The untold secrets of the rich!
Have you ever been hungry? Are you feeling hungry right now? You see, you are hungry when you are so determined to be financially free! But there are strategies to that. In order to achieve more in personal finance; you must know the untold secrets of the rich. You must have heard this several times but let me reiterate it in a new way since there is nothing new under the sun. You need to be an investor. Become a friend of those who invest but then sieve their advice. So many months ago, some friends of mine were purchasing a particular unauthorized stock from a particular Company. They tried persuading me into doing the same thing. I was not easily persuaded because the money you really earn in a very hard way is hardly lost in a very cheap way. When they saw that I was not yielding to their advice they were angry with me. One of them even mocked me; he said: “don’t you want to become rich? We will not give you our money when we surely made it from this investment” but I kept my cool and told them that I am not having the excess money that could go into that kind of investment for now. They said they too did not have but they just have to find it anyhow.
Then, it became a real issue among us. But they really know me well that I am someone that you can’t just fool around when it comes to money issue, especially investment matters. I have always known that there is more to that than meets the eye.
Should I tell you another secret of the rich in a whisper? This is another untold secret of the rich; they are not gullible; not easy to fleece. Not easy to fool. They are not nave. They are smart!
Wise investors don’t invest because of profit in the immediate but because of the personalities of the people involved in that particular trade. They invest because of who is who in that business, in that field and Market. In actual sense; they are investing into something like reputations and names involved. They don’t just join any company like shifting into a career.
Moreover, wise investors take pain to study some other indices. They observe their own skills, personalities and their vision. What they really want to achieve with their money? The exact direction they are heading in life? In what direction their life-calling is? What’s the purpose of investing where everybody is investing? Let me tell you a something. I tried out something profound sometimes ago. It’s like experimenting with other people’s money. Although it was never intentional; I experimented with my friend’s money. I told a female friend to invest into a particular stock because the news concerning that stock was so crazy and alarming. I saw everybody rushing in, to invest in it. Since, they are all going into it. But I did not have adequate liquid cash to invest as at that point in time. So I convinced my friend to do it .she invested and lost all her money. I felt so bad. I was sorry for her indeed because it was not intentional. That company for several months never sent her certificate of investment in her share.
A similar incident happened to another, he went to join the bandwagon of early adopters of goofy investment schemes. They all put in all their money just because the return on investment was overwhelmingly. The much awaited news was not funny. It was unexpected news of failure of the financial company involved. The financial company was working with investors’ money. They were operating against the policy of the land. The central bank of the land froze their accounts. My friend money was frozen along with the rest of the nave investors. They are yet to recover their money. Since, they have not recovered financially from that experience.
I must warn you at this point that: never get involve in ego-investment. I will explain what that means. It means don’t join the bandwagon of the goofy people who want to prove to others that they can predict the financial market-world. Rather join the camp of those who have had a real experience. They have lost money here and there; and they now know where to put their money and where not. They have gotten their fingers burnt at one time or the other .yet they are not paranoid, neither have they stopped taking risks, but they now take better, calculated risks. These are the people to pitch your tent with. They are the wise investors. They have been hurt but they have not resigned. They have been wounded but they have not been stopped. These are those who don’t just place a trade anyhow. They don’t just place a trade at about the same time every other person does. If they are trading in Forex; they watch all the through the night till they have mastered the trend, then they go and reposition with the few who are gainers. It is when others are already tired, losing patience and losing all their money. That is when they place their own trade. They have been frustrated once, not again! They would wait till the point when others are ready to leave; when they are so impatient to lose further; it is at this point of wanting to leave the market of others that they come in to the market to cart away all that the nave investors have labored for. Their psychology is to quickly strike, when others are weak and losing concentration. When some others are so obstinate to switch over .when others are so ego-filled, such that they feel the market will still favor them. It is while the nave investors are still waiting on a particular trade for minutes, and then hours. Then weeks and months; and they kept losing money; you know such people? The wise investors empty their wallets on the right side. The nave investors squander all their money such that their account would almost go empty on ego investments. You see, it is because they really love to experiment a lot.
The wise investors on the other hand understand that, no matter how long you may travel on a wrong road in a sunny day; it still remains a wrong direction that leads no where. So, they quickly reposition themselves for increase.
Empty your pocket. It will fill your mind. Then open your mind and it will fill your pocket.
There is an investment mantra that the rich, wise investors say repeatedly to themselves. It goes like this: make beeps,[beeps meaning profits];keep the beeps and repeat the process, repeat the things you have done. Take note of the process that led you to wealth and then retry it.
Sometimes we need to learn to be observers of investment world firstly before we rush in with the crowd. Sometimes it is better to be a late adopter than an early adopter of financial innovation. Liberation to financial freedom require taking your time, and then never becoming paranoid or scared of taking risks. The mechanism is funny but it is the safest. Sometimes, you just need to follow your heart. Obey your instincts. Believe in yourself. be creative, launch out. But never run on another man’s instinct except they are trusted men in the field, except they are veteran. At other times you just have to look closely to see who and who are involved in the business you are trying to invest into.
Watch and watch and keep watching, then act; watch and observe the trend of your personal life.
Enjoy your sufferings now. Endure your afflictions .Master your suffering. Study your suffering cycle because they may be the clue to not only your own liberation but a financial freedom for your self and also many other people.
In your journey to financial freedom; ensure that you know where and how you made your loss, then learn to almost always reposition yourself to be at the points of winners/ gainers. For why should it be you that is loosing all the money?