Why do you want to be Rich? | Forex Factory

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Why do you want to be Rich?

  • #1
  • First Post: Edited Feb 20, 2013 7:03pm Feb 16, 2013 3:53pm | Edited Feb 20, 2013 7:03pm
Let's face it.. You wouldn't be trading if you weren't looking to hit the 'jackpot' or 'get rich quick' or even just quit your job working for some douche who flirts with your wife. We all have our reasons, here's mine:

I want to be rich so i don't have to worry about where i am going to sleep, eat, or how i will wash clothes or get around.

Questions come up like:

Where am i going to live ?

Am i going to be able to eat today ?

How am i going to get to where i need to be without a car ?


A lot of these questions come up and i think about the crappy economy and how i haven't been able to get a job working for some *sshole for minimum wage for the past 5 years.. Why would you want to ? We have the power within us to do what they are doing. What "The Man" is doing, What the banks do, what big corporations do.. I live in the U.S.A, southern California.. Out here it's mostly about EGO.. i really don't care about all that.. all i care about is to not have to worry about money. Working a job for someone just to barely make it ? Or start my own business or start trading for a living ?

I haven't worked for anyone since 2008 and i don't plan to ever again..

So , tell me why you guys are trading ? why do you want to be rich ? could be anything.. "oh i just want to blow money on whatever i want " or " i want to get a huge mansion or i "want to buy a freakin jet and fly all over the planet whenever i want "


could be anything so let's talk about it !
  • #2
  • Feb 16, 2013 5:03pm Feb 16, 2013 5:03pm
Freedom
  • #3
  • Feb 16, 2013 5:12pm Feb 16, 2013 5:12pm
Quoting h96
Freedom


Inserted Video
  • #4
  • Edited 6:28pm Feb 16, 2013 5:26pm | Edited 6:28pm
To travel and be free I guess, I want to see the world while I can still enjoy it. It seems that trading can offer you that because all you need is an internet connection and a laptop. Even if it does not make me rich (supposing that I can someday achieve consistancy) the freedom alone would be well worth all the effort. If I had the choice between getting paid 50k a year working for someone else making him rich or trading my own account making the same 50k years in and years out it would be an oubvious decision for me to take.

PS: On a more materialistic perspective if I one day strike gold in these markets being the captain of my own big ass sailing boat anchored somewhere in the caribbeans with a crew ready to hit the sea on a moment's notice would be insane
It's not about what you make, it is about what you don't lose
  • #5
  • Feb 16, 2013 5:40pm Feb 16, 2013 5:40pm
Awesome ! thank you guys for posting. it is very interesting to hear everyone's goals and aspirations
  • #6
  • Feb 16, 2013 9:20pm Feb 16, 2013 9:20pm
I want to be rich because of the freedom and peace of mind that will give me. Once I get there (already did the groundwork for that) I intend to live my life in Dubai outside the clutches of governments that would see me as a source of "revenue".

My government is among those that saw the light to some extent and now we have a 16% income tax which is not outrageous like in most places and since there's not capital gains tax forex profit is tax free. But on the other hand the government and the people are still oozing contempt for private property. Therefore I see no particular reason to support the bastards after my family's properties got confiscated and they only saw fit to return pennies on the dollar.
  • #7
  • Feb 16, 2013 9:26pm Feb 16, 2013 9:26pm
I want to Financial freedom
  • #8
  • Feb 16, 2013 11:15pm Feb 16, 2013 11:15pm
Quoting SpacyTrader
I want to be rich because of the freedom and peace of mind that will give me. Once I get there (already did the groundwork for that) I intend to live my life in Dubai outside the clutches of governments that would see me as a source of "revenue".

My government is among those that saw the light to some extent and now we have a 16% income tax which is not outrageous like in most places and since there's not capital gains tax forex profit is tax free. But on the other hand the government and the people are still oozing contempt for private...
sounds like your in the USA lol ! i would love to go to dubai as well
  • #9
  • Feb 16, 2013 11:29pm Feb 16, 2013 11:29pm
Quoting aceventura69
To travel and be free I guess, I want to see the world while I can still enjoy it. It seems that trading can offer you that because all you need is an internet connection and a laptop. Even if it does not make me rich (supposing that I can someday achieve consistancy) the freedom alone would be well worth all the effort. If I had the choice between getting paid 50k a year working for someone else making him rich or trading my own account making the same 50k years in and years out it would be an oubvious decision for me to take.

PS: On a more materialistic...
This is my exact plan ! I want to travel while i'm still young. That's why i like this job as well.. we can be anywhere and be getting paid. paid to vacation lol. I personally don't have to be rich, just as long as i have enough money to be able to support myself and not have to worry about saving money for the things i want. just go do it and go get it.
  • #10
  • Feb 17, 2013 12:00am Feb 17, 2013 12:00am
It's not that I want to be rich, I want financial freedom.
Play the players, not the cards.
  • #11
  • Feb 17, 2013 1:05am Feb 17, 2013 1:05am
My first goal is financial freedom. I want to work by my own rules and not having to worry about finding and maintaining customers, time schedules or the tap on the shoulder while thanking me for all these years of cooperation.

After I reach this goal a image I always have in my mind is me, sitting on a summer afternoon by the pool in my house, sipping martini and my kids/grand kids playing around.
  • #12
  • Feb 17, 2013 1:43am Feb 17, 2013 1:43am
I do NOT want to be rich, so that I can learn humility, become a better person and be less arrogant.
  • #13
  • Feb 17, 2013 3:19am Feb 17, 2013 3:19am
Quoting Mingary
I do NOT want to be rich, so that I can learn humility, become a better person and be less arrogant.
I can give you my paypal address so i can help you achieve your goal.
  • #14
  • Feb 17, 2013 3:33am Feb 17, 2013 3:33am
Quoting allisonmagic
Let's face it.. You wouldn't be trading if you weren't looking to hit the 'jackpot' or 'get rich quick'.
Yet another post equating forex with a 'get rich quick' scheme. A skeptic might be tempted to ask which br0ker you work for. But I'm not a skeptic, so I'll simply ask how quickly you believe that forex can make you "rich". Two weeks? Six months? Ten years? And what do you think the probability of achieving that goal is?
  • #15
  • Feb 17, 2013 3:33am Feb 17, 2013 3:33am
Quoting KMidas
My first goal is financial freedom. I want to work by my own rules and not having to worry about finding and maintaining customers, time schedules or the tap on the shoulder while thanking me for all these years of cooperation.

After I reach this goal a image I always have in my mind is me, sitting on a summer afternoon by the pool in my house, sipping martini and my kids/grand kids playing around.
I would like to have enough money not to be dependent on it any more, especially for retirement.

I would like to be rich to alleviate people sufferings i can see when i travel all around the world.
  • #16
  • Feb 17, 2013 3:36am Feb 17, 2013 3:36am
Quoting hanover
Yet another post equating forex with a 'get rich quick' scheme. A skeptic might be tempted to ask which br0ker you work for. But I'm not a skeptic, so I'll simply ask how quickly you believe that forex can make you "rich". Two weeks? Six months? Ten years? And what do you think the probability of achieving that goal is?
10 years with 1000$ = 10M$.

But what is your amount for being qualified as 'rich' ?
  • #17
  • Feb 17, 2013 3:41am Feb 17, 2013 3:41am
Quoting teofil00
I can give you my paypal address so i can help you achieve your goal.
If he doesn't want to be rich, that's not meaning he wants to be poor.
  • #18
  • Feb 17, 2013 3:45am Feb 17, 2013 3:45am
Quoting fx_forever
If he doesn't want to be rich, that's not meaning he wants to be poor.
But somehow he is got to get rid of that richness.
  • #19
  • Feb 17, 2013 3:56am Feb 17, 2013 3:56am
No but seriously... the only reason i want to trade is to finance my University degree, and finance my future inventions.

But not to get rich... for that you need (money+time+skill+no emotions) x luck
  • #20
  • Feb 17, 2013 4:01am Feb 17, 2013 4:01am
Quoting fx_forever
10 years with 1000$ = 10M$.

But what is your amount for being qualified as 'rich' ?
Yes, I'd agree that $10M qualifies as "rich". For me, "rich" is when you can live comfortably off a completely passive income. But I expect that many folk set their sights much higher than I do.

However, the statistics apparently tell us that the probability of succeeding at all at forex, let alone attaining an ROE that's capable of turning $1k into $10M within 10 years, is very small. I just read a reference to a research paper claiming that only 4 traders in every 1,000 are able to string together 4 consecutive winning quarters. If that's true, then it would seem that a better way to "get rich quick" would involve buying lottery tickets.
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