When I dropped out of university It was because of I wanted to persue this forex trading thing.
I thought I would become a millionaire within a few months after I left school. I had no trading skills and knowledge.
I didn't have the money to get a mentor. I didn't have enough money to fund a live account. I only had about $90. Which I blew out before I could get anywhere. ---------------
I was now back home with no source of income. Back at school I had a source of income from my scholarship. I struggled with the internet connection. I had no money. I found myself left with the choice of going out to find a job.
2 years went past without finding any job. On my third year after I had dropped out. I got a learnership in a powerstation. By then I had already learnt a lot regarding trading, hustling and survival.
I then began to use the monthly allowance I recieved from that to buy a few courses from people I've been following. I funded my third live account following the $100 one which my older brother had funded for me the previous year which I blew.
I traded my new account for a few weeks. Making money but losing it as well. It was like a whipsaw. Moving back and forth. Today I make. Tomorrow I lose. It was frustrating of course.
But I funded my fourth account which was the last one I ever blew. This is because I was now rapidly learning from trading live. Learning from real time trading mistakes like not exercising proper risk management. I now had the internet connection because I was able to pay for it with my monthly allowance.
That's why it's extremely important to dropout knowing that you have a basic source of income because it'll help you.
Do you relate? Comment below if so.
Reasons why the GBPUSD AKA Cable kept printing new highs today:
1. Regarding the monetary policy, the central bank didn`t present any renewed outlook but noted that Q3 GDP estimate raised to 0.5% y/y (year over year) in August from 0.4% y/y. Ongoing monetary policy tightening process likely appropriate provided the economy grows as expected. This is Upbeat (positive) tone for GBP.
2. GBP Quarterly Average Earnings Index beat estimates on Tuesday of 2.4% to 2.6%, this number has a tendency to push inflation higher which is positive for the GBP, at least for us traders and not for consumers in the UK.
3. Despite any overall Brexit uncertainties, yesterday we had positive Brexit News (As I posted). Good for bullish GBP short-medium term sentiment.
4. USD CPI and Core CPI missed estimates Today, putting a downward pressure on the USD.