The Risk That Comes With Financial Independence

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I had a heart to heart group discussion today relating to financial independence and I had to take some steps back to how my life was back in the days and how I decided to take this bold steps in building up my finance from scratch. It all happened when a lady came to me with a 20$ coupon she received on bybit after registering since she is somehow new to the crypto space and she had no idea what to do about it and she even had the intention of probably withdrawing it. I had to check out the coupon criteria first of all before knowing what to say to her, it wasn't withdrawable but can only serve in form of fee if she only trade futures on the platform. She ask what Futures was all about and I had to ask her if she know what forex trading is, she said yes and I simply told her, future is the forex trading of crypto currency, me and my other guys burst started laughing.

Our experience with both future and forex trading was really a bad one and it was because we were striving to have a stand financially right from school days, my eyes opening to the trading world after losing my school fee to a trader who talked me into trading for me since according to him, he is a professional trader, I had no idea but I just need a way to earn more money with my capital, It all ended in tears when he started cooking up different stories without coming straight that he lost everything. I had to start learning how to trade personally, taking different trading course, watching youtube videos just to understand the Technical and Financial analysis part of trading, went from trading demo account to blowing up some real account I decided to fund. It wasn't an easy journey and I went from crying anytime I lost my fund to just taking heart or not having any emotion when I burn any account and at the end I stopped, told her all this and she was just saying wow, this isn't easy as they use to say.

I do see how guys also make a lot of complain after cutting their financial career short due to Overconfidence, especially traders at times, they are somehow too confidence with their trading and so whenever their trading is going against them with the hope it will go their way later on, overconfidence at times even go hand in hand with greed because the major reason whey most traders lose out is because of this two main things. What also scare me the most is what we called Market Volatility, the major reason why people do say Non Financial Advise is because of how volatile the market it, it is stable and even some stable coins can always de-pegged. With my years in cryptos, it has always been one rise or fall on each journey, some tokens have increased more than 100% and some have fell down back to -100% and with all this some people have lost a lot in such cross fire especially some of my guys, I just couldn't shout when someone told me he lost more than 4k$ which he was saving in crypto during the bull run and he couldn't convert till the bear market set in and he had to sold all later in huge lose because he was in need of money

Building up oneself financially especially when it is from scratch is always hard at times because it all came with different kind of risks at attached to it but with adequate knowledge and proper management, once can attain the financial independent state.