How to Get Financial Independence Without Money?
Bitcoin / Dollar
This post is the result of a short discussion from the previous post. The question was: is it possible to get financial independence if you have only 10USD as a starting capital? My reply is – YES. Probably you won’t believe but still, let’s try to imagine such a story.You are a young guy without any solid capital, and only you have it’s 10USD in your pocket. But you are not lazy, and you are hardworking. For you, to put efforts into reaching your goal, it’s not a problem. You like to think and search for possible solutions. And you start with your 1st step which is in the right direction from the beginning! You know it because you are sure that knowledge is the basis for further steps and it will help to reach your goal. You start searching for possible variants and type of business which can give you financial independence.
You understand that 10USD, it’s a really small capital for starting a real business, and you move to something more available for you. You get a reply very soon. You remembered that one of your friends told you about amazing opportunities which financial markets can open for you. He is an experienced trader and you believe him.
It looks strange that 10USD as starting capital can open new doors but… you do research and EVRIKA!
You find a solution. You get a broker-company (a company which provides services for trading in the financial markets) with a cents account where you can put several dollars and start trading on real money. You are smart, and you understand that without knowledge in this field, you have a good chance to lose this money and starting trading right now – it’s a stupid idea.
You decide to learn more about trading in the financial markets. You ask your friend some bits of advice, you start searching for free stuff in Internet, you watch videos, and you read books which your friend shared with you (don’t forget you have only 10 USD and you can’t buy any book).
You spend months for understanding how financial markets move, how to make analysis and search for possible trading opportunities. You learn about money management and trading psychology . You grow your skill day by day. You apply your new knowledge on practice using a demo account. You still don’t try to trade using real money because you understand that you will blow them very quickly. You got this knowledge from the experienced trader.
You spend more months on learning and getting experience from demo trading. Only when you get a trading strategy which suits you and your nature when you designed a money management strategy which will protect your deposit from blowing up and help you to manage money properly for faster capital growing.
You combine these strategies into a trading plan, and you are going to follow it day by day.
You know how it’s important to have a trading plan with trading strategies and money management strategies, how to be disciplined and follow the plan day by day, your friend has solid experience as a trader and he shared with you this important advice. You follow your friend’s advices because you don’t have much experience yet.
ONLY AFTER THAT, you decide to try real trading. You put your 10USD on a real cent account and start trading!
You have a lot of emotions, but you also know how to control them. You have loss trades, and you don’t panic. You know that they are a part of profitable trading.
You trade day by day following the trading plan. You control emotions and don’t try to become rich very quickly.
Your friend helps you to improve different elements of trading and make your results better and trading more stable. Also, he advises you to keep records of your trades. He suggests to do it because, in the future, you will be able to show it to anyone for proving your skill and search for possible investors. You start doing it from the beginning because you trust the experienced trader.
You know you made already a lot for moving closer to your goal and everything you need now, practice in trading for getting more and more experience and continue growing your skill learning new aspects of trading. You start trading like a PRO, and you like this style… In several years. You have spent several years from that day when you decided to try trading in the financial markets. You had only 10USD as a starting capital. You made a right step from the beginning in the direction of getting knowledge, and it allowed you to save this 10USD. You learned a lot from that moment, thanks to your friends who had experience in trading, thanks for your hard working!
You believe that one day you will reach your goal – get financial independence. You knew what to do, and you moved step by step. You could grow your deposit in from 10USD into five times, and you think it’s an amazing profit in %.
You kept the statistic of all your trades which shows now how good you are as a trader. And you know that now you are a good trader.
You have everything for trading: the proven trading plan including the proven trading strategy and the solid money management strategy. Within several years you have made about 500% of profit, and it’s an amazing result. You could keep your money and have good drawdown during this period. Now you know that you are ready to move on the other level.
Start working as a money manager. You know that investors search for good traders and you know what to offer them. You start promoting yourself as a trader. You get the 1st investor who gives you a trial deposit for managing. In several months the investor is impressed by your results and give you the solid capital for managing. You start getting solid income from such trading because the investor shares with you a part of profit.
Now you trade using big capital, but you continue to use the same trading plan which was proved by previous years, you use the same trading strategy and money management strategy. They worked for you when you traded with 10USD and gave profit and they are also good with 100 000USD capital.
After some time you get another investor who was also interested by your trading results. In several months the number of investors grows and the same goes about the size of capital you manage. Also, you grow your income from this activity. As investors get good profit, you get a part of this profit as rewards for managing. Day by day, you move to your main goal – get financial independence. Now you are not far at all. After some good period as a money manager, you can earn solid capital, it’s yours. You can start trading using this money, or you can continue money managing. Maybe you also want to share your knowledge and experience with novice traders or share your trading ideas for some financial websites. Now you have a lot of new opportunities which can give you a solid income and only you can decide which variants to use. All these things could become possible; all your dreams could come true only because you made your 1st step in the right direction. You decided to get knowledge and use it as a solid basis for further growth and moving to your goal!
Source: TW DLavrov