I stopped chasing money & it flowed into my life like water
Summary
TLDRThe speaker emphasizes the importance of shifting from a money-focused mindset to a process-focused one, highlighting that true fulfillment comes from personal growth and helping others. They argue that chasing money leads to an unfulfilled void, while an abundance mindset and disciplined trading can naturally attract wealth. The video encourages viewers to seek financial freedom through trading, not for materialistic gains, but to gain the freedom to make a meaningful impact on others' lives.
Takeaways
- 💡 Focus on personal growth and process improvement rather than solely on money to achieve long-term success.
- 🌊 Shift from a scarcity to an abundance mindset to avoid the never-ending cycle of wanting more money and to manifest success in trading.
- 💼 Money is a tool and a byproduct of skill; it should be used to buy back freedom and time, not just for materialistic gains.
- 🧘♂️ Prioritize capital preservation and risk management over chasing profits to ensure sustainable trading success.
- 🚫 Avoid comparing yourself to others; instead, focus on being 1% better than you were yesterday to foster personal growth.
- 🔑 Trading offers financial, time, and location freedom, which are the true goals, not just the money earned.
- 🤔 Reflect on why you want money and recognize that most people desire freedom and the ability to impact others' lives more than material wealth.
- 🛑 Stop chasing money and instead let it flow to you by valuing it as the time and energy of others and using it wisely.
- 📉 Understand that fewer, high-quality trades are more effective than taking numerous trades, which can lead to losses.
- 🌟 Helping others and making a positive impact can be more fulfilling than materialistic pursuits, leading to a more meaningful life.
- 👀 Keep a discerning eye on online content, as it can often promote a materialistic cycle that distracts from the true purpose of trading.
Q & A
What was the primary change the speaker made in their life to improve their financial situation?
-The speaker shifted their focus from being money-focused to being process-focused, aiming to become 1% better each day in all aspects of their life.
How does the speaker suggest that focusing on the process rather than money leads to better outcomes?
-Focusing on the process allows for a more relaxed and fulfilled state, which in turn leads to better performance in trading and other areas, with money becoming a natural byproduct of skill and good decision-making.
What is the 'scarcity mindset' mentioned in the script, and how does it affect trading?
-The 'scarcity mindset' is a perspective where one trades from a position of lack, fearing loss, which can manifest negatively in trading decisions. It contrasts with an 'abundance mindset' that is more conducive to successful trading.
What does the speaker mean when they say that money is a tool?
-The speaker means that money itself is not the ultimate goal but a means to achieve freedom, fulfill needs, and make a positive impact on one's own life and others.
How does the speaker define the three forms of freedom that trading can provide?
-The three forms of freedom are financial freedom, time freedom, and location freedom, which allow individuals to manage their resources, time, and choose where they work or live, respectively.
What is the significance of the statement 'the more you chase something, the more it runs away from you' in the context of the script?
-This statement emphasizes that a focused pursuit of money can be counterproductive, as it can lead to stress and poor decision-making, whereas a more relaxed and process-oriented approach can naturally attract success and wealth.
What advice does the speaker give for those who want to improve their trading and financial situation?
-The speaker advises to stop focusing on the monetary outcome of trades and instead focus on the process, become a good risk manager, and measure success by personal improvement rather than external comparisons.
How does the speaker suggest reframing the concept of money?
-The speaker suggests viewing money as a representation of time and energy, which can help individuals to be more conservative with their trading and financial decisions.
What is the main takeaway the speaker wants the audience to have from the video?
-The main takeaway is to not destroy oneself for a job that can easily replace one, and not to lose oneself trying to impress people who won't remember one. Instead, focus on using money as a tool to buy back freedom and time.
What is the role of discipline and risk management in the speaker's trading philosophy?
-Discipline and risk management are central to the speaker's trading philosophy, as they believe that money flows to the most disciplined and process-focused individuals who manage risk effectively.
Outlines
🌊 Embracing the Flow of Money Through Process Focus
The speaker emphasizes the importance of shifting from a money-focused mindset to a process-focused one, highlighting how this change has led to a more fulfilled and relaxed approach to trading. By striving to improve 1% each day, the individual found that money became a natural byproduct of good trades rather than the primary focus. The speaker critiques the materialistic mindset ingrained in Western society and suggests that an abundance mindset is essential for successful trading. The video aims to explain why putting money on a pedestal leads to an unfulfilled life, as the desire for more money is insatiable. Instead, the speaker advocates for a focus on the freedom that trading can provide, including financial, time, and location freedom, and encourages viewers to reflect on their true motivations for seeking wealth.
💼 The Illusion of Monetary Success and the Path to True Trading
This paragraph discusses the common trap of chasing monetary gains and the disillusionment that can follow. The speaker admits to falling into this trap and suggests that new traders are particularly susceptible to the allure of online profits and materialistic lifestyles. The speaker stresses the importance of valuing money correctly, noting that it flows to those who value it most and are disciplined in their approach. The focus should be on capital preservation and making high-quality trades, rather than on the quantity of trades. The speaker also advises against comparing oneself to others and instead encourages self-improvement and introspection. The goal is to be 1% better each day, and the speaker reminds viewers that money is a byproduct of skill and should be treated as a tool for achieving freedom and making a positive impact on others' lives.
🚫 Breaking Free from Materialistic Pursuits and Prioritizing Personal Impact
In the final paragraph, the speaker urges viewers to avoid sacrificing personal well-being for the sake of impressing others or a job that can easily replace them. The speaker reiterates the message of not chasing money for its own sake but rather using it as a means to achieve freedom and make a meaningful impact. The video concludes with a call to action for viewers to reflect on their priorities and to use money as a tool for buying back time and freedom, rather than squandering it on materialistic pursuits that fail to bring true happiness or fulfillment.
Mindmap
Keywords
💡Process Focused
💡Materialistic Mindset
💡Scarcity Mindset
💡Fulfillment
💡Risk Management
💡Capital Preservation
💡A+ Setups
💡Financial Freedom
💡Abundance Mindset
💡1% Better
Highlights
The speaker emphasizes the importance of shifting focus from money to personal growth and process improvement, suggesting that this change leads to a more fulfilled and relaxed life.
Being process-focused rather than money-motivated results in better performance in trading and other aspects of life.
The materialistic mindset ingrained by Western society can be overcome by focusing on personal development.
Money should be seen as a byproduct of good trades and process adherence rather than the primary goal.
The speaker argues against putting money on a pedestal, as it leads to an unfulfilled life and a never-ending desire for more.
An abundance mindset is crucial for trading success, contrasting with the scarcity mindset that many people bring to the market.
Fear of losing money in trading can manifest as losses due to the scarcity mindset.
The speaker finds more fulfillment in helping others succeed, both in and out of trading, rather than just chasing money.
Trading provides not just financial freedom but also time and location freedom, allowing for a greater impact on others' lives.
The true desire behind wanting riches is actually the freedom that comes with it, not the material possessions themselves.
The speaker encourages reflection on why one wants money and suggests that it's often about the freedom it can provide.
Chasing money can lead to an enslaving cycle, whereas focusing on the process can allow money to flow naturally.
The speaker shares personal experiences of getting caught up in the materialistic cycle and the importance of refocusing on the true purpose of trading.
Capital preservation is the primary focus for traders, with the goal of maximizing returns through disciplined trading.
The market is always available, and a trader's career does not hinge on a single day's outcome.
The speaker advises to stop focusing on the monetary outcome and instead concentrate on becoming a good risk manager.
Success should be measured by personal improvement rather than by money or comparison to others.
Money is a byproduct of skill, and having the right skills in trading will naturally attract money.
The speaker suggests that taking fewer, high-quality trades is more beneficial than taking many trades in the hope of making more money.
Money is framed as the time and energy of others, emphasizing the importance of respecting and using it wisely.
The final message is to not destroy oneself for a job or lose oneself trying to impress others, but to focus on the freedom and impact that trading can provide.
Transcripts
I stopped chasing money and it flowed
into my life like
water the number one change that I made
in my life in the past few years was one
I switched from being money focused and
chasing the bag to being process focused
and actually becoming 1% better each day
as a person as a Trader as a friend in
all aspects of my life right I was
focused on getting better 1% each day
and so when I made that change in my
life
it allowed me to one get rid of the
materialistic mindset that I think a lot
of Western Society has implanted in us
um since a young age is growing up we're
surrounded by ads we're surrounded by
this luxury lifestyle that you see
online but when I made the switch from
being Money Motivated to process
motivated I found that I was way more
fulfilled and I just was way more
relaxed in general when I was at the
charts and it allowed me to perform much
better when I was more relaxed at the
charts and not really focused on the
monetary outcome of my trades but really
just making good trades right and then
the money comes as a byproduct of that
so in today's video I'm going to be
covering why you need to stop putting
money on a pedestal so when you actually
do put money on a pedestal right and
you're looking up to the bag and chasing
that dollar right that is going to lead
you to a unfulfilled life okay and the
reason for that is because the more
money you get the more money you want
it's a NeverEnding void right money can
be printed out of thin air so one
there's no need in chasing it right
shift your mindset shift your outlook
okay an abundance mindset is what you
need to have in trading and a lot of
people they come into the market with
this scarcity mindset and they're
trading from a position of scarcity
instead of trading from a position of
abundance trading from a scarcity
mindset that's only going to manifest
itself in the charts right the the very
thing that you're afraid of losing money
that is what is going to happen in the
charts I'm telling you if the thing that
you're most scared of in the market is
going to manifest itself in your trading
and so these things they manifest in
your trading but also you have to
remember that money and chasing the bag
that is only going to lead to one an
unfulfilled void because the more money
you make right the more money you
actually want it's never enough it's a
never ending cycle you always want more
more more and so that's going to leave
you with a empty void inside all right
there's not a lot of fulfillment in just
chasing money I found personally the
most fulfillment in helping other people
not only succeed in trading but helping
other people outside the markets right
helping my brother helping my parents
spending time with them asking what they
need fulfilling their needs that has
been the most fulfilling thing and
that's what allowed me to really wake up
with gratitude each morning
and that's why I love trading because
you have this Outlet right you have this
source of income but you also have the
freedom not just the money but you have
the freedom to really go take that trip
or to spend time with your kids whatever
it is you have the freedom in trading to
really make an impact in other people's
lives not just the money but with your
presence and so I want you to listen
very closely okay you do not truly want
riches you want
freedom and trading provides all three
forms of Freedom you have Financial
Freedom time freedom and location
Freedom trading brings in the money
money is just a tool you can use it to
do whatever you want right money is just
a tool but trading it gives you that
Financial Freedom it gives you that time
Freedom right and it also gives you that
location Freedom that most people can
never dream of right we can do this from
anywhere as long as you have an internet
connection or sell service you can trade
from anywhere in the world and so when I
say you don't actually want money what
you truly want is freedom well you have
to remember the fastest way to not have
freedom is by chasing enslaving for
money so I want you to truly ask
yourself why do you want money why do
you want a lot of money okay is it
because you want to drive nice cars and
show off for people who don't actually
give a about you or is it because
you want to make an impact not just in
your life but in other people's lives
and use it as a tool to buy back your
time and I think for most people deep
down they don't really just want to be
rich and wear Louis Vuitton but what
they really want to do is they want to
do what they
want when they want with who they want
right so I think that is what attracts a
lot of people to trading deep down but
they're just get caught up in all the
money right they get caught up in all
the monetary things right trying to
chase the dollar get their profits back
whatever it is they get caught up in
that materialistic cycle and they lose
sight of what they got into the game for
in the first place it happened to me
I'll be honest it happened to me and I
think that's what happens to a lot of
new Traders too they see all these
profits online they see the Lambos the
marketing
gurus and you got to remember when
you're online I said it in a previous
video when you're online you have to
have that in mind you have to look at
all the content online with a filter I
want to tell you this there is no point
in chasing money because you have to
remember money flows from the people who
value at least and it flows into the
pockets of the people who value it most
money flows to the most disciplined the
process focused and the ones who manage
risk it's important to remember that as
Traders our number one priority is
capital preservation all we're trying to
do is maximize our returns by one making
good trades taking A+ setups but also
not taking any stupid setups or doing
anything dumb or making mistakes in
between those A+ setups okay and that is
what it's all about hitting the target
hard and hitting the button hard when
your A+ setup appears and when you don't
see anything or you can't really read
the market that a certain day or there's
something that you don't quite see or
maybe there's just chop right that's
when you stay out and that's when you go
off and you go do something else
the market will always be here your
trading career does not depend on the
outcome of a single trading day unless
you let it and so now I want to tell you
about some changes that you can make in
your life and how to actually let money
flow to you instead of you chasing it
because we all know the more you chase
something right the the more you chase
something the further it runs away from
you and the harder it is to obtain and
by chasing something you subconsciously
are already putting it up on a pedestal
right you're saying that's greater than
I am I need to go chase that and so by
doing that you're subconsciously putting
materialistic things money whatever it
is you're in here for and you got
distracted by on a pedestal and you're
not focused on the true purpose the true
essence of what trading is right we're
here for Freedom we're here for
financial time and location freedom to
allow us to make can impact in other
people's lives so now I want to share
with you some changes that you can make
in your life and the first one being
stop focusing on the monetary outcome of
your trades and instead focus on the
process focus on becoming a good risk
manager not the money you should be
process focused and the money will
naturally follow and so I want you to
stop measuring success by one the money
but two looking outward and seeing what
everyone else is doing comparing
yourself to other people instead look
Inward and Look Backwards look behind
you and say was I better than I was
yesterday remember the goal is to be 1%
better than you were yesterday right 1%
better a day that's going to get you to
elevate not only your mindset but your
trading as well it's important to
remember that money is a byproduct of
skill and that money is just a tool
right if you have the skills if you have
the skill set of being a good Trader
taking A+ setups managing your risk
you're doing everything right that money
is going to flow into your life because
it it's impossible not to right you're
doing all the right things you're
managing risk you're not taking dumb
setups you're limiting the losses and
you're hammering the A+ setups when they
present themselves there's no way the
money is not going to come to you okay
it's just a byproduct of the skill and
so what a lot of people do is they want
to think oh I can the more trades I take
the more money I'm going to make but
really it's the opposite it's like the
fewer trades you take that are high
quality quality and you don't take any
of the dumb ones in between that's when
the money flows right Capital
preservation one way to think about
money is if you want to reframe it money
is just the time and energy of other
people because think about it most
people are trading time for money right
they go to a job they have a job they go
to their 9-5 and they sit down they work
and in exchange for their time right
they're getting a paycheck so money
really is just the time and energy of
other people so if you can respect that
and you take and you treat your money as
is right as the time energy that you've
put in to earn it then you'll be way
more conservative in your approach and
you will limit your trades right less is
more in trading you have to remember
that money is just a tool and that at
the end of the day it's all in how you
use it right are you going to use the
money that you earn to buy back your
freedom and buy back your time or are
you going to go take that money right
and are you going to go throw it away in
some Gucci Louis Vuitton flipflops some
Louis bags to show off on the internet
to strangers that don't actually care
about you if there's one thing that I
want you to take away from this video
it's to not destroy yourself for a job
that will replace you within a week and
to not lose yourself trying to impress
people that won't remember you in a
day I hope you enjoyed this video if you
did hit the like button smash the
Subscribe button and I'll see
you in the next one
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