9/26/2023 0 Comments Last day on earth survival traderThere’s no boss to answer to, no politics, and no restrictions.Īll of it sounds good till you find out what it takes to trade for a living. You honestly hate your job and you want to find a way out of it. It may be a slow process, but at least you’re climbing out of the hole. Instead, get a job (pizza delivery or something) and pay off your debts. ![]() So, never trade to repay your debt because you are only digging a bigger hole. You have such immense pressure on yourself and things eventually spiral out of control.Įventually, you blew up your trading account and you’re still in debt. You’re unwilling to cut your losses because you don’t want to lose. Well, you start taking a larger risk because you want to make money fast. But when you’re in debt, whatever control you have is clearly out of the window.īecause you only have one thought in mind… which is to quickly make back the money you owe. The answer is NO and it’s not even for experienced traders. If you’re in debt and looking for a quick fix, maybe trading is a solution? If you really want something passive, you’re much better off investing in an index fund. Year 6 onwards – after being through the ups and downs, highs and lows, you come to the realization that the only thing passive is paying your brokerage fee on every trade. Year 5 – you see some consistency in your trading. Year 4 – you have a concrete plan on what it takes to succeed in this business. Year 3 – you throw out 90% of what you’ve learned and focus on the stuff that really matters. Year 2 – you learn everything you can get your hands on Year 1 – you’d probably blow up multiple trading accounts as you’ve no idea what the heck you’re doing. So, is trading good to be a passive source of income? ![]() In reality, you either require a large capital upfront, or you work your butt off in the early stages and reap the benefits later. Passive income means receiving an income without doing “anything”. You may be surprised at what I’m about to share with you. Then you’ll want to read every single word in this post because you’ll discover the myths, the possibilities, and most importantly… the truth about trading. “Is it possible to achieve all these from trading?”
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