Author: swolf

It is not everyday that you really get to feel all of your hard work pay off. When I started currency trading 3 years ago, it was hard. There was a learning curve, and at times it seemed daunting and elusive to actually be successful at trading.

I really believe that when attempting anything new, there is going to be a period of time where you just suck at it. When you are a person who really likes to win, it can be difficult to attempt new things. The trick is that you simply need to accept the fact that you are a rookie, a noob, a kook or whatever and that you are not going to be killing it one month out of the gate.

Trading currencies has been a game changer for me. Coming from the sales and marketing world, investing in general seemed to be for brainiac types who were really good at numbers. I knew that I could always make money in a situation where there was something to sell, but could i have the same success as an investor, or as a FOREX Trader?

When I first found the Forex market I was vacationing in Bali Indonesia on a surf trip. On a day where there wasn’t any surf to be had, I started looking for ways to make money from a laptop…. (Watch the video, it will explain the rest so I can get on with my story)

Once I found the market and made my first couple hundred dollars before the sun came up one random morning, I was hooked! Unfortunately I never took in to consideration that in order to win at trading, you are going to take losses, and I was a guy who didn’t like to lose. I proceeded down a losing spiral of lost profits and nearly decimated my entire trading account in less then a months time.

I took a break from trading and was feeling pretty beat up by the market. Losing can really screw with you when catch a bad streak like I did. I was not prepared for the emotional turmoil that ensued. Unlike anything I had attempted before, currency trading required me do adopt a high level of emotional intelligence in order to be successful at it. So I got back up, dusted myself off, and got back to it.

I went back to  the school where I had originally learned how to trade. I went through the course again with no expectations and a new willingness to learn. 

The curriculum didn’t change, my perspective did. This time around, I was a lot more humble. After all I got my ass kicked. After putting in 6 months of hard work in, I starting to see some positive results in the form of substantial equity growth in my account. I was ready to take the show on the road, and see if I could really do this from anywhere in the world.

I headed down to Nicaragua with my girlfriend with 3 goals in mind:

  • Propose to my girlfriend
  • Surf some big waves
  • Pay for the whole trip currency trading from my laptop

I scored big time. The surf was macking, and I was pretty sure my girlfriend was going to say yes to marrying me. I was just waiting for the right moment to propose. I started doing my pre-sessions & technical analysis on the market looking for some trades one morning, and then just like that, a couple trade set ups presented themselves and I pulled the trigger!

— I was sitting in a youth hostel using their shotty wifi and hoping to God that the internet did not go out before I closed my trades. With in 15 minutes of trading I managed to pull 7 scalped trades netting me $1,272.96 after commissions. —

I closed my laptop, ordered an iced coffee and just sat for 10 minutes staring at the ocean and feeling like I had just pulled off a huge victory! I soaked it up, I proved 15 minutes of tradingthat not only could I trade, but I could do it from a shitty hostel with bad wifi in Central America. Later that evening, I asked my girlfriend to marry me and she said yes.

So I got 2 out of 3 of my goals done. Even though $1,300 was not enough to cover the entire trip, I felt like $1,300 for 15 minutes of my time was well worth taking the rest of the trip for myself and to celebrate my new engagement. Besides, the surf was macking remember!

The moral of the story is that If you put your mind to something and stick with it, you can do it. The path to success is not linear, but it follows a trend!

If you want to know more about how you can become a currency trader and make profits in the market from a lap top anywhere in the world click the logo below and find out more about the FX365 Institute!

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Does your Remote business pass the litmus test? Could you actually leave the country for weeks or months at a time and still count on the business to grow on its own and produce income?

In this article I am going to share with you some of the most important questions that you should be asking yourself to avoid a career that is going to keep you chained to your desk.

When I am approached with a business or come up with an idea, I ask myself these following questions to help me decide if I should even consider pursing the business.

These days, if they do not get passed these questions with a yes, then I am probably going to go a different direction.

Now for the smell test questions:

  1.  If I spent a year building this business, and I left the country for 2-4 weeks without being able to call back or answer any emails, would it still be standing when I go home?

This may take some introspection and some deep thinking about what the business is, who it would involve and what you would need to figure out to get all of the pieces together. This type of think and evaluation will become paramount when assessing situations for your business in the future, so play the tape out and visualize as best as you can where you would see yourself and the business in a year or two.

  1.  Is this a business I can run myself? Or will I need to hire or contract out work to properly run it? And if I do, will I be able to effectively manage the team remotely? 

If you can do it on your own, great, do it! Unfortunately, most enterprises, even small ones, will need to depend on others to accomplish whatever it is your business will do or provide for people. The question you need to concern yourself with is can you effectively manage then from a far, or set the business up in a way where employees or partners can or would be self-serving and motivated to accomplish tasks day to day to keep the company running smoothly.

  1.  On a scale from 0%-100% how much of the business can I automate?

(0%-60% is no good / 60%-80% is ok / 80%-100% is ideal). Automation is going to be key for you to managing efficiently from a far. It will allow you to batch work, and delegate important work properly. Also it really allows you to step away from the business, or parts of the business, for days or weeks at a time, and then come back to spot check at a later date. Most importantly automation usually takes the place of what human used to do and will allow you to perform more high value activities for the business.

  1. Will it make me enough money to give me the life I desire to have? And if so, how long will it take to get me to that point? 60 Days? 6 months? A year? 

For more on this topic check out my blog I wrote on Time vs. Money! This will really put this step in to perspective for you.

  1. Pros and cons list – Now for the final step, write down all of the great things about how the business is going to get you what you want out of it. Examples could be things like “90% automation” or “allows me to travel 6 months per year” etc and then do the same for all of the potentially negative elements about the business. Make sure to be real with yourself here. Don’t sugar-coat this part.

Once you have completed all of these steps, then you will have a solid understanding about what you could potentially be getting involved in. I can’t stress the importance of the exercises!

Because, I have been working as a management consultant for a number of years, I have a keen ability to understand what is going to make a business succeed, or a failure. Unfortunately, most folks don’t even think about these things when starting a business. Instead they get excited about the idea, or one aspect of the new business, and run with it, throwing caution to the wind and ignoring, or simply not shifting through the idea and all the endeavors they would incur first.

Be smart, be savvy, and get the business that will give you the life you desire. But don’t ever be afraid to give your idea a litmus test! It will save you time, money and heartache in the future. These simple actions will keep you on the right track helping you to avoid a business or an idea that will stand in the way of a better suited business or opportunity that will give you everything you need.

 

In my last blog I wrote about the Joy’s and freedoms of working remotely. If you missed it, read it here! This will give you a little better context of what I am writing about in this 5-Step process to finding the perfect remote job to keep you traveling and experiencing the world all while making money from your lap top.

Here is my 5-Step Process.

1.Find a job, skill, or way that you can actually do that will produce income without you physically needing to be there. – This is going to be your most difficult task. You may be saying to yourself “well I am a doctor, how could I possibly practice medicine from a laptop?” Well this comes down to how resourceful you want to be. My dad is doctor, a Podiatrist to be exact and he has been looking into what is known as “tele-medicine” which is basically on call and on demand video conferencing from doctors to patients. Say you have a foot problem, you go on the site, set an appointment, my dad would accept it, you are instantly connected, he gives you advice and recommendations and your done. The system charges the patients credit card and they go on their way. Booya, there is a way a doctor can work 100% remotely. You may be surprised what you find if you really start thinking of all the different ways you could monetize your skill sets right from a computer from anywhere in the world, don’t worry, we will get to that in number 2.

  1. Get really good with technology. – If you are going to have any chance at being an entrepreneur on the road, then you are going to have to get really good with leveraging technology and automation. What do I mean by this? Well put it this way, I can pretty much run all of my business from my iPhone. Everything from a CRM to a VOIP telephone system that allows me to communicate effortlessly through WIFI anywhere in the world. This means that if you are planning on getting into a business that has to ship “real” goods and logistics, as well as a customer service dept. will be necessary, then you are going to have your work cut out for you. I am not saying that it is impossible, just going to take a couple extra steps of strategic planning and utilization of technology that automates the process.
  2. Simple is better. – A good business is not necessarily a complex business. I would consider a solid business to be one that is profitable, allows you to live the life you desire, and takes care of its employees and its customers. Some of the best businesses that I know of were born out of the simplest ideas or needs by a consumer. Take for example the work we do at the FX365 Institute, we teach people how to trade currencies all over the world from office in San Diego. We have students in 20 U.S. States and 4 countries that take our course 100% remotely and learn a skill set that allows them to make money in the foreign currencies market anywhere in the world from a laptop.  Don’t overcomplicate this part. The less you need to run your business, the better off you will be.
  3. How much do you really need to make? My favorite part of explaining these concepts to people is conveying the fact that a business only needs to make you “enough” money in order for it to change your life. If you added up all of your expenses annually, and then added in the costs to live in another country or to travel a couple months out of the year I think you will be surprised to find that you don’t need to make $300K per year to achieve your goals. In fact, I have been able to travel about 2 months out of every year for the past decade making around $100k per year. The best part is that I only really needed about $60K to sustain, so any extra money that I make on top of my yearly nut goes in to savings and investments. This allows me to stay diversified, active inthe markets using online portfolio managers, and open to new ideas and businesses while I can keep the quality of life I have come to enjoy. The point is to make enough and then a little more. You don’t need to be a millionaire to pull this off.
  4. Multiple Streams of Income remotely –I know you have heard this one before, but maybe not through the lens of doing it remotely. Every book I have read on this topic is about real estate and multiple businesses that would require you to physically be somewhere to manage those streams. When you start to venture down the road of working remotely you start looking at businesses in a whole new light.

I have come up with a couple of questions that I use to test the remote possibilities of a business. These days, if they do not get passed these questions with a yes, then I am probably going a different direction. I wrote two articles that may give you more context when it comes to working remotely, follow the links below to check them out:

Do you ever dream of being able to run a business from anywhere in the world? Have you ever found yourself looking online for different ways you could travel abroad and somehow make an income while you were halfway around the world?

Over the past decade I have been perfecting this skill. The truth is that it is not as easy as it sounds. This is especially true if you are used to a 9 to 5 standard day job. The dream of one day quitting that job and breaking free from the chains of the corporate world can be elusive and fleeting.

When I was 22 I left the country for the first time. I signed up for a study abroad trip to Spain, paid the money and prepared to leave home. To be perfectly honest, this trip wouldn’t be my first time out of America, I frequently went to Mexico in my teen years growing up in San Diego. None of my trips to Mexico had any real cultural importance. In fact, I don’t even really remember what transpired during most of those trips and never really made farther the Tijuana bars on Revolution Blvd. This trip was going to be different, I was with college kids, and there was some structure, so I figured that was a good place to start.

 

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I remember getting off the plane in Madrid. I was bustled away from the group with my host mom who didn’t speak a lick of English and was given a room in her little apartment. I was super jet lagged and had never been on a flight that long in my life, so I passed out immediately.  When I woke up it was dusk outside. I walked down the 4 flights of stairs and sat out on the sidewalk in the neighborhood. I was listening to all of the sounds of the city, and taking it all in. The smells, the cars, the food, everything was different, I didn’t know anyone around, and I was far from home. I was in LOVE.

This first encounter of Wanderlust was intoxicating to me. I vividly remember it and I was so grateful to be in that moment experiencing life again in a new way for the first time.

I thought to myself, what if I could do this all of the time, what if I could just travel a lot? It was sometime on that trip that I decided I was going to need to find a line of work that was going to allow me to do this. About a week before the program ended, I told my professors running the program that I wouldn’t be accompanying them back to America. I stayed in Western Europe an additional 4 months, traveling around Spain, Italy and France.

Once I ran out of money, I came home. At that time I was running a Mortgage office which surprisingly was still standing after my almost 5 months of me being gone. It didn’t matter though because I came home in September 2008 just in time to watch the housing market collapse completely. I was screwed. I had done really well for a kid who dropped out of college to get rich but it was all backfiring now and traveling was the last thing on my mind.

After the dust settled, I was about $190,000 in debt and in need of a new career. I had decided to go back to college a year earlier and had about a year and a half left for my undergrad degree so I figured I would spend the next 2 years finishing college and finding a career that would set me up to travel the globe and make money while I was doing so.

The first business that I found that worked really well for me was multi-level marketing. It seemed like a great fit. I was recruited into a company that sold me the dream, saying that if I spent a couple years working hard at building an organization, it would eventually take off and continue to pay me residually. This was PERFECT. I could build the business for a couple years to about $100K per year then disappear to Indonesia

For a first timer in MLM, I did incredibly well, and I build that $100k per year income in a short amount of time but it was short lived. The first company I was with asked me to leave, and the second company I joined eventually went belly up. Also every time I would leave the country on a trip, I found myself on my phone or laptop the whole time putting out fires, and that was just stupid.

When I finally walked away from the industry I decided to put my entrepreneur hat back on. I had raised some money for a tech start-up, and was actively learning how to trade currencies in the FOREX market.

I never lost sight of my desires and dreams of being able to make money from a Laptop. I just needed to be a little more resourceful. I found that as long as I can offer real value to a client, even being a great distance away, that my capability to earn money anywhere in the world would be there.

So over the past 5 years, I have been doing just that. Most of the consulting work that I do is never from an office. I do keep an office at the Currency trading school that I have a long-term contract with, but they have always been cool with me leaving and making my own schedule. Again, I attribute that leniency to the results I am able to deliver. The moral of the story is that there is a million ways to make money and add value to a person, place or business, however you need to be resourceful if you are going to do this from a laptop half a world away.

I have put together my top 5 tips to finding your own way to take your business on the road with you for good. Be sure to look for my next post, “Top 5 Tips to Working remotely.”

 

 

If you are thinking about trying your hand at currency trading, then there are a couple natural talents and or interests that people who make great traders have. As you read through the 7 signs and find that you are a match, then that natural ability coupled with the correct training will give you a clear advantage when it comes to trading the markets!

Here is the list:

  1. You’re a Left- Brained Thinker – Those who have more left brained tendencies are more likely to like forex trading. Left Brained thinkers tend to have strong math skills, logic or reasoning skills and are good critical thinkers.
  2. You <3 Graphs – Graphs and analytics are your thing. If you love organization and keeping track of your progress, you’ve come to the right place.
  3. You’re not Easily Intimidated – You are okay with the idea of being the black sheep among the white sheep. Going right doesn’t bother you when everyone else is going left. You hold confidence with your decision making, but are not consumed by arrogance or greed.
  4. You’re Emotionally Stable/ Even Tempered – Emotions are a major player in the game. Greed, fear, and overconfidence will eat you alive in forex trading. At times trading can be frustrating. Being able to know when to close out and walk away is critical to staying on top. Knowing your emotional limit is important.
  5. Staying Humble – The trading game is all about your state of mind. Arrogance will be your greatest weakness. Keeping in mind that you don’t know everything and there is always something to learn and take away from both your wins, and your loses is a good mindset to keep.
  6. You have Genuine Interest – Unless you love what you are learning and being a part of, it will exhaust you. Forex trading is not for everyone, if you are not truly interested in investing your time and energy into it, it may not be the thing for you.
  7. You’re Willing to Put in Work – If you are looking for a way to make an easy dollar, this is not the right route. It takes time and practice to master and there is no easy way around it.

 

Now if you found that you met 4 out of 7 signs, don’t fret, you are still in luck. Things like emotional stability, work ethic, and humility can be learned over time as long as you are willing to put in the work to learn.

Here at the FX365 Institute, we specialize in teaching everyday folks how to become ninja traders in the market. We have found that when a student is willing to do what ever it takes to learn to trade, we as an institution can help get them across the finish line.

Think of it like this, if you are trying to get in shape, hire the best trainer and nutritionist to plan your meals and help you work out correctly you will have all of the tools you need to get in shape. If you never show up to the gym and eat correctly, you will never see the results.

Learning to become a profitable trader is exactly the same. We can provide you software, instruction, mentorship, access to our trading community but at the end of the day, if you don’t show up and put in screen time, you will never make it even if you have matched all 7 signs!