The dream most people think about trading for a living is that you literally make money from anywhere, using some secret formula, and getting your trades right all the time. A quick rich scheme, where you money makes money, and you are free.
In the first sentence of Elder’s Trading for a Living I remember quite clearly he said something about it being possible, to be trading for a living, defining it to mean you live off your trading profits. Meaning, you trade, you profit, you make money, and never have to work again.
To an extent, yes. That is what I am doing. My main income comes from trading. I make a range of 3-16k per month, with some months in a loss, but not too great a loss that I am overall in a loss. Overall, I have made enough profit, that if I withdraw my profits on a monthly basis, I can live comfortably. I’m not a millionaire, because I’m focused on small steps, small risks, and compounding for the long term. I don’t risk all my margin in a single trade. I trade like I am running a business. I pay myself a salary when I need to, but my focus is on growing the business, to compound the profits over a long term.
I guess some, if not most, people think trading for a living think its about making $500 a day using a secret formula with no risk, and the $500 a day goes into the pocket everyday. I’m sorry, please don’t fall for those cons. While it is possible, ask yourself: Why would someone want to spend advertising money on such a thing to attract your attention? I am trading for a living, but I’ve not put in much advertising money into selling the idea of trading for a living because I know the truth. I can easily con people. I have the results. And I can sell snakes oil to vulnerable, desperate people. Thankfully, I am not one of those type of people.
I was asked an interesting question by a potential client yesterday: “What’s in it for you?” I interpreted as “What’s the catch?” Because what I am offering is as good as free. Yes I do charge fees for certain services for my time, but those are truly nominal and I’m happy to negotiate if I can get something from you in return. Check out my Facebook page and tell me what you think of my services and prices.
Well the fact is, my main source of income still comes from trading. I do have side income from lecturing part time which I love for the lecturing and nurturing of students, I’m not doing it solely for the money, and this Smart Casual Trading coaching project, well, is perhaps, potentially another source of side income for me.
But I do have a main goal with all this. I am passionate about my brand. I am passionate about coaching. I am passionate about being the “go-to” guy for honest, authentic, coaching. I’m sure there are others out there. But I sincerely want to help, because I myself struggled in my own journey. And I came up with this as a side project, and so far, it’s been empowering, and enlightening for myself.
So coming back to trading for a living or for a side income. The answer, unfortunately, lies in a simple fact: How much capital do you have? Remember, I run my trading as a business. And as with all businesses, you need capital. Small businesses with small capital cannot expect to make big bucks overnight, but little by little, growing your brand, gaining market share, that’s when the money rolls in, as you reinvest your profits back into your business. I am able to trade and make sufficient money to live off them because I have substantial capital. It’s as simple as that.
As for side income, the answer is simple. How much capital do you have to trade? If , again, it’s not much, then keep your job, and treat forex trading as a source of side income to grow your capital. Take it as an investment. Take it as putting aside a sum of your salary into this side income, and grow it slowly. With the power of compounding, you eventually, as I have, may reach a point where your trading income exceeds your salary. Then you can ask yourself, what do you want to do.
The problem with side income is that most people with full time jobs will hardly have the time and energy to start from scratch. And that’s why I’m here. And that’s why I believe Smart Casual Trading is the best “dresscode” to trade. It doesn’t’ require much time, effort to execute, but it does take time to learn to build up knowledge, skill, and discipline, all of which are within your own hands.
I have clients who are willing to jump into the unknown going full time. I have clients who just want something to spend time on and make lunch money. if they can. I have clients who are just looking for side income. I have clients who have little, but wish to be independant.
The Smart Casual Trading Method is for the everyday person. I designed it so. Because money is not the true value behind the method. The true value is in freedom and self-empowerment.
As the saying goes: “Price is what you pay, Value is what you get”