This is an interesting quote from @easymoney22 and, at first reading, a fine ambition. I guess every aspiring trader thinks about their aims and goals and, naturally, these are firmly attached to how much money they think they can earn from their trading. And in an industry where there is theoretically no ceiling to how much one can earn, these aims and goals so often seem to launch off into the millions, even billions.
But could ponder on the fact that, in isolation, the forex market is close to being a zero-sum game. I.e. every gain is someone else’s loss. So as one gets richer so others get poorer - is that not a little ironic if the aim is to ultimately relieve poverty in the world? Of course, the forex market is not entirely an isolated, closed entity. There are many transactions that relate to activities outside the forex market such as trade and business, even travel, and these do not enter the “zero sum” definition. But speculating is just what it says it is and every gain has an equal loss on the other side.
But maybe the real question that we should ask is what do we really seek in life. What kind of lifestyle will we really be comfortable in? What kind of income/capital do I really need to achieve my aims?
In theory, it is “easy” to make millions: surely all you need do is find a strategy that earns a consistent income and then just keep increasing position size and the profits just get bigger and bigger. But in reality, it doesn’t work like that. The practical and psychological factors change along the way and strategies have a habit of waxing and waning in their effectiveness over time. There are countless stories of people winning and losing big money.
But is big money really the only target here? If the world has to wait for individuals to become multi-billionaires before any help arrives then it is going to be a long wait. Which of these alternatives is better, quicker and more likely to succeed: - an individual saving a few millions and then giving some away - or a million people all giving a few dollars to an organisation that specialises in aid?
Helping others is a great principle and is what our civilization is built on. But helping others does not need millions, it starts with your family, your friends, your neighbours, your work colleagues, your internet acquaintances, and much of this help does not cost anything at all. Even a smile and a greeting to a lonely neighbour can makes someone’s day.
It is a good exercise to take time and think about: “What do I really and realistically want to be and achieve in my life”
Good works can start already today. which brings to mind another favourite quote:
" All it takes for evil to succeed is for good people to do nothing"
Things to think about…
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