Episode Transcript
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Speaker 1 (00:00):
I want to talk today about becoming your own bank
and how through becoming a good trader you can achieve
this for yourself. Let's get into that and more right now.
(00:20):
Hey the Traders is Andrew Mitcham here at the Forest
Training Coach with video and podcast number six hundred and six. Today,
I want to talk about being independent. I choose to
become independent with the way that I live, and we
grow the vast majority of our own food. We have
access to our own meat, we catch our own fish.
(00:42):
I've got beehives for our own honey, and we like
to grow and produce as much food at home as
we can because it allows us to be independent. On
alongside that, you've got all the obvious health benefits. So
that's a personal choice. Now when it comes to money,
(01:03):
I also personally choose to become as independent as I can.
And just last week I was interested in purchasing a
rural property with my wife, and I thought, well, let's
go and ask the bank to see if they would
(01:23):
help finance it, because you know, money is relatively cheap,
and if you can get finance at sort of five percent,
let's say, and you're making let's say, you know, sort
of five percent in a month through your trading. Well,
you're better off borrowing from the bank. So we approached
the bank to see if they would help us for
this property. And I was amazed that one of the
(01:46):
first questions I got asked was about my age and
my retirement plans. Now I had zero retirement plans or
anything years old, and it was it just struck a
chord with me, and it's like, Wow, these banks, you know,
(02:07):
they go through these processes of ticking boxes, and whether
it's AI induced, I'm not sure, but rather than the
good old days and you used to go to your
bank manager, they go, hey, Andrew, what do you need
the money for? Oh, I think you can do that.
We'll back here. That'll work, you know, in simplified terms,
that's how it used to be. Today it's no longer
(02:30):
like that. And I just found it really off putting
that the bank's more interested in my age and my
retirement plans are, which I had zero retirement plans because
I love doing what I'm doing and I'm only fifty two.
Then whether the property was a good property or not,
or how much cash are we going to inject in it,
or what's the property going to make as a rental
(02:53):
or anything like that, and so it just basically kind
of gave me that reminder of, hey, do you really
want to be in the way that things should be
done these days? Because it seemed to me that if
you don't fit the narrative and you don't fit the model,
then they're not so much interested in you. And it
(03:16):
again it came back to my trading. It's like become
your own bank. So if you're slightly more mature and older,
you know, in the fifties and beyond, like I am,
then you may also find that if you need borrowing
for any investment, property or whatever you need it for,
things today are a little bit tougher than what they
(03:38):
used to be. If you're watching this and you're young,
then obviously you've got time and you know experienced to come.
But you've got time on your side. So whichever you are,
whether you're older and you're in retirement or heading towards retirement,
or not even thinking of retirement, or you're in your twenties,
(03:58):
this applies to everybody. Why don't you instead of relying
on the way that you know we're told we should
do things, Why don't you think differently, like we do
with our food and we do with our finances, of
self like creating your bank yourself through your trading if
(04:19):
you know what you're doing, and you can do that
through obviously the quality of your trading, but not only that. Is,
if you can make consistent gains through your trading on
your own account, then of course you've got options. These days,
you've got prop firms. You don't just need one prop
firm account. You can have multiple prop firm accounts. You
could sell trading signals, you could potentially, depending on legalities,
(04:42):
trade for other people. There's multiple ways in which you
can put your trading skills to good use and over time,
with compounding, etc. Become your own self funding bank. And
I think that should appeal to many many people. Like
I said, if you're older, you're going to find the
(05:04):
traditional banks maybe a little bit harder to get funds
from them. If you're younger, use your youth, use your
time and your likely computer skills to give yourself time
to learn how to do this property so that you
can over time compound and build wealth for yourself. So
(05:26):
you don't have to fit into the norm and the
narrative that there seems to be these days. The other
thing I'd like you to have a look at is
just this week, we've just launched two things. One is
our new thirty minute master class. Have a look at it.
There's lots of information about how you can trade properly,
how you can use a small amount of funds and
(05:48):
compound over time to become your own bank, or if
you want to go down the prop from track then
there's various options there. So how I look at our
new master class, it's on demand about thirty minutes long,
So set aside thirty minutes, turn off your phone and
everything else and just an emails and just sit and
watch it for thirty minutes. You're going to get a
massive amount of benefit from it. And I'll per link
(06:10):
here from that. Also, if you watch that webinar, you
will see on there that we've just launched a new
pricing structure. So the price to the course fee out
here at the First Training Coach has always been a
one off fee and it's been like that for over
sixteen years, but we have just changed that to try
and help more people come on board with a lower
(06:30):
entry fee and then a subscription, an optional monthly subscription
going forward. So I hope that helps a lot of
you out there, because I know that you know funds,
whether it's boring like we've tried to do a tight
or whether it's just cost a living in general. So
have a look at that master class. Go through it.
Like I said, it's about thirty minutes long, and you'll
see on there the new pricing structure that we've got
(06:52):
and you'll gain lots of information from that masterclass itself.
If you're out there looking for a really good broker,
I'll put a link here to Blueberry Markets. I can
highly recommend them. I use them every day. The empty
five platform that they have has a vast number of
forest markets plus other non forest markets like your metals,
(07:13):
your indices, your cryptos, your commodities, etc. And not only that,
there are a great bunch of people to deal with.
So I'll put a link to Blueberry Markets here as well.
If you're watching this video on something like YouTube, please
don't forget to like and subscribe and share so you
get notification of future videos. And if you'd like me
to discuss any trading topics or in general life topics
(07:35):
like today, just shoot me an email Andrew at the
Forest tradingcoach dot com or leave a comment down below.
Thanks again. I see this time next week. Bye Finet.