My feeling of being wealthy is based on time. The feeling of wealth equals most of all to the feeling of wellbeing over a sustainable amount of time. Therefore, one of my goals is to define my Forex trading as a stream of income and include it in my wealth building plan. The goal is therefore not only to include Forex as a stream of income. The over all goal is to use it in a plan to both build and feel the essence of wealth. To grow the feeling of wellbeing and precense for myself.
As a professional Forex trader it is easy to see the potential in a good performance. Therefore, one can easilly assume that the purpose for any Forex trader is to make money. However, money does not equal wealth. Your wealth is defined by the size of assets over time. Therefore, the major question is, should you want to include your Forex strategy when growing wealth, “is your trading consistent enough to become a stream of income?”. Furthermore, should a Forex trading income be the only source of income? Diversification is the key; Both when it comes to income streams in itself and re-investing into your wealth strategy.
The second pillar for my wealth building plan is based on experiences in life. One thing is that long term suffering is a gift. It learns you that not everything in life is for granted. More importantly, it learns you the value of having sufficient substance in life. It gives you a better perspective of respecting money. Sufficient downturns in life has definitely teached me the value of creating freedom through my own abilities. In my own sphere, this is as close to the definition of wealth as I can come. My own private true wealth!
The old principle of savings should be well know for most people: “Never use a dollar until you have earned two.” On one hand it is very much true. On the other hand, building wealth might be a bit more complex. However, I have made a few definitions for myself. How much assets do I desire to keep to build and support my lifestyle, is the first one. The second definition is; How do I re-invest the performance back into my own trading strategy? Furthermore, the old saying about “putting all eggs into one basket” applies. Therefore, should several mandates be introduced and under what risk? Lastly, but perhaps most importantly; How can I use my assets to create more income streams for myself?
The sense of bringing a Forex trading strategy into brand new perspectives is suddenly there. By building a personal wealth strategy you suddenly have the perspective of letting Forex trading build wealth for you. In my own opinion, the sense of freedom and wellbeing is likewise important than money. Thus, it is an old cliche that “money is not everything”. By meeting people at rock bottom, then money is really (almost) everything. However, the focus is on building and spending from now on. The focus is on letting the income-streams rapidly exceed how I want to support my lifestyle.