Can you ever hear the story of the two guys being chased by a bear? One guys stops to put on his running shoes, the other man yells out, WHAT THE F#$% ARE YOU DOING? YOU WON'T OUT RUN THE BEAR!! Another runner, unphased and serene, I do not have to outrun the bear, I just have to outrun you.Originally Posted by ;
Forex isn't a zero sum gain, nothing in the world is, but what's profit and what's reduction?
Because you understand, in Forex, buying is selling and vise versa. If I trade $10,000 value of GBP for USD, someone, or a bunch of people are trading the equivelant amount from USD to GBP. Now, if I trade back in a profit to me personally, some where, a few amount of people are tradeing back in a loss to them But some might be trading in a profit too.
There are 4 groups of traders, the Trader, The Institutional, and also the advanced retail. The last group are the beginners - that wind up using their money taken away by the advanced retail traders.
You are studying to be at the Advanced Retail Group. You will most likely lose some cash while at the novice group, but it's paying for nicely learned lessons.
Now, the more profound moral problem here is, how do you choose out of others and feel about it? That depends on your personal relationship to money. What does money mean to you? What exactly does wealth mean to you? What would you do with a lot of cash? What do you do if you had no cash?
Examples 1: I do 8 hours of effort and earn $1000. I pay rent and the cash is gone. I traded 8 hours of my expertise for a month's stay at my loion. For me, money is a measure of my value/hour. In turn my feeling of success and accomplishment comes from my ability to maximize my value/hour.
Example 2: I have $1 million. I loan it into a business, I earn 6% back in 1 year ($60,000). I have done no work. So now, money to me personally and into the busness, means the value/dollar, that equals 6%/year. My feeling of success and accomplishment isn't tied to my hourly value.
Example 3: I do 40 hours of community services. I make enough to live for 1 month. The lives of people I directly impact gives me this extreme feeling of success and accomplishment, I do not need anything else. My value/hour isn't measured by monitary amount, but to an unmeasurable entity - the positive improvements to peoples lives.
Example 4: I am an artist, I sleep at a warehouse and eat immediate noodle using paint-stained hands on. I earn no money, but my sense of accomplishment once I am working on a masterpiece feeds my soul.
My point is, any one of the folks mentioned above could be Currency Market traders. Why they trade is up to them. Whether they win, or even if YOU win - that, could only be defined by you!!!
Cheers,
Thomas
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