FX.co ★ Eight important rules for traders from Stanford Graduate School of Business

Many people dream of high salary and promising work. These benefits are available to graduates of the world's best business schools. The theoretical foundation laid in such prestigious universities of the world, as the Stanford Graduate School of Business, gets reinforcements in practice. Businessmen are ready to share their exclusive knowledge and experience with everyone who wants to understand the world of entrepreneurship and finance.

Be a good listener

According to experts, the ability to listen and hear the interlocutor is one of the main components of success. It is especially important to distinguish the subtext and catch the hidden meaning of what was said, experts are sure.

80/20 principle

This algorithm is called the Pareto principle. It consists in the following: 80% of efforts give 20% of the result (i.e. most of the efforts do not give the desired results). Focus on those 20% of the efforts that give maximum return!

Strive to gain the trust of others

According to analysts, the ability to cause good feelings among others is a special art. In the absence of this skill, you must learn how to do it. The others' liking will help to gain credibility and achieve the desired.

Aim for leadership

Experts recommend to develop self-confidence, not to retreat from difficulties and not be afraid of failure. It will surely be followed by a boom, experienced market players emphasize. “The main task is to motivate and inspire your team to accomplish goals. The rest will get your confidence sooner or later,” experts say.

Do not be afraid of changes

Experienced market participants call not to be afraid of sudden changes, but to turn the situation in your favor. "It is changes that open up new opportunities for us," analysts emphasize.

Know your weaknesses

The ability to use your weak side as a strong one for the benefit of a common cause is a very important skill of a trader. The real inner strength of a person consists in the ability to correctly apply their imperfect qualities making them positive aspects of the personality.

Trust your team

You have to trust your business partners for the successful implementation of ambitious plans. In this regard, at the initial stage of the selection of a team, it is necessary to analyze what people are most suitable for business. It is impossible to create a strong team and work productively without honesty and trust, experts emphasize.

Do your job, regardless of the circumstances

Experienced market players urge not to give up a favorite and profitable business, even in case of serious difficulties. “If in doubt, just work on,” analysts recommend. They propose to remain focused in all circumstances and finish what you started “Learn to set clear goals, plan your time, and everything will work out,” experts sum up.