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Sunday, January 16, 2011

Getting Serious About Trading

Today’s post is a reminder/wake-up-call/inspiration for all of us to get more serious about forex trading – so we actually create the freedom we desire.
A month ago, I wrote a post called “Your Golden Goose for Forex Trading,” which was further explained in the next post about compounding your income through forex trading.

Have You Been Doing It?

The reason I ask this is that I actually have been setting aside 10% of my income to fatten my Golden Goose! I wasn’t always able to do this, but the personal money management plan that I shared with you has allowed me to now do this…
I’m now kicking it into a higher gear… I’m now taking 30% of all my income and putting it into my forex trading account, never to touch it again – but to live off the golden eggs forever! I’m planning to increase this to 50% of my income over the next 2-3 months…

When Can You Achieve Financial Freedom with Forex Trading?

I don’t have an exact answer for you. It’ll be different for every person… But I can give you a sensible timeframe when you can reach financial freedom if you follow the plan…
I’m going to make some assumptions here. These aren’t guarantees, because nothing is guaranteed. Anyone who tells you they can guarantee any type of forex trading success for you is LYING!
But what’s really possible?
Is 10% monthly possible? Is 30% per month possible? Is 100% a month possible???
While these are all possible, I’m going to focus on 10% to 30% a month as being reasonably possible. Throughout July, I’m going to show you what I’m actually generating in a forex trading account as part of the 90 day forex trading bootcamp. You’ll see if these numbers are possible for me by following the bootcamp.
Ok, so I’m assuming that 10% to 30% a month is possible. Not guaranteed, just possible…

How does that translate into financial freedom?

If you were somehow able to make 10% to 30% per month trading forex, you would need 3-10 times your monthly salary as your forex golden goose to lay a golden egg big enough for you to live off off & continue to grow…
If you follow the personal money management system that I’ve shared with you (investing 10% of your income minimum), you’ll automatically reach this level in 30 to 100 months, or 5 to 8 years.
But that’s simply to save enough money from your income to get a fat enough Golden Goose to live off, it’ll happen much faster because you’ll be compounding the interest on the 10% of your income that you put in your forex trading account each month. In fact, I’ve already shown you how this can happen in 10-26 months in the “compounding income to forex freedom” post.

I’m Doing It, Are You?

The mission of this blog is to share my journey as a professional forex trader with you. I’ve recently enjoyed a slower pace of life here on Maui, so I’ve been really relaxed about my trading over the past month…
BUT I’M GETTING MORE SERIOUS NOW!!!
There’s a time to chill & a time to go for it. I take periodic rest periods throughout the year. That’s why I’m a forex trader, so I can relax when I want to!
I’m going to continue to open up further and allow you to take a look inside my world as a trader so you can create the lifestyle you dream of as well.

Awesome Opportunities Are Out There

It’s a great time to be trading forex. For reasons that I’ll explain in a future post, I think we’re entering a golden age of forex trading…
I’m going to be sharing a lot of trades over the remainder of the 90 day forex trading bootcamp. There’s still 68 days left, and we’ve just barely started. If you want to get into the bootcamp, it’ll be easy to get onboard. I will be closing live bootcamp registration soon, so if you still want to join the live 90 day forex trading bootcamp – click here to register.
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