Introduction to Arkad’s Financial Rules In " The Richest Man in Babylon ," Arkad, a character renowned for his wealth and wisdom, shares seven financial rules that have stood the test of time. These principles, though ancient, remain relevant in today’s ever-evolving economic landscape. As we navigate modern financial challenges like rising inflation, volatile markets, and increasing debt, Arkad’s advice provides a solid foundation for achieving financial stability and success. Let's explore each of these rules an relate them to current financial strategies and trends. The First Rule - "Start Thy Purse to Fattening" Arkad’s first rule, "Start Thy Purse to Fattening," is a timeless principle that emphasizes the importance of saving a portion of your income. He advises setting aside at least 10% of your earnings as a foundation for building wealth. This idea, though ancient, resonates strongly today, especially in a world where many people struggle wit...

Last updated on: What is the Flow State?  The concept of Flow comes from Mihaly Csikszentmihalyi and his book of that name. Flow refers to a state of mind in which a person is fully immersed in and engaged with an activity, experiencing a sense of challenge, control, and enjoyment. This state is characterized by several key features, including the optimal balance between challenge and skill, complete immersion in the task at hand, and a sense of control and clarity. Learn more about Mihaly's work in his Ted Talk on the subject . In contrast to states of boredom, where the challenge is low and skill is high, or anxiety, where the challenge is high and skill is low, flow represents a state in which challenge and skill are matched in a way that leads to optimal engagement and enjoyment. This balance between challenge and skill is critical to flow, as it allows individuals to fully immerse themselves in the activity, losing themselves in the moment and experiencing a sense of effortle...

Last updated on:   "The happiness of your life depends upon the quality of your thoughts: therefore, guard accordingly, and take care that you entertain no notions unsuitable to virtue and reasonable nature." - Marcus Aurelius   How adopting a STOIC attitude can make you a better trader.   The above quote by Marcus Aurelius , a third-century Roman Emperor, encapsulates the central philosophy of Stoicism, an ancient Greek philosophy that emphasizes the importance of developing an attitude of acceptance, self-discipline, and emotional regulation. These principles are relevant not only to everyday life but also to trading in financial markets, where they can give traders an edge in the highly competitive and constantly changing environment. To succeed as a trader, one needs to develop a strong mental state that can withstand the ups and downs of the market. Mastering the mental aspect of trading can give traders a significant advantage over their competitors. This is wh...