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Understanding how to trade forex online successfully is an important component to becoming wealthy through forex trading. But there are also certain things you need to know in addition to just trading profitably. Today I’m going to share you a lesson from the ultimate success bible from Napoleon Hill called “Think & Grow Rich.”
Classic Success Literature
Think & Grow Rich is probably the most popular book on becoming wealthy ever written. It was originally an idea that Andrew Carnegie had for a young writer named Napoleon Hill to interview the wealthiest people of their time and discover the secrets of their success.
But what does Think & Grow Rich have to do with Forex trading?
The Importance of Specialized Knowledge
One of the key traits of wealthy people was that they all contained specialized knowledge. Only by knowing something that “not everybody else knows” can wealth be achieved. In the forex trading world approximately 98% of traders lose money. To be in the top 2% of profitable traders, you need to have “specialized forex knowledge.”
But specialized knowledge of forex isn’t enough, you also need the power of the mastermind…
The Mastermind Principle of Wealth Creation
Another key component of the “Think & Grow Rich” wealth creation formula is the mastermind. A mastermind is when 2 or more minds come together to produce a greater benefit than if they had worked separately.
You’ve probably heard that 2 people working together can do the work of 3 men or more working alone. This is the mastermind principle in action.
For forex trading a mastermind involves learning from a real trader. The only way to learn how to trade is to learn from a trader. This makes perfect sense. Doesn’t it?
A Burning Desire for Forex Success
I actually went out of order. This was the very first principle in “Think & Grow Rich.” Without a burning desire for success in anything, whether it be online forex trading, losing weight, or finding a romantic partner, you will only stand a meager chance of success.
By having a burning desire & committing to success in trading, you’ll ultimately guarantee your success. This won’t happen until you decide to devote yourself to achieving your goal. If you want to be a successful forex trader, I can certainly teach you how…but you’ll need to look at the charts & find the trades yourself. Nobody will do it for you…
I highly recommend that you read “Think & Grow Rich” in it’s entirety. You can buy a copy at any bookstore, it’s a classic.
If you want to learn how to trade forex successfully, check out the “Forex Freedom LIVE” online forex trading course to learn from a real life professional currency trader (me).
I might be the laziest Forex trader in the world. It’s been awhile since I had to work for money, because I’m a forex trader. After working a few weeks at 2 hours a day, I can take a month or two off if I want to. I frequently do so. This is possible because I not only trade forex, but also manage my money properly (read my post “What to do with Money so You Get Rich” for the full plan I follow)
How Can I be such a Lazy Forex Trader?
I simply follow the Forex Sailing trading method, which I teach on the rapidforex.com website. By following this trading method for the past few months, it allowed me to totally goof off in Maui for an entire 2 weeks for my 31st birthday.
Snorkeling off the coast of Maui
The highlight of my spontaneous 2 week vacation was a snorkeling trip to the island of Molokini, off the coast of Maui. We went out on a glass bottom boat to a location with 50 foot deep crystal clear water & swam with tons of tropical fish and sea turtles. After a few hours of snorkeling, we enjoyed a deluxe BBQ on the ship with an open bar. It was tons of fun!
2 Weeks Without Trading Forex
For the past 2 weeks, I didn’t open a single forex chart. I completely took off from trading because I wanted to celebrate my birthday & my brother’s together before he moved to Texas. During this time, we circled Maui several times on our mopeds, went hiking in tropical rain forests, went to nightclubs at night & just had fun!
Living to Trade vs Trading to Live
Although forex trading online is incredibly interesting to learn and can be incredibly lucrative, once you know how to do it, it’s actually kind of boring. I place trades so I don’t have to work at a regular job. I’d much rather be out snorkeling on the reefs of Maui, cruising on my moped, hiking in the bamboo rainforests, or doing whatever I feel like doing.
I actually get to the point where I have “enough” money and lose my motivation to make more. I can do whatever I want, whenever I want because I trade forex. I normally do this with 20-60 minutes of looking at charts daily. 3 days out of 5, I don;t even have an active trade placed.
Having fun in the sun is simply what I like to do. Other people enjoy doing various activities such as golfing, skiing, cycling, travel, spending time with their family, and a million other things.
What Do You Want to Do?
In my early 20′s I was making over $1 MILLION a year. I never took the time to think about what I wanted. I chased money for money’s sake. I ended up working really hard, but never “getting there.” Now I do whatever I want and have more than enough money to do everything I want to do. I can teach you how to trade forex in 75 minutes, but only you can decide “What do You Want from Forex Trading?“
Today marks a special occasion for me. It was 7 years ago today that I officially began teaching forex trading online. There’s some interesting lessons that I’ve learned since then…
My Start With Online Forex Trading
I got involved with online forex trading in 1997 when I got a letter in the mail explaining that for the first time ever it would be possible for average people to trade forex. Before 1997, only banks could do forex transactions. I was previously interested in stocks, so I started applying those ideas to forex.
I played around for a few years. I went to college & majored in math. I learned a lot about forex, but very little was published at the time.
On August 11th, 2003 I registered 4xtrend.com. I had already written a manual on how to trade forex a few months earlier simply called “Forex Education Manual.” The eBook was an instant hit. I sold about 100 copies the first month, and ended up selling over 10,000 copies of it before retiring it for more updated forex trading methods.
Back in 2003 there were very few websites teaching Forex. I was one of the original 3-5 sites that had any type of course teaching forex trading. Jared Martinez from MTI was one of the original forex trainers, but this cost around $2,000. Peter Bain from Forexmentor.com had been around for about a year when I got started. I was basically the third forex trainer online. I looked for others, there simply weren’t!
An Ugly Website
I didn’t know anything about web design, so I decided to make the website myself. Although this site got a daily scathing criticism for poor design, it sold HUNDREDS of copies of my forex trading manuals each month. Here’s a screenshot of what the website looked like:
Rapid Forex is Born
4xtrend.com looked like this for 2 years. On October 13th, 2005 I changed from 4xtrend.com to rapidforex.com. Since then, Rapid Forex has taught HUNDREDS Of THOUSANDS of people how to trade forex online. The Rapid Forex Supreme Trader Package sold THOUSANDS of trading packages for $597 each.
Online Forex Trading Legacy
Today there are THOUSANDS of online forex trading websites. You can easily get lost with all of them. I got into this industry at a great time. I’m proud of being one of the pioneers of online currency trading. Although it’s only been 7 years, it’s practically the entire history of forex trading online. It’s kind of like dog years, I’m a grandfather for online forex trading.
I’m enjoying forex trading now more than ever. There was a time when I was burnt out from it due to bad business partnerships & naive attempts at managing a multi million dollar business. I’ve learned lot about trading in the past 7 years & I’ve got more wisdom to share now than ever before.
Many readers of this blog can remember 4xtrend.com. If you’re one of them, I thank you for hanging around since those days. If you’re new to this website, I look forward to sharing an even better next 7 years with you!
My new mission is for you to be able to Live the Fantasy Life of a Forex Trader, like I am now. Forex trading has changed my life forever. It brings me great joy to share it with you on this website