The Secrets of converting Rs.1 lakh into Rs.3 Crores in just 5 Years

 

5^th July 2021

The Secrets of converting Rs.1 lakh into Rs.3 Crores in just 5 Years

Dear Fellow Travelers,

Namaste! Mark Minervini is one of the world’s most successful stock traders and an international performance coach. He is a former U.S. Investing Champion and the author of the best-selling books Trade Like a Stock Market Wizard and Think and Trade Like a Champion. Starting with only a few thousand dollars, Mark turned his personal trading account into millions, averaging 220 percent per year with only one losing quarter for 5 consecutive years; an incredible 33,500 percent total return. To put that in perspective, a $100,000 account would explode to more than $30 million.

He has shared 7 Secrets for the above performance in his Book – “Mindset Secrets for Winning”. I am sharing the same.  

TRUTH #1 WINNING IS A CHOICE: -

In sports, business, and every other aspect of life, we choose to win, and we choose to lose. That’s right! We win when we decide that we’re going to be winners. And if you don’t know how then you’ve chosen not to seek the available resources to learn. Champions understand that hope is not a strategy. The best performers never trust greatness to chance. Instead, they actively create the conditions that allow them to be at their personal best. They decide to be winners, and they live each day with that goal in mind because they recognize that when conditions are right, nature always fulfills its promise. Winning or losing is self-created, but only winners are able to admit that. In the mind of a champion, there is no doubt that winning is a conscious choice! Do you believe the above statement to be true? If you don’t, then, by default, you accept that you have no control over your life. Or maybe you accept it partially but still believe luck plays a role. Well, if that’s true, then what’s the point of really trying to succeed at anything —just to see if you get lucky? If you don’t believe that you are creating your world, then you’re at the mercy of circumstances. From time to time, you can be lucky or unlucky.

The belief that winning is a choice that applies to more than just a one-time event. It applies to your entire life! Any given set of circumstances can be used to create something positive or negative, depending on how you perceive the world and the choices you make. But it’s up to you to create the right conditions. Our greatest personal power is the ability to direct our minds and choose. Real empowerment comes when we realize that every action, reaction, and emotion—happiness, sadness, anger, and love—are all choices.

In the long run, luck has very little to do with success or happiness, and the choices we make shape our world.

 

TRUTH #2 YOU OWN IT ALL: -

You cannot escape the responsibility of tomorrow by evading it today. —ABRAHAM LINCOLN The second empowering truth is even more challenging: You are the creator of everything that you experience, and no one has any say over what comes into your life without your permission. You create the life you choose. How you perceive the world and respond to events creates your reality. Therefore, you are the owner of your life and everything in it!

Once you recognize this, you will appreciate that life is not about finding yourself or finding what makes you happy. Life is about creating yourself and your circumstances with a mindset that starts with, “I am the source.”

Taking ownership is not about cause and effect. Ownership means taking responsibility, but that does not equal blame. It’s about developing and exercising your ability to respond. You make choices, and there are consequences. Maybe you made the choice to go down a particular street and you got hit by a truck. Did you know the truck was going to hit you if you drove down that street? Does the answer change the fact that you now own the result?

 

TRUTH #3 GREAT ACHIEVEMENT IS A PROCESS: -

I put my heart and soul into my work, and I lost my mind in the process. —VINCENT VAN GOGH. This is a fundamental truth that all champions come to understand. Winning is a process, and you must trust the process and allow it to unfold; otherwise, you will give up because you will want too much too fast and make the critical mistake of skipping important steps.

The Power to Create, the Power to Destroy Everyone has both the builder and the wrecking ball inside. The key is to feed the builder and starve the wrecking ball. As a builder, you know winning is the result of a great performance, and a great performance is a function of great execution. But thinking about winning can pull your focus off the proper steps. Thinking about the process is the answer.

TRUTH #4 EVERY RESULT CONTAINS A LESSON: -

There is no such thing as failure, there is just giving up too soon. —JONAS SALK No one ever “fails” at anything; failure is an illusion, a judgment, an opinion. In everything we do, we always succeed at producing a result.

Every outcome—win, lose, or draw— contains information that informs you about where you are in the process: what you’re doing correctly and what needs work. In this way, there is a teacher in everything, and learning from your results is the only way to make meaningful and lasting progress. Since winning is a process, it takes time, effort, and refinement to get to a big goal. The higher the mountain, the more climbing it takes to reach the summit. Along the way, you will have setbacks. You will fall down—everyone does. If you do not learn to see setbacks as lessons, you will always end up seeing yourself as a failure because no one lives a mistake-free life. Making mistakes is inevitable, but learning from them is a choice.

TRUTH #5 WILLINGNESS IS MORE IMPORTANT THAN DESIRE: -

The willingness to do creates the ability to do. —PETER McWILLIAMS. Sometimes a person will tell me, “I’ve tried everything, and I just can’t succeed.” I always answer, “You couldn’t have tried everything, because if you did, you would have succeeded.” Then I ask, “What are you unwilling to do?” That changes the conversation. When you say, “I can’t,” what you are really saying is, “I won’t.” Whenever you are faced with failure, nature is telling you that you have not done what is required to succeed. It’s not saying you can’t—it’s telling you not until you are willing to do “X.” It may be that you simply need more time doing what you are already doing.

How willing are you to make your dreams a reality? The life you have is the life you have been willing to put up with. Willingness means you embrace the journey as much as the destination. You become the embodiment of your dream, and you live it. Only when you are truly willing to do whatever it takes, and you align your belief system with your actions, can you reach the stage where no amount of discouragement can knock you off track. For the willing—nothing is too unreasonable.

Ask yourself, “What do I want to achieve or become? How willing am I to make it happen?”

TRUTH #6 RECORDS ARE MEANT TO BE BROKEN BY PEOPLE JUST LIKE YOU: -

Adversity causes some individuals to break; others to break records. —WILLIAM ARTHUR WARD. Humans are propelled and inspired by trailblazers, those who have gone before us successfully. When you know what works, when you know what others have done, you can set your sights on similar goals and even exceed them.

In 1994, I made it my stock trading goal to exceed the investment record of one of my heroes, the great Paul Tudor Jones, who reportedly achieved four consecutive years of triple-digit returns and a fifth-year up 99.6 percent. To reach that goal, I would have to return a minimum of 3,950 percent on my money over 5 years, averaging 100 percent per year to turn $100,000 into more than $3 million. Considering that never in my life did I come even close to this level of performance, obviously, it was an incredibly ambitious goal. But with all due respect to Mr. Jones, I knew he was “just a man,” and all previous successes provide the road map to greater successes. Therefore, anything he achieved I could exceed. I studied Paul Tudor Jones, the man—not just the way he traded, but more importantly, his beliefs. I learned that Jones was very risk-averse; controlling the downside and limiting losses form a foundational part of his trading approach. Although I never knew much about his specific trading strategy, I approached trading as he did where risks were concerned. I applied that thinking to my own strategy while I worked on improving the process. With my belief system aligned with that of a proven champion, I was confident I could achieve what he did and even exceed it. Fast-forward a half-decade, and the results were in: I did it! I produced triple-digit returns, 5 years in a row. But my cumulative performance was not the 3,950 percent I had hoped to achieve—it was almost 10 times that—a compounded total return of 33,554 percent. I averaged 220 percent per year, which turns that same $100,000 into more than $30 million! Suddenly, what once was hard to imagine became my new reality. We will never experience what we’re remotely capable of unless we believe that the heroes we admire are really role models, showing us what’s possible—what we, too, can achieve and exceed.

TRUTH # 7 IT’S NEVER TOO LATE TO BECOME THE PERSON YOU ALWAYS WANTED TO BE: -

Nobody can go back and start a new beginning, but anyone can start today and make a new ending. —MARIA ROBINSON. Have you ever thought, “It’s too late?” Other excuses we hear include, “I’m too old or set in my ways”; “I can’t change now”; “I wish I knew earlier what I now know.” Not true! Gladys Burrill ran her first marathon when she was 86 years old and became famous after completing the Honolulu Marathon at the age of 92. She persevered for 9 hours and 53 minutes to the finish line. As a result, she was recognized by Guinness World Records for her incredible accomplishment. Teiichi Igarashi, at age 96, became the oldest climber to reach the summit of the 12,388- foot “goddess” known as Mount Fuji, an active volcano about 100 kilometers southwest of Tokyo. Igarashi’s conquest of Fuji came nine days after 91-year-old American Hulda Crooks from Loma Linda, California, became the oldest woman to reach the summit.

Whether you are 25 years of age or 75, you can always come up with the excuse that it’s too late or you should have started earlier . . . But it’s never too late for anything you want to try, especially to become the person you want to be.

THE CAUSE, NOT THE EFFECT: -  

All the above beliefs are not something we refer to once or use only occasionally. These are the gears that make up our internal compass and the invisible force that affects everything we do. Empowering beliefs are the common threads that run through all elite performers. With them, we create a supportive mental framework for ourselves, which in turn creates a winning environment. Some people will say, “Sure, it’s easy for a successful person to think positive.”

I can assure you that champions held these beliefs before they became champions, and that’s why they succeeded—not the other way around.

Have A Happy Learning from the Champion.

Follow me on Twitter @hiteshmparikh Or on Whatsapp - +91-9869425399.

 

Live With Passion…Invest With Passion.

 

Hitesh Parikh.