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Hi from Andrea Unger! What does it mean "being smart or rich" in trading? This question stems from an attitude I observed in many traders, who tend to be more interested in the trend of the moment, rather than in methods that can actually help them make money.
I noticed that, in the trading environment, people tend to be more interested in the trend of the moment – trend is here intended as fashion, and not in terms of market movement – rather than in methods that can really make money.
It's possible to find useful inputs you could really use to make money in the Unger Academy blog, forum, lessons, books, etc., as well as in other places on the internet. There are many tips you can study and apply to make money, but it seems that people are not interested in them.
That's It, That's All
The main point is that, in order to apply useful tips and methods, people must study and work, and this is too much for them. Instead, most of the times they look for the ultimate tip, the one that will make them rich overnight.
I think the truth is that they are only looking for a way to feel smart. They simply want to say things such as "Wow, I'm a smart guy, I could sit in Wall Street because I’ve invested in Uber, Tesla, Bitcoin, Cryptos, Gold".
All these things are just trends. Sometimes we talk about crypto, sometimes about options, sometimes about gold, sometimes about US bonds.
There are periods when some important companies get quoted (think of Tesla or Facebook) and people invest in them or look for some information about them, just to feel part of the big picture, the big game, and feel they are smart investors or traders.
The Secret to Get Rich
I think many people are not interested in making money, they are interested in feeling like big traders. This is not wrong in principle, because anyone is free to do what he wants.
However, if someone wants to survive in the trading environment for a long time, he has to be very careful. In fact, this attitude makes it easier to get caught out by scams. If you look for the ultimate tip to make money, that secret nobody wants to tell you, you will obviously run the risk of getting scammed.
There are no secrets in trading and those who promise to reveal them to you are only trying to cheat you.
There are methods that statistically work, so you can study and explore them, in order to build your own method and eventually try it.
But I will never tell you the secret, simply because there are no such things as secrets in trading.
Looking for secrets is a very dangerous attitude; if you have it, sooner or later you’ll get trapped into something.
Good Content Vs the Ultimate Tip
Sometimes, it's quite sad to deliver good content and see that it isn’t perceived as good or interesting. The first time I went to China, it was December 2011, I delivered a one-hour speech about trading systems, showing examples and explaining methods that can be actually applied to make money.
There was also a Chinese-English interpreter, to make it easier for people to listen and understand my speech.
At the end, an old guy raised his hand and asked a question. I was very happy to see this, at least I was happy until I heard the question. "Do you think it’s better to invest in gold or in the US dollar now?" I was really passing out.
I respected his question and answered him, but that question clearly proved that he didn’t understand anything about the speech I gave. He didn't understand the purpose of the presentation and wasn't even interested in money-making trading.
He just wanted a tip. A tip from someone he didn't even know. I had been introduced to them as the Trading World Champion, but still I was just some guy.
That man was looking for a tip from me, regardless of everything else I had explained.
That wasn't very nice, because I realized that most of that people would immediately forget everything I told them, thinking about the next tip while going back home.
The next tip, the one that would probably come from somebody trying to get their money out of their pockets.
My piece of advice is that you should always be careful. Work, study and read between the lines. Watch the videos in my channel, try to find out what you think could work for you, focus on those things I tell you can work and use them to build something that can work for you.
Don't look for secrets and tips, because that kind of tips, that are different from the tips I give you here, which are operational, that kind of tips are dangerous and won’t make you rich.
By the way, I don't associate getting rich with trading. Those who know me, know that I'm a very decent person and that I never talk about the money I make, or the money that you could make by trading. When I say “rich”, I mean that you can make some money, which is the ultimate purpose of trading.
I know I always tell you that you should trade out of passion, both as a hobby and as a profession. However, if you choose trading as your job, you obviously need to gain money.
It would be quite complicated to explain to your spouse that you are making it just for fun and you are not making anything else.
So, the purpose is actually to make money, although you do it for passion.
So, Do You Want To Be Sly or Rich?
Is it better to feel like a big guy, or to be a smaller version of that big guy? This is up to you.
The Unger Academy provides you with all the material you need to become the bonsai of the big guy.
All the pieces of information you are given are very useful. However, if you're looking for the ultimate secret, I'm sorry to tell you that you're in the wrong place.
Ciao from Andrea Unger, see you next time!
Need More Help? Book Your FREE Strategy Session With Our Team Today!
We’ll help you map out a plan to fix the problems in your trading and get you to the next level. Answer a few questions on our application and then choose a time that works for you.BOOK YOUR FREE STRATEGY SESSION NOW >>
Andrea Unger here and I help retail traders to improve their trading, scientifically. I went from being a cog in the machine in a multinational company to the only 4-Time World Trading Champion in a little more than 10 years.
I've been a professional trader since 2001 and in 2008 I became World Champion using just 4 automated trading systems.
In 2015 I founded Unger Academy, where I teach my method of developing effecting trading strategies: a scientific, replicable and universal method, based on numbers and statistics, not hunches, which led me and my students to become Champions again and again.
Now I'm here to help you learn how to develop your own strategies, autonomously. This channel will help you improve your trading, know the markets better, and apply the scientific method to financial markets.
Becoming a trader is harder than you think, but if you have passion, will, and sufficient capital, you'll learn how to code and develop effective strategies, manage risk, and diversify a portfolio of trading systems to greatly improve your chances of becoming successful.