Nobody wants to remain in the same financial situation. Not even the rich. The rich continue to look for opportunities to learn, grow, invest and more. They continue to network and explore ideas.
We believe that you are trading or considering to trade to make more money and lead a better life. However, if you trade just for money, you will be missing out on a lot more. Think BIG. Think BIGGER. When you become a successful trader, what would you like to do with your new found wealth? Money is a tool. It is an enabler. How are you going to make a difference in this world?
Granted – some of us are struggling with our daily living. This shouldn’t stop us from thinking bigger.
When you realize that you can contribute to society with your money (and time if you have the freedom and flexibility of time), you will be motivated to learn and improve on your trading. You will look forward to trading.
What are these large goals? It could be starting a business or becoming a partner of one which has a positive impact on society. It could be charitable in nature such as aiding in the construction or renovation of a hospital. It could even be freeing yourself from the rat race to teach the less privileged for free!
Whatever your big goals are, they will have a positive impact on your trading.
As you trade, you will be more careful and focused. You will look at stocks from a different starting point – searching for reasons not to buy it. You will be assessing the risks before the potential reward.
Sticking to your trading plan will be much easier too.
#2 Opportunity Cost
You will start thinking of opportunity cost. What other stock could you have bought had you not bought this particular stock?
Eg. You are analyzing the chart of Amazon. Each share costs $2000. What else could you have bought or invested? You may even choose to stay out of the stock market if it is more volatile than you are comfortable with.
As you think deeper, you will think of ways to lower your transaction costs so that your capital can go way further. You can do so by choosing the right broker which suits you.
Logical thinking will be at the forefront of making decisions, especially so in times of hype and hysteria. Remember the sudden rise of Bitcoin? Bitcoin was all over the news in late 2017 when it was exploding exponentially in price towards $20,000. Bitcoin remained in the news in early 2018 as its price collapsed. Above: Chart of Bitcoin (BTCUSD).
Does the chart of Tesla (below) look familiar? Is the media talking about Tesla? Do you want to be vested in this parabolic move? Above: Chart of Tesla (TSLA).
Having a goal that’s bigger than yourself benefits everyone. You will be kept sharp while you trade, be relentless on improving yourself, be more careful in assessing stocks and benefit the world with your time and treasures. Speak to me and let’s work on achieving this huge goal of yours faster!
Here’s What You Can Do To Improve Your Trading Right Now:
#1 Register for our market outlook webinars by clicking here
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#4 Grab a front row seat and discover how you can expand your trading arsenal in our FREE courses (for a limited time only) by clicking here