Trade Your Way to Financial Freedom (BUSINESS BOOKS)

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According to You Are a Badass at Making Money by Jen Sincero , people who don’t make a lot of money often feel shame when it comes to making money. And so the biggest obstacle that many people experience when it comes to making money is that they feel like having money is bad. Many feel guilty for having it and guiltier for wanting it. Sincero has said about money, “ We use it everyday to enhance our lives, yet we always seem to focus on the negative about it. ” Life is made up of moments. The best ones come from quality time spent with friends and family. While some products can help bring you closer to your family (like weekly family video game night) most of them don’t add much value. Alex taught me to plan and always look ahead, 5 to 10 years from now. He also provided us with all the tools and the material we need to be successful and to be a full-time traders like him. There are many psychological biases that prevent the majority of traders from trading successfully.

Trade Your Way to Financial Freedom (BUSINESS BOOKS)

there was not a single one commentary on the trading style of the author which leads me to believe that this is yet another case of an author of a trading book who is not a trader himself Financial freedom is about taking ownership of your finances. You have a dependable cashflow that allows you to live the life you want. You aren’t worrying about how you’ll pay your bills or sudden expenses. And you aren’t burdened with a pile of debt. The things I liked in this book were (1) the idea of looking at your trading strategy as a function of the risk and the opportunity to trade, and (2) the snow fight metaphor for easy understanding of the key concepts in trading, such as win rate, position sizing, etc.Money is simply a necessity like food or water. It helps you buy the things you need and live the life you want. The difference between the two super successful gentlemen? Buffet didn’t spend more than he needed to, and West spends money he doesn’t have. Turning traders' attention to a rather unpopular topic of position sizing and the fact that the entries are only about 10% of the actual trading system's success. Many Forex traders come to the market without a well-developed system. Usually, they try to create one in a very unstructured and unorganized manner without even knowing which parts make a real system out of a trading plan. Trade Your Way to Financial Freedom explains the process of system development from the basic idea to the final steps of choice of the position sizing model. It lays out the following theses: Van Tharp does a more than adequate job explaining expectancy and drawdowns in a way that makes you realize that bad things can happen to you if you ignore this facet of trading.

Trade Your Way To Financial Freedom PDF | PDF | Investing Trade Your Way To Financial Freedom PDF | PDF | Investing

The Holy Grail system is possible, but traders should seek the Holy Grail in themselves, as the good trading system should fit the personality of the trader. Keep these numbers in mind as we work through the next few financial freedom tips. 2. Look at Money PositivelyWhile paying someone else isn’t as glamorous as having money in the bank, it does bring you closer to financial freedom. After using Mint for one month, I managed to save some extra money towards my new wedding fund goal. Mint helped me stay focused on my goal and pushed me towards creating more passive income to hit my financial milestones. 5. Pay Yourself First each and every one of the concepts presented in the book were repeated at least 10 times (I don't need to hear 10 times about how important position sizing is, I'm sure that even a kid would have gotten it after the 3rd time) Compile a list of all your debts: mortgage, student loans, car loan, credit cards, and any other debt you may have accumulated. Don’t forget to include any money you may have borrowed from friends or family members over the years. You might not accomplish everything you want in a month. But a year is a long time to make progress on your goals. Make sure your goal is tied to a specific number that you want to hit. Believe it or not, you’ll start working towards those goals without even realizing it.