Everyone around us always talks about how important it is to dream and let your dreams prosper. But prosperous dreams are not everything – your dream has to evolve into action to get to the next level of that fun thing called reality. Forex comprises several combined dreams: independence, a different lifestyle and the opportunity to have the life you’ve always wanted.
But we always find some excuse or a very serious and well-founded reason why we cannot take this turn to action. The more important the dream, the more fear it will generate – according to Barbara Sher in her “Survival Guide for Dreamers.” Here we have compiled 7 ways to bury your dream even before you start – know your enemy with the naked eye and avoid the traps you create for yourself!
I don’t have a degree
In the 21st century, education is, of course, important, but in the case of Forex, it is not an obstacle. Most successful professional traders do not have a financial education. In fact, some of them get the title after succeeding in Forex.
For example, Jesse Livermore, the trader who inspired the “Trader Bible,” never earned a degree in Finance. In fact, when Jesse turned 14, his father took him out of school to earn money in agriculture, so every penny of his fortune was earned thanks to his self-education.
It’s too late to change something
No matter how old you are, in 10 years you’ll regret not having started today. Forex is not ballet or baseball, where age is really an important point to consider. Forex does not distinguish between age groups – whenever you want it hard and do your best, the world of trading will be at your feet.
Meet Ingeborga Mootz, the millionaire grandmother. It started operating after its 75th birthday! During his first 8 years of trading, he won 500,000 EUR. The beauty of Forex is that you simply need to find your ideal trading style – just as Frau Mootz did: it doesn’t use the Internet or any device, but it’s good with the articles. So the next time you think it’s too late to join the market, think again!
I need to achieve perfection first
This is the most common trap of the undecided. Most of them never really start. Because perfection is unattainable in general terms – it can always be improved, but it can never be perfected, and that is a rule. Also – you can’t improve without practice, and practice is impossible without imperfections.
There is no need for an example: if you read the biography of any famous trader, you will see that among his great victories there are few great falls as well. Trading icons also went through ups and downs, and nobody can say that the path to perfection has not been difficult. All you can do is take that stone in your path as a lesson, not a reason to give up.
I’m not sure it’s what I want
Well, you’ll never know until you try. Mental experiments will not help you determine your desires. You can study Forex from A to Z and never open a single trade – but this will not make you a trader and, in addition, it will not help you decide whether or not you could be one.
Let’s face it: only a few people know exactly what they want to do. Richard Dennis, the Prince of the Pit, was studying philosophy and was quite successful at it. But trading became his true passion: he started as an order broker, and this first interaction with the market left a significant mark on him. Never be afraid to try!
It’s too difficult
Even if Forex seems too complicated for you, treat your dream with interest and respect. It may seem impossible for you and your environment, but nobody really knows what is possible and what is not. And believe us – Forex is definitely not that hard to conquer.
As a child, Herbie Wertheim was not the smartest in the classroom: she had dyslexia, skipped classes and school and, in the end, ended up in the Navy. But this never stopped him. From being a child with zero expectations, he became a billionaire, owner of Brain Power Inc and an extraordinary investor.
The common misconception about Forex is that it’s like betting, and the game is irrational – well, the truth is that Forex has nothing to do with casinos. Only logic, numbers and the ability to read market signals.
Black market swans seem to be one of the most irrational things: people outside the market see them as a kind of practical joke. Does the most unexpected happen? No way! But little do people know that the creator of black swans, Nassim Taleb, actually based his theory on statistics, mathematics and risk analysis. It doesn’t sound irrational at all, right? Nor is your dream: you just need to find the right approach and skip the part where people judge you for it.
I have no time
You don’t have time for your dreams? Is it really a dream then? At first, Forex can take a long time, but once you design a plan for yourself, you will see how easy it is to manage time for your self-education, for market research, and for real trading. Also, once you dominate the market, you will have much more free time at your fingertips.
Most traders move full time sooner or later. Some of them choose investments as a resource for passive income. It’s all about time management and priorities – and traders know it. The best thing about Forex is that you can adjust your trading style to your lifestyle and this will be the best option, both for your time and your money.
Dreams are made to be persecuted and turn them into reality. Now you know what could stop you on your way to your Forex dream. The next time you feel that one of those excuses invades you, just say a resounding “NO” to any of those traps and continue with FBS!