This isn't a sales pitch. It's a problem we all have. It's there, and it needs a solution regardless of who you are.
I was able to solve it first through my investing in real estate, and now in currency trading. Here's the problem: If you're not happy with your job, or the amount of money you make or have, how do you change that?
If you're 50 plus years old and realize the horrible situation that you just don't have enough savings or the time left to accumulate them to be able to retire, how do you change that?
If you're 30 years old and realize the horrible situation that most of the 50 plus year olds you see who just don't have enough savings or the time left to accumulate them to be able to retire, and that if you don't start doing something right now to accumulate wealth or you won't be able to retire either, how do you change that?
The answer is that you need to have your money make money, rather than you working to make money.
And if you think that you'll accumulate enough money by working 40 years at your job, then why is it that the average American between the ages of 55 and 64 has only accrued about $104,000 in retirement savings? Though that may sound like a lot, it really isn't when you realize that would only provide less than $300 a month, at a safe withdraw rate of 3%.
Not to be grim about things, but the average Social Security payment is only around $1,300 per month. With retirment savings, that's $1,600 a month.
You see, one of the main problems with all asset classes is that they rely on time to compound in value. But I was at a period in my life that I no longer had that time. However, with FOREX, time disappears! The problems of compounding go away!
Why is this? Well, I'd love to tell you all about it and how I use just a small amount of money to generate a nice yearly income from my trading.
If you're chomping at the bit to get into trading, or if you're already trading and not having the success that you feel you should, then you need a mentor. It's as simple as that. You're just not going to learn this stuff from a book, watching YouTube videos, or taking online courses. Sorry, but that's just not going to happen....
Look, there are a lot of really competent folks out there to choose from that teach trading. I'm just one. Just like not everyone you come into contact with will be someone you'd invite over to your house for dinner, not every instructor out there will fit your specific personality or needs. Look at how many steak house restaurants there are, for example. I mean, really, how much different can you fix a steak? How do they all survive then?
Well, it's because each of those restaurants, even though they basically serve the same thing, have their own unique style and atmosphere. The atmosphere provided at one restaurant just may not be attractive to you, whereas the atmosphere at another causes you to feel really good about the whole experience. Look, you can fix the steak at home on the grill for 5 times less money. But you go out to that restaurant for the experience....
Finding a mentor is basically the same thing. You need to find someone you feel comfortable with, someone who can express themselves in a manner that you can directly relate to and who will enable you to become a better trader.
A mentor is a coach, who, though competent in what they do, has that unique ability to help someone else become even better than they are. I've been involved in the martial arts since 1968 and am at the Grandmaster level, so I know a few things about learning, developing skills, and the difference between just teaching and being a mentor — I have martial arts students who have been with me for 30+ years. I get it.
Do you think the great Tiger Woods listens to his caddy or coaches because they are all better than he is? No. He listens to them because they can take an objective view of what he is doing and express it in a manner that enables him to get better.
But, of course, that doesn't mean just anybody out there with a little training is going to be qualified to mentor you. They have to be good, really good for that, right? Sure they do. No doubt about it. But, even if the person who is offering to teach you has made 30 million dollars, that's not enough to determine if they can teach you how to be successful.
A good trading coach or mentor will teach you the same 'stuff', just like a good steak house will serve you the same good steak. Your goal is to find the best environment for you to enjoy that steak. And so too, you need to investigate a lot of trading coaches in order to find the one that you're going to be the most comfortable with, the one that you'll flourish with as your mentor.
There are, unfortunately, not only a lot of bad steak houses, but there are a lot of bad trading coaches. There are a lot of folks out there teaching stuff that they don't use themselves. There are even a lot of trading coaches who don't trade! I love to watch the videos from some of these folks, though, as they are inspiring of 'the story'. But don't be fooled by all of that.
And, please don't fall for the guy that says he has 90% winning trades, or that with their system you only need to have 40% winning trades. Those are all just useless metrics to base your judgment on. And just run from anyone who's 'proof' of how great a trader they are is based on them flagging their 'certified' trading and bank account statements at you. Remember Bernie Madoff? Please....
You should choose your trading mentor the same way that you would select an attorney: you interview them and determine for yourself if you feel comfortable with that person based on your conversation vs a sales pitch, Yellow Page advertisement, or parchment paper certificates hanging on the wall.
Sure, that's a long process, and it takes work. It's an unfortunate fact that most folks who go into trading will spend more time picking out a pair of shoes than they will selecting a mentor. If you don't do your homework, or you pick the cheapest alternative, then you get what you pay for. Sorry, but that's just the way it is.
I've been in the martial arts since 1968 and hold a Grandmaster ranking. I didn't achieve that by myself. I was persistent and I had mentors to point the way for me. Of course, I had to do the work. But a huge part of what I was taught was that once I had mastered that art and myself, my responsibility was to share that knowledge with others. And so, since I have benefited from my experiences in trading, I feel I have a responsibility to work with others. And that's why I teach trading. Simple as that.
Look, I'm not pushing training programs as my business. I'm a trader, and I'm in this business to make money and to enjoy life. However, I feel I have a responsibility to help folks who seek my counsel. But, before considering Longwood Currency Trading as your mentor, please consider the following quote by Jessie Livermore because it embodies the essence of our thought process:
"The only way you get a real education in the market is to invest cash, track your trade, and study your mistakes."
The objective of taking a class and practicing is to learn how to win substantially more when you win than you lose when you lose so that over the long run you come out ahead.
It was only after years and years
of losing real money and way too much from simulated trading accounts that I finally did figure it out.
Part of the solution was by simply applying the same principles I used to become a millionaire in real estate. I stumbled at first with it because of the time differential in these two investment vehicles.
Once I saw how to alter the process, though, everything fell right into place. But that was just a small piece of the puzzle.
What I discovered was really remarkable.
Remarkable because it brought my trading to a hugely successful level in literally just a few months.
Trading isn't hard nor is it complex. You don't need a physics degree to trade. In fact, that was one of my problems: I thought it would take some complex algorithms to trade successfully.
Boy! Was I wrong on that.
Once I understood that, I knew I'd be a good teacher and mentor for someone wanting to learn to trade. The folks I've worked with have all said pretty much the same thing:
"When you first started working with me, everything was so simple. I just couldn't believe it. But then, as the course work got more detailed, my trading fell apart because I was trying to make it difficult. But by the last course, you pulled it all together for me so that it became simple again!"
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