How to deal with information
overload.
These days there's so much
information available out there.
I mean YouTube, Facebook, Google,
e-mail, i's very easy to
get overwhelmed with all
this information.
But, there is a simple
3 step system that can
help you with information
overload and that's
what we are going to talk about
right now.
You see these days it's so easy
to get overwhelmed with information.
If you think back in the days we
walked into a library, I
remember my first trading books
that I read, I read in
a library.
But now we do have Google,
YouTube, Facebook, e-mail,
Instagram, and doesn't it sometimes
feel that there is simply too
much information?
So, how can you sift through
this? Because there's one problem,
when you have too much information
you can
experience what I call
analysis paralysis.
Meaning that you don't know what to
do because you have so much
things to analyze.
So let me give you a very simple
3 step system
on how you can cut through the
clutter and really get
rid of information overload
once and for all.
Step number one, define
what information do
you actually need.
Where is the gap?
For example, if you say,
"Hey, I want to make money
while I sleep."
You know me, the three ways
to do this is either trading
stocks and options, or investing
in real estate, or running
a business that does run without
you. Now, I must honestly say
I haven't figured out how to run a
business that runs without me.
So let's talk about these two,
trading stocks and options or real
estate. So which one of these two
do you want to do, right?
I mean obviously you're here, you're
listening to me so probably
trading is what you want to
do. If that's the case for
now, focus on this
and just stop
looking at investing in real estate.
Now when it comes to trading, again
you can break it down into three
main parts.
First, what to trade?
So if you already know what you want
to trade, if you want to trade
stocks, don't look at any
cryptocurrency techniques, right?
So number two is when
to enter?
And if you already mastered this
don't worry about it.
The third thing is when to
exit? But again, step number
one here in how to deal with
information overload is what
information do you really
need? If you need all of this
information start with step
number one, what to
trade.
So, this is where for me personally,
it helps to break down everything
in chunks of three.
You see that this here a three step
system on how to deal with
information overload.
There's three ways on how
to make money while you sleep,
right? And there's three major
things that you need to know when
trading. You see this is what makes
it easy for me.
Based on this, go
out and find the information
that you need.
Really think about it like going
into the library.
What section are you going into?
Are you going into the trading
section or are you going
into the real estate section?
Once you decide to go
with trading stick with it and
don't worry about what other things
you see because the grass is always
greener on the other side.
Once you know what information
you want, step number two
is, is this
actually applicable to
me?
Can I personally
do it?
Let me give you an example.
As you know I'm also invested in
real estate.
When I got started investing in real
estate this was in 2006.
And yes, I heard about
buying multi-family
units.
In 2006 I just
started my trading career, as you
know in 2003 my trading
finally turned profitable.
I did have some money but
not enough money to invest
in multi-family units.
Three years ago I did buy
apartment complexes and
they cost like 5.2 million
dollars. When you buy apartment
complexes you have to bring 20
percent of the purchase
price in cash to the
table.
So this was a little bit over a
million dollars.
Three years ago that wasn't a
problem at all for me to afford.
But many years back in the beginning
when I started building
my wealth it was impossible.
So, what was applicable to
me? Then in 2006
was buying single family
home. Just keep this in mind is this
applicable to me?
Another example from trading,
if right now you have a job,
you probably can not
day trade yet.
Depending on the time zone you might
or might not, but if you live on
the East Coast and you have to work
from 9 to 5 and the markets
open at 9:30 you can't
day trade. So, for now set
day trading aside, focus
on swing trading and then
as you become more successful
you add other information in.
There's so many things that you
can do but you have to find
what works for you.
The third thing is
ask yourself the question,
will I do
it? Let me give you a very personal
example.
If you have been listening to my
personal podcast you know that
a few episodes ago I
said that I'm pretty unhappy about
my weight. I'm right now
224 pounds and I was never
that heavy.
I want to do something about it,
but I can tell you right now three
hours working out per day
doesn't work for me.
Again we are at step number three,
"will I do it?" So, I can seek
information on how to lose a
few pounds, and if it would say,
"All you need to do is work out
three hours a day," I'll never
do it. So why would I even bother
with this type of information?
If I know my gap, what
do I need to know, right?
I need to know how I can create a
calorie deficit, and for me the
applicable thing would be
intermittent fasting because I can
easily do it I'm not a big breakfast
eater. Just to give you a really
quick breakdown one more time
about the 3 steps that
you can apply in order
to reduce information overload
is: number one, what information
do I need? Number two, is
this applicable to me?
Can I actually do
this? And step number three, will
I do it?
So these are the 3 steps that should
help you to cut through
all this information overload.
This is at least a 3 step approach
that I personally use to
make sure that I'm not getting
overwhelmed by information because
when you are overwhelmed by
information what will happen?
Analysis paralysis
meaning that you don't do
anything.
Is this helpful just to give you a
few tips? If so, leave a comment
and let me know if this makes sense
to you. I would really appreciate
any comments and saying, "Yep,
great! I'm doing it already." Or
"No, I'll try it." That's fantastic
too. Please, hit the "Like"
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who you believe that might find this
information helpful.