be Proactive
- Begin with End in Mind
- First Thing First
- Think Win Win
- First Seek to Understand
- Synergize
- Sharpen The Saw
7 Habits of a Highly Effective Trader - Think Win Win
Welcome back to InvestMoneyLab, you can now join our Facebook Friend of InvestMoneyLab to get a FREE Book by T. Harv Eker Now! You can also receive latest profitable trading system and stock picks for free in future. Thanks for visiting!
