How to Re-Invest Your Trading Profits for Big Momentum!Etienne Crete 2020-05-31
The reason most traders aren't profitable is that they don't treat trading as a business.
This isn't something new and I've covered the topic in-depth before.
Now, the reason most traders don't become wealthy (financially independent)
…is because they don't learn to re-invest their profits the right way.
Over the years, I've seen many traders go full-time.
They hoped to change their financial lives.
Fast-forward a couple of months, these traders were back to a full-time job
…because they couldn't sustain their profits.
They also spent the initial money they made on cars, fancy champagne, etc.
The truth is: most traders have no clue how to re-invest their trading profits.
So I want to share with you 5 simple, yet powerful ways you can do that!
…of course based on my experience and the one of other successful traders!
#1: Invest in Trading Tools
Most traders – including myself – love new tools!
Platform features, automation, alerts, trading journals, etc.
Not only can investments in these help you perform better,
but they’ll enable you to live more of the freedom lifestyle you desire.
That doesn't mean you should spend money on whatever tool you come across, but you, at a minimum need to try new things.
And keep using what you see makes a difference in your trading.
#2: Invest in Your Ability to Perform Better
Tools are great!
But what about investing in yourself?
Buying a new great car & keeping old tires won't get you very far.
And that's why investing in your health, mindfulness, etc. can be very useful.
Personally, I made the decision roughly 1 year ago that I would spend more on quality food than trying to save it through eating cheap food.
Instead of a $1 oily fried rice, I go for a $12 salad.
You won't see the return on that in the short-term.
But it'll pay big time in the long-term!
Also, think about things that create balance in your life and less stress.
These can be the best investment for your trading and happiness.
#3: Invest in Others to Help
Obviously, most coaches would tell you:
“Invest in a good trading coach.”
That's true, but there's a lot more you can do!
For instance, how about a coder to help algo develop your profitable strategy?
Delegating key parts of your business to specialists is very underrated.
But it can have a big impact on your trading success!
Think about it…
We all seek specialists in real life (doctors, plumbers, realtors, etc.)
…the same should apply with your trading!
#4: Invest in Other revenue streams
Here’s something you may not expect.
You can take a % of those monthly trading profits and re-invest them to create other income streams.
I discuss this a lot about this in my YouTube videos.
When you have many income streams, not only do you diversify your overall business risk
…but also gives you additional income when the markets are slow.
The easiest way is to find what else you love.
Focus on that and how you can generate income from it.
Then watch your overall income grow along with your trading.
#5: Invest in Rewards
The best scenario is doing the work, then rewarding yourself with something awesome.
And then repeat until you build massive wealth!
There's a reason why this works well…
The proper reward will motivate you to work harder so you can get another reward.
Usually, if I'm implementing something fairly big in my trading, I'm entitled to a reward.
I've used this many times.
Some of my rewards were:
- Business-class flight from Canada to Asia
- Evening in an epic rooftop bar in Bangkok,
- 3-5 day vacation in a 5-star hotel resort.
Taking a percent of your profits and rewarding yourself has a direct impact on your trading plan compliance rate.
Then build your rewards plan to include vacations with your family.
Once you include rewards into your re-investment plan,
you’ll think twice before taking that impulsive trade!
So those were the ways to re-invest your trading profits!
Let me know which one you'll start to implement starting today!
And if you want to get my help to get more success in your trading, I strongly encourage you to apply for working with us!
I mentored roughly 200 students through the Desire To Trade Academy.
…many of which became profitable traders, and even went on to start their own funds!
Keep crushing it 💪📈
The Author (Translated)
My name is Etienne Crete (from Montreal, Canada). I'm a swing trader and help aspiring Forex traders develop a trading method that works for them so they can produce income allowing them to live with more freedom. I've interviewed the greatest figures of the trading world and consider it my mission to help you implement their advice!