Hey. My name is Moscow. I’m from South Africa. Being born in to a hard life did not put me in that poverty mindset, I know I am rich in mind, the aim is to reach that phenom. Regardless of that my mother made a way, putting me through primary school. I had to make sure I had good marks in high school cause She lost here job when I was in 8th grade. I got a bursary that paid my fees and offered me a job. I chose to continue studying with my mother’s push obviously. But I have an acroprenuer mind. Since 2018 I have been reading up in forex. Since then i learned the basics opened a trading account got a mentor tried trading saw profits saw more losses. Continued to push and now I need advice. I have seen what the markets are about forex to indices and have grown a passion or some feeling to this. I have made a plan in my mind that i will achieve. I want to be influential like a market maker. I dont also just want to trade forex but other financials as well and then i want to teach my people and change the narrative where im from.
Interesting for a couple of reasons.
First, you say you have an entrepreuner mindset. Then I say be careful. Sure trading is a business, but a business like no other.
You cannot ‘make it happen’ as you can in other businesses.
Unlike a normal business you cannot go pushing for new customers, or set profit targets. In trading you take what the markets give you
A business minded person forces his will onto the world of business - try forcing your will on the market and you’ll get wiped out.
Many of the biggest trading flops are those who have been ‘movers and shakers’ in other domains of industry - in trading moving and shaking doesn’t work - patience is the key.
Secondly you talk about a rich vs poor mindset. I hope you know what that means.
It does not mean you think you are going to make money, it means you already have that wealth.
Big difference - many people who try to get rich actually have a poverty mindset - the idea there is never enough is a constant one in their lives
Now, I could go off the deep end on some biblical abundance thinking tip but I won’t.
What I will say is that in trading, if your belief system around money is there is never enough it will affect your trading.
You will do the opposite of what you should. You will cut winners short, and you will let losers run.
All from your belief there is never enough money.
So yes, go for it - achieve what you can, just a couple of points to be wary of as a beginner.
@Johnscott31 Thanks John I hear you. Like I said I have been reading up for a while, taken initiative to find a mentor who taught me trading fundamentals and their own strategy etc… But I want to understand all the spheres of the market. Market analsyis, technical, psychological and develop my own plans strategies. I want to be able to teach a kid coming out of high school, like I would have wished someone taught me off the bat. So I do understand financial markets to a certain extent and I am still trading and recording the data. Also I said acroprenuer- Spend money with the expectation of achieving a profit or material result by putting it into financial markets i.e. shares, or property etc. By that I mean planning, organisation you know. Like daily pip targets, weekly, monthly, with a specific annual turnover. I’m not into it for the flashy side of Forex, I don’t care about that my guy. The point is financial freedom, however much that is to me my brother. RICH to me is when I can help in my community, teach people who have no other option. Im talking Thomas J Frank Rich v Poor mindset, Napolean Hill. I believe its not about the money its about the mindset. Rich mindset starts with me not money. So thanks I will definitely continue to push.
I apologise for misreading your words. You certainly talk a good talk - hopefully you can walk it too.
If you are reading Napolean Hill you know what I’m talking about - however the psychological aspect of trading is huge - just because you have read a few LoA books will not give you a free pass.
But I’m sure you know that already
Did you say you are NOT into the flashy side of trading - a man after my own heart and very rare indeed on this forum!!!
Best of luck
@Johnscott31 No worries on the misreading, I also just tried to summarize my story for those on here. Hope I clarified. Yeah I keep hearing/reading from how important the psychological aspect is. Its evident also in successful traders their trading is not based on emotion.
I have much to learn. Ya its one thing to be flashy but then again it boils down to you. Imagine being a trader that’s flashy through impacting people’s live. obvious if I’m successful I will have my material things but I would like to have helped more people learn.
Like people you’ve taught will go on to sing your praise’s simply for giving them the knowledge that’s been here for years to gain financial freedom. That for me would be jas.
Thank you sir
Trading can not always work like other businesses. It can go up or down anytime. Be careful and follow a strong strategy to make money in trading.
Kudos to your thoughts. I definitely like the way you are thinking, but I would just advice you to tread with caution. It’s easy to be overcome with emotions in trading, and that ain’t ever good. Stay objective, and continue learning from your mentor.