Hi, In today’s live webinar we looked at potential trade setups, including some we have taken already.
We started the session asking the question, are you really ready to step up and make a change?
You need to WAKE UP
Since the COVID crisis began, many things have changed around us. Lots of businesses are struggling or have gone bust since 2020 due to the lockdowns heavily impacting their income. Many folks had the “luxury” in some countries like the UK where the majority were receiving up to 70% of their usual salary to sit at home and do nothing.
It was a perfect opportunity to improve their trading, learn a new skill or plan for alternate incomes after the crisis was over. How many did that? I have my doubts!
What the Covid crisis taught us was that more than ever we need to be prepared to look after ourselves financially and be ready for whatever the future may throw at us.
What will you do if you lose your job tomorrow? Have you ever thought about that?
You need to wake up, stop procrastinating and take charge of your life. Otherwise, you will keep doing the same thing year in, year out.
If you are happy with what you are doing now then having a “just in case” Plan B is still a good idea.
For those who dont like the job they are doing or are worried it may not last, do something about it!
In 2000 I sold a good, very profitable business and emigrated to the Canary Islands when I hit 40.
I was making a lot of money but came to realise that I was sick to death of the hassle of employing lots of people.
I was miserable and life certainly was not fun.
I know now that if I had carried on I would either be on my second heart attack by now or dead!
Instead, I got to spend a lot more time with my wife and kids and live in a beautiful part of the world. However to maintain our lifestyle I needed to find a way to make money, working from home and without employees. Eventually, I stumbled upon forex and the rest is history.
If you are currently unhappy in your working life, even if you are making lots of money then do something about it. If its not trading thats fine, but at the very least make a plan and go for it!
The alternative is doing a job that you hate for the rest of your life?
If you are currently living paycheck to paycheck, working in a stressful environment, being bossed around by your employer, and much more. Only to realize when you are 50 years old that you should have taken some action when you could have done something about it. Then do something about it NOW.
I mentioned that when I recently went to England and also at the start of the year on a holiday, I saw vacancies advertised in most of the shops, pubs, and restaurants. After 18 months of unpaid leave a lot of people don’t want to work. Some have been spoiled as they were used to getting monthly paychecks from the government.
This was the perfect opportunity for most people to take advantage of the lockdown and the money they received to learn a new skill. Did many do that? I have my doubts. Make your time & money work for you, not the other way around!
Ashley finally had the cojones to quit his job this year.
He was getting hammered for the past 4 years by his employer, and was tired and stressed.
He was working extra hours, doing 2 people’s job for 9 months, and not getting paid extra.
Absolutely NADA.
However, it was not an easy task for him.
To quit his job he had to come up with a plan.
Things such as how much would he need to save to survive comfortably for a certain period of time if he wasn’t working. Monthly expenditure including fixed & variable costs. How can he make money else where etc. He will reveal how he did this in a new post in his blog on Thursday. So make sure not to miss it out.
I also explained how one of my other private students who was on a $200k salary per year finally decided to quit his job this month as he had enough. He did this after only working 3 months with myself, Thinus and Ashley. Usually, I expect folks to be able to make the transition within 6 months, but this was a crash course and the gentleman had already made some plans. Also instead of having 12 sessions with me over 6 months he also had weekly sessions with Thinus and support from Ashley.
The first thing I look at with new clients is their current situation, overall goals, and how we might get to them.
He has now moved to a funded account.
However, I did advise him that 3 months is very short to make such a big decision.
6 months is more realistic but YOU HAVE to be 100% committed and ready to change your life.
If you are not prepared and have no plan, you will just go back to your old life and get stuck again and may never turn back.
“Thinking will not overcome fear, but action will.” – W. Clement Stone
The Markets
I spoke about Stagflation which was bought up last week by Ashley in the live webinar. You can check that article out here Signs of Stagflation?
Here is an article from the world bank explaining that the stagflation risk is rising along with growth slowing down.
Powell mentioned that he admires Paul Volcker and might have to act like him. Paul Volcker had a similar scenario in 1980 and he hiked the interest rate to 20% causing turmoil in the markets. Growth slowed down massively and also caused high unemployment rates in order to try and control inflation.
The FED is raising interest rates at a slow pace if you compare it to Volcker’s scenario. But this could affect the US massively. Mortgages have already doubled in the last year, but 5% is bad enough Any higher and a lot of people will lose their jobs & homes. It would be chaos again and severely effect the middle class and poor.
This is a VERY dangerous time financially, do something now, but move forwards:
Elsewhere in Europe the consumer confidence figure was the worst in 20 years. GFK are raising concerns of a slowdown in growth in the EUR.
They also said the inflation is diminishing the purchasing power of private households. If private households are having to spend significantly more on energy and food, fewer financial resources will be available, especially for larger purchases. Setting a Bearish tone for the EUR.
Finally I would stress to make sure to pay attention to the yellow flag news this week. There is a lot of it and could cause market volatility. Analysts know inflation is high globally and might be paying attention to the yellow news to see signs on growth, unemployment or if inflation is slowing down.
There is AUD, JPY retail sales early in the morning, then EUR CPI, unemployment, GBP GDP and much more to come.
We are NOT a “tipping service” our aim is to teach you how to trade for yourself.
We also have a free 14 day course in case you want to know what the course might contain. We are a genuine 5 star rated forex school who teach you how to trade.
You can watch the full webinar session below:
Kind regards,
Marc
