7 ways to bury your dreams
Information is not investment advice.
Everyone around us always talks about how important it is to dream and let your dreams prosper. But prospering dreams is not all – your dream has to evolve into action to get on the whole other level of this funny thing called reality. Forex is several dreams combined: the independence, the changed lifestyle, the opportunity to live the life you want.
But we always find some excuse or a very serious and grounded reason why we can’t take this turn to the action. The more important the dream is, the more fear it generates – says Barbara Sher in her “Survival Guide for Dreamers”. Here we gathered 7 ways to bury your dream before you even get to start – know your enemy by sight, and get around the pitfalls you made for yourself!
I don’t have a degree
In 21st century education is, of course, important, but in case of Forex it’s not the stumbling block. Most of the successful professional traders don't have a financial education. Some of them get the degree after they succeeded on Forex.
Say, Jesse Livermore, the trader who inspired the “trader’s bible”, never got a degree in Finance. In fact, When Jesse turned 14, his father pulled him out of school to make money farming, so every penny of his fortune was earned thanks to self-education.
It’s too late to change anything
Doesn’t matter how old you are, in 10 years you’ll regret you didn’t start today. Forex is no ballet or baseball, where the age is really a significant point you need to consider. Forex doesn’t distinguish between the age groups – as long as you want it passionately and put effort in it, trading world is your oyster.
Meet Ingeborga Mootz, a million-dollar granny. She started trading after she turned 75 years old! During her first 8 years of trading she earned 500,000 EUR. The beauty of Forex is that you simply need to find your suitable trading style – like frau Mootz did: she doesn’t use Internet or gadgets, but she’s good with papers. So next time you think it’s too late to join the market, think again!
I need to attain perfection first
This is the most common trap of procrastinators. Most of them never actually start. Because perfection is unattainable in general terms – you can always do better, but you can never do perfect, and that’s the rule. Moreover – you can’t get better without practice, and practice is impossible without imperfections.
There’s no need for an example: if you open a biography of any famous trader, you’ll see that among their great wins there are no fewer great falls. Icons of trading also went through ups and downs, and no one can say the road to somewhat of a perfection wasn’t rough. All you can do is take very stone on your path as a lesson, not a reason to quit.
I am not sure it’s what I want
Well, you'll never know until you try. The mental experiments won't help you determine your wishes. You can study Forex from A to Z and never even open a single trade – but it won’t make you a trader and moreover won’t help you decide whether you could be and would be a trader or not.
Let’s face it: just a few people know exactly what they want to do. Richard Dennis, the Prince of the Pit, was studying philosophy and was quite successful in it. But trading became his true passion: he started as a trading floor runner, and this first interaction with the market left a significant trail in him. Never afraid to try!
It’s too hard to do
Even if good old Forex looks way too complicated for you, treat your dream with interest and respect. It may seem impossible to you and your environment, but no one really knows what is possible and what is not. And trust us – Forex is definitely not that hard to conquer.
As a kid, Herbie Wertheim wasn’t the smartest one in the room: he had dyslexia, skipped the classes and school and after all ended up in Navy. But it never stopped him. From a zero expectations kid he turned into a billionaire, owner of Brain Power Inc, and an extraordinary investor. Read more about his story.
The common misbelief about Forex is that it’s like gambling, and gambling is irrational – well, good thing Forex has nothing to do with casinos. Only logic, numbers and ability to read the market’s signals.
Black swans of the market seem to be one of the most irrational things ever: people outside the market see them as some kind of a practical joke. The most unexpected thing to happen happens? No way! But little do people know, that actually the creator of Black swans, Nassim Taleb, based his theory on statistics, mathematics and risk analysis. doesn’t sound irrational at all, right? So does your dream: you just need to find you right approach and skip the part where people judge you for it.
I don’t have time
No time for your dream? is it even a dream then? Forex might be time-consuming at first, but once you create a plan for yourself, you’ll see how easy it is to manage time for self-education, market studying and actual trading. Plus, once you master the market, you’ll get much more free time on your hands.
Most of the traders moves to fulltime trading sooner or later. Some of them choose investing as a passive income resource. It’s all about time management and priorities – and traders know that. The greatest thing on Forex is that you can adjust your trading style to your life style and this will be the best option, for both your time and your money.
Dreams are made to be pursued and turned into reality. Now you know what can stop you on the way to your Forex dream. Next time you feel like one of those excuses, just say a confident “NO” to any of those pitfalls and carry on with FBS!