Slow and steady wins the race

Grandville_tortoise
Well another year almost over. I have again had a profitable one although choppy in places.

2015 has been a year of study for me personally. It was part of my overall plan for the year. I wanted to take a closer look at myself and where I could improve as a person as well as financially.

I have read lot more books this year that have focused on for a better way of putting it “the science of becoming rich”. This is not only for my benefit, but also for friends, family and readers of the blog to benefit from what I have learned.

I have also looked at numerous ways to increase my income from trading. I am still of the opinion that there is no better way to trade the markets than long term trend trading. But again I have focused studying this area as it is of genuine interest to me. Plus many readers of the blog will benefit from what I can relay to them (hopefully)

The common problem with trading is that it is not a get rich quick scheme. New traders just don’t want to wait for profits and trades to mature.

For that reason I have been looking at options that will generate faster regular profits over 30-60 days that you can then reinvest or pay yourself with. Then you can use a longer term strategy like the Vince Stanzione system without getting impatient. The way to do this will be combining with fixed odds financials. More on this will be coming very soon.

Bookmaker Bonuses

The bookmaker bonuses still keep delivering and always make me laugh for some reason. Its shoe money and risk free and although not big profits it will add up. [and it really does buy my shoes]. It’s a girl thing…

I’ve also been fortunate to test a new system from Mike [the author of bonus bagging] that you should also add to your arsenal in 2016 and I’ll send information on that in January.

Something else that I have been testing is a racing system and a football betting system that you can start with a few hundred quid and that will safely, slowly and steadily build your bank from year to year.

This time frame of year to year may again not be appealing to you all, but the method is statistically sound and has been running for almost 10 years. It works and is proven but I still wanted to test it out to see for myself and see how easy it was to use and so on.

After my test I’ll publish the results and let you decide for yourselves whether it’s for you or not.

Traders from all walks of life

I went to the business show in London at Olympia at the beginning of the month. I chatted with a lot of people as well as Vince Stanzione. But one of the most inspirational things I saw that really hit home to me was whilst I was watching Vince’s presentation.

Vince was doing a question and answer bit at the end of his talk and a guy asked Vince if he could say a few words.

Now this guy was around mid-50’s wearing jeans and a leather jacket. Almost scruffy like Hugh Fearnley Whittingstall in appearance and I really do mean that in a sincere way.  And I’d say of a Caribbean nationality.

But this guy was a successful financial trader… it was amazing, and he had the courage to stand up there and say how his life had been changed by trading. He thanked Vince for all his help and then encouraged people to try it out for their selves. I was so chuffed for him.

It just goes to show you that people from all walks of life can and are making successful traders.

 

Have a plan in 2016 to get financially secure in 5-10 years.

There’s no quick and easy route to wealth and financial security. I recently read the book “Slight Edge” and this quote from it sums up so many peoples attitude towards getting rich.

You already have the skill, the confidence. You already have everything you need to achieve everything you want. You just can’t see it.

Why not?

Because you’re looking in the wrong place

You’re looking for the breakthrough, the quantum leap. You’re looking for the winning lottery ticket in a game that isn’t a lottery.

Taken from Slight Edge by Jeff Olson

I used to be just the same but have started to realise that in some areas I need to slow down to make faster progress.

The book itself is not a bad read and it has some good points and some fantastic information on how to apply the power of compounding to your daily life for success. But it is very repetitive, or at least I found it so. In saying that, it has made me consider everything in a slight edge way; much like “The Richest Man in Babylon” has done.


I also listened to Darren Hardy’s “The Compound Effect” I don’t listen to that many audio books as it happens but I’m trying to get into the habit. I found this to be better than slight edge even though I wasn’t reading it. Ideally you should read them both.

They really can teach you the finer details of how to become rich slowly at first but compounded over time the results are amazing.

Taking this approach to financial security will produce a much better long term result as you will also be learning to look after your investments along the way.

This is something that lottery winners are not competent at, and that’s why most (70%)  find themselves broke again within 7 years.

It’s the same as footballers according to statistics… 40% of professional footballers are bankrupt within 5 years of retirement.

So getting rich quick is not quite all it’s cracked up to be for the majority it seems. Reminding yourself of this can have its rewards.

 

You’ve got plenty of time to make it to the top

The first person to live to 150 is already alive today

We are living longer and that’s a fact. So even if you’re 40, 50, 60+ you’re really not that old. So slow down and concentrate your energy on longer term goals.

If you are serious about becoming a successful trader or even improving your life in other areas, don’t rush it. Take it easy and don’t be so hard on yourself. Read and learn from the books above. Learn how to use time to your advantage and not limit your achievements to your current age.

If you continuously compound your achievements, however small they are, eventually time will make the successes for you.