4 Choices As A Trader
There are many choices you have to make as you navigate through life.
And each choice you make, will help define your path.
When it comes to your finances, there are four choices that you have to make to ensure that you achieve your goals.
I know there are many more choices, as everything we do is a choice.
Where you say YES to one thing you automatically say NO to something else.
It’s all an opportunity cost.
But you need to dig deep to see what you need to do to achieve what you wish to succeed in.
So let’s get to them…
Choice #1: Pursue Your Passion and Goals
The first choice that you have to make is to identify your passion and set your financial goals accordingly.
Your passion should drive your financial decisions, and your goals should align with it.
For instance, if you’re passionate about traveling, you should set a financial goal that will enable you to travel the world.
With trading, this means you need a good laptop, places with strong internet and a calm place without distractions.
If you have a goal to make 36% per year, you need to find the strategy that best fits your trading personality and risk profile. You need to make sure it’s backtested and forward tested with an accurate win rate and statistics.
But it’s your CHOICE to choose the strategy.
It’s your CHOICE to choose the markets.
It’s your CHOICE to choose your time frames.
It’s your CHOICE to choose your times.
Choice #2: Take Financial Responsibilities
The second choice you have to make is to take full responsibility for your finances.
This means that you have to create and stick to a budget, save and invest wisely, and avoid debt.
Taking financial responsibility may not be easy, but it’s necessary for achieving your financial goals.
Also every time you press that buy and sell button, it’s your CHOICE to make.
The volume you trade and the time you decide to trade.
Whether you’re following your own strategy, someone else’s or you have an AI robot taking your trades – the onus is on you.
The choices you make are your financial decisions.
Choice #3: Learn and Grow
The third choice you have to make is to continue learning and growing.
When you’re a kid, education is really not up to you.
Your parents take you to school, probably pay for your tertiary education.
But education as an adult, is all up to you.
Financial markets are constantly changing, and it’s important to stay up to date with the latest trends, markets and strategies.
You can achieve this by reading financial news, attending seminars, or even hiring a financial advisor.
Continuously learning and growing will help you make informed financial decisions.
Choice #4: Be Persistent and Resilient
The fourth choice you have to make is to be persistent and resilient.
The road to financial success is not always smooth, and you will face challenges along the way.
However, it’s important to stay focused on your goals and not give up.
Be persistent in your efforts and be resilient in the face of obstacles.
Persistence is what drove Ray Kroc to achieve the unthinkable with Mc Donald’s. Persistence is what drove Colonel Sanders to launch his Southern Chicken at 65.
You have the time, now you need to choose to be persistent to preserver with your trading.
It’s your choice…
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Enjoy and remember…
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