Joshua (Trades and Writes) ♠️♣️@joshfem40
Forex and crypto Trading are destroying your future, and it’s not even about the money you’re losing to the market.
I know you might have not heard this anywhere, but I will tell you today.
And some people might disagree with me, but I won’t force them.
The main problem, however is not forex or crypto, the problem lies in your approach to them.
Let me walk you through the few ways which forex and crypto trading is weakening your future as a youth:
1. Switches off your brain about real life jobbing — come to X, go to facebook, TikTok or other social media platforms, you see traders say “trading or nothing.” But if the stat that only 1% to 10% of traders are profitable, why are you betting all in on being a part of the 10% without having a plan B?
2. You force your brain to believe you will surely be profitable if you study hard — do you think the 90% failed because they don’t study? Because they don’t work hard? Or because they don’t have a mentor? There is a lot more to trading than the hardwork factor.
Go get a job as your plan B and stop being lost in your illusions.
3. Addiction to fast money — many people see trading as a quick route to financial freedom. To them, that’s the only way they can make it since they come from humble backgrounds and securing a high-paying 9-5 job might be hard, if not almost impossible. But the truth is that trading takes time, effort, and dedication.
If you can’t give all of these, you’ll only be stucked in the “I’ll soon make it” illusion.
Most people get lost at this stage without looking for jobs.
4. Financial Losses and Debt — the thrill and excitement that you’ve cracked the code makes you think it’s not possible for you not to be profitable. You borrow money to trade just for you to end up in debt. And the cycle continues without any way out.
5. Neglecting real-life growth — I’ve seen students trade with their school fees. I’ve seen some graduate without any real-life skill, thinking trading would soon start paying in thousands of dollars monthly. I’ve seen graduates giving up on 9 to 5s that guarantee moderate pay just to go all in on trading that is not guaranteed.
6. Mental health pressure — “what if I don’t make it?” “what if I fail?” “when will I even make it?” All these can lead to low-self esteem, stress, and mood swings that pressures your mental wellbeing. Before you realize, you already lost your happiness and you even see it as norms.
7. Isolation — this is a part people barely talk about. Some, after failing, end up isolating themselves from family and friends that they are indebted to.
Some even isolate themselves because they think family and friends that are advising them are doing too much.
I’ll give more detailed explanation of all my points in a narrative and descriptive write up later. I mean, I’ll explain them one by one, one at a time.
Before I round this off… am I saying trading doesn’t work? No!
Am I saying you shouldn’t trade? No!
Am I saying you won’t be profitable? No!
I’m simply saying: go with a plan B.
Don’t abandon a career path.
I hope this helps some people today.
Good morning, crypto and forex traders.💜
