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Thursday, December 4, 2008

Trading For A Living ... (VIDEO)

"Peter was the only guy in the camp he had ever wanted for his friend, the only guy he needed. So he decided to teach him the facts of life. It's going to be tough, Peter boy, and it may hurt you a lot, but I'm going to teach you if I have to break you. You're going to survive and you're going to be my partner." - Colonel King, King Rat by James Clavell

When you reach the end of a YouTube video, suggestions are provided to as to other videos with similar topics. Usually, these suggestions are pulled from similarities found in the 'tags' of each video. Tags are the 'labeling identifiers' that users can attach to their video such as: 'economy', 'bailout', 'AIG', etc.

Some time ago I proceeded to click on one of the suggestions. I found myself quickly tumbling down the down the rabbit hole, careening from video to video, listening to scores of individuals discuss the economic crisis; and how it directly affects their lives. In each video, the person was either grasping for practical solutions, or espousing what they believed were solutions.

I ran across one fellow who seemed to know what he was talking about during the beginning of his video. Yet after 3 minutes? His solution was to create what he thought could exist as a 'true' communist state. So much for self-reliance.

I found someone else, who was basically ... well ... they were crying about losing their job. Now I can sympathize with the emotion of losing your place of employment. But what did this sad state of affairs drive this person to, in terms of a solution? What was the first thought that came to their mind? Kill anyone who makes over $250,000 a year, and take their money. I'm completely serious. And so were they.

I found someone else, who was preaching class warfare from what appeared to be his basement.

People are desperate for practical, workable solutions to their immediate problems. It never ceases to amaze me how many people expect to be handed a job by someone; and then call this 'self-reliance'. I truly believe that many people do not know 'how' to become self-reliant. How to procure their own food, their own livelihood, their own means of living.

When I am asked by someone how to achieve self-reliance? I always answer in the same manner: Become a trader.

I discuss what I mean by that statement in the the following vlog entry ...

(Video Included. If you're seeing this from Email subscription? Click on this link to View the Video ...)

Please. For the love of all that's holy. In the coming recession?

Be a trader.

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Note: This is not an investment or trading recommendation. The losses in trading can be very real, and depending on the investment vehicle, can exceed your initial investment. I am not a licensed trading or investment adviser, or financial planner. But I do have 12 years of experience in trading and investing in these markets. The Challenge accounts are run for the education of other traders who should make their own decisions based off their own research, and tolerance for risk.

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