Have you ever wondered why wealthy people at most times when you knock at their door step for funding never want to fund a business idea? No person in their rightful mind will risk their hard earned cash in a paper.
Even when Steve Jobs started Apple, investors did not invest in his idea because they needed to see something tangible. Investors, 90% of the time don’t invest in an idea because they understand the reality of the business world. In a business plan you can project that you will make BWP40 000.00 a month, but as soon as you get into the businesses you will realise there is reality and misconception. Forex is no different, there is what you see on social media and what you see when it’s your time and the market.
When I started in 2016, I was enticed by the lavish life I saw that the so called “forex gurus” were living. These guys will post those fast toys and big houses (type of life I saw on MTV-Crips when I was just a boy) which I admired so much. I believed if a South African can do it then I can do it. I then contacted one of the forex models to teach me trading, he charged a whopping US$500 for a 1 day online session and so I paid. Well the guy showed me Moving Averages crossover strategy and after the session which lasted only an hour, I felt cheated and stupid.
I tried the strategy on my own at times it worked but most times the market was killing me. He is not the only guy I paid for training, I also paid someone for Elliot Wave Strategy US$500 for Price Action (support, resistance and Trendlines) Strategy US$400, none of these worked to my satisfaction. I don’t regret paying all these monies today, because I can confidently say these are useless strategies.
The only benefit is they developed me to know how Retail Traders see the market. In my hustle trying to find the best strategy, I came across an America guy by the name Michael because unlike these other gurus, he is the real deal (mind you I don’t consider him a guru, he is something better, a Mentor). Michael’s course was US$150/month for 12 months which equate to US$1800. To be the trader I am, I invested US$3200 and this last payment elevated my skill in this industry and I am now the guy in the inner circle.
Forex Trading is a Lottery
The most common question, how much can I make in week? This is the question that kill many potential traders because people come into forex trading thinking they are going to win but that is not the case. I know there are people who promise you that if “you invest US$500 you can make US$8000 in a week” well it is possible but it is gambling to me, even the bank when you invest with them, they promise you 3% a quarter.
Forex Trading is a business, just like any business out there, the primary goal is loss mitigation, and it is not a get rich scheme. On average it takes a trader a minimum of 18 months to be profitable and so people should not expect ridiculous returns in a short period of time. For you to survive the industry, you must focus more on how much you can lose than how much you can make. I always tell people this “treat every trade as a loss until you close it with profit’’.
Next time you want to ask a question about your investment it should be how much can I lose in a trade? The more you expose your money to risk expecting a quick return, the faster you will lose your trading account and soon term legit business a scam. Remember Coca-Cola sold 25 bottles the first year of operation but today it sells that in a second, forex trading is risk management.
Forex Trading should be free
It is human psychology that free stuff are of no value, but with Forex Trading why is it not the same dogma. We live in a century where information separate the rich and the poor. To excel any field you ort to be informed and this information does not come cheap. Did I tell you that I bought the Interbank Price Delivery System for a whipping US$1800 to be the trader I am today? This lead me to another common question “if you making money in forex, why are you charging for mentorship?” The information I possess regarding how banks work in this industry is a privilege and it is the information that will be passed down my linage. Training and mentoring someone takes time, time from my family and charts. Most importantly you will never value the information that is delivered to you unless you put value in it.
There is a lot of free trading information in the internet, the brokers provide free reading materials and webinars. I dare you to study those materials, and attend those webinars, when you are satisfied, invest your hard earned cash and watch yourself lose it in a week if not in a day. Investing in training and mentorship is the best thing you can do for your trading career, you should start viewing training and mentorship as raw material of this business, information is the core of forex trading, seek information first, then money will follow you around.
Forex Trading is just Technical Analysis
I am not going to argue with anyone on this one, it is straight forward. Technical analysis makes a very negligible percentage in understanding forex trading. By definition, technical analysis is an analysis methodology for forecasting the direction of prices through the study of past market data, primarily price and volume. Components of technical analysis include chart patterns, support and resistance, Trendlines and indicators. Have you wondered why resignation of a company CEO or any scandalous information cause certain abrupt movement in price?
Have you wondered why the head and shoulder pattern never reached your target or never materialize? Have you wondered why a break out of Trendline never went far, or the retest on the breakout never held the price? There is so much to forex trading than just Trendlines, support/resistance, moving averages crossovers. Price is moved by fundamentals, there should be institutional sponsorship for price to move.
You need to understand an area where institutions are willing to buy or sell the asset, or an area where they are willing to take their profits and none of the training material available on the internet will get you close to perceive the market like a Market Marker. You need to understand that fundamentals are the drivers of the market, you need to understand how to blend technical Analysis and Fundamentals to come up with a high probable trading set-up. Information is key in trading forex.
Forex Trading is Easy
Lack of information make trading forex difficult, I have passed that stage where I thought only technical analysis was everything in forex. Almost all Brokers will tell you 90% of traders end up losing their investments. I am not saying this to scare you, I am saying this so you can be woke, be informed. You need to invest in getting information if you want trading to be pleasant to you, don’t be stingy when it comes to your development and also don’t be lazy.
Do it Yourself
All professional traders have mentors or started with a mentor and later become independent, in-fact in every business you should have a mentor. Even my mentor had a mentor who taught him IPDA. When I talk about professional traders I am not talking about traders who can’t explain price delivery, not guys who trade chart patterns or Trendlines. I am talking about guys who subscribe to Bloomberg, Reuters, and so forth. It is a great setback to think you will excel without someone to guide you in this business.
I Trade Without a Trading Plan
It is believed that Notorious BIG did not write lyrics, he will just get in a studio and lay down a track, on the other hand 2 Pac wrote his lyrics and many more. Today 2 Pac is consider the best rapper ever lived (RIP Pac). 2 Pac was influential and his music had concept, his legacy will move on because his lyrics are still produced. If you write a plan, it is easy to scrutinize and develop it, overtime it becomes the best system.
Trading plan helps you to control risk and keeps you in check. All professional traders have a trading plan and they stick to it. For you to best follow your trading plan, you must quit all this other forex trading groups you in, you only need to be in a group that is created by your mentor(s), do not have mentors who use different strategies, you will be confused. Even if you are in your mentor’s group, follow your trading plan, do not compete with anyone except the person you were the last trade, remember your mentor can also be wrong, he/she is human, no one is immune to a loss.
It is better to invest your money in getting information that matters, something that you can pass down to your kids and they find value in it. Imagine at 60 years asking your children to bring you a laptop so you can show them their inheritance and they found Trendlines and moving averages. Trading is more sophisticated than that. God bless you in your forex career development.
Seventy-seven years ago, on the evening of December 2, 1943, the Germans launched a surprise air raid on allied shipping in the Italian port of Bari, which was then the key supply centre for the British 8th army’s advance in Italy.
The attack was spearheaded by 105 Junkers JU88 bombers under the overall command of the infamous Air Marshal Wolfram von Richthofen (who had initially achieved international notoriety during the Spanish Civil War for his aerial bombardment of Guernica). In a little over an hour the German aircraft succeeded in sinking 28 transport and cargo ships, while further inflicting massive damage to the harbour’s facilities, resulting in the port being effectively put out of action for two months.
Over two thousand ground personnel were killed during the raid, with the release of a secret supply of mustard gas aboard one of the destroyed ships contributing to the death toll, as well as subsequent military and civilian casualties. The extent of the later is a controversy due to the fact that the American and British governments subsequently covered up the presence of the gas for decades.
At least five Batswana were killed and seven critically wounded during the raid, with one of the wounded being miraculously rescued floating unconscious out to sea with a head wound. He had been given up for dead when he returned to his unit fourteen days later. The fatalities and casualties all occurred when the enemy hit an ammunition ship adjacent to where 24 Batswana members of the African Pioneer Corps (APC) 1979 Smoke Company where posted.
Thereafter, the dozen surviving members of the unit distinguished themselves for their efficiency in putting up and maintaining smokescreens in their sector, which was credited with saving additional shipping. For his personal heroism in rallying his men following the initial explosions Company Corporal Chitu Bakombi was awarded the British Empire Medal, while his superior officer, Lieutenant N.F. Moor was later given an M.B.E.
Remember: bricks and cement are used to build a house, but mutual love, respect and companionship are used to build a HOME. And amongst His signs is this: He creates for you mates out of your own kind, so that you may find contentment (Sukoon) with them, and He engenders love and tenderness between you; in this behold, there are signs (messages) indeed for people who reflect and think (Quran 30:21).
This verse talks about contentment; this implies companionship, of their being together, sharing together, supporting one another and creating a home of peace. This verse also talks about love between them; this love is both physical and emotional. For love to exist it must be built on the foundation of a mutually supportive relationship guided by respect and tenderness. As the Quran says; ‘they are like garments for you, and you are garments for them (Quran 2:187)’. That means spouses should provide each other with comfort, intimacy and protection just as clothing protects, warms and dignifies the body.
In Islam marriage is considered an ‘ibaadah’, (an act of pleasing Allah) because it is about a commitment made to each other, that is built on mutual love, interdependence, integrity, trust, respect, companionship and harmony towards each other. It is about building of a home on an Islamic foundation in which peace and tranquillity reigns wherein your offspring are raised in an atmosphere conducive to a moral and upright upbringing so that when we all stand before Him (Allah) on that Promised Day, He will be pleased with them all.
Most marriages start out with great hopes and rosy dreams; spouses are truly committed to making their marriages work. However, as the pressures of life mount, many marriages change over time and it is quite common for some of them to run into problems and start to flounder as the reality of living with a spouse that does not meet with one’s pre-conceived ‘expectations’. However, with hard work and dedication, couples can keep their marriages strong and enjoyable. How is it done? What does it take to create a long-lasting, satisfying marriage?
Below are some of the points that have been taken from a marriage guidance article I read recently and adapted for this purposes.
POSITIVITY Spouses should have far more positive than negative interactions. If there is too much negativity — criticizing, demanding, name-calling, holding grudges, etc. — the relationship will suffer. However, if there is never any negativity, it probably means that frustrations and grievances are not getting ‘air time’ and unresolved tension is accumulating inside one or both partners waiting to ‘explode’ one day.
“Let not some men among you laugh at others: it may be that the (latter) are better than the (former): nor let some women laugh at others: it may be that the (latter) are better than the (former): nor defame nor be sarcastic to each other, nor call each other by (offensive) nicknames.” (49:11)
We all have our individual faults though we may not see them nor want to admit to them but we will easily identify them in others. The key is balance between the two extremes and being supportive of one another. To foster positivity in a marriage that help make them stable and happy, being affectionate, truly listening to each other, taking joy in each other’s achievements and being playful are just a few examples of positive interactions. Prophet Muhammad (PBUH) said: “The believers who show the most perfect faith are those who have the best character and the best of you are those who are best to their wives”
Another characteristic of happy marriages is empathy; understanding your spouses’ perspective by putting oneself in his or her shoes. By showing that understanding and identifying with your spouse is important for relationship satisfaction. Spouses are more likely to feel good about their marriage and if their partner expresses empathy towards them. Husbands and wives are more content in their relationships when they feel that their partners understand their thoughts and feelings.
Successful married couples grow with each other; it simply isn’t wise to put any person in charge of your happiness. You must be happy with yourself before anyone else can be. You are responsible for your actions, your attitudes and your happiness. Your spouse just enhances those things in your life. Prophet Muhammad (PBUH) said: “Treat your women well and be kind to them for they are your partners and committed helpers.”
Successful marriages involve both spouses’ commitment to the relationship. The married couple should learn the art of compromise and this usually takes years. The largest parts of compromise are openness to the other’s point of view and good communication when differences arise.
When two people are truly dedicated to making their marriage work, despite the unavoidable challenges and obstacles that come, they are much more likely to have a relationship that lasts. Husbands and wives who only focus on themselves and their own desires are not as likely to find joy and satisfaction in their relationships.
Another basic need in a relationship is each partner wants to feel valued and respected. When people feel that their spouses truly accept them for who they are, they are usually more secure and confident in their relationships. Often, there is conflict in marriage because partners cannot accept the individual preferences of their spouses and try to demand change from one another. When one person tries to force change from another, he or she is usually met with resistance.
However, change is much more likely to occur when spouses respect differences and accept each other unconditionally. Basic acceptance is vital to a happy marriage. Prophet Muhammad (PBUH) said: “It is the generous (in character) who is good to women, and it is the wicked who insults them.” “Overlook (any human faults) with gracious forgiveness.” (Quran 15:85)
COMPASSION, MUTUAL LOVE AND RESPECT
Other important components of successful marriages are love, compassion and respect for each other. The fact is, as time passes and life becomes increasingly complicated, the marriage is often stressed and suffers as a result. A happy and successful marriage is based on equality. When one or the other dominates strongly, intimacy is replaced by fear of displeasing.
It is all too easy for spouses to lose touch with each other and neglect the love and romance that once came so easily. It is vital that husbands and wives continue to cultivate love and respect for each other throughout their lives. If they do, it is highly likely that their relationships will remain happy and satisfying. Move beyond the fantasy and unrealistic expectations and realize that marriage is about making a conscious choice to love and care for your spouse-even when you do not feel like it.
Seldom can one love someone for whom we have no respect. This also means that we have to learn to overlook and forgive the mistakes of one’s partner. In other words write the good about your partner in stone and the bad in dust, so that when the wind comes it blows away the bad and only the good remains.
Paramount of all, marriage must be based on the teachings of the Noble Qur’an and the teachings and guidance of our Prophet Muhammad (PBUH). To grow spiritually in your marriage requires that you learn to be less selfish and more loving, even during times of conflict. A marriage needs love, support, tolerance, honesty, respect, humility, realistic expectations and a sense of humour to be successful.
The past week or two has been a mixed grill of briefs in so far as the national employment picture is concerned. BDC just injected a further P64 million in Kromberg & Schubert, the automotive cable manufacturer and exporter, to help keep it afloat in the face of the COVID-19-engendered global economic apocalypse. The financial lifeline, which follows an earlier P36 million way back in 2017, hopefully guarantees the jobs of 2500, maybe for another year or two.
It was also reported that a bulb manufacturing company, which is two years old and is youth-led, is making waves in Selibe Phikwe. Called Bulb Word, it is the only bulb manufacturing operation in Botswana and employs 60 people. The figure is not insignificant in a town that had 5000 jobs offloaded in one fell swoop when BCL closed shop in 2016 under seemingly contrived circumstances, so that as I write, two or three buyers have submitted bids to acquire and exhume it from its stage-managed grave.