Having always been moulded in the concept of the Industrial Age (work hard and you’ll have a good life), I studied hard in school because I “knew” that working hard and getting good grades put me in good stead when the future came. I studied for a Masters degree in Civil Engineering at City University in London. I graduated with a 2:1 and at 22, the world was my oyster. I had, once or twice, contemplated quitting. I couldn’t handle it. But I am a strong believer in the “if I have started, I will finish” school of thought. I pressed on. I completed the course. I did the hard work.
Now 24, I work in a top American organisation that makes over $10bn in revenue. I got in before I had even written my final year exams. I am at the bottom of the food chain there and to be honest, the prospects aren’t appealing. I well and truly believe the honeymoon period is over (and it has been for about a year).
Sure, you get the career progression if you “put in the work”. The idea of 6-figure sums after 30 years of service is not at all enticing. Having come across an individual who works in the money side of the company, I realised that the company was making more off me per hour than I am being paid! I am lining the pockets of the man on top. I decided I wanted to gain financial freedom.
Financial freedom isn’t about having millions of currency in a mansion. For me, financial freedom is having time to spend with family, whilst knowing that my bills are paid and I can afford luxury. Money is the by-product of that vision. Time is the greatest commodity. I cannot afford to give it up to a faceless group of men who only care about earnings per share. They live off dividends, so why can’t I?
I came across trading when my close friend quit university to chase a financial career as a retail trader. While I was against such a move, I realised that he had connections. He knew the right people. He is at a stage right now where he made £125,000 on a normal Friday and then £400,000 the following Friday! Whilst I am nowhere near that level, I realised the potential that trading financial markets gives you. There is money to be made! Anything that is bought or sold for cash can be traded. So I studied it for a year after university.
University was a good experience. Education is a good experience. I advise education all the time. I am always learning. Whether it is formal or not, I keep an open mind. Now, with that being said, I do believe that the type of education you choose to receive is entirely up to you. I am against the way we are taught in schools. We aren’t taught to be entrepreneurial, or to look after our finances, or to build residual income sources. And why should we? Those who fund the schools need clones to work the fields while they sip wine and play golf!
Seek education, like I did. But seek the right education. I wasted my free time in university when I could have been studying, mastering the markets. I am so far from where I wanted to be at this age. All the dreams I was sold about engineering being a lucrative career are all lies. No 9-5 will give you financial security. We are in the Information Age! You do not need to work hard in the physical sense anymore. Opportunities lie everywhere if you put your mind and your brain to good use.
Whilst you seek to trade the markets, be realistic. Set targets. Have a plan. Trading should not overwhelm you. It should empower you. I trade the markets because I want to grow equity. Once I reach a sustainable level, I will not require the charts to feed me. I will be able to trade less and less. No one should spend more than 10% of their day staring at charts. The reason you trade rather than work is so that you have time to spend doing what you want!
Because I depend on my salary to pay off my debts, I am not at the level where I can quit my day job. I will wait to see growth. When my equity from trading overtakes my salary, I will pay off my debts and begin to lead a better life.
I hope thetraderstation.com project is helpful to you and I wish you happy, successful trading. Remember, PLAN THE TRADE AND TRADE THE PLAN.
If you wish to contact me, I’m Michael and you can do so using the tags below: