Are You Educated and Financially Struggling?

GM. Currencies & Coffee here, turning market trends into your morning must-read.

Here’s what we have covered today:

☕U.S. And U.K. Inflation Plus China’s Data Dump

☕ 9 Reasons Why the Most Educated Still Struggle Financially

☕Breakdown of My $5,400 Loss & This Weeks Setups.

🗞️Movers & Shakers🗞️

Welcome to our financial segment, where we break down the latest market trends and upcoming economic events. Let's dive into what happened last week and what we can expect in the days ahead.

The Week that was:

➡️ Wall Street's Rollercoaster: The week started strong with an 8-day winning streak for Wall Street, marking its best performance in two years. However, a hawkish speech from Fed Chair Jerome Powell on Thursday reversed the trend, leading to significant drops in the S&P 500, Nasdaq 100, and Dow Jones.

➡️ Fed's Firm Stance: Powell's warning that the Fed might hike rates again if necessary caused bond yields to rise, particularly the 2-year yield, which is sensitive to policy changes.

➡️ RBA's Rate Hike: The Reserve Bank of Australia increased its cash rate by 25 basis points to 4.35%. However, the lack of commitment to future hikes left some traders disappointed.

➡️Oil Prices Dip: Concerns over demand from the US and China drove oil prices to a 3-month low.

➡️ China's Economic Woes: Consumer prices in China slipped back into deflation, highlighting the challenges in stimulating the economy.

The Week Ahead:

➡️ U.K. Jobs and Inflation Data (November 15, 7:00 am GMT): Expect updates on the U.K.'s labor market and inflation. A potential rise in unemployment and a slowdown in wage growth could impact the GBP, especially if inflation drops more than expected, fueling speculation of a BOE rate cut in 2024.

➡️ U.S. CPI and Retail Reports (November 15, 1:30 pm GMT): Key data releases include the U.S. CPI and retail sales. A softer CPI could reinforce bets on the Fed's peak rate, potentially weakening the USD. Retail sales data will be crucial in assessing consumer activity and overall economic health. Lower inflation or weaker consumer spending could lead to a softer USD as market participants adjust their expectations for future Fed rate hikes.

➡️ China's Data Dump (November 15, 2:00 am GMT): Watch for China's industrial production, retail sales, and other key indicators. These figures will provide insights into the country's economic health and could influence global market sentiment, potentially affecting risk sentiment and currencies tied to global trade.

9 Reasons Why the Most Educated Still Struggle Financially

Embarking on a journey that led me from the structured engineering world to the expansive skies as a licensed pilot, I've navigated the realms of academia and professional success. Yet, amidst this journey, earning a respectable $70,000/year out of university in my early 20s, I encountered a profound realization: traditional employment, for all its security, often means sidelining our deepest ambitions and dreams. This isn't just a theory; it's a reality I've lived.

Fast forward to today, and I live a life of true freedom, travelling the world for half the year, Residing in Dubai and a beautiful beach town, Burleigh Heads on the Gold Coast of Australia. I can live life on my terms generating over 7-figures income at the age of 28.

I can assure you none of this would be possible If I had remained a civil engineer or pursued my career as a commercial pilot.

Let's explore the nine crucial reasons why even highly-educated individuals can struggle financially, despite their impressive qualifications. It's a process of letting go of old beliefs, reconsidering our approach, and opening our eyes to the wealth-building opportunities that conventional paths often overlook.

1. The Financial Literacy Void
Our education system, while robust in academic disciplines, glaringly omits a crucial aspect: financial education. This oversight leaves many high-achievers in the dark about managing their money and growing wealth. The solution? Take the reins of your financial education. Immerse yourself in resources that teach the art of money management. This proactive approach can transform your hard-earned income into a foundation for lasting wealth.

2. Lifelong Learning: The Real Education
Education isn't a phase; it's a continuous journey that transcends the classroom. It's about adapting, evolving, and staying curious in a world that never stops changing. Embrace this philosophy of perpetual learning, and you'll unlock doors to wealth and opportunities that a static education cannot.

3. Job Satisfaction vs. Wealth Creation
While a fulfilling job is commendable, it often limits your financial growth. Expand your vision beyond the 9-to-5 grind. Explore investments, side hustles, and entrepreneurial ventures. It's important to remember that just because you feel comfortable in your job it doesn't necessarily mean that you will become significantly wealthy. It's crucial to understand that comfort and wealth are not always synonymous.

4. Embracing the Wisdom of Youth
Degrees and diplomas shouldn't blind us to the insights of the younger generation, who often have their pulse on emerging trends and digital opportunities. Stay open to learning from them; their unconventional approaches could be your gateway to new cashflow avenues you may need to dig yourself out of your financial rut.

5. The Lifestyle Trap
Too often have I seen amongst professionals there's a common yet misleading narrative: equating high income with wealth. This misconception leads many to adopt a lifestyle that's more about appearances than actual wealth building. They invest in extravagant homes, luxury cars, and designer accessories, not realizing these are liabilities, not assets. These choices, while visually appealing, often result in decades of financial commitment, hindering real wealth accumulation.

It's crucial to differentiate between looking wealthy and being financially secure. True wealth isn't about the outward symbols of success; it's about making strategic decisions that grow your assets over time. Instead of succumbing to societal pressures to display wealth, focus on investments that genuinely build your knowledge and financial portfolio. This approach may not be as immediately gratifying, but it lays the foundation for lasting financial freedom and security.

6. The Mirage of Job Security
In today's volatile economy, job security is an illusion. Entrepreneurs, despite their risks, wield greater control over their financial destiny. Consider forging your path to financial independence, one where you're the architect of your fortune not reliant on anyone else.

7. Navigating the Student Loan Labyrinth
The student loan crisis in the U.S. is a stark reality that can't be ignored. Imagine this: the average graduate is saddled with over $37,000 in debt; for some, this figure skyrockets to a staggering $200,000 or even a million. It's a daunting prospect, being mired in debt for potentially the rest of your life, all because you sought higher education.

Reflect on this - back in 2010, it took a college graduate around seven years to clear their student loan debt. Fast forward to today, and that timeline has stretched to a decade. That's ten years of your life tethered to a financial burden, all for the sake of advancing your education.

Now, let's put things into perspective. The idea of plunging into six or even seven figures of debt to join the workforce and spend a good part of your life paying it off seems absurd. In contrast, when I tally up the total investment in masterminds, courses, and resources that propelled me to become a successful currency trader, it doesn't even brush the six-figure mark. This comparison highlights the disproportionate financial burden of traditional education paths versus the more economical, potentially lucrative, journey of skill-based pursuits like currency trading.

8. The Power of Collaboration
True wealth in the modern era is built through collaboration, not a solitary effort. Master the art of teamwork, leveraging diverse talents and ideas. This collaborative approach can exponentially boost your financial success.

9. Decoding Taxation
The wealthy often navigate the tax system to their advantage. Educate yourself on tax strategies to maximize your financial growth, turning a complex system into a tool for wealth accumulation.

Your Path to Financial Freedom: Currency Trading
These insights reveal a clear message: traditional paths and education don't always lead to financial success. But there's a solution that lies beyond the conventional—currency trading. It's not just a side hustle; it's a strategic move towards financial liberation.

SIP,  LAUGH,  TRADE 😁

📈LATTE LINEUP📈

- EURAUD- (-$5,400 Loss )

-AUDNZD-

HTF 8-HR: The price recently moved within a range on the Higher Time Frame (HTF). However, it broke the previous support and formed a new lower low, indicating a bearish trend. Currently, the price is retracing to test the previous lows and broken support as resistance. This area coincides with the 50%-61.80% Fibonacci level, making it a strong area of confluence for the continuation of the bearish trend. Let's wait for the emergence of selling pressure through the formation of bearish rejection or engulfing candles before looking for an entry point on the Lower Time Frame (LTF).

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LTF (30-mins): Once we receive confirmation from our HTF indicators, we aim to observe the selling pressure manifest into a shift in the market structure from higher highs and higher lows to lower lows and lower highs. After a break and retest of a lower time frame support that is confirmed by bearish rejection or engulfing candles, I will consider taking a sell position. My stop loss will be placed above the previous highs, and my target will be the previous HTF low.