Arnold’s 6 Rules to Success in Life
This is one of my favorite posts where I can speak about what motivates me.
I have always been a fan of Arnold and while this speech he gave Commencement Address University of Southern California May 15, 2009 still echoes today in life and in my trading today.
1. Trust yourself
Many young people are getting so much advice from their parents and from their teachers and from everyone. But what is most important is that you have to dig deep down, dig deep down and ask yourselves, who do you want to be? Not what, but who. This is what motivates me, exploring the path to who I want to be.
Figure out for yourselves what makes you happy, no matter how crazy it may sound to other people. Follow these Rules to Success. Day trading isn’t easy but it was the right choice for me despite what my friends and family said.
2. Break the Rules
Break the rules, not the law, but break the rules. It is impossible to be a maverick or a true original if you’re too well behaved and don’t want to break the rules. You have to think outside the box.
That’s what I believe. After all, what is the point of being on this earth if all you want to do is be liked by everyone and avoid trouble?
A trader should never break the rules of his trading plan, but being a trader in the first place is maverick!
Think outside the box for your career, but be disciplined to achieve success.
3. Don’t Be Afraid to Fail
Anything I’ve ever attempted, I was always willing to fail. So you can’t always win, but don’t afraid of making decisions. You can’t be paralyzed by fear of failure or you will never push yourself.
You keep pushing because you believe in yourself and in your vision and you know that it is the right thing to do, and success will come. So don’t be afraid to fail. The stock market offers plenty of opportunity to doubt yourself.
Never doubt your goals and ability, but you must learn from the mistakes to improve.
4. Don’t Listen to the Naysayers
How many times have you heard that you can’t do this and you can’t do that and it’s never been done before?
I love it when someone says that no one has ever done this before, because then when I do it that means that I’m the first one that has done it. So pay no attention to the people that say it can’t be done.
I never listen to, “You can’t.” (Applause) I always listen to myself and say, “Yes, you can.”
5. Work Your Butt Off
You never want to fail because you didn’t work hard enough. Muhammed Ali, one of my great heroes, had a great line in the ’70s when he was asked, “How many sit-ups do you do?”
He said, “I don’t count my sit-ups. I only start counting when it starts hurting.
When I feel pain, that’s when I start counting, because that’s when it really counts.” That’s what makes you a champion. No pain, no gain. My Rules to Success But when you’re out there partying, horsing around, someone out there at the same time is working hard. Someone is getting smarter and someone is winning. Just remember that.
Now, if you want to coast through life, don’t pay attention to any of those rules. But if you want to win, there is absolutely no way around hard, hard work. Just remember, you can’t climb the ladder of success with your hands in your pockets.
6. Give Back
Whatever path that you take in your lives, you must always find time to give something back, something back to your community, give something back to your state or to your country.