Do you want easy money?

in #money6 years ago

Good morning to you all,

Today I want to share just a quick 2 minutes story about something that just happened at the office. There is guy who is visiting us and as soon as 20 minutes has passed he talking about how he has made $20 USD into $99 USD. Ok I'll stop there.

IMG_20170425_153849.jpgI have never hold so much money in my life and it was went I swap money for a house. It was about $10 000 USD ( not the complete payment) but it was the down payment required for close the deal.

Usually when you start seeing some greens or profit you will overreact and sometimes it is just a volatile situation. When I started here in steemit I saw my account value from ~$150 USD to more than $2K USD and then currently sitting over $700 USD. How much have I earn/lost and invested?

Pretty much the only amount I've invested so far is $250 USD. I've invested time, I've learn a lot and I've also expand my network and even made few friends which I'm really happy about. But how much have I lost: $0 USD maybe electricity and internet costs and but over all the experience have been quite positive.

What does this story has to do with Forex? People will try what ever to get rich fast or die trying and I really mean everything. I've been in steemit more than a year now and I feel the journey has just begun. There have been some articles saying that if you start saving X amount of money since you are 20 years old you will end up millionaire and that is 100% true, problem with that way of thinking is the following:

  • You will never have enough if you are not happy with what you already have.
  • You will not wait 40 years to be a millionaire, in fact you want that to happen almost immediately or overnight. Let's face it if you need to buy 1 lottery every day that cost you $1 each over a year period chances that you will complete the year are less likely to happen, but then those who persists and keep doing it eventually hit the jackpot.
  • I'm not really into #Forex and I truly hope those of you that like that will keep doing it long enough that will eventually hit the jack pocket.
    My problem with the guy story is not being honest, he has just 1 month experienced he started with $200 USD and lost $180 USD, then he is recovering from $20 USD to $100 USD over a period of 15 days and I'm sure there are faster ways to get $200 USD doing some other stuff. People will just tell you the love story and the success part of the story not the whole thing. People do not want to struggle a bit to achieve something and they want instant gratification. I know some friends that do #Forex for a living and they are cautious, they don't like to brag about the wins but because they are embarrassed about the looses as well, thing is that they get to know the game and keep on doing it while living .

Te key part of whatever effort or project is to live it, this means early steemit adopters have been living it and they have been patiently waiting for the moment to happen, along the way they have learned, improve and expand network things that no one can take away. I remember someone telling me that you don't need to attach to money because as it comes it will go and so life, make sure to make the most of the latter as time is the only thing that can be recover.

Anyways, I wanted to really know your experience with this kind of businesses or trading options, what do you think? do you like them? are you currently trading ? What kind of trades do you like? What would you suggest to your younger self? What are the top lessons learned? Please comment and share if you like it, any upvote will be appreciated.

Sort:  

I was trading with Forex 2 years ago and I made 500 USD from 25 USD free sign up bonus in 2 months. I was trading 3-6h per day. But I got pneumonia disease (I think one of reasons was too much stress because of trading) and I stopped..

Thanks for the comment I highly appreciate it. Do you think it is worth the stress? Do you rather do something else for a living? How would you rate your overall experience?

I think it's worth the stress. I would like to do trading for living, but I prefer to hodl crypto. It's less stressful.

My overall experience is good, I enjoy trading forex & crypto, but I don't have enough time. Since I have more money than in 2016, I think trading today is less stressful for me than 2 years ago. I'm not worried about every euro.

Alright I'm happy to know you have improved your financial status and I'm glad you are enjoying a less stressful life now with the help of crypto.

Anybody who says they don't want EZ money is a liar. We all want something for nothing, as it were- I think we're all neurologically wired that way. Nobody trading forex has a 100% hit rate, there are no magic indicators that predict one single outcome. There are fundamentals and techniques to learn yes, but by and large, YOU are your own secret weapon. At the end of the day, your winning trades need to outweigh your losses (and you will have losses) - Period. There are any types of traders- day traders, swing traders, and investment type traders. Which time frame works for you and your life situation? You have to know yourself 1st, including how much money you can risk to be proven wrong. Are you even ok with being wrong? Are you emotionally detached from a trade outcome? The one thing that changed everything for me was realizing that money is made from how well you manage your risk and NOT from making the perfect trade. If you're stressed, its because you haven't managed the risk. Are you over leveraged?Are you risking more than you can afford to lose? Every asset class has it's own personality too. Know its personality like you would know a lover. Know how it reacts during the day or during FOMC. Let it speak to you. Most importantly....Plan your trade and trade your plan! Always be open to learning. It's a great way to earn money, but it isn't as straightforward as it seems. If it were, everyone would be doing it.

That's a really mindful insight and I know you have been there, on my side I've never wanted to do Forex tho I like trading cryptos because I believe they can move in a faster pace but I might be wrong. When I stopped trading cryptos the main reason was to create an small pot that I can play with while learning how to actually how to trade them.

Same things apply to crypto because BIG money creates the movement on the charts...not you..not me...or the collective retail market. Open a demo acct and start putting what you read about into practice!

Congratulations! This post has been upvoted from the communal account, @minnowsupport, by raserrano from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.

If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP.
Be sure to leave at least 50SP undelegated on your account.

Hi @raserrano!

Your post was upvoted by @steem-ua, new Steem dApp, using UserAuthority for algorithmic post curation!
Your UA account score is currently 3.811 which ranks you at #4407 across all Steem accounts.
Your rank has improved 23 places in the last three days (old rank 4430).

In our last Algorithmic Curation Round, consisting of 376 contributions, your post is ranked at #142.

Evaluation of your UA score:
  • You're on the right track, try to gather more followers.
  • The readers like your work!
  • Good user engagement!

Feel free to join our @steem-ua Discord server

Coin Marketplace

STEEM 0.26
TRX 0.11
JST 0.033
BTC 63869.25
ETH 3055.04
USDT 1.00
SBD 3.88