“When the why gets big, the how gets easy!“. Those are the famous words of Jim Rohn. In short terms these words should define what you wish to achieve based on your trading strategy. How do you desire to design a Forex trading lifestyle? Furthermore, how high is your passion to develop your market abilities into something more? Are you satisfied with what the trading strategy is giving in itself, or will you use it in your hunt for more success? As some of the worlds greatest visionary people say; the limitation is only in your own mind!
If you have decided where you want to move with your trading, then the answer is yes. Indeed, why not? If you are confident in your own trading strategy, then you are also able to utilize it to the outmost extent. The next question is therefore, does the performance of your trading strategy meet the highest aspirations in your life? In many cases we would expect the answer to be no. To the worsest extent it might be because a real narrative for money is present. If so, it is even possible to explore what concepts like greed can do to people. Therefore, a two-sided solutio could be considered.
In the first place, return to the development of your trading strategy! A consideration from other angles might bring new aspects of increased profitability. Increasing the number of entry- and exit points is the key. If it suits your level of risk, then you will eventually manage to make your trading strategy more profitable. In the second place, consider how your highest aspirations can be reached over time. Any lump and sudden sum of money can be gone tomorrow if it doesn’t meet the current level of liabilities. Therefore, we need to rephrase the question into the following: How can you reach your highest aspirations by building real and true wealth over time? It is a far better question than above and definitiely reachable for anyone who wish to work hard for it.
To be rich is defined by how much money you have. Making a good performance in the Forex market can give a sudden amount of money. However, if the short term liabilities is higher than any sudden income, the Forex trading lifestyle can be rather short. On the other hand, wealth is defined by time. For example, if 1 million dollar has been made in the Forex market and the liabilities are 100K dollars monthly. Then the wealth is 10 months. In this way; your wealth is defined by how much assets you have available over time without working. It is therefore time to take the step further, from your trading strategy and how it can be continued into your private welath building plan.
Some very simple questions should be made. The first is; how much money would you like to have every month in order to support your lifestyle? Second; does the trading strategy create a performance on this level? If the answer is no on any of these questions, adjustmnets must be made. You either need to reduce your expectations of the income-stream or reduce the performance of the trading strategy. In either case, the point is to support your lifestyle with less than the strategy performance over time. The next step is to reinvest the remaining sum back to your trading strategy. Naturally it will increase the assets over time. Over time it is also a good idea to look into a further diversification of your assets. Potentially you cna then establish more than one income stream, which is good for stability and consistency.