Let’s make it a million euros! Or dollar if you prefer!
Everyone wants money, everyone wants million dollars accounts, everyone wants Lamborghinis and yachts full of happy and nice young ladies. Well almost everyone, maybe the girls don’t. I dont know.
Anyway back to reality, how do you build a million dollars account?
Let’s try to create a list of ideas to reach our goal. Let’s start dreaming with a look at the practical side.
Boom!!! We win the lottery!!!!
Or no…
First we need to do the math. If we work we need to see how soon we can reach this figure with the earnings from our job, obviously taking out taxes, expenses, mortgage, vacation, etc.
If we don’t work, well we’d better look for a job first.
After that we have to find a way to grow our money in the bank, so we have to start investing. But before investing, we need to study.
So let’s read all the CyMood articles and watch all the videos.
Now that we are less stupid we can start putting some money in the market. And now comes the hardest part.
We have to change our mindset, we have to operate on our emotional side. We have to accept that there will be painful losses, financially speaking. We have to understand that we will experience bad times when our investments will be into the negative zone, written on our screen in a blood red color.
But here we will have to believe in ourselves and see ourselves in a much better future than we have now. This vision serves to stimulate and push us to do better and not let us get depressed.
We tell ourselves a little lie, only to fool our brain to push us where we want to go. It is something difficult and uncomfortable for us but it has to be done.
The emotional part is the most difficult side. You may know the theory just fine, but your actions will always be driven by panic, greed and fear of losing your money. You must make sure that these emotions are kept silent in your soul in order to approach problems without emotions. Turning big problems into smaller ones.
Emotion will kill your trading account.
And always remember to use stop losses.
Another element that must never be lacking is Patience.
Patience is the basis for everything. Wanting everything right away is useless,as well as impossible.
Studying is fundamental, giving yourself time to learn is the basement of success.
Patience and study create a tool that is fundamental. The ability to adapt. Capacity that is given by the perception of the market and what goes around it.
You cannot expect to make money if you do not understand the environment in which you operate.
Adapting therefore means improving yourself. And improving yourself is another key element. The more you grow, the more capable and good you will be.
After that you will have to be judicious and disciplined. Discipline will help you through all your phases, from the best to the worst.
You will also need luck. It is undeniable, but often what others call luck is really just the result of a lot of hard, stressful work done behind the scenes to make sure you are in the right place at the right time. Remember that you see the road you have traveled, while others see only the end result.
The road you have traveled is the real goal. Not the money.
You have come a long way, changed for the better, and developed skills and knowledge that you did not have before. The money is the logical consequence.