You have to show people that you have value with those tools so that they will hire you. And then when they hire you, you gotta just keep on building the business, and eventually, you’re either going to get paid, because maybe, that’s you business owner, or another builder is going to hire you, so you’ll get a job. But again, you want to get in the building sector, you gotta do some things before anything’s gonna become a reality, before you get paid or get hired. Now finally let’s say that, hey, this whole stock trading things, bitcoin online casinos, betting tips that thing’s kind of interesting.
You gotta have a good recommendation for you, and then finally, someone has to hire you. And at this point in time, you’re gonna get a badge. So hey, you wanted to become police, you had to go through some stuff, but before it could become a reality and you could get that badge, you know, you had that barrier to entry. Let’s take a look at another example. Let’s say you want to be a builder. You want to get into the construction business.
For this one, something like this. Now, you may be thinking, what are you talking about? All you gotta do is buy some tools and you’re ready to go. Well, if you’re thinking like that, perfect. This video is definitely for you. But for a builder, think about it.
You gotta get tools. You gotta learn how to use tools. And then here comes the tricky part.
So you want to be a trader. Okay, so for this, there is our barrier to entry. What is this right here? This is called the application. Application to what? Well, just run a Google search, or a Yahoo search for online broker, and you’re gonna have all sorts of things that pop up.
And all you gotta do, submit an application, put some money in, and what? Hey, hey mom, I’m a trader. And that’s the reality of the situation. This is why people fail, because, to be a trader, there are no regulatory authorities.
Think about it, regulatory authorities up here, well, you have government, you have just kind of common sense, you know, you’re not just gonna let somebody off the street become a brain surgeon. Same here, regulatory authorities, there’s rules. You gotta go through police academy, you gotta learn all that stuff on how to be a professional. This one, you may be able to just say, “Well all you have to do is buy a hammer, “and then you’re good to go.” Well really, well think about it, economics speaking, just because you have a hammer, you have to learn to turn that hammer into a service. Because economics, nobody’s gonna pay you anything unless you have something to give them.
And in the case of a builder, you need to be able to use your hammer in order to provide a service, and then be able to get paid. So there’s still stuff right here. You gotta be able to do stuff. You gotta be able to provide service to somebody else. Here, do you have to provide service to anybody else? No.
Do you have to learn how to operate within the rules of the law? Do you have to learn how to operate and just understand, can I arrest this person right now, or can’t I? Can I shoot this person right now, or shouldn’t I? No, that doesn’t apply here.
Do you have to worry about harming anybody’s life? Nope. So, all that’s keeping people from getting to the reality, is an application. Now, what did all these other people have to go through?
Education, training, all sorts of things, so they could learn how to be good within this reality. Just because you have an idea, doesn’t mean that all of a sudden, in reality, you’re gonna be good at it. You have to go through the barrier to entry. You have to learn how to be good at it, so when you do reach reality, you actually know what you’re doing.
Same thing here. Except it’s not the same thing because, literally it’s idea, I want to be a trader, fill out an application, hey mom, look, I’m a trader. I can buy stock, I can sell stock, I can do options, I can do forex, I can do futures, you know, I can do all that stuff.
But when you don’t get any education or training, is it a surprise that people don’t succeed? I mean, look at it like this. Let’s say we wiped away all this. Would you be shocked, if you saw in the news, surgeon does open-heart surgery on somebody, and they died.
Newsflash, and then it says, the punch line, or the kicker of the story is, the person was not educated. They never went to medical school, they never did anything. Would you be surprised?
you’d say, “That person needs to go to jail. “Why were they operating on somebody “when they had no idea what they were doing?” So again, I would probably argue, these people should probably go to jail. Not a real jail, but a financial jail because why in the world are you putting your money on the line, when the only thing you’ve done, is filled out an application.
It just makes no sense. And I’m not trying to throw stones at other people, because this was me right here. For me it was a little different. I originally got into mutual funds.
And then I started to watch stocks and said, “Hey, that looks good.” So I sold my mutual fund, and then I just hopped right in here and said, “Hey, I’m a trader.” and then, long story short, I started to lose money. But luckily for me, it finally dawned on me, wait a sec here, I gotta get educated.
I gotta get training. So, keep that in mind. All these other professions, you know, you can’t just have the idea and do it, but literally, trading, I really can’t think about that many other in the world where, literally all you have to do is fill out an application, and then all of a sudden, you’re at reality. Hey, I’m a trader all of a sudden. So be very, very careful of this.
This right here is the death trap. I mean, this is just, this difference of space here. All these other ones have these walls, but here’s the little wall here. This is the death trap. People get in and then they get frustrated. Oh, this stuff’s worthless, this is impossible.
Well of course it’s gonna be impossible to have brain surgery on somebody, or open-heart surgery, if you’ve never been trained. Of course you’re gonna be a terrible cop if you have no idea what the rules and regulations are. Of course you’re not gonna get any business, or nobody’s gonna hire you, if you don’t know how to use the hammer, if you don’t know how to use the blueprint.
So keep all that in mind, and, if you’re saying, “Oh wow!” Then, no problem, come back here and create a barrier to entry. Start to learn things, start to learn and train yourself how to become a proper trader, how to manage risk, and everything else in between.