Where to Invest Today?
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#376: Where to Invest Today?
In this video:
00:24 – My latest bank statement
01:07 – What are your options?
02:06 – Continuing to do what we’ve always done
02:21 – Client from Germany making 2.5% to 4% per week
03:45 – The takeaways from Sedat’s comments
04:45 – Bettering yourself as a Forex trader
Bank interest rates continue to fall. So what do you do when it comes to investing? Let’s talk about that and more right now.
Hey, traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 376.
My latest bank statement
Now, I’ve received a letter here from Lloyds bank over in the UK. I had a account when I was a kid with Lloyds. Still continue to have one there for when we go to Europe for holidays, not sure when that’s going to be happening next either right now with coronavirus.
But anyway, what I wanted to talk about was on here, it says my interest rate will be changing to 0.01 gross interest paid quarterly. How exciting is that? A 0.01% interest, it’s incredible. It costs them more to send me the letter to New Zealand than they’re going to pay me in interest.
What are your options?
It comes back to what are you going to do about that? Because interest rates throughout the entire world are obviously falling, and it sounds great if you want to borrow, but of course, getting money and borrowing is actually getting harder as well.
You just think about commercial property, why would you want to jump into commercial property right now when office blocks throughout the whole world are empty because more and more people have actually worked out that they can work from home? Exactly like I’m doing right now behind you here. But people don’t need to be travelling to work like they used to. Sure, it will come back a little bit, but the actual having to be at the office, having to be at work, businesses are figuring out that it’s actually cheaper, of course, not to be renting, leasing or owning so much space.
So therefore, as the investor, why would I want to go out there rushing to buy office space or anything like that when the actual occupancy rates are probably going to be a lot, lot lower.
Continuing to do what we’ve always done
So it comes back to, for me as a trader, I’m just continuing to do what we’ve always done. Why? Well, because it works. Why? Well, because what other options do we have out there that can actually beat what Forex can offer?
Client from Germany making 2.5% to 4% per week
Now, I also wanted to talk to you about an email that I’ve got here from a client in Germany called Sedat. And he says, “Andrew, it’s been exactly one year, one month and eight days since I started trading according to the Forex Trading Coach system with you. Since then, I’ve only had positive months and only three or four negative weeks.” He says, “I’m not yet a full time trader, but I’m on my way to becoming one.”
He also said, now this is interesting, “Few people realise that you can learn this business.” Sorry. “Few realise that you have to learn this business for many years before you can really succeed. No one can become a doctor in two months, but many people believe that you can become a trader in only a few months.” And he goes on to say, “I myself, make 2.5% to 4% profit per week and only trade the one hour charts. I trade with great passion and dedication. If I can’t trade for day, I’ll almost get psychological withdrawal symptoms with a smiley face. I think without absolute passion, no one can become a successful trader.”
So that’s from Sedat over in Germany. So 2.5% to 4% per week, never had a losing month, and only three to four losing weeks in a year, one month and eight days since he joined us when he wrote that email this week. Amazing, isn’t it?
The takeaways from Sedat’s comments
So just think about that. Not only the return, but also think about what else he says on there. You can’t become a doctor in two months, but why is it that online everybody thinks they’re going to become a full time trader in two months? You’ve got to be thinking about it real, but also you’ve got to put that time in and have that passion and that dedication.
So it all blends together. It doesn’t matter whether you’re doing it just for the enjoyment and the learning, the process. You’re doing it for an investment, or you’re seeing yourself with very, very limited other choices out there. It comes back to the fact that if you want to become a full-time trader or even a part-time trader, you have to learn how to do it properly. But if you learn how to do it properly, the profits and their results are there, plain to see, and compared with 0.01% at Lloyds Bank in the UK. Well, one of these trades go in behind me here is going to make probably around 1% to 1.5% profit, made more than they’re going to give me in an entire year in one trade.
Bettering yourself as a Forex trader
So look, if you have any interest in bettering yourself as a Forex trader, of learning a new way of creating some passive income, a new skill, then I highly encourage you to listen to what Sedat has said there about taking your time, but learning it properly. There is no better investment you can make than in yourself and to jump on board with our five star rated Forex Coaching Course. So once again, this is Andrew Mitchem at the Forex Trading Coach. I’ll see this time next week. Bye for now.
Episode Title: #376: Where to Invest Today?
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