7 Ways to Bury Your Dreams

Forex can make several of your dreams come true, providing you with independence, a changed lifestyle, and the opportunity to live the life you want.

But there always seems to be one reason or another we can’t turn our plans into action. The more important the dream is to us, the more fear it generates – says Barbara Sher in her “Survival Guide for Dreamers”. Here we gathered 7 ways to bury your dream before you even get started – know your enemy by sight, and get around the pitfalls you made for yourself!

I don’t have a degree

In the 21st century, education is important, but in the case of Forex, lack of education is not a stumbling block. Most successful professional traders don't have a financial education. Some of them get a degree after they’ve succeeded in Forex.

Jesse Livermore, the trader who inspired the “Trader’s Bible,” never got a degree in finance. In fact, When Jesse turned 14, his father pulled him out of school to make money farming, so every penny of his fortune was earned thanks to self-education.

It’s too late to change anything

No matter how old you are, in 10 years you’ll regret you didn’t start today. Forex is not ballet or baseball, where age is really a significant factor in your success.

Ingeborga Mootz, the “million-dollar granny,” started trading after she turned 75! During her first 8 years of trading, she earned 500 000 EUR. The beauty of Forex is that you simply need to find your suitable trading style – like Frau Mootz did: she doesn’t use the internet or gadgets, but she’s a wiz with paper. So next time you think it’s too late to join the market, think again!

I need to attain perfection first

This is the most common trap of procrastinators. Most people who think this way never even start. Perfection is unattainable – you can always do better, but you can never be perfect... Moreover, you can’t get better without practice, and practice is impossible without imperfections.

There’s no need for an example: if you open the biography of any famous trader, you’ll see that among their great wins there are no fewer great falls. Icons of trading also went through ups and downs, and no one would say the road wasn’t rough. All you can do is take every stumbling block along your path as a lesson, not as a reason to quit.

I’m not sure it’s what I want

Well, you'll never know until you try. The mental experiments won't help you determine your wishes. You can study Forex from A to Z and never even open a single trade – but it won’t make you a trader, and moreover it won’t help you decide whether you could be and would be a trader or not.

Let’s face it: only a few people know exactly what they want to do. Richard Dennis, the Prince of the Pit, was studying philosophy and was quite successful in it. But trading became his true passion: he started as a trading floor runner, and this first interaction with the market left a significant groove in him. Never be afraid to try!

It’s too hard

Even if good old Forex looks way too complicated to you, treat your dream with interest and respect. It may seem impossible to you in your environment, but no one really knows what is possible and what is not. And trust us – Forex is definitely not that hard to conquer.

As a kid, Herbie Wertheim wasn’t the smartest one in the room: he had dyslexia, skipped classes, and after all ended up in the Navy. But it never stopped him. From a zero-expectations kid he turned into a billionaire, owner of Brain Power Inc, and an extraordinary investor. Read more about his story.

It’s irrational

The common misbelief about Forex is that it’s like gambling, and gambling is irrational – well, good thing Forex has nothing to do with casinos. Only logic, numbers and ability to read the market’s signals play any role in Forex trading.

Black swans of the market seem to be one of the most irrational things ever: people outside the market see them as some kind of practical joke. The most unexpected thing to happen happens? No way! But little do people know, that actually the creator of the Black Swan theory, Nassim Taleb, based his theory on statistics, mathematics and risk analysis. Sounds pretty rational, right? So does your dream: you just need to find the right approach and skip the part where people judge you for it.

I don’t have time

No time for your dream? Is it even a dream then? Forex might be time-consuming at first, but once you create a plan for yourself, you’ll see how easy it is to manage time for self-education, studying the market, and actual trading. Plus, once you master the market, you’ll get much more free time on your hands.

Most traders move to full time trading sooner or later. Some of them choose investing as a passive income resource. It’s all about time management and priorities – and traders know that.