I remember when I first started trading and most of my friends and family were so negative towards it... perhaps envy that I had a more proactive mindset than them.
One thing that they all shared with regards to my passion for trading financial markets is that they all saw it as gambling.
You're returns are not guaranteed.
I said, I know.
But these people make me laugh. I would say to them that if you think trading is gambling, then you must think that starting a business is gambling. You must think that buying a property, is gambling.
Funnily, they all disagreed.
How is a house a gamble?
You get a 95% mortgage; economy takes a turn for the worst; house prices plummet; your firm makes cut backs due to a decrease in revenues fast tracked by the under performing economy; you can't afford to pay your mortgage; you need to sell; but you are now in negative equity.
In laymen terms, you are f@~d.
After they have all seen me find my feet and returns on trading, now they all want a slice of my Michelin star rated pie.
This is trading. This is business. There is risk. But tell me one thing in life where there is no risk? Or no gamble?
A lot of people look at the financial markets and are overwhelmed by it.
Why?
Because there are people who make a substantial amount of money from it. We are brought up in a society whereby at school, your teachers would drum into you head that you need to be overly intelligent to be successful in something like finance, and so on and so forth.
We are led to believe that a £40,000 per annum salary is a comfortable living. When you do the math, take off your taxes, your mortgage etc, you are left with nothing.
The way I see it is like this.
There is a 10/10 beautiful lady in a bar. There is a line of ten guys. How many of those ten guys would approach her and derive something from her?
Maybe one, but even he'd be put off by the other 9.
But... she's there for the taking!?
Is it a risk going up to her and getting rejected? Or is it a gamble?
If you add in the information available with trading, the technical and historical analysis available, this makes it far from gambling but managing your risk exposure.
If you had the equivalent info about the gorgeous girl in the bar, your chances of success are dramatically increased right? And let's face it, if it didn't work, your ego wouldn't be beaten up so badly compared to if you didn't.
Those who trade on no information etc, are just greedy.
The seven deadly sins have never made so much sense until I started trading.
One thing that they all shared with regards to my passion for trading financial markets is that they all saw it as gambling.
You're returns are not guaranteed.
I said, I know.
But these people make me laugh. I would say to them that if you think trading is gambling, then you must think that starting a business is gambling. You must think that buying a property, is gambling.
Funnily, they all disagreed.
How is a house a gamble?
You get a 95% mortgage; economy takes a turn for the worst; house prices plummet; your firm makes cut backs due to a decrease in revenues fast tracked by the under performing economy; you can't afford to pay your mortgage; you need to sell; but you are now in negative equity.
In laymen terms, you are f@~d.
After they have all seen me find my feet and returns on trading, now they all want a slice of my Michelin star rated pie.
This is trading. This is business. There is risk. But tell me one thing in life where there is no risk? Or no gamble?
A lot of people look at the financial markets and are overwhelmed by it.
Why?
Because there are people who make a substantial amount of money from it. We are brought up in a society whereby at school, your teachers would drum into you head that you need to be overly intelligent to be successful in something like finance, and so on and so forth.
We are led to believe that a £40,000 per annum salary is a comfortable living. When you do the math, take off your taxes, your mortgage etc, you are left with nothing.
The way I see it is like this.
There is a 10/10 beautiful lady in a bar. There is a line of ten guys. How many of those ten guys would approach her and derive something from her?
Maybe one, but even he'd be put off by the other 9.
But... she's there for the taking!?
Is it a risk going up to her and getting rejected? Or is it a gamble?
If you add in the information available with trading, the technical and historical analysis available, this makes it far from gambling but managing your risk exposure.
If you had the equivalent info about the gorgeous girl in the bar, your chances of success are dramatically increased right? And let's face it, if it didn't work, your ego wouldn't be beaten up so badly compared to if you didn't.
Those who trade on no information etc, are just greedy.
The seven deadly sins have never made so much sense until I started trading.
