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Trading For A Living – Expectations Vs Reality

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Trading For A Living – Expectations Vs Reality

hey hey what’s up my friend so in today’s episode right I want to share with you trading for a living right the expectations vs. reality and I know many of you write you want to trade for a living and the thing is you don’t know what’s real and what’s not real right because on the internet people like to blow things up out of proportion and it’s hard right to tell whether something is realistic or not so in today’s episode I want to share with you some of the expectations vs.

reality number one you have unlimited earnings potential right if you trade for a living and the answer to that is yes it’s true but but right there are a few things that you need right so let me share with you a story so back then in my university days I had the ambition right to trade for a living right I wanted to be my own boss have no one to answer to and you know stuff like that so I had about five thousand dollars in capital and I borrowed another five thousand dollars from my parents right so that I could trade for a living that was my plane and so I’d about ten thousand dollars of trading capital and my top process at a point of time is dead if I were to make 20 percent each month right that’s about two thousand dollars and I believe I can you know survive with that amount of money right so that’s what I did and guess what the problem is there are two things number one I didn’t have this skill or right to consistently make twenty percent every single month I realized that that wasn’t realistic right nobody makes twenty percent of mine consistently because if you can do that right it’s only a matter of time before all the entire world’s money is in your pocket so that’s that’s not realistic number two is that since I know 20% of money is not realistic right I think something more realistic right is you know on a permanent basis right anywhere between one to five percent right depending on how much you risk per trade that is something that is much more closer right to reality and the problem with that is even if I were to make let’s say two or three percent each month the amount of money that I make is not enough to sustain my living because this brings me to point number two right the money that I had right at ten thousand dollars enough the ten thousand dollars at a point in time in my trading account isn’t enough to treat for a living okay so that was the aha moment for me right that is something that I realized right and I hope this is something that you can take away as well right yes you have a limited earnings potential but bear in mind you must have the skill set to make a profit from the markets and you also need money to make money in this business number two your freedom right as a trader is the freedom to do anything you want right you the freedom to travel if the freedom to pretty much you know call the shots but here’s the thing right in training right there is a learning process involved there is a learning curve just like you know you wanting to be lets say a neurosurgeon right you have to spend six years right as an undergraduate studying medicine maybe another you know five years at medical school and after medical school you’ve to you know be and residency for another seven years and maybe after then right after seven plus six plus five years like eighteen years after about 18 years right you can call yourself a full-fledged neurosurgeon and at this point right it doesn’t mean that you’ve made it now at this point right your your yearly earnings right might be a pretty decent six figures here but you’ll still need three four five more years right to use your savings right and grow it into a comfortable nest egg so you see let’s say you take another I don’t know one out of five years right to grow the nest egg for retirement that’s in total right 23 years 23 years right in so-called medicine and neuro surgery before you find your freedom now what about treating well most traders think they can take a weekend cause– right and find your freedom after their course after a seminar does it make sense right if that’s the case right there won’t be any doctors there won’t be any lawyers there won’t be any engineers around all of us all right we want to be a traitor just take a weekend constant you find your freedom okay so yes trading could lead to financial freedom right but it’s not a clear path right there numerous you know obstacles in your way right a learning curve the amount of capital that you have access to right a discipline to be consistent right you need to give yourself time right this is not a get-rich-quick scheme right neurosurgeon take anyway about 20 to 25 years before they can find their freedom right so thinking about that number three right as a trader I feel great for a living right you can you know set your own working hours right man I can wake up when I want to I don’t need any alarm blah blah blah well that kind of depends right if you’re a short-term trader if you’re a day trader then that really isn’t the case because let’s say you trade the US markets and you happen to be based in Singapore like me guess what your day trading I was in the US markets would be something like you know 9:10 p.

m. right to the next day 4:00 5:00 a.m. right I don’t think you can actually set your working hours because you have to follow the markets if you trade the US markets or maybe if you trade the forex markets right forex markets in Singapore right the most volatile hours is during the London session that’s about 3 p.

m. to 12 midnight those will be your day trading hours if you are a short term forex trader so you can see that you don’t necessarily you’re not necessarily able to set your own working hours you’ve got to be following where the money is where the market is okay so don’t forget that and finally right finally this one over here right trading right the markets right it’s nothing to do with earning a passive income trading does not offer you a passive income let me let me explain to you what passive income is all right passive income is if you do nothing at all and you still get paid for it you get money for example this youtube channel of mine right I have published like for applause videos today and if today right now I decided to stop publishing videos for a lesson and it’s one or two years I will still get an income from YouTube each month for the advertising that’s on my channel right I have no idea how much money right I will get for the next one year it’s likely to note window down lower lower right but I am pretty certain I will still get money from my existing videos that is passive income right I don’t do anything I get an income now let me ask you if you were to be trading and if you will not you are not able to play straits for the next 30 days and x1 year will you get profits really get money from the markets no right of course not right because if you don’t drink there’s no money well and same time there’s no loss as well but in terms of passive income perspective right trading has nothing to do with passive income trading is an active thing that you’re doing right so don’t get the wrong idea that trading is passive income okay so with that said right I have come to us the end of today’s video I hope you got some inside out of it on expectations versus reality what trading really entails all right so with that’s it I wish you good luck and good trading I will talk to you soon you

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