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Trading As Your Only Income

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Trading As Your Only Income

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In this Hong Kong Forex trading vlog, I share my thoughts on having trading as your only income. Smart decision? Let's have a look at that so you can reach your trading goals faster! Vlog #450

Risk of ruin: https://youtu.be/eDkmPK6pEyI

Should you risk 1% per trade? Watch this: https://youtu.be/mPVh9RlK62s

Series on risk management: https://www.youtube.com/playlist?list…

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- In my mind, it's kind of if you enter a car dealership, and they tell you, "You can have any car you want. "As many as you want, "anything you want." And you say, "Okay I'll take this one." And then you leave, and you never come back. Why would you do it?

What's up, traders, I'm back to Hong Kong. Today I want to share with you, some of my thoughts about trading as a single income. And I'll make this very clear. I have a strong opinion on this, if it's not for you then fine, but I've seen what works and what doesn't. And I want to make sure that you succeed, you get the best chances of seeing financial freedom in your life and things that you wanna have in your life.

So if you feel angry because this video and everything, then cannot do anything for it. But I'll share my views, you can have your different opinions, and we'll just rock with that. So recently I saw this tweet on Twitter from a trader I know, and I kind of found this funny. I want to share my thoughts on why I think you should not have only one income in life. And I even asked me how many should you have. And the answer is, as many as you can. The answer is simple because, the more money you have coming in, the better your lifestyle. And I think that's just schism, I wont explain that. I think that's a simple fact. But I want to share with you some tips on why I think you should not go with only one income as your trading income. In my mind, it's kind of if you enter a car dealership and they tell you, "You can have any car you want, "As many as you want, "anything you want." And you say, "Okay I'll take this one." And then you leave and you never come back. Why would you do it? Why would you not kind of go as far as you can? We as human beings have the chance to kind of grow a lot and one out of three they grow until they reach the highest height that they can be, but we as humans we get the choice to pick do we want to grow that tall or it's like that tall and like be small and you decide. Now if you want to decide to stay small you say, "I like to be small."
It's fine for you but if you want to be bigger and grow taller which means that you be more income, more growth, more success, then go with multiple sense of income. Make it work and make your live for it. I've always believed in the fact that seeing yourself as only a Forex trader, only a trader, only a what a futures trader, only a day trader only a swing trader is very limiting because you pushed a lot of opportunities you could have in life and there's no point. You might as well see yourself as a world class person and that's gonna mean that you're gonna work on things to grow incumbents because you can. And to choose the lifestyle that you really want to have.
Now there are a few reasons and I kinda wanna expand on that why I think that you are better with getting multiple streams of income and the first one is that you won't stress that much at the end of the month. Now I can have a good bad month and training for myself and I'll be like that's fine, mr. bad month. I'll find a way to improve but I won't try to go in the street and get money. I'll be fine, and that's a skill that you should have also.
You should be able to kind of detach yourself from the outcome go with whatever happens, just be sure that you show up at your best of course, but beyond that you can't really control anything else. So why trying to control things when you can't and when you should just be focused on you doing your best and achieving the best result that you can. So that's kind of my thought. And the other thing is you might tell yourself well, I don't make a living trading and achieving a best life and have freedom but I don't really want to kind of have to find capital or trade for people, and these traders doing for the people they make huge money sometimes they might be doing only that or multiple things, and that's based on what they prefer but you just can require to start the fun and get outside capital lot.
You could like it, you could do it, but if you don't want to do it, then building your student income over time and make sure you have the most you can have in life, its your best bet, it's gonna be the easiest way to do it without kind of setting up a hedge fund and doing all the stuff that's required with the hedge fund. If you don't do it this way then that's what I recommend. It's kind of how I've been seeing the most fulfillment for myself and how I perceive a ton of building multiple ways to make money, maybe even later I start a hedge fund, who knows? Whoever I'll be working on and what I want to achieve later. B
ut at this point I still prefer income streams outside of trading because they provide more diversity, better security, and just a better feeling for myself that I make a difference I contribute to other people in life and it is an awesome feeling to have. Now you might have feel the same way and that's fine, but from what I've seen for myself, understood that I needed to help people and it kind of be having a business on the side, to kind of stay fulfilled and sharp as opposed to only trading I goes and just trading that's it. So that's the path I've taken. But you could take whatever path you want and you create your story, of course as always. You're the one responsible to create your story, to go forward, take the steps you want to take; not ever the step society tells you to take, but the steps you want to take.
You should be working every single day in your life, on your own term not everybody else's term. People say, well get a job do this, do that, you cannot trade and teach or you cannot do this and that. Who are these people to tell you? You should be doing exactly what you want to do on your own term, and then you don't care at all what people think after that, okay? That's like your call, you run your life, and then you get fulfilled. And that's kind of my thought. Now one last point that I think must be made is the fact that I don't know for you but for me there are things that I like to do some time and then I feel like I don't want to do them at some point and then I feel like I want to them after later too. So it could be the same thing happening with you.
So you might want to work on something now, you might not want to work on it like five months from down the road and you might want to go back after later to it and that's fine. You get this freedom of choice when you have multiple ways to make money. If you have only one then you have to do it all the time, it feels like a job and you're stuck in it. But if you took the time to build streams of income now today, working in things now and produce income later by themselves which is what passive income is about then you get that possibility to choose what you want to work on, what you feel like you want to spend your time on today, and you might even say they come with subsetting for a month, we'll focus in that business, build that thing up, and they'll be coming back to trading later. And this, if that's your choice, then do it but if you only have one way to make money, only trading, then you won't be able to do it. And you might be stuck and frustrated because if you do two things at the same time and you cannot focus your time on the one thing, okay?
So that's why I see it doesn't really make sense. And I've made this decision kind of like few years back of only surrounding myself people that have the same goals that I have, do the same things that I do and I might be kind of stuck with traders that only have one way to make money, but I understand that I cannot take advice from them. I can learn a bit from them, but I cannot take advice from them because I should be taking advice right now only with the people that do what I want to do, which is multiple streams of income and trading included. And those are people that I look up to, I spend most of my time with, and that's just my choice and I feel better this way. Like, don't turn yourself to people that tell you, "Oh you should have only trade, "you should only do this, "like don't do that because if you teach people your setup, "or if you do this and you have a business for trading, "you're stupid guy." Don't turn yourself with those people, because that's their vision of the world do limiting themselves and they won't be achieving anything big in the future. That's for sure unless they change your mindset, and you don't want to be limited by those people ever. Like, think about being a good tree, the two tangos tree are the trees on the side, all this one say I should grow this big this one says I should grow this big so I'm going to just grow this big and respect them. No, like, the tree doesn't care and you should think about the same.

But let me talk about the comment as always I want to hear you toss below, here a few comments about you appreciate you guys always for the comments down below in the comment section. If I can do anything to help you, Campbell yet know as well. Subscribe if not done yet, and I'll be catching you back here in Hong Kong for another video tomorrow. Ciao!

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About Me

My name is Etienne Crete (from Montreal, Canada). I'm a swing Forex trader (who has the chance to travel the world anytime) 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.

You see, a lot of aspiring Forex traders lack the confidence to pursue their dreams. I'm there not only to help you develop your confidence but also to implement the tactics that are proven to give you results. You'll develop Forex trading discipline and the other skills you need in NO time!

Ultimately, you'll get to experience what a day in the life of a Forex trader truly looks like, but you'll also have to be consistent with your Forex weekly review!

I produce a traveling Forex trader vlog and host the Desire To Trade Podcast. I was fed up with the “fake” millionaire traders and the “get-rich-quick-trading guys”. That's why you can expect more free content from me than what other people charge for!

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