Most humans are super focused on how much they can make, how fast it will come, and how they intend to spend it. In some cases, that is, if you are like me. Sometimes I may even fantasize about the house I intend to buy with the profits if that profit comes in. While envisioning all these is fine, the problem comes in when you overempahsis on the profit and overlook the risk involved. No matter what it may be, there is surely risk involved; all that matters is how much the risk is.
It does not matter the financial instrument involved, there is some kind of risk involved, and understanding the risk is as important as knowing what you ar putting your money into. This will allow you to know how much you want to get involved or what you intend to put up. The best financial tip that can work for anybody is putting up what you are risking, which is the most important thing of all to understand when investing.
Then there is the human emotion as a factor that can be as deadly as not understanding the risk involved. It is hard to say that there is a simple guide to solving every financial constraint you will encounter in your life, rather than a single book that tells you all. The best you can get from these books is guides, and in the end, you have to do your research on what works for you. I know there are books out there about finance, but only a few tell the truth that the idea of money and the concept around it all boils down to a product of individualism. It is all about the human being who is involved, and that is just it for me. You still have to understand your lifestyle and what you are costing, which is what determines how much you can invest and spend.
Do not get carried away by the success of some people and the flaunting of wealth by many on social media. The blueprint does not work for all, and it does not mean that if this person made it by doing this and that, you can also do this and that. Look at the unfair advantage that the person has and the underlying factors that contributed to their success. You will be shocked that the success of many of these people who flaunt wealth online was paved for them, but they do not talk much about that, so it seems that they are self-made.
The ones who are self-made are not out there flaunting the wealth to get you to buy a course or join their team of wealth builders. They are busy making innovations and investing their wealth silently that are not spoken about unless you do your research yourself. Ask yourself why is it Elon Musk is busying building a vertically integrated business for his company, where one business can serve the purpose of another. Instead of outsourcing, he wants to control the entire chain of the business, until it gets to the final consumer who pays. Look at these things and do not get carried away into thinking it is by joining some prop firm, trading team, or signals. Go out there and do your research; the wealth you seek is in the ideas you are afraid to explore simply because you are not ready.
I am @samostically, a chess player and writer. I love to share the experience I have gained from different battles over the 64 squares and the knowledgeable insights from books I have read. But most importantly, I am a Midnight Owl and I founded the community Midnight Letters.
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