Quote: (05-11-2014 05:20 PM)Beyond Borders Wrote:
^ What do you mean when you say you "learned" business?
Was there a specific area of business you focused on?
Yes, I was rather vague was I not? I did not means general principles of business, because I already run a business (which unfortunately does not transition well to a mobile income). Nor did I really mean finance, at least not within its generally accepted meaning.
I meant the more complex financial aspects of running a business or investing, e.g., more sophisticated aspects of risk management, maximizing cash flow, probabilities, and other investment concepts and strategies, just to name a few. In other words, business concepts that 99% of business owners do not think about, much less use (although many of them might intuitively use those principles without thinking about it).
It is probably best to provide an example. Here is a video that might blow your mind. Don't feel bad if you do not understand much of it. I had to watch it twice myself to fully absorb the lesson. It involves trading binary options, which I do not do.
Just try to absorb the general concepts, i.e., that most investors feel entirely comfortable borrowing money when there is only a 50/50 chance of successfully trading any given stock, but those very same investors will absolutely refuse to borrow money to trade options even when there is a 95% risk of success when trading certain strategies because they believe that those strategies are too complex.
In other words, most people would rather be a monkey at a keyboard with a fifty percent chance of success rather than devote an hour a day to learning something new (which goes back to the point of this thread). In fact, what is described in the video is exactly how that woman made her $41 million (from post #18). Damn, I love thinking outside the box!
The reason that this video resonates with me is because my forex trading style consists of high probability trades with a low-risk profile. Even then, it is tough slogging. It took her five years, studying options strategies an hour per day, just to get into "the zone" before beginning her march towards that $41 million.
https://www.youtube.com/watch?v=N_Gm0e-ntsk