[KateMoloney]

Demartini Method update – Traits of the Greats

I am currently doing the method on owning the traits of Warren Buffett. Whilst he is technically not a trader (unless you count him as a MR trader) I do admire his long term focus and how he compounded his wealth over decades. He stuck to investing even when he had losing years or when the media was saying he was ‘out of touch’.

As part of owning the traits, you research the individual extensively, making a note of traits you admire and despise.

First admired trait “Focus (without distraction)”. I then look for moments throughout my life where I have demonstrated that trait and who has perceived me to have demonstrated that trait. Ideally I want to find 20-30 moments in my life where I have demonstrated “Focus (without distraction)” to the same degree that I perceive it in Warren Buffett.

Interestingly, after going through this process I noticed that my own focus increased extensively and one of my default habits “next shiny thing syndrome” diminished significantly.

[KateMoloney]

An update.

After last mentioning the pursuit of pleasure, I’ve started looking at my own personal habits and how they will impact on trading performance (and overall life fulfilment).

About 8 weeks ago I started going to the gym regularly. Previously I would go for 45 minute walks every day, but have found the gym to assist with my mental function, especially when it comes to learning coding!

I’ve also been looking at some of my eating habits. I don’t drink coffee or alcohol, but I do love chocolate and it was an addiction …. so I’ve cut that back to 30% of what it was and am feeling much better for it. No mid afternoon slump and my focus has been much greater.

With trading, I am taking a holistic approach and rather than ONLY looking at systems, back testing metrics and coding, I want to look at other factors that will contribute directly/indirectly to performance over the medium to long term.

[KateMoloney]

Hi Terry,

Interesting what you say about being scared by past experiences.

Not to pry, but there are ways you can shift mindset limitations so they don’t impact your future. Potentially you could be holding yourself back from greater achievements.

Many years ago I went through some major financial challenges and there was a lot of emotional pain that came with it. It led to a career as an insolvency strategist assisting others (and helping myself) navigate some terrible investment decisions. What I learned assisting others is that most people who go through major financial challenges will never bounce back. So that led to a journey of studying mindset and human behaviour because I wanted to figure out how to bounce back financially without putting a ceiling on my future success.

It is something I am incredibly passionate about. If you want to have a chat, let me know. Happy to share some resources that may assist you.

[KateMoloney]

Just posting here for other peoples reference…………

Initial Description: Sub accounts
Response from IBCS at 31-Aug-2021

Yes, if you want to set up another trust account, it is not able to set up a sub account under the existing trust account with the same login access due to the system limitation. Moreover, given the Friends & Family account is another account type, you may set up with different username from our homepage. Moreover, the purpose of friends & family account is designed for trade allocation and sub accounts management. If you want to manage the account(s) for your friends and/or family members, you may set up a friends & family account at first and then initiate sub account application from the advisor account.

To open a Friends & Family account, you may go to our homepage > click “Open Account” on the right top corner > Click “Start Application” and create a new account > Please choose “Friends & Family account” in the page of “Customer Type” once you have verified your application > Fill in the application till “Status” page

To initiate sub account invitation, please login the advisor account > click Send Application Invite > after creating a new sub account, please choose the account type in the “Advisor Client Application/ Choose Account Type” page.

Should you need any additional assistance, feel free to contact us.

Regards,

Alex Y.
IBKR Application Service Group

[KateMoloney]

ASX Momo -7.98%
Growth Port -0.99% (1 trade away from being fully invested in this portfolio)

US Momo -0.71%
US TLT +6.41%

Started the system design component of the mentor program. Looking forward to designing some shorter term strategies.

[KateMoloney]

In relation to Elon, he has a high risk tolerance and is very dedicated to his mission of inter planetary habitation.

Not everyone has such a high tolerance to risk or wants to pursue such a challenging business.

[KateMoloney]

Great question Omar.

There is a process within the Demartini Method where you can clear your fears. I try to do this process every quarter.

For example, if you had a fear of losing, say, 30% of your trading account, you would write down a list of 20 – 30 benefits to you if this were to occur. You would look at the benefits to you in all 7 areas of life – mental, vocational, financial, family, social, physical, spiritual (life purpose). You look at benefits and then secondary and tertiary benefits of the original benefit.

For example, mentally the benefit may be learning to deal with the fluctuating market. And the benefit of that is you have a longer term vision/focus with your trading. Benefit of that is you stay in the game long enough to eventually realise profits and then compound them (this is where the real wealth is…).

In relation to accepting failure, it is similar to clearing fear, in that you define what failure means to you. It might be wise to look at a past failure that challenged you. Then you write a list of all the benefits to you (that that failure occurred) and then write a list of all the drawbacks if you got what you wanted (essentially the fantasy of how you wished things were…)

[KateMoloney]

Thanks for the contact. Nick gave me his details as well.

He called me sir and referred me to the IB hotline.

[KateMoloney]

Response from IB below.
Still following it up, trying to get sub accounts.

Just curious if any others in the group had this issue or whether there is certain criteria you have to meet to get a sub account?

---

Dear Kate

Thank you for contacting Interactive Brokers. Unfortunately, linked account application is currently not available for you to apply. Instead, you may set up a new trust account application from our homepage with using different username and email address,

Should you need any additional assistance, feel free to contact us.

Regards,

Alex Y.
IBKR Application Service Group

[KateMoloney]

If you had a portfolio of say 4-6 systems then the underperformance of one system for the short term wouldn’t matter so much.

[KateMoloney]

Enjoying these examples, some good threads within the forum – thank you!

[KateMoloney]

What did you find from your research of that system Tim?

[KateMoloney]

[KateMoloney]

Had a look at the website. The trading results over the last 3 – 5 years have not been that stellar.

Drawdowns are rough too.

[KateMoloney]

When is the next group call due?

Were they supposed to be monthly?

[Author]

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