recently, I have been reviewing the book by Alexander Elder, Trading for a Living, reviewing his concept of the three Ms: Mind, Method and Money Management and I find it funny the way he treated the psychology the trader, traders comparing the losers with Alcoholics Anonymous. Elder recommended investors to operate in the stock market faced with losses in the same way that people in Alcoholics Anonymous is facing alcoholism. Even advised his “twelve-step method”, replacing the word alcohol with the word loss. Elder explains: The drinker can not resist the temptation because he continues to feel and think like an alcoholic. The trader does not know how to prevent losing their habit because it continues to lose feeling and thinking as a player. The alcoholic’s life goes downhill, out of control, when he denies being an alcoholic.

He denies that alcohol control your life and feeds the fantasy that is able to leave at any time (as smokers). Or think to change or reduce a drink bit is the solution to the problem. The trader losing his mind erodes gradually merging savings, being plucked while denying that it has lost its way in the markets. You can not accept the painful truth and the hidden himself and others. He speaks of his successes but never their failures. The drinker of Alcoholics Anonymous sobriety learns that begins in the mind of people. Traders learn to survive on the Stock Exchange that the problem was not with the methods or in the market, was in their minds.

One thing I recommend is searching the discussion forums. Make inquiries about it, see what people are talking to them, what their concerns or interests. (3) .- Your Project. Choose one that excites you: Do not get obsessed with sales. He thinks at first, at the beginning, you have to invest much effort in promoting and promoting. And if your project does not get you excited, soon abandoned.

It is so important to have knowledge and be enthusiastic. If you do not have great knowledge, you acquire. But enthusiasm is already acquiring more complicated Think about it, if your business project excites you, seduces you, you not only making money, you’ll be enjoying your work. Ideal, right? (4) .- Buy a domain and a hosting service and professional performances: This is a neglected area that many new Internet entrepreneurs If you take your business seriously, get the necessary tools. Your visitors will quickly. Stay away from domains and free accommodation. Just to get a bit serious and professional image considers these costs as an investment in your business.

(5) .- Position yourself in the search engines: Many companies make the mistake of believing that just create a great site, very nice, put there your products or services and expect that customers arrive as if by magic. Do not forget that you, at least at first, you’re a stranger on the Web. Your visitors will arrive by Google type search engine. So your position is so important. You can hire the services of a company, and you can do things yourself, to establish some kind of alliance with any company other than direct competition to yours but has some relationship to what you sell.

When a crisis comes, usually the first reaction of Senior Management is to reduce costs, downsizing, shrinking product lines and taking conservative measures. Are these actions correct? The answer will depend on the ultimate goal pursued by the company faces a crisis as a defining crisis of the following: significant loss of market share, falling prices, falling sales volume, income from foreign or stronger competitors, consolidation a local competitor and / or loss of customers strong. What is the impact of measures taken quickly to the crisis? Include: permanent loss of market share, loss of credibility with customers and suppliers, loss of major human resource and loss experience of new business opportunities. But we do face a crisis? Many are surprised when someone tells us if the market is depressed and its business is in crisis: you should invest.

It’s an expression we can counter it by saying: Are you crazy? Want to invest today I am in difficulty to lose more? No, my dear reader. When a market is in crisis not only affects you, affects the other competitors, so the best strategy to develop the Crisis will survive and win the market. (The only exception is if you or the administration, and decided to go out of business). Mention some alternatives and recommended actions in a crisis: 1. Do not stop investing. Do not say you spend a lot, just that you should not invest. Do not stop upgrading machinery, updating systems, procurement of equipment for new products or projects.