The Millionaire Mindset of Daniel Ally

One day, Daniel Ally realized that he was living far below his potential. He went to his local library and searched endlessly for truth. After discovering a few books, he decided to turn his life around.

  • Matthias Hagemann
    Matthias Hagemann
  • Trading Psychology

  • Updated October 15th 2020

After years of drug abuse and failing at life, Daniel Ally became a self-made millionaire at the age of 24. For many years, Daniel gave thousands of speeches, reached millions of people, and built successful companies, making him a millionaire in the process.

Search on the internet and you’ll find that TIME, Fortune, Business Insider, Yahoo, and other major publications have enjoyed Daniel’s work. He is also a top contributor on Entrepreneur Magazine.

In his inspiring TEDx talk, Daniel offers valuable insights into the inner workings of a millionaire’s mindset. Here is a summary in his own words:

On Books

Leaders are readers. If you want to succeed, you have to read. Most people in the world read about one book every single year. That book is Facebook. Before they even wake up and drink coffee or read their paper, they read Facebook.

If you study miscellaneous things, you get miscellaneous results. You become what you study.

On Individuals

We’re the sum total of people in which we surround ourselves the most. We earn the same income, we go to the same places, we do the same things, we think the same thoughts.

If you look at your five closest friends, you have got to ask yourself this one question: Who are my leaders and where are they taking me?

In other words, are my leaders taking me to the place where I would most likely want to be? If the answer is “no”, you need new leaders.

You need leaders who can inspire you and who can help lift you up to the goals that transcend your own possibility and thinking. You can only do that by getting around the right people.

On Goals

Goals make you stretch. Goals help you become more of who you are. So many people don’t know how to set goals because they get confused about the process.

Write your goals down.

I believe that a dull pencil is better than a sharp mind. I have a method that I teach around the world which is called the “20 Idea Method”. You select one overarching goal that you would like to accomplish, and there are 20 ideas that correspond with that particular goal.

Conclusion: Think B.I.G.

We have everything we need in order to succeed. When you believe in yourself, you will find that everyone in the world will believe in you. You also have to think big. When you think big, you’ll do big and you’ll win big. BIG is actually the three ideas that I wanted to share above:

  • B: The books you read
  • I: The individuals you meet
  • G: The goals that you set for yourself
Matthias Hagemann
Matthias Hagemann
Matthias’s career spans over a series of financial institutions. Trend following became a focus topic when he wrote his senior thesis on “The Psychology of Financial Markets”. He is portfolio manager at Hagemann Capital, a high-conviction investment fund.

Trading Psychology

Fortunes are not generated with our brains but with our stomachs. Trading psychology is an overlooked area and you will make significantly better trend following decisions when your own psyche is well-understood.
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