5 Reasons Starting a Business Beats FX Trading - Lewis Mocker

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So here’s a controversial viewpoint that might challenge some beliefs…

If you find yourself resisting the points below, all I recommend is asking yourself why.

1. Start up cost.

For $99 you can launch an info product teaching a unique skillset you’ve developed. Just 10 sales per month at $200 is $2k per month.

If a trader returns 4% per month out of the gate (rare) – they need a $50k account to make that.

2. No drawdown.

A high margin online business selling in-demand products and services doesn’t experience “account drawdown”. Slow months, sure. That’s why we build subscription products to stabilise revenue :stuck_out_tongue_winking_eye:

Traders can experience such volatile income patterns, that even the successful ones can’t live off their profits without turning grey at 24 :man_white_haired: Look closely, most live off business income (and rightfully so).

3. Effort-based growth.

If you want to grow your income in online business, you can work smarter and harder, test new marketing angles, use different sales strategies and tweak your offers. You gain immediate feedback, which provides confidence and certainty.

Traders must let their edge play out over long periods of time. Some grow old before they realise they don’t have one.

4. Guaranteed to work tomorrow.

Guess how you can always generate a reliable income? Selling in-demand products and services to people.

The FX market, on the other hand, is constantly changing. The best strategies of yesterday may not perform today… and as for tomorrow? Well, just wait for your edge to play out, and then you’ll know in hindsight.

5. Success rates & business assets.

Anything worthwhile has a low success rate, so the impact of failure must be considered by any (true) risk manager.

If you fail in online business, you’re left with: an impressive set of re-usable real-world skills like marketing, sales, design, copywriting, negotiation, social media, accounting, driving traffic, speaking and branding.

If you fail in trading, you’re left with: a knot in your stomach, and a great knack for spotting bullish MACD divergence

2

Lewis, you might post up some details about what businesses your successful clients are actually running, assuming they are nor forex trading.

4

I’m starting to feel Forex is a long shot. I quit my job last year to start a business which is continually growing as well as to master Forex. I’m seeing hindered progress with trying to trade successfully, even with the right risk management, using simple price action, paying attention to interest rates and being aware of the USDX. My account grows and then drops to below my initial deposit, it’s just seeming impossible no matter what i try…

Who else feels like this? :roll_eyes:

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5

We’re in the tail end of a pandemic and economic shut-down. Businesses will soon re-open fully and then start laying off even more workers than we have yet seen as business fails to recover quickly and government financial support becomes thinner. Not a time for new enterprises or decisive action. Protect your capital and wait.

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6

Note taken. Because the economy is in uproar the markets are reflecting indecisive moves, so do you recommend traders to wait 'till we have some clarity? Maybe i’m wrong to be forcing moves i see as ‘opportunities’ in such a bad time.

7

I have radically cut back on my day-trading plan - using much smaller positions and conservative TP’s.

I mainly watch the GBP/USD intra-day. In normal times this makes one major move between 0800 and 1400 UK time. Recently Its common pattern has been a tentative move, reversal into a tentative move, then reversal into another tentative move - maybe even reverse again. And all this is before the US joins in! Little opportunity for great profits.

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8

@tommor Just googled Lewis Mocker - I think that provides a LOT of context for this post, he’s an entrepreneur influencer… who provides a subscription service. :sweat_smile:

I mean not to say that he doesn’t make good points, but that where he’s coming from definitely puts things in perspective. :wink:

Here’s his Instagram account:

https://www.instagram.com/lewismocker/?hl=en

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I’m wondering if it isn’t just a pyramid scheme and none of the businesses involved actually makes its own profit.

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I posted back awhile "What do IBM, Disney and Microsoft have in common? "

Answer: they were all started during a recession.

Businesses will fail especially in travel/tourism/hospitality - but others will be born and existing who have adopted to the new reality will thrive.

In 12 months time the V will be complete.

Edit: should say that i started my own business back at the end of 1980 - thing is nobody told me that there was a recession - not saying it was easy, far from it, not saying it is still easy 40 years later, far from it - but worth every second :slight_smile:

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Oh - should add - Uber and Airbnb - financial crisis 07/08

GM - 1908 - (after the 1907 finance panic)

Burger King (brilliant burgers btw) started 1953 (US recession)

Oh - and CNN - started along with my good self - US inflation rate an eye watering 15%

Thats the thing about entrepreneurs - always looking for an opening :slight_smile:

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BP will not like it but who cares - I’m answering too much.

That’s all left side of the chart - what about the right side?

BusinessApplicationsUSA
BusinessApplicationsUSA881×291 18.1 KB

Edit: -source
https://www.census.gov/econ/bfs/index.html

13

The analysis seems biased. It’s counting too much on the business being successful and trading being unsuccessful every step of the way.

14

It can indeed be done in individual cases, but statistically it is the worst time choice available.

In our context, it would be very unsafe to devise a strategy that works well during the current crisis and assume it will work as well or better during normal market times. Likewise, it would be unsafe to dump a strategy that is proven to work well during normal times simply because the markets are in abnormal and very temporary crisis.

15

The points in the post are facts. Don’t put trading forex on a pedestal. Lewis Mocker has been a trader most his life so he would know.

If you genuinely disagree then refute each point…

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My original question asked for details about what businesses Lewis’s successful clients are actually running, assuming they are not forex trading. I’d still like to know.

17

Probably attracting the same audience as Tony Robbins/Gary Vaynerchuck/Dave Ramsey? :open_mouth:

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The “4PE” , as we call it, is a lean online business model made up of:

A free product (to provide value)
A core product (to convert & monetise)
A subscription product (to provide consistent cashflow)
A high ticket product (to generate serious income)

1. It must be a purely online product with digital delivery (so it generates mobile income)

2. It must be built on affordable platforms (so it requires minimal technical knowledge & maximum digital agility)

3. Profit margins must be greater than 75% (greater than 90% has been achieved many times)

4. Start up cost must be less than $1,000 (This is conservative. Most can launch for under $200)

5. Potential bottom line must exceed $100K p.a (My first lean green profit machine was making $80K a month in net profit after 1 year)

6. Build + launch time must be less than 90 days (Again, this is conservative. Our group record so far is 4 days)

You could even create multiple 4PE’s to scale and magnify your income!

One of our Masters, John, is already making over $100k per month:

997×1531

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@coughs, this is interesting. I’m wondering what level of information and support is provided?

Here are some questions that I have:

  1. There are many gurus who advocate building passive income via offering online digital products. What makes Lewis different?
  2. People who are not tech savvy have a difficult time creating an online business. Does Lewis provide a list of tech tools and training material or is this left to the individual to research and to learn on their own? How complex does this get?
  3. Same applies to online advertising. Facebook advertising is easy for some and very difficult for others. Google ads is even more difficult. What sort of help is provided for ads, copywriting, funnels, managing pixels, reporting, etc? Do they advocate the use of autoresponders and such? This can all get pretty expensive and complex in a hurry.
  4. In order to build an info product and to be able to offer a high ticket item for the same one needs to have significant expertise in something and be able to stand out above the competition. What if one doesn’t have such expertise in any single area? Will Lewis’ program still help?
  5. Does Lewis still trade? Is he a profitable trader? If he doesn’t trade anymore then why not? It seems like you’re getting this “do something else rather than trade” from Lewis?

Thanks for sharing.

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Can you teach me how to trade? I want to make this for some years but I don’t find someone to teach me. I have an online business that I started a year ago and now brings me a good income. The first months after starting was hard because I didn’t have clients and I wanted to give up. I began to promote my business with the last money and I found a Drip Digital ( digital marketing). A digital marketing campaign, on the other hand, is the actual actions and efforts placed within your strategy. With this help, I attract more potential customers who bought my products.