There’s really no rigid beginner/ intermediate/ advanced progression as a trader. Your strengths are someone else’s weakness, and you’re certainly entering into this from your own unique circumstances.
Icarus was designed for people entering at various points along the path towards financial independence with Forex trading. Here are some of the common entry scenarios and situations. Identify yourself as closely as you can, though you’ll likely see some overlapping points.
You want to start trading, but have no idea where to begin
You know some technical analysis, but can’t make money consistently
You have invested in a number of trading courses and books, but can’t find a method that suits your personality or schedule
You may be a successful trader, but your trading is consuming your life
We are all at a different points in our lives, and the best part about learning to trade is that you can get into it at any time. It’s never too late or too early to start learning the right approach.
This is a skill that will be useful for the rest of your life. And even after that you can pass it on to your children, if you wish.
Right Here, Right Now[divider]
As of this moment, it’s likely you’re joining Icarus from one of the following situations:
You work for a company and exchange your time for a regular paycheck. This takes up the majority of your waking hours and you’re determined to build yourself a new steam of income that will eventually replace and exceed it.
In Transition/ Unemployed
You’ve found yourself out of a job, seeking a job, or in that special place where you’re living off what you have until you’re forced to do something about it. You have the luxury of time, but not the luxury of financial security or peace of mind.
You work for clients on a full-time or part-time basis. You get paid for projects, and likely live off this money until the next one becomes necessary. You may call this owning your own business, but in a very real sense, you’re still an employee of it. You still have multiple bosses controlling your time and income – they’re just called clients.
Experienced Stock/ Commodities trader
You want to add currencies to your portfolio.
Business Owner/ Real Estate Investor
You own one or more businesses and want to build a new income stream.
You want a new source of income.
Each one of the above situations implies certain attributes about your time, comfort, financial security, and overall control of your life. Consider this set of qualities and whether your current situation supports each.
Our ultimate result, with everything we’ll be doing here, is to allow you to have all of these things rather than exchanging some for others.[divider_padding]
Do you rely on someone else for your income? Whether it’s your boss, client, or even your parents – do you have skills that ensure you’ll never have to rely on anyone for cash?
Of the 24 hours you have each day, how many of those do you fully control? How many hours are owned by someone else, or by something you’d otherwise not be doing?
Are you free to move wherever you please, whenever you please? Does your income rely heavily on where you’re located?
Is your time and energy spent on building someone else’s business? Are you building your own financial future, or someone else’s?
The most critical measure is autonomy, which is an aggregate of all other factors. True autonomy means you possess absolute control over your circumstances and trajectory. You’re ruled by no one, fully own your time, and possess stability in all of it. As traders, autonomy is our ultimate goal.
What You’re Bringing to the Game[divider]
It’s likely you’re coming into this with something – you’re working or studying in a field related to business or finance, or perhaps you know someone who’s a trader. Or maybe just the raw desire to figure it all out.
These are the most common scenarios for the people I’ve gotten to know over the last few years. Each has its own set of pros and cons, but none will prevent you from getting the results you want.
The Fresh Start
You’re brand new to trading, finance and economics. You’re fed up with your current situation or means of producing income and need to make the transition to something you can rely on for the rest of your life.
You don’t necessarily know anything about technical indicators, margin or trade management. All you know, with absolute certainty, is the outcome you want: low-effort income from a trading business.
Believe it or not, assuming you have persistence and drive, you’re likely to be in an ideal position. Your head isn’t buzzing with assumptions and conflicting ideas. You haven’t been jaded by quick-fix Forex products found on all corners of the web. You’re fresh. You have the beginner’s mind, and that’s a tremendous asset here.
Learning to trade/ Just started trading
You have an idea of what trading is about, and have searched for strategies online. You may have bought a couple of trading books and videos, or attended a trading course or two. Despite your efforts, you realize you’re struggling to make money trading.
You’ve spent time trading for yourself, a bank, or fund. Even though you may have seen some success, you’re demanding more or want to start trading for yourself. You want to grow your own money-making portfolio, on your terms, rather than build someone else’s wealth. And you realize you’ll need a way to do it without a whole research team backing you up. Thankfully, this will be a lot easier to do that what you’re probably used to.
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