Forex Trading: business owner vs. job owner vs. gambler

You need to change your perspective into a business owner instead of a job owner or a gambler.

6.2.4. Forex trading business vs. gambling.
Ask yourself, what you think about Forex Trading, do you perceive it as a business or gambling and why. It is hard to differentiate between trading and gambling; many Forex traders said they are doing business but they actually approach it as gambling, and they do not realize it.
Be honest to yourself. What you perceived of trading Forex is very important. It will be the foundation of how you will approach the market and create your own trading system. You will have a completely different trading system if you trade Forex trading as a businessman or as gambler.

To me trading is a business. Let me tell you the main differences between business and gambling.

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Expect to double your money in a short time vs. Expect to grow your money in a steady and long term perspective.
There is no real business in this world that will give you 10% return in a month unless you highly speculate and gamble.

You have to predict the outcome in order to win vs. Whatever the outcome is, you plan to maximize profit out of it.
When you sell your merchandise or service, you will never predict which price your customer is going to pay. You set your price; I want to buy at this price and I want to sell it with x% of profit. If the price is too high for your customer, you cut your profit or wait to sell it later at the correct price until it is sold. But never sell at a loss, until special condition warrants you to sell at a loss. And you do it very rarely.

Lose some win some regularly vs. Always strive to sell with profit, very rare to cut loss.
When you have a business you will not sell your merchandise at loss regularly! No businesses will survive if they have this practice.
If you have a hotel business, do you cut and sell unoccupied rooms? When you have a farm, do you cut and sell your chickens that have not spawn eggs?
If there is a trading guru that claims he regards Forex Trading as a business but his trading system has a characteristic of win some and lose some, then he is completely wrong. Either he does not know what a business is or he is just stating it without foundation.

Set your mind that:

1. You are going to grow your money in a steady and long term perspective.
2. You will not try to predict the direction of the price will be in order to make money.
3. You always seek to close your sells with profit.

Then you will have a trading system that will last for a very long time and profitable.


6.2.5. Forex trading business owner vs. job owner.
If your business is very dependable on you both mentally and physically, then you own a job, not a business. A good business should be able to make its own profit without too much depending on you both mentally and physically.
Here are some symptoms to tell you that you own a Forex Trading job:

1. You need to make an analysis and a decision whether to enter or to exit the market every time.
2. You need to monitor the market every time or for a very long time.
3. You carry and check your laptop, tablet and smart phones anywhere anytime ;-)

Change your perspective and you will have a completely different trading system. Say to yourself that what you want is not another job but a business. Create a trading system which:

1. Can generate passive income. Money is the one working to make income, not you.
2. Can give free time for you to do whatever you like and to pursue other businesses.
3. Is simple to do, so that it will become a lifetime business skill that you can do it even you get older and weaker. Day trading especially scalping is very demanding. You need to monitor multi time frame for many hours daily. It is very stressful, and it is sucking your soul out of your body. You need to be physically healthy to stay focus. Can you still do it when you are 60 or 70 years old? I have been in these situations before, and I could not stand more than 6 months.

Cheers,
Henry Wirawan, MBA
OctaCapital.Net - Forex Trading Built To Last.

Link to lists of useful articles by OctaCapital.Net at Forex Factory.
Completely Free Download of OctaCapital.Net - Forex Trading Built To Last - Book 1 Metanoia (Paradigm Shift).pdf

Awesome writing skills

Thanks Taha for the encouraging compliment. Stay tune for other articles by OctaCapital.

Cheers,
Henry

OctaCapital June Mentorship Program is open.
Seats are limited.
Please register ASAP.
10% Disc for Forex Factory member.

Two thumbs up to this!

We've got another FXKeys.com type Commercial Member that figured out he can spam the actual ForexFactory Forums home page by creating new threads one after another.

Those threads I created are completely different topics.
What do you suggest then?

Henry

Maybe ask FF what the proper etiquette is when seemingly-strategically coming up with 42+ new topics/threads each week with an underlying objective to advertise.

My thoughts are, this is ForexFactory.

It would seem we as Commercial Members should treat this #1 site and the high quality referral traffic it provides ... with the respect it deserves.

OK thanks,
Let me check with the moderator.

Henry

Whats makes you so different from other scammers and gurus ? With a 2000 dollar tab y looks to me that your goal is to make money of what ever that you teach that its not already for free in the net. Thanks but no thanks

Quoting tantor1973

Disliked

Whats makes you so different from other scammers and gurus ? With a 2000 dollar tab y looks to me that your goal is to make money of what ever that you teach that its not already for free in the net. Thanks but no thanks

Ignored

That is a good question.

These are what you will get for free:

 

1. To set a high return target by using very high leverage (usually more than 1:100).
2. How to predict using fundamental analysis, technical analysis, magical indicators or black box system.
3. How to cut loss if the prediction is wrong.
4. How to manage capital in order to survive longer if the prediction is wrong. Usually they will tell you to risk 1-2% per trade.
5. How to manage risk reward.
6. To be discipline and have an iron gut mentality (always take the next trading opportunity regardless of previous loss).
7. And of course you can get my free e-book, which contains my knowledge and my principles of Forex Trading. Base on my free e-book you can design your own system, and you do not need to take my mentorship program. But, if you take my mentorship program, I will show you the shortcut, thus you will cut your learning time and expenses tremendously.
   

My mentorship program is way too different from the others, just like day and night. I will teach you:

1. How to trade in a very safe way by using low leverage (less than 1:5).
2. How to achieve 100% winning ratio by using low leverage (less than 1:5).
3. Multiple trading systems with different target returns that are based on risks (Low risk and medium risk trading systems).
4. How to make profit without prediction.
5. How and why to not use cut loss.
6. How to manage your initial capital, how to re invest, how to diversify and how to manage risk.
7. How to manage risk-reward-probability.
8. How to acknowledge, manage, minimize and eliminate general risks associated with Forex Trading.
9. How and why you will be a stress free trader and do not need iron gut mentality.

And more importantly that I will teach you:

1. The good and the bad of Forex Trading business. I will not sugar coated the good part nor I will hide the truth about the bad part of Forex Trading Business. Therefore, in the end you can decide by yourself whether you want to pursue Forex Trading Business or not.
2. Why and how you need to change your paradigms approaching Forex Market. Paradigm shift is the first step to be a successful trader.
3. How to choose a good business opportunity. You will have a clear understanding why you trade and why you choose Forex as your business.
4. How to create a passive income system, not a trading system that will enslave you.
5. How to calculate how much capital needed. And I also will teach you different kind of leverages and how to use proper leverage. Enough capital and proper leverage are the main keys to be in the Forex business for a very long time.
6. Different kind of costs associated with Forex trading. You will know how much operating costs per trade will be.
7. Different kind of risks involved, both risk directly related to trade Forex and indirectly.
8. Trading elements and how to use each element to increase your return.
9. How to fish; how to create your own system. I will teach you everything so that you can create your own trading system. And you will not be dependable on me.
10. My trading system very simple and clear. It is like buying a franchise system. You will get a step by step manual and checklist.

These are the main differences between my mentorship program and others:

Of course my intention is to make money, to do business with you. You give me money for the tuition fee, in return I will teach you and hold your hand for one year or whatever it takes for you to master my program. I will accompany you through the knowledge learning process, demo trading process and live trading so that I can be sure that you will be a consistently profitable trader. And I will guarantee that if you do not make any profit and grow your account balance for one year, I will refund your tuition fee.

It is not good from my business point of view if I want to fool you or others. If I do not deliver what I promise, for sure you will complaint and bad mouth about my company everywhere, and definitely my company will have no future.

It takes something to make you or others to believe me. That is why I give my first book completely free. From my free e-book you will know my principles and my perspectives approaching Forex Trading. Either you agree with me or not, I can not make you. It is your decision.

And hey, as a member of Forex Factory you are entitled for 10% discount this month. Now the tuition fee is 1800 USD not 2000 USD anymore.


Cheers,
Henry

I have sent email to FF on June first, and still no answers from FF until today. I also checked Commercial Code of Conduct for commercial members. I believe I have not broken any rules so far.

Henry

No of course there are no technical violations. I mean look at the absurd FXKeys.com example given. Your pace is about equal.

The point is, just because we can creatively-spam and get away with it ... doesn't mean we should

This isn't worldwideinvest.org, indo-investasi, or Carigold. This is the #1 Forex site in the world.

I have emailed and asked FF the proper etiquette, but there is no answers back so far. Could you help me to ask the moderator about this.
I do not intend to "creatively spam" at all. I can not put everything under one thread. Only the top post of a thread is editable. And if I put everything under one thread, it will be messy.
Don't worry, I do not have 400+ articles to be shared. And I won't post general knowledge that has been posted before.

Henry

I hear ya

I think I am really at fault in associating you way too much with FXKeys.com. But when I saw your big block of like 5-6 threads all together, well you know.

If you were an obvious spammer like FXKeys.com:

1. Create an all-in-one thread with a maintained title post
2. Just 'Reply Thread' and just include snippet
3. This will bump it towards the top of the list
4. Allowing adequate Passive discovery
5. Aggressive Advertising is what Google AdWords is for
6. Rather than punishing the #1 Forex site for its good deed
7. Rather than punishing fellow commercial members

@Wyfx

I do not like to be spammed, that's why I do not want to spam others too.
If somebody goes to my web site, they can download my e-book completely free. I even do not ask for any emails in order to download my e-book.
I am here to give something back to the communities by putting articles that I hope can change the mindset of traders so that they can be low risk and consistently profitable traders.
My free e-book can be a guidance to develop low risk trading systems even without my mentorship program. Of course I can not give everything that I have worked so hard to accomplish; my mentorship program is the way to cut your learning process and your expenses.

Henry

I understand .... good luck henry

Thank you for your understanding and for your wish.
I'm so glad that we end up fine and not "killing" each other like somebody else in other threads.

Henry

But again I was the one out of line. The sarcastic, $hitty tone of my first reply was just wrong.

Don't worry about that. I'm OK so far

Cheers,
Henry