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In today’s episode, you’ll discover which are the 6 books that changed my life.
So listen to it now…
The Best Trading Books of All Time
Hey, hey, what’s up my friend?
In today’s episode, I want to share with you 6 books that changed my life.
I want to tell you the lessons I’ve learned from those books and how you can apply them to your own life as well.
Book #1: Rich Dad Poor Dad by Robert Kiyosaki
This is a book that you’re probably already familiar with.
There are many powerful lessons in the book. And the one that really hit me hard is something called delayed gratification.
In this day and age, people in my age have been working for a few years, their savings account is starting to accumulate. They start to buy things like luxury watches and cars to impress others. And this erodes their savings.
If you think about it, this $10,000 that you spent on a Rolex watch, can be used for your investment or trading instead. And if you compound the returns over the next 30, 40 years, that $10,000 could grow into six figures.
But most people don’t look at it that way. They look at it as “I want to impress my peers” or “I want to buy this watch because I want to show off” and stuff like that.
And by buying all this stuff to impress others, you kind of prolong your stay in the rat race because you buy all the stuff that you don’t need and so you’ll have to stay in your job that you don’t like because of your spending habits.
For me, I know that I want financial freedom. I want to have the luxury of doing what I want, when I want, without having anyone to answer to. And this matters a lot to me. So this is why I don’t want to be spending money on luxury items.
Yes, I do spend money to pamper myself, but I don’t put in everything I have on cars, on watches or stuff to impress others.
It’s fine to spend a bit of money to pamper yourself but not everything till you don’t even have enough left for your later years.
So delayed gratification is the first lesson that I learned.
I know that if I delay the wants that I have right now, then in my later years I can reap the rewards to come.
Book #2: Secrets of Self-Made Millionaires by Adam Khoo
You’re probably familiar with Adam Khoo. He has a very awesome YouTube channel sharing a lot of trading tips and tricks.
But before that, Adam was an entrepreneur. He talks a lot about mindset, neuro-linguistic programming. He has an education system to help people do well for the exams and stuff like that.
So when he wrote the book Secrets of Self-Made Millionaires, that book really resonated with me.
It is a “how-to” book, but the “how-to” isn’t ground-breaking. It isn’t revolutionary. The stuff that you learn in the book, you can probably learn elsewhere or learn online even.
But why I loved the book so much is because it altered my belief system. It made me believe that I can do it too and I can be a millionaire. I have what it takes to succeed in life.
So that book hit me hard because it altered my belief, and it sort of changed my identity to believe that I can achieve great things. And that book is powerful to me because of that reason. It enabled me to change my beliefs.
If a book can do that for me, I would say that it’s a book that has changed my life.
So that’s the book Secrets of Self-Millionaires Adam Khoo.
Book #3: How to Win Friends and Influence People by Dale Carnegie
This book has many powerful tips on EQ, how to interact with people, how to make people like you, how to make people love you, how to get people’s attention and stuff like that.
One of the biggest things I’ve learned is that you want to call people by their first name. Especially when you come across the waiters, waitresses, people who are serving you, they usually have their name tag over here.
And when you call them, let’s say their name is Rayner:
“Hey Rayner, could you fetch me a glass of wine?”
“Could you, please fetch me some water?”
You can see their eyes just light up. Because imagine throughout the entire day, people call them by, “Hey” and stuff like that. They don’t feel recognized or appreciated.
So when you call them by their first name, their eyes will light up. Trust me, I’ve done this many times, hundreds of times, and it always brighten up someone’s day just by calling them by their first name.
And that’s something I learned in How To Win Friends And Influence People by Dale Carnegie.
So that’s a powerful book. There’s much more stuff in the book, go and read it if you haven’t.
Book #4: Atomic Habits by James Clear
This is a “how-to” book, that’s backed by science and it helps you break any habits that you have.
It could be social media habits, or maybe you have a habit of being late for appointments or etc.
For me, one of the biggest takeaways I had is if you want to break a habit make it as inconvenient for you to do that habit.
For example, in the past, I’m always glued to social media, Facebook, Twitter and trying to see what people are doing.
You go to social media for one minute and you end up spending 20 minutes over there. You do that multiple times a day. You can see that the hours are spent doing nothing.
So I made it difficult for me to log into my social media account. How did I do it? I logged out of all my social media accounts. And if I want to log in, I have to put my username, my password to enter. And that’s a hassle to use social media.
So once I’ve adopted this approach, my social media usage has dropped drastically because it’s so inconvenient to use it. I must type in my username, my password, and I might as well do something else. That’s how I break that habit.
And that’s from Atomic Habits by James Clear.
Book #5: The One Thing by Gary Keller and Jay Papasan
This book talks about that one thing you want to focus on, that one thing that will drive results for you.
For me right now, there are a few “one thing” that I focus on. For example, doing this video. And I tell myself I want to do at least one video per week because if I do one video per week, one year is about 52 videos.
It will impact people from all around the world, especially traders who want to learn more about trading. Just one video a week. That’s all.
As for my trading, all I know is that I just want to put on one trade that follows my trading plan. I know that if I put on the one trade that follows my trading plan, then in the next 5, 10 years, I will yield a positive expectancy or because I have an edge in the markets.
And I just tell myself, every year I just need to add funds to my account, once per year. That’s all. In the next 5 to 30 years, I’ll be able to grow that account substantially more than if I had not added any funds to it.
So just that one thing, to focus on. And when you compound it, right, it will yield massive results.
My question to you is:
What is the one thing you can do today that if you do consistently for the next 5 to 30 years will yield a result that you would dream of?
And trust me, it doesn’t require hard work. It just requires you to focus on doing one thing consistently over the long run.
You’ll realize that many of your fantasies or your aspirations are not far away.
Book #6: Go-Giver by Bob Burg and John David Mann
This book is powerful because it believes in giving value. It believes in giving first and not worrying about getting anything back in return.
For example, all my YouTube videos, training, my blog posts, I give it all away for free.
That’s because I have a philosophy where I want to be a giver.
I’m willing to give, I don’t care or worry about, what I can get back in return because I have experienced first-hand that the more I give, the more I will get back in return. I don’t know how it will come back to me, but I know it will.
This is a principle that you have to experience for yourself to see how powerful it is.
That’s why whatever I do right now is all about giving.
For example, I won’t say stuff like, “If you want to watch my YouTube videos then, you’ve got to give me $500 to watch my videos.” Or “If you want to read my blog post, then hey, you have to do something for me.”
Most of my stuff is out there for free except my premium content.
I know that by giving, it will reach more people. And when it reaches more people, there will be a small percentage of people who will decide to take up my premium training and pay for or whatever premium training that I’m offering.
That’s in a way getting back, what I’ve given. Usually when you give, what you get back is many folds. That’s kind of like, one of the laws of the universe, I can’t explain it.
But I’ve experienced it first hand in the TradingwithRayner business. I’ve experienced it first-hand in people’s relationship where I just focus on giving and I’m surprised by what I get back in return even though I didn’t even see it coming.
So these are the 6 books that have changed my life. Maybe there are more to add in my later years. But right now, these 6 books are very powerful. If you have not read any of it, I recommend you do so.
That’s it. So with that said, I’ll talk to you soon.