Who does not want to make money fast? Most people I know, want money, and preferably they want it fast. I want that too!
Problem with wanting money fast, is that it can drive one into do stupid things with your allready hard earned money.
I had a little epiffany regarding this that I wanted to share. Maybe this can help you to keep your mind straight too.
The car race:
Say you have 500 dollars.
Imagine a fast money-opportunity rises. A car race. There is 100.000 dollars in prize-money.
So you say, okay I'll try to win that money. You buy a little Fiat Punto for 500 dollars and enter the race.
Quick forward: Fiat Punto does not make it through the first corner, but heads into the forest making the car a total wreck.
You now have 500 dollars less in your wallet.
So why does this happen?
The risk involved compared to the prize involved was not calculated, or badly calculated.
By focusing on the prize, the risks were forgotten and the chance of winning was left to "being lucky".
The possibility of loosing was left to the statistic-probability of something like theese questions:
- Will you as an amateur beat a pro race driver? Not very likely.
- Will a crap car beat a pro-trimmed racing car? Not very likely.
By doing theese things, you ensure that your chances gets bigger to win:
- Get the right training (you have to drive like a race-car driver, so you probably have to find out how a pro does it)
- Get the right tools ( if your tires are shit, you can't control the car in high speed)
So here is my conclusion:
You want a black belt in martial arts fast?
-See an instructor , figure out what you need to do, then train.
You want to be a successful trader:
-Talk to someone who has the proven skills to make money trading and talk him into teaching you.(Before you throw your money into the pockets of the pro-traders)
Sometime the shortcut is to do it right from the start. Hopefully someone can make use of what I wrote here.
Best regards.