TRADING LIFE AND WHYS
Today I want to speak to you about TRADING LIFE and WHYs. Some say that you have to wait to get things done, thoroughly plan it, or just procrastinate for a bit. I believe that the best thing to do is just to get up and get moving. And that’s why I chose these three topics.
First of all, let’s talk about LIFE.
Really: what is it you’re doing to get to the next level in your life? Now this is something one of my friends has sent me today – the author talked about starting new things in life. Let’s say you’re on a new journey of trading or starting up a certain business. The first five years of that experience can be absolutely terrible.
But after 20 years, it’s fantastic! And if the last let’s say 5 years are terrible, to pass on or stop it, you look on the full journey as to be a bad journey when really, the twenty years in the middle were great.
It’s exactly the same if you spend twenty years doing something that’s absolutely terrible, but the last 5 years of it seem good. You look back on that experience as it being a good one because your last experience has been positive.
The 80/20 Formula
That’s a typical “80/20 Formula” and it happens all around us. You’ll see it showing up in many parts of your life. Whatever you’re doing, you need 80% of results from 20% of your effort. That’s key no matter what you do.
Today we just don’t see the 80/20 Formula happen. For instance, the owner of a company owns 80% of the company while putting in 20% of his energy and the employees in theory put 80% of their efforts in and get only 20% back. That’s where you need to flip the table for yourself and start practising the 80/20 Formula in your everyday life.
What’s going to be your path, your pivot to where you want to get? You need to be looking at an industry that can give you the 80/20 formula. Let’s say you’re going to properties, constructions or retail industry. It’s going to take a lot of seed capital, time, employees, premises, and so on. Never mind the skill-set!
So the industry you need to be looking into is one that doesn’t take a lot of seed capital and starts where it’s mainly driven on skill-set.
And that’s TRADING.
Once you get the ability, you can go on and trade other people’s money on a MAM account and basically get 80% of rewards for 20% of your efforts.
I get it. You’re not going to get there for free and you’re going to have to work. If you think that you don’t, then it’s probably not for you.
But if you are willing to work for it, I want you to look at it and you’ll see that:
- Trading is going to give you time
- Trading is going to give you the skills you need
Then you can do it from home or on your way to work – there is no fixed address. You can have all that’s needed for trading in any place as it’s all virtual.
After that, you’re going to trade other people’s money. You’re going to have a contract where the owner of the account gets for example 70% and you get 30%. So if you make 100k a year, you get 30k and they get 70k.
As I’m sure you’re aware, everything big starts small so once you have the ability, you’re just going to multiply it. Not one person ever gets rich from just one pillar. So one of the pillars is you trading for yourself. The next pillar is you knowing the skill-set and trading other people’s money. You’ll then have the ability to go and teach other people. There’s no big cash input needed for that. All you need is time, commitment and dedication.
I ask a lot of people about their whys. Why do you do what you do? I then hear family, financial freedom, time freedom, materialistic things such as houses and cars, helping others, giving to the community, giving to people that are not well off, etc.
What I never hear is this: “Me.” People never say “I want to do this to help me. I want to do this so I can get time and financial freedom. I want to do this so I can then be a better version of myself.” I always hear about other people. Start to do things for YOU. Once YOU are OK then you can start helping others.
What is the alternative?
If you’re going to BE, you might as well BE SUCCESSFUL. Being successful is difficult. Being poor is difficult. So if I’m going to choose, I’m choosing success. People say “I don’t have the money.” Then go and ask someone for the money! This is what I’ve done in my life. I had to find the money but it didn’t just fall from the sky. I had to go to parents, family members, friends, banks, and whoever it was to get the money I needed to really push on.
So this is what you might need to do as well. Don’t think it’s a bad thing to ask for help. It’s why a lot of people don’t succeed – they’re a bit proud and they procrastinate. If you’re going to do something, then go out and do it. Once you start to really make a move, things will fall in place.
You don’t have to be GREAT to get started but you have to START to be great. You’re going to start and fall, but you won’t stay down. You’re going to get back up and keep moving forward. That’s how winning is done.
MORE ABOUT TRADING
To start with, you don’t need any broker. You just need the ability and basically create the experience before you even think about opening a brokerage account. Create that “sandbox” and open a demo account – create the experience before even thinking about opening a live account. You can make the mistakes with no financial risk. You don’t need to open a brokerage account where they give you bonuses for putting money in. It doesn’t work like that. It’s just a numbers game for them…
Once you create that environment, only then you move forward to get a broker. Once you’ve got the broker, you “test” him. Is it good to put funds into the account? Let’s say I put £100 into the account and I extract it on the same day. I want to know how easy it is to get my money out of that broker. If it comes out the same day, all good, no problem. Then I am happy to put my money with that broker because I know it’s safe.
I want to know that:
- I can move my money around as much as I need
- They’re safe. They have “the badge”. If they’re in the UK, they are FCA regulated. In Australia, they are regulated by the ASIC. If they are based in the USA, they are regulated by the SEC.
So there’s three things you need to have with this:
- You need to be willing to commit,
- willing to invest into your personal development,
- and willing to change your and your family’s life.
I hope you enjoyed the article on trading life and whys.
Enjoy the rest of your day and stay safe!
You can watch the original video with Dale Gaucas on trading life and whys here: