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How Gordon Travels the World
Written by: PaxForex analytics dept - Friday, 06 July 2018 0 comments
Hi everyone, Gordon is the name and travelling the world is the game. My parents loved to travel so I grew up a different locations around the world. I grew up wanting to have a life like theirs. Both loved what they did for a living, had the freedom to work from wherever they wanted and seemed to not have a worry in their life’s. One thing I didn’t know when I was growing up was how much work, dedication and patience they put into their career’s to get to where we were. Now I am 41 years young, travel the world for over two years now and am where I always wanted to be.
There are different roads one can take to fulfil their dreams, mine was trading. I was always fascinated by it throughout history. I doesn’t matter if you trade spices a few thousand years ago or if you trade online now. I know a few who like to trade across the board, but I decided to focus on forex trading. I love the liquidity of the market which is what I need in order to earn the money I need. While I am not a scalper, I do trade very short-term with what I call higher volume than the majority of traders. $6 trillion exchange hands every day in the forex market which means that there is plenty of profit opportunity.
I think one very important factor when it comes to forex trading is almost never discussed. You will read and hear a lot about profits and losses, psychology, trading strategies, success and failures, but not many talk about the time it takes for any of those to be mastered. This leaves many under the impression that it can be done very quick. In my experience, those who approach any aspect of trading with the word ‘quick’ have very little chance of succeeding. The only quick thing they will experience is the loss of their money.
It takes time to learn, it takes time to create a trading strategy and it takes time to gain the necessary experience. Losses are as much part of trading as are profits and a tough mental ability is required to weather the downside. This can only be learned by actually trading in the real market and therefore time is a key asset. Even if you decide to follow traders, copy-paste their positions or even opt for an account manager, it still requires time to build your trading account. Very few are
blessed to be able to start with a good size trading account which will generate enough income.
Many make the mistake of only making one deposit and then they start to trade. This is a very flawed approach and shows the lack of an overall strategy and planning. My first step was to calculate how much money I need to earn per year in order to live the life I always wanted. Then I set a realistic annual growth target. Many believe that earning 4% per month is a joke, but it only shows that they have not traded for a living. 4% per month on a consistent basis is 48% per year which is an amazing return. Ask any true professional trader or check available online statistics of fund managers and you will see what I mean.
After I set my annual earnings target and together with my annual growth target I was able to calculate how much money I need to have in my account in order to earn what I need. For example, if you need to earn $40,000 per year and you know you can achieve a 40% ROI in your forex portfolio annualized, you will need to have a total of $100,000 in your trading account. This is why it requires time to build your account. Of course not all of this is through deposits, as you will also add your earnings, but one thing it means for sure is that you don’t withdraw any cash until you reach your goal.
I also made sure that I had enough cash in the bank to last me through three years after I quit my job to travel the world. This has taken a lot of pressure of my daily trading. It took me over 16 years to get to where I am today, but it was the best investment I have made. I am now 41 years young and feel my life is just about to start. I am financially free and don’t have to worry about the economy or job security. I usually visit a new country every two months and my plan is to travel the world where possible. Forex trading together with the teachings and inspiration of my parents have been priceless to me. Start your own journey today by saying yes to forex trading. There is no better time to act then now and no better place to start then PaxForex.