As the strains of “auld lang syne” passes from your ears and the reality of the new year sets in, it is time to take stock of those new year’s resolutions you made and start putting them into practice.
But, if you could only do one thing as your trading resolution in 2017, what would it be?
The answer is simple “More money”.
In the last few years we watched as the GFC unfolded, the Euro Zone cracked, oil tanked (metaphorically, with pun intended), Britain exited, Trump rose, Tech soared as all these events bubbled over and came to pass. And accompanying all of these changes came pessimism and fear.
People, traders, were standing on the side and watching the end of the world. Some traders got skittish, ran for gold and other safe havens, like property. Others sat aside, held cash and hoarded, became survivalists and built bunkers. A few people even went for bonds despite the poor returns.
And the smart ones? They profited.
As a trader, the best time to buy is when there is blood in the streets when people are pointing towards doom and gloom. Here, at these times, bargains abound and fortunes are to be made by the bold.
So the New Year’s resolution that we need to embrace? Be bold. Go forth and recognize that there is no profit in standing on the sidelines waiting for you lottery winnings to come knocking at your door.
You must act.
For some people, this is the hardest thing. All around you hear the “chicken littles” telling you that the sky will fall in, that your investment is too risky. All the white noise makes you doubt your ideas and thoughts and makes you inactive. You watch while the profits come, and you stand by, leaving it on the table.
It’s not just a call for action to trade; this is the call to action for your wealth generally. It probably comes as no surprise that when reading about millionaires or people of wealth, you generally don’t come across too many that made their great wealth by working in a 9 to 5 job and saving hard. In fact, you won’t find any. That’s because it is not possible to generate great wealth without investing.
Investing requires risk, and risk provides reward. Fortunes are there to be made, for anyone willing to dare.
So the one and only step that needs to be taken for your wealth in 2017 is to recognize that you are in control of your financial future. Anyone, even those with the smallest amount of money and time, have the ability to begin their year by stepping out of the rat race and into the real world. You don’t need to be the most brilliant, the most connected or have millions of advisors. Nowadays, all you need is an internet connection and a credit card.
So, get out there, be entrepreneurial! Find a thing that you are passionate about and turn that into a money stream. Invest, trade and build an income that doesn’t depend on your boss or the job market or decisions being made by remote executives. Create something that will start you on the way to financial independence, and take control of your life rather than have it continue to control you.
Open a trading account and begin the first step to the rest of your life…. today.Get the 5 most predictable currency pairs