Most people find themselves having no investments at all in their whole life and end up wishing on their death bed “ooh I wish I could have done so and so” or “I wish I would have invested in real estate and my family would live a peaceful life without worrying about finances.” But to most people, it’s different because they spend all their earnings and forget about investments. This applies in all fields of life whether you are 9 to 5 or a businessman or a Forex Trader.
As a Forex trader there comes a point you make a lot of money and if you’re not careful, you can easily forget yourself and by the time you come to realize you’re wrong, then all of your money is gone and you are broke. Frustrations start to build up and eventually you lose track and that’s the beginning of your downfall. Most people never recover because hitting rock bottom is the ugliest situation a man can be, especially if you are used to the high life, It takes years to recover. In today’s lesson, I am going to teach you how to invest wisely your forex profits and avoid to hit rock bottom.
Now if you haven’t made any money as a trader don’t worry keep learning and trusting the process your time is around the corner. Quitting is the last thing you can ever do in this career. The good life, mansions and cars are never obtained overnight rather a process of years. A man must fall to stand up, never fall and remain down as you will have proven weakness and success needs strong people. The losses you are going through are part and parcel of a trading career I too loosed thousands of dollars trying to figure out in trading and back then seemed to be millions.
WHAT TO DO WITH YOUR FIRST PROFITS
Now here comes the tricky part. Most traders I know tend to reinvest their first profits back in the market but in my view, I d do completely different. You see, Trading is an investment and you profit from the interest there comes a time when your trading investment will not go well, that I assure you it will happen. This means you will lose cash flow and what happens when you lose cash flow? You start deducting from the principle which is insanely crazy. If you don’t have any other business or investment idea then I suggest you deposit the profits in a bank account (Not trading account) and leave it there and your job is to create the second Business that will generate cash flow for you. Now you have two Businesses that generate consistent cash flow and when the other shakes, one still remains intact till the other one gets back on track.
When the trading business keeps booming never forget to withdraw the profits. Never focus on growing an account as it never happens as many people think, that is why very few traders are successful and the rest are struggling because they lack information which vital to financial freedom. Profits from the market can vanish just like that, some brokers may even refuse to pay you. What do you think will happen? YOU HIT ROCK BOTTOM. I am trying to be honest with you. My buddy Moki. Jr’s account got deleted from the broker’s system after making 43k in one trade. If he couldn’t have any other investments he’d be broke by now. So these things happen and you must make regular withdrawals from time to time to avoid problems. Most brokers are overseas and the cost of filing a case is insanely high. Preventing yourself from this catastrophes is much better.
INVEST IN REAL ESTATE
Now real estate can be challenging especially if you don’t have cashflow. You need equity and you have to build up your credit score with the banks. Now for professional profitable traders, cash flow is not a problem but purchasing those large pieces of property requires credit and the down payment is affordable. The banks can finance you but to gain ultimate trust you must pay your mortgage in the specified time thus when you unlock your full potential.
Here are a few ways to invest in real estate business.
A lot of REAL ESTATE educational content will be available as soon as we launch the Real Estate Category.
Watch this video to get started and more will come. Thank you for passing through and see you next Time
Raymond is a professional currency trader with experience of 4 years trading the financial markets. Certified Risk Manager and Contributor at profxtigers.com
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