The increasing gap between the poor/ broke and rich is clear. This is even worse now under the ongoing global siege and economic crashes. Fact, irrespective of whatever the economic performance of a nation, there’s always winners and losers. Now to understand the reason for such a great gap is to look into the difference in THINKING/ Mindsets.
A Mindset is a series of self perceptions, beliefs or notions a person has based on the influences around them i.e. family, personal experience, media, education. In other words, it is a set of beliefs a person has that moulds his or her state of mind.
Mindsets can be used to categorise people. In this case, these beliefs & influences help segregate the rich and the poor. When I say “rich and poor”, I’m not necessarily talking about bank balances! Don’t miss it.
Normally we say, FOREX IS NOT FOR EVERYONE. This is because of the difference in mindsets. A rich mind has understood very simple principles such as: it takes money to make money. Money is seen as an opportunity to invest in knowledge, skill & performances through a quality education, an opportunity to save & invest in order to yeild great profit through businesses, financial markets, real estate etc.
Whilst the poor would rather work for money, enslaving them into an endless cycle of struggle. A cycle that makes it harder to even think of quality investments. Usually thinking short term. In fact, they want their money now lol. It’s understandable though due to pressing circumstances.
Now it’s important to understand the different levels of investment. For the broke/ poor, your best investment could be in planting seeds to sell vegetables, or buying a few products to sell at a profit. Such allows for an almost immediate ROI which is what this class would most likely prefer.
Now we know the majority of people that fail in forex trading is mainly due to a certain mindset. The greedy, fearful, impatient etc. This is what we call the broke mindset! This class would seek for shortcuts falling for multiple scams because they promise immediate returns for literally doing almost nothing - easy. Things like preferring a 2 day course over a 3 month program, choosing a cheap service over quality services. These are the ones lured by glitz and glam, fake lifestyles.
It is true most people can’t afford better standards because of their unique situations. But we can’t also ignore how broke minds can take up a loan to spend on expensive alcohols, take up massive credit for “German cars”, big houses, iPhones, parties, designer clothes and so on BUT will make excuses for making the same effort/ sacrifices for worthy investment opportunities.
The rich minds (rich doesn’t necessarily mean bank balance ) have an advantage in trading, they come in calm with a long term vision. They will use their financial resources/ make sacrifices to gain knowledge, skills, performance enhancing products such as stable WiFi connections, a good laptop, a table, an office chair etc. They will then invest quality time in learning and mastering their skills which allow them to capitalise on massive financial opportunities.
The truth is, there are no excuses to settle for if you truly want to level up and be successful, lest it be your destiny. Life is unfair, agreed but winners make a way, and losers meddle in pity, complacency of circumstance.
The world doesn’t owe you anything. Nobody owes you anything. You owe it all to yourself. Remove all distractions, reject the pride, fear and go #MakeThingsHappen! ~ IG @tradersbayfx @allabouttheentry @profitnext @tbfxlive @cryptojugger