Last Friday, I vented my frustration with the current state of politics in Washington D.C. The fat cats (most all are multimillionaires) who shape our nation’s economic direction brought their ideological catfight to my life, to my financial future, once again, and it makes me angry, as it should you.
Well, we dodged a bullet on Friday, but the chamber is hardly empty, and, unfortunately, those careless (in the literal sense of the word) legislators still have their finger on the trigger. What scares me (and it should you) is that they seem not to understand what pulling the trigger means. They seem not to understand that as the U.S. goes, so goes the market. I weigh in on this again because my job is to educate about the market, and if you find any value in my opinions, pay attention to this – the next round of hissing, spitting, clawing, and growling in our nation’s capital could send the market on a long trip south. I urge you all to watch carefully for any early sign that the gun is about to fire again …
Once again, a reader has written something that suggests trading (or investing) is an easy path to making money.
Some of my friends have started trading forex and they said they improved their financial status even with small investment!!! How true is their statement? Who can guide me if I would like to try my luck?
Yes, one can make money trading forex, even with a small investment, but that is not the salient point in his questions to me. No, the more relevant point is contained in his last question, specifically, in his words, “try my luck.”
It is good he understands that he needs someone to “guide” him, but, once again, his words, and the sentiment in his overall writing indicate he sees trading as a path to easy money. To emphasize how unrealistic this is, I give you words from Jim Wyckoff, a contributor to the Synergistic Trading e-newsletter from TraderPlanet …
You don’t become a successful doctor or lawyer or business owner in the first couple years of the practice. It takes hard work and perseverance to achieve success in any field of endeavor – and trading futures is no different. Futures trading is not the easy, “get-rich-quick” scheme that a few unsavory characters make it out to be.
Wyckoff’s focus is futures trading, but all trading is the same – to be successful, one has to put in the time. One has to spend time to gain experience, to develop wisdom, and, finally, to arrive at a place of confidence in a world that can eat you up before you come to understand that if you are not the predator, you are the prey.
Trade in the day – Invest in your life …
