Money driven mindset
Hello dear trader! This blog post is going to be very special, and probably a "long read" the reason why is very simple. 90% of the new traders gets trapped into the false belief of trading through the social media, especially Instagram and TikTok. I won't say names of the individuals or big corporate companies, but I will reveal some shady stuff behind the scenes that are giving a false picture of what the trading really is. The biggest problem in the Forex industry is the first impression everyones sees, money and lifestyle. I know that we are all old enough to think and decide with our own mind but still most of the new traders falls for it at the end of the day. So "Money" driven mindset can be a really big problem from the start of your journey which can be super difficult throughout the process, with this being said, you can have issues finding the right mentor, you can lose your investment ( Trading account ) and at the end quit, before you even start to taste the real trading and real knowledge. Red Flags: - Flashy lifestyle - Luxury cars ( Lambos etc ) - Big houses - Endless vacations - Flexing with big profits all the time - Flexing with money in general First, you must ask yourself, is this even real? We all know, cars can be rented for photoshoot, Villas can as well be rented, we all know the story of ( forexlifestyle guy on the IG with 10+ laptops and mega WIFI connection at the centre of ocean ( HA-HA ). "Mentors" or "Signal providers" can rent the Trading servers MT4 or even develop their own like some of them did, what they can do with it? Change the balance all the time, correct the trades so that it looks they are always in profit, add the digits to the profits so it looks like they're making 200k a day, but still selling the service right? Endless vacations, everyone who's real and knows how to trade, also knows that being on vacation all the time and having 110% focus on trading, is NO GO. You cannot be focused and partying at the same time, this will lead to losses and blowed accounts at the worst. Why is this a major problem? Because, new traders, and even the traders that are in this industry at least 2 years ( still new ) can fall for those flashy things, and they will start to force the trading journey, forcing trades, buying the content and services all the time and at the end, there won't be any result, but only a lost money on the table and emotional collapse. Be aware of the "titles" - I made 10.000$ in 3 hours - The most profitable trading strategy - How to make 1.000$ a day using xy etc.. Also, If you let me dive more into the trading mentors in educational part: I'm trading for 5 years now, I've seen a lot happening in this industry on the Social media, I also met a lot of amazing people around the world, made the connections here and there and talk to a lot of people about their experiences and journeys. I've seen how social media hype destroyed the real people, because the more fake you are, the more successful you'll be, the more you lie about your background, the better the outcome, the realest one are always having a hard time succeeding in the "Business side" of the Trading, for example: Being mentor to actually help students and putting the effort in the course, community etc. Why? Because trading itself matters, making profits for yourself matters and not marketing and having a lot of time and ideas creating the content for marketing. As a trader and also as " small fish " I know how hard it is to trade, be focused, teach students and at the end of the day do stuff for marketing, record stuff, creating pictures etc. Its super exhausting and one thing is always suffering, mostly trading because of the exhaustion and not being focused on the things that tactually matters. However, Most of the mentors are coming from the good families, which means their journey at the start was not hard, due to constant injection of funds, so going from 0-100 is most likely false. When you're 18 and driving a BWM or any other big brand cars, trust me life isn't hard right? Don't understand me wrong, there's nothing wrong with this, but its super wrong when people lie to gain the trust of the majority to generate sales at the end of the day.
Marketing and re-packaging: There are a lot of ways how you can market your business and "Tools" or even knowledge in this industry. I'm always saying, knowledge is not free, honestly its not. But also knowledge should not be a "monthly" payment service, but ONE TIME FEE. Again, why? As mentor and trader, I know how long it takes to gain the knowledge, experiences and to be profitable and consistent in the trading industry, its not few months like everyone hype, but it takes time, it takes years of practice, learning and gaining the experiences. Now if you're paying monthly fee to gain the knowledge of the so called "courses" cancel as soon as possible, because it will take some time to gain the knowledge and experiences + you will invest a lot of money in it. There are a lot of companies that are promoting the education here with thousands of services and tools you can use, but at the end of the day, you don't need thousand of tools to be profitable and consistent, and those "services" are based on the monthly fee, because of the marketing and sales guys behind it to climb on the ladders of being something in the company by generating consistent sales every month. Just a sale pitch of a false dreams. Re-packing the education: Long story short, most of the courses are one time fee as it should be. As a mentor, this is my side hustle and compensation for years of experiences and knowledge I provide, as well constant support to my students, community whenever they need me and any additional coaching calls. I will never charge for additional calls students need or any new "lectures" e-Books I'm releasing, why? Because its one time fee and everything is included as well for the future course videos, written material etc. Marketing tactics of re-packaging are the same knowledge its brilliant idea from the business perspective, because you can sell same stuff to same people TWICE. In my country we say to this: " Isto sranje, drugo pakovanje" Which means "same shit, different package" And sadly, its true. I can't and won't ever understand this kind of behaviour of "mentors" in the trading industry. But every excuse is good right. Why people quit and what is the problem? I know that 90% of new traders quit trading in the first few months, some even after a year or two because they don't see the progress they wanted or imagined because of the social media hype. Also another problem lays in the mentors itself. As a mentor, you have the "secret sauce" right, so NOT telling everything to the students is very sad and bad, because instead of speeding up the process of knowledge and being on the right path, they get postponed and process is longer. My students are my success and my joy when I see how good they've become, what they achieved in a short amount of time and what lays a front of them in the future. Excuses like: It takes time, it will come when it'll be the right time, it takes years, are solely excuses. I agree that it takes time, because of the experiences you must gain throughout the process, but it does not take the time for any individual to gain the knowledge as fast as possible and to actually have the right education for trading and understanding the trading mechanics behind the scenes and knowing why price is moving from A-B. A guessing game strategy will for sure take a lot of time to actually do something and achieve anything. So why wasting time? Social media hype and bashing other mentors: There is no "Best strategy" in this industry, anything can work if you're willing to put the work in and be consistent about it as well if it suits you as a person and your trading style. What I mean with this is, some traders in 2022 are still trading with EMA crossovers and Trendlines, and it works for them, I'm happy to see this, but it doesn't mean it will work for me, and honestly it doesn't. Some people are still trading the support/resistance strategy or Supply/demand and zones which is the same thing just different name for sale pitch. And it works for some, but not for everyone, some traders find it difficult to trade this way, some find is super simple and easy. It doesn't work for me, but I'm happy for those that are trading this way successfully. Some people like more details into the background of the market, understanding why price is moving from A-B and where are the points that trades get executed and big RRR's. Simplicity behind it and almost zero stuff on the technical analysis to keep it clean. This is me for instance. Every strategy can be complicated if its not explained in the simple way, everything can be hard if its not taught well, nothing can work if you're not putting the time and effort in it. Simple as that. At the end of the day, everyone is different, and every trader trades different and trading my way doesn't suit everyone. And at the end of the day, I won't say bad words or try to say " You noobs this isn't working, stop trading like this" or "everyone that teaches this way of trading is scammer and fake" LOL. I find this behaviour sad, low confident and attention seeking of the majority to present yourself as a saint of trading. Last note: Think with your own mind, do the research, talk to people who are trading and are realistic, decide on your own, and stay away from the services that are presented through the cars, luxury and nothing educational, but just selling the dreams. I hope this blog will help you in anyway possible for your future trading, decisions and your journey. Wish to contact me? IG: Tradewithsebfx FB: Forexwithseb Email: email@example.com Sincerely, Seb