Friday, September 6, 2019

To Be Patient OR Not To Be Patient? That is the Question of the Day.

Truth is, I have never been a very patient person.  I tend to want things now. In fact, I can relate to the Millennials and Gen Z folks on this one particular personality trait.  My mentor makes me laugh when he says; "It's my money, and I want it now!" because he does not know how true that is for me.

So how did I go from wanting everything instantly to having the patience needed to grow this account?  Truth be told I haven't. People tend to think once you have children, you will automatically pick up being a patient person.  NOT TRUE.  What I have learned is how to practice something that I am not naturally inclined too.  INSTEAD of Patience, I developed DISCIPLINE.   Discipline helps me exhibit patience even when I don't particularly feel that way.

Both are needed in the world of Compound Interest.  Why is compounding interest a more exceptional teacher of patience? Well, for one, you don’t see results overnight. In fact, compounding interest is actually pretty slow, it can be like watching paint dry.  Secondly, none of my creditors are in a rush for me to pay my debts off.  As a matter of fact; it is their preference that it takes me as long as possible to do so.  No great secret there!  The longer it takes--, the more money I owe them--, the more profit they make.  Now there is an idea... that actually works!  Slow and steady profit.

But one thing that makes it easier is as slow as it may seem; it is still growing faster than all our other investments.  In-fact this little account is up a total of 39.3% in just 3 weeks!  Now that is not slow by any means of measurement.

This week, I had surpassed the weekly goal, and then the Holy Grail appeared.  I know you are laughing.  It is okay, go ahead and laugh.  I believe in truth in trading.   If you trade forex, you know precisely what I am talking about.  That trade is going to be so sweet and quick.  It will be #InstaProfit.  My favorite kind.  Well, when you enter the market even for the HOLY GRAIL, you increase your risk.  I suffered a small setback.  Not enough to keep me from staying in tune with my Goal.  But enough to remind me why we don't recommend overtrading for any reason.  I will be keeping my goal in this small account clear.  

You can apply for free mentor-ship here: Mentor-Ship Application
*Risk Disclaimer for Forex Trading.   The information here is for educational purposes only. Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors.  Past performance is not indicative of future results.  The high degree of leverage can work against you as well as for you.  Before deciding to invest in foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite.  The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money you can not afford to lose.  You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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