Many people have an erroneous misconception that you need a lot of money in order to succeed at trading. Nothing can be further from the truth. You don't need a lot of money to make a lot of money. What you need is the right approach and the right trading strategy.
You must have heard or read a lot about George Soros. George Soros is famous for breaking the Bank of England in the early 1990s when he successful speculated on the devaluation of British Pound and make a nice $1 Billion in a few days. But have you ever heard about Bruce Kovner? Bruce Kovner started trading the forex and the futures market in 1977. He did not have money. So, he used his credit card to fund $3,000 into his trading account. Over the years, he became of the richest man in the world. His net worth is around $11 Billion now.
My purpose of narrating this story was that you don't need to have a lot of money to make it big in the game of trading. What you need is just a few thousand dollars and the right approach and the trading strategy. What you need to learn is to make more winning trades as compared to losing trades. This brings us to the subject of risk and money management in trading. Something that gets ignored by most new traders who learn it the hard way by burning their fingers and losing a big amount. After that they never lose sight of the risk control system that comes first in trading and only than profits come. With good risk controls in place, you will emerge a long term winner in the game of trading.
You will have to learn the art of surviving in the market long term. With more winners and less losers, your account will keep on growing. Suppose, you set the goal of growing your account by 50% each month! What this means is that in a year, your account will grow to around $130,000. Starting with $1,000 means that you made $130,000! Do the math yourself. This just illustrates the power of compounding.
Now 50% ROI is not bad. But what about 100%. Can you di it? I know people, who can achieve 1000% ROI. So suppose, you make 100% ROI. In that case, within 1 year you will have grown your $1,000 into $1 million. Not bad, huh! But, it will only come if you know risk management.
This is exactly one Hoosain Harneker from South Africa did! He had no money, not even $1,000! So he kept on practicing on his demo account while working to make $1,000. In a few months, he consistently doubled his demo account three times in a row. Now, he had the money too. He started trading live and became a millionaire in one year. You too can do it with the right approach and the right method in the forex market!
Monday, 4 January 2010
All Jobs are Important in God's Kingdom
In order to survive and to provide for our families, we spend a significant amount of time at work. Many of us are working to pay off credit cards and other debt.
In fact, work has been around since the beginning of creation. As mentioned in Genesis 2:15, Adam worked in the garden of Eden.
But God was a gracious God, and work was not difficult for humankind at first. Work changed after Adam and Eve succumbed to the serpent's temptation. (Genesis 3:17-19).
Work is expected
Nevertheless, God expects us to work. It is mentioned in both the Old Testament and the New Testament. In Exodus 20:9, the Ten Commandments instruct us, "Six days you shall labor and do all your work." (NIV) Paul reinforces it in his letter to the Thessalonians. In 2 Thessalonians 3:10-12, Paul reminds the Thessalonians of the rule, "If a man will not work, he shall not eat." (NIV)
Unfortunately, many of us are not happy with our present jobs. We need to look to the Scriptures to help us find satisfaction with where the Lord has us at this point in our lives.
We need to remember that although we may have bosses or supervisors at our workplaces, we really work for God. Colossians 3:23 tells us, "Whatever you do, work at it with all your heart, as working for the Lord, not for men." (NIV) If we imagine God as our boss, we might all approach our jobs differently.
We are expected to work hard. The Bible is full of references to the benefits of hard work. Proverbs 10:4 and Proverbs 14:23 say that hard work brings wealth. Proverbs 18:9 equates laziness with destruction. In 2 Thessalonians 3:7-9, Paul said that work keeps us from being a burden to others.
Equally important
In performing our work, we should remember that there are no small parts in God's Kingdom. As mentioned in Ephesians 2:10, we have all been chosen by God to do different tasks, and they are all equally important.
This concept not different in our daily professions. A CEO's job is just as important as a custodian's job. A corporation could not function properly if either position were left unfilled. Don't look down upon yourself or your job because it may not be considered glamorous by society's standards.
We can never forget that we are not in control - God is. He is in control of our successes at work. In Genesis 39:2-5, God made Joseph successful in Egypt. Joseph's master and his household saw prosperity because Joseph had God's favor.
God controls our promotions, as well. Psalm 75:6-7 reads, "No one from the east or the west or from the desert can exalt a man. But it is God who judges: He brings one down, he exalts another." (NIV)
It is perfectly fine to set goals and to make plans for our lives and careers. God doesn't want us to just sit back. But we should be prayerful about our goals and decisions. We should make sure that our plans are in line with God's purpose for our lives. Only then will we see the results we expect. As Proverbs 16:3 instructs, "Commit to the Lord whatever you do, and your plans will succeed." (NIV)
In fact, work has been around since the beginning of creation. As mentioned in Genesis 2:15, Adam worked in the garden of Eden.
But God was a gracious God, and work was not difficult for humankind at first. Work changed after Adam and Eve succumbed to the serpent's temptation. (Genesis 3:17-19).
Work is expected
Nevertheless, God expects us to work. It is mentioned in both the Old Testament and the New Testament. In Exodus 20:9, the Ten Commandments instruct us, "Six days you shall labor and do all your work." (NIV) Paul reinforces it in his letter to the Thessalonians. In 2 Thessalonians 3:10-12, Paul reminds the Thessalonians of the rule, "If a man will not work, he shall not eat." (NIV)
Unfortunately, many of us are not happy with our present jobs. We need to look to the Scriptures to help us find satisfaction with where the Lord has us at this point in our lives.
We need to remember that although we may have bosses or supervisors at our workplaces, we really work for God. Colossians 3:23 tells us, "Whatever you do, work at it with all your heart, as working for the Lord, not for men." (NIV) If we imagine God as our boss, we might all approach our jobs differently.
We are expected to work hard. The Bible is full of references to the benefits of hard work. Proverbs 10:4 and Proverbs 14:23 say that hard work brings wealth. Proverbs 18:9 equates laziness with destruction. In 2 Thessalonians 3:7-9, Paul said that work keeps us from being a burden to others.
Equally important
In performing our work, we should remember that there are no small parts in God's Kingdom. As mentioned in Ephesians 2:10, we have all been chosen by God to do different tasks, and they are all equally important.
This concept not different in our daily professions. A CEO's job is just as important as a custodian's job. A corporation could not function properly if either position were left unfilled. Don't look down upon yourself or your job because it may not be considered glamorous by society's standards.
We can never forget that we are not in control - God is. He is in control of our successes at work. In Genesis 39:2-5, God made Joseph successful in Egypt. Joseph's master and his household saw prosperity because Joseph had God's favor.
God controls our promotions, as well. Psalm 75:6-7 reads, "No one from the east or the west or from the desert can exalt a man. But it is God who judges: He brings one down, he exalts another." (NIV)
It is perfectly fine to set goals and to make plans for our lives and careers. God doesn't want us to just sit back. But we should be prayerful about our goals and decisions. We should make sure that our plans are in line with God's purpose for our lives. Only then will we see the results we expect. As Proverbs 16:3 instructs, "Commit to the Lord whatever you do, and your plans will succeed." (NIV)
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