My 10 Sacrifices to Seven Figures at Age 28

GM. This is Currencies & Coffee – where we trade espresso shots for market shots, all in a day's work.

Here’s what we have covered today:

☕FED Holds Rates, Wall Street Rallies and the RBA Decision

☕ My 10 Sacrifices to Seven Figures at Age 28

☕Market Set to Rock: EURAUD, GBPCHF, USDCAD

🗞️Movers & Shakers🗞️

Here's a quick and easy rundown of the financial happenings from last week and a sneak peek at what's coming up. We'll keep the complex terms at bay and focus on the essentials so you can get the gist without the financial fuss.

The Week That Was:

➡️ Fed Holds Rates Steady: The Federal Reserve members unanimously voted to keep interest rates between 5.25% and 5.5%. They're open to future increases, but recent comments suggest they might pause on making borrowing more expensive.

➡️ Stock Market's Strong Performance: The S&P 500 surged by 4.9%, and the Nasdaq 100 jumped by 5.2%, marking one of the best weeks for stocks this year. This uptick is partly due to a more cautious stance from the Fed and easing concerns over global conflicts.

➡️ Bond Yields Dip: Investors have been buying up bonds, leading to a significant drop in the interest rates on 10, 20, and 30-year bonds. This week saw one of the largest declines in these rates for the year, measured in basis points (a basis point is one-hundredth of a percentage point).

➡️ Japan's Currency Policy: The Bank of Japan slightly relaxed its strict control over bond yields, but not as much as some had hoped. This caused the USD/JPY exchange rate to shoot above 151, indicating a stronger U.S. dollar against the Japanese yen.

The Week Ahead:

➡️ RBA's Policy Decision (November 7 at 3:30 am GMT): The Reserve Bank of Australia is on the fence about raising interest rates. Last time, they decided to keep things steady, but there's chatter about a possible hike. If they bump the rate by 0.25% to 4.35%, it could mean the Aussie dollar will see some action. But if they decide to hold off, the Aussie dollar might take a hit.

➡️ U.K. Q3 GDP (November 10 at 7:00 am GMT): The UK's report card on economic growth is due, and it's expected to show no growth compared to the last quarter. But don't count the British pound out just yet. With the Bank of England possibly hitting a pause on rate hikes, the pound could still have some pep in its step.

➡️ China's Top-Tier Data Releases (October 9 at 1:30 am GMT): After some not-so-great manufacturing reports, all eyes are on China's upcoming trade and inflation data. The trade surplus might get a boost, and inflation is expected to see a slight uptick. These numbers might not cause big waves right away, but they're important for getting a sense of the global economic mood.

My 10 Sacrifices to Seven Figures at Age 28

At the tender age of 20, standing at life's crossroads, I made a vow that would chart the course of my future—I was going to be a millionaire. This wasn't a child's daydream; it was a declaration of war against the mediocrity I found myself in. What followed wasn't just a journey but a transformation that demanded not just change, but sacrifices—ten, to be precise. Here's the essence of each sacrifice that carved my path from humble beginnings to a seven-figure reality over 8-years.

1. The Luxury Illusion
For many years, I lived by a stringent rule—if it wasn't essential for my survival, trading or personal development, it didn't make the cut. No latest tech, no designer labels, no luxury watches. My philosophy was straightforward: earn, invest, and manage the rest wisely. My bank account often looked barren, but that's because I was investing heavily in my future even when I couldn't afford it. It's about legacy over luxury, endurance over extravagance.

To build wealth, you must be disciplined to sacrifice temporary pleasures and invest a significant percentage of your income.

2. Curating My Inner Circle
Life's too short to spend with those who don't spark your ambition. After 20, I made tough decisions, cutting ties with negativity and mediocrity. I surrounded myself with the ambitious, the driven—people who challenge you to grow. Your network is your net worth, and I invested in a circle that would multiply in value.

3. The Great Distraction Purge
Yes, I owned a TV, but it gathered dust more than it broadcasted shows. And social media? I've tailored it strictly for business. These platforms, while engaging, are designed to consume your most precious asset—time. If you're serious about wealth, you need to be just as serious about where you direct your attention. Less entertainment, more strategizing.

4. Sleep: The Currency of the Committed
Sleep is a luxury the committed entrepreneur often affords in small doses. I wasn't advocating for sleep deprivation but rather for the wise allocation of waking hours. If you're snoozing while the world is hustling, you're losing out. Trim the excess sleep, and you'll find the time you never knew you had—time that can be invested in your dreams.

5. The End of Excuses
At 20, I declared an end to the blame game. No more pointing fingers at the economy, the job market, or my background. Success isn't about the hand you're dealt; it's about how you play your cards. It's about taking control, stepping up, and owning every aspect of your journey.

6. Facing Down the Fear Monster
The business arena is no place for the faint-hearted. I felt the fear—oh, I felt it—but I chose to move forward anyway. I embraced the possibility of failure because it was a small price to pay for the chance at a life of abundance. Fear is just the gatekeeper to success, and I was ready to kick down the gate.

7. The Myth of the Quick Buck
Wealth is a marathon, not a sprint. There's no express lane to financial freedom. Those 'overnight successes'? They're usually a decade in the making. I learned early on that the only shortcut to success is the long road of hard work, persistence, and patience.

It’s a humorous analogy, but the message is clear: good things take time.

8. Silencing the Inner Critic
Self-doubt is a luxury the aspiring millionaire cannot afford. I had to silence that nagging voice that whispered of failure and replace it with a roar of self-belief. It's about conviction, about knowing that others have walked this path and triumphed, and so can you.

9. The Wealth of Knowledge
By 20, I realized that if I wanted to be rich, I had to study wealth. I devoured books on finance, investment, and entrepreneurship. These weren't just books; they were treasure maps, and I was on a quest for gold. Knowledge is the currency of the rich, and I was investing heavily.

10. The Work Ethic Equation
There's no sugarcoating it: the path to riches is paved with relentless hard work. There are no free rides, no easy passes. You've got to be willing to grind, sacrifice, and do what others won't today so you can live as others can't tomorrow.

Currency Trading: Your Financial Revolution
These sacrifices were my rite of passage, but the journey doesn't end here. The next frontier? Currency trading. It's not just a side hustle; it's a strategic battlefield where the disciplined and the knowledgeable can thrive.

Are you ready to join the ranks of the financially empowered? Our Forex Mastermind Newsletter is your gateway to a world where you're the master of your fate, the captain of your soul, and the architect of your wealth.

SIP,  LAUGH,  TRADE 😁

📈LATTE LINEUP📈

-EURAUD-

HTF (8-HR): The price was previously moving sideways on the Higher Time Frame (HTF) before a new lower low emerged, marking the onset of a bearish trend. At present, the price appears to be retracing towards the previous broken support, which is expected to serve as resistance. Additionally, this coincides with the 50% Fibonacci level, creating a strong area of confluence for the next downward move. To confirm the sellers' return, we should wait for a bearish rejection or engulfing candles before considering an entry on the Lower Time Frame (LTF).

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LTF (1-HR): Once we have received all necessary confirmations of the Higher Time Frame (HTF) we want to see, the bearish pressure should translate to a shift in market structure on the Lower Time Frame (LTF). This shift would be reflected in the price action, changing from higher highs and higher lows to lower lows and lower highs. After a break of a LTF support, I will look for a retest that is confirmed by bearish rejection or engulfing candles to execute a sell position. I will then place my stop loss above the previous high and target the previous HTF low.