Become a millionaire
The hardest step is always the first one. We want the results, but not the work. We want success but not having to go trough the hard process of it. What is success? Success is failing, falling, losing and learning from all of it and improving and keep pushing forward.
Do not expect to learn any skill without this process of success. When you where a child how many times did you fall before getting able to walk. I am sure your parents did tell you many times do not run on corners. Did you listen to them? No! but after you fell and hurt yourself you learned the lessons the hard way. Telling to all new Forex enthusiasts all the rules required to be successful will not get them near success. Most of them are still dreaming with the big million and haven't even started doing anything to get any closer. Only after failing and falling they will learn.
To run a marathon you need at least to buy a good pair of sneakers.
Making 100$ every month in Forex with a 100$ account is a big dream for many people. However every successful trader I met and have spoken with had many losses, nervous break down or some kind of depression at least once. It can be very hard and lonely. After letting go of the wrong mindset and believes and all those monetary and emotional losses, you start building a stronger mindset, having successful traders around you, positive people. Those of you who reach this mindset and are still in the business do not seek to turn 100$ into 100$ every month anymore. That was a dream when you did not yet take your first step. Now, most of them seek scalability! Making 100$ the first month, but then growing it, compounding it into financial freedom, making more and more every month.
Unfortunately many will also learn the hard way that compound growth works under the rules of liquidity. You can compound 100$ into 10.000$ in a few months or years, but if you want to preserve your capital when it grows you need to lower the risk, or will only end adding more money and then losing even bigger at a later stage, and it will be even harder to recover from such losses emotionally.
It is a hard and difficult road. Listen to the experienced traders, they can be annoying as your parents once where, but you know today they where right. Don’t take any shortcuts if you cant handle the consequences. If you can gamble away 150k and recover from it, be my guest. But to all the others I wish you all the best of luck and take action, learn, improve yourself, go after your dreams!
For all the others that rather seek passive investment, 12% per year is a return that is scalable with capital preservation and it is the target chosen for my Financial Freedom Account. All profits above 12% is a bonus but my main focus on this account is capital preservation and I rather fail my target and keep the risk low. I can add more investment and grow this account the next years to reach my million on retirement.
Here is a great video about how much you need to save to achieve your million considering this yearly return.
This month I will be a bit more busy then usual and might not write as much, but any on topic questions you have I will answer them.
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Have a great week.