Have you started working towards the life you want? There is no doubt about it. To get there, you must be willing to do what others will not. In fact, there is a reason why everyone around you is not wildly rich. You must take your trading from the ordinary to extraordinary. Work smarter & harder!
Busting your butt at the job everyday might get you somewhere one day, maybe. But if you look around, you’ll find there are other ways.
Often, they require risks. Most people fear the consequences of risk, despite the reward. You have to look beyond the risks and recognize the potential for reward. Understand, EVERYONE who has ever become wealthy did so by taking a risk. EVERY SINGLE ONE!
In business school I learned that the greater the risk is, the greater the reward. When it comes to spending money, nearly everything is risky. You can buy a car and it can break down the same day. But, when we make the decision to buy that car, we have therefore decided the reward is greater than the risk.
When we invest, we are accepting the fact that the investment is with risk. As investors, our goal is to first measure the risk to reward. If the reward far outweighs the risk, then we should see opportunity. Our next goal is to find ways to reduce that risk as much as possible. As traders we institute proper money management & risk management techniques to do just that.
By utilizing these techniques properly, we can increase the potential for acquiring the reward substantially over the risk factor. Not only does this give you peace of mind, but also confidence. And when that reward is reaped, your confidence grows expediently! Knowing these points will help you take your trading and your life from the ordinary to the extraordinary
Know Your Personal Aversion to Risk
We all have a different tolerance for risk, also known as aversion to risk. More accurately, when it comes to money, we all have a certain level of tolerance for fear. Some more than others. What makes the ordinary become extraordinary, is when we allow ourselves to conquer that fear. It can be ordinary to fly in a plane for most people, but when someone decides they want to go skydiving, we consider it extraordinary.
It’s doing what others can but won’t do. Waking up extra early to write that blog post. Taking the time to do a workout after a long day for work. Spending a few hours, a week studying, long after leaving high school or college. Writing and pursing a business plan. These are all things most people can do, but many are unwilling to do.
What you realize is that therefore some fail, and some succeed. It is not because they know something you do not or are better or smarter or more talented then you. It is because they took the time and put in the effort over the long haul, without giving up. Think, survival of the fittest. It is the difference between going from ordinary to extraordinary.
While they strive day in and day out to accomplish their goals, the competition is doing the same exact thing. The difference is, over the long term, these competitors fail, give up, or go a different direction. Like air, the crowd thins at the top of the mountain. Those left standing will take the market share of consumers who desire the product or services you offer. Those who are willing to make the investment will reap the reward, because after due diligence, they took the chance.
Seek Wisdom, Seek Knowledge. The foundation of trading ordinary to extraordinary.
One of my favorite verse in the Bible, found in Proverbs 4:5-9 says,
“Get wisdom, get understanding: forget it not; neither decline from the words of my mouth. Forsake her not, and she shall preserve thee: love her, and she shall keep thee.
Wisdom is the principal thing; therefore get wisdom: and with all thy getting get understanding. Exalt her, and she shall promote thee: she shall bring thee to honour, when thou dost embrace her.
She shall give to thine head an ornament of grace: a crown of glory shall she deliver to thee. Stop waiting, time & opportunity are passing you by every single day you wait to get started.“
The more we are willing to learn and pursue in learning, the greater we will be rewarded and the easier it will become to let go of our fears. Fear is an investors enemy. Not only is fear the enemy but also our emotions. Or more specific, our actions dictated by our emptions. one of the biggest problems I see in traders is the amount they allow their emotions to be manipulated.
Take a look at the VIX index. The VIX is an actual chart that shows you the measure of fear that traders in the market are feeling by analyzing option prices. Its very purpose is to gauge market risk and investor sentiment. The very existence of such a measure should tell you something about just how significant fear is in trading.
Recognize the Wolves in Sheep Clothing
Realize there exist an EXCEPTIONALLY large business for market manipulators to do their works in. Everything from forums and stock chat sites to market and business news sites all take stock (no pun intended) in making market predictions. Ask yourself something, if you had a job that required you to make market predictions day in and day out, could you do so accurately?
Unlike the oversight found in stock markets, Forex news writers do not have to disclose their own positions & holdings. Keep that in mind next time you might be considering their opinions when trying to figure out which way a currency pair might move.
Among others, this is one of the reasons I developed the Forex Destiny Training Course. With all the available services out there, it can be difficult to know who you can trust to give you real and usable information as you develop as a trader. I built my course to try and cut through all the garbage.
You begin by learning foundations about not only the trading market but also what it takes to trade for a living. The course then goes into understanding the different brokers and your trading account. I then cover how to get set up, how to design your charts and why, and exactly what I do and use every single day in my own trades. If you’ve been following any of my social media accounts, you know exactly how successful this system has been.
This is your opportunity to find your own success in trading and finally discover you own destiny. Take your trading and your life from the ordinary to extraordinary. You begin by learning foundations about not only the trading market but also what it takes to trade for a living. The course then goes into understanding the different brokers and your trading account. I then cover how to get set up, how to design your charts and why, and exactly what I do and use every single day in my own trades. If you’ve been following any of my social media accounts, you know exactly how successful this system has been. This is your opportunity to find your own success in trading and finally discover you own destiny. Take your trading and your life from the ordinary to extraordinary.
If you’d like to know more about the course, click here.