Fun and exciting events to take a break from trading :D

Recent Travel Highlights: 1-Month Road Trip to US & Canada!

Roughly 3 months ago, I embarked on a one month road trip across the US and Canada, and here are the list of places I covered:

San Francisco, Silicon Valley, Salt Lake City, Jackson Wyoming, Grand Teton, Yellowstone, Rocky Mountains, Arches, Canyonland, Capitol Reef, Bryce Canyon, Zion, Grand Canyon, Death Valley, Yosemite, Devil’s Tower, Mount Rushmore, Lake Tahoe, Colorado National Monument, Les Vegas, Antelope Canyon, Horseshoe Bend, Toronto, Niagara Falls, San Antonio, Austin, Fort Worth (Texas)

It was a great chance for me to test out my new forex trading signals which allowed me to trade on the go, and I must say the results were pretty stunning.

 

 

Here are some photos from the trip:

Here is the full photo album for this trip: https://www.facebook.com/iamrecneps/media_set?set=a.10156477353543430&type=3

Good luck, and may the profits continue to flow in! 😀

Recent Travel Highlights: Philippines – Photos Are Finally Out!

Last month, I went for a short trip to the Philippines, firstly to Manila as an invited guest speaker at the Traders Fair Expo, before making my way down to Pico De Loro for some sun and beach. 😀

Currently, I am on a 1-month road trip in the US, and I will be sharing more insights and photos once I am back!

Along the way, I will be sharing some nuggets of wisdom on trading and investing on FB live: https://www.facebook.com/synapsetrading/

For those who love adventure and real-time updates, do follow me on Instagram and Facebook as well.
My personal FB: https://www.facebook.com/iamrecneps
My Instagram: https://www.instagram.com/iamrecneps/

 

Here are some photos from my last trip:

Here is the full photo album for this trip: https://www.facebook.com/iamrecneps/media_set?set=a.10156319709623430.1073741850.530303429&type=3

Good luck, and something really exciting is brewing! 😀

The One Key Trait which Separates Billionaires from Millionaires

*Note: This article is adapted from Quora (written by Ziad K Abdelnour, Wall Street Investor), and the source to the original article is listed at the end of the article.

Given the nature of my business, I am often asked by friends how does it feel like to deal with billionaires on a daily basis and what really makes them tick. Understanding after all the billionaires psyche is key in unlocking potential not seen anywhere else.

Well for a start…let me tell you that the main thing I realized after starting dealing with billionaires a decade ago is that billionaires tend to be really good at understanding systems of value creation and placing themselves into those systems more effectively than anyone out there.

Billionaires tend in fact to view the world as a tangibly fungible place. They see the world and want to move the puzzle pieces entirely around. They look for the faults in the ecosystem and identify massive holes and what could be added to fully capture that value. Then they spend about 10 years maniacally attacking the gap, organizing people, recruiting and generally creating a “cult”. They create a bible so to speak of values and ideas that bundle together in such an appealing way to attract the smartest people around (aka the future millionaires).

The billionaires I know don’t look forward to the weekend. They don’t drink. They work from 5am to midnight everyday including weekends. They don’t socialize with friends and they often mix friends and work. It’s all one big chain that supports their vision of the future and tying up the value. This is a different internal programming than most people have out there.

What do you do if you live in Trent, Michigan today? The auto plants around you are closing. It’s tough to be a billionaire potential person in that environment, but 100 years ago in 1912 it was actually possible. Ask the Ford family about this. So overall, location, timing, industry and proximity can be a major factor that comes into play. Tech is what’s happening now, but other industries happened before. 1950s Texas oil well drilling, 1910s autos Michigan, 2010s Silicon Valley. There is much to discuss, but the mindset pieces are the key and are universal.

So what to make of it all?

Well, I see billionaires having 3 types of focus

1) Inner/self: a keen sense of where you want to go, and self discipline to get there.
2) Empathy and the ability to inspire others.
3) Awareness of where the greater world is going, and what can be done to shape it.

The young millionaires I know seem to spend a lot of time working on 1 and 2, talking about emotional self discipline & company culture.

The billionaires & ultra high net worth power players have on the other hand mastered all 3, particularly the 3rd. They are the “unreasonable” ones who adapt the world to their vision. They are absolutely fearless. Perfectly willing to move mountains, change cultures, lobby regulation to achieve their vision and kick real ass..

Come to think more of it, billionaires would seem to have more in common with a homeless man on the street than a millionaire in the sense that they are completely unconventional and independent thinkers. They are outcasts from regular society and most probably will always be.

A millionaire might have more sense about her-himself and scale back to preserve wealth and “quit while they are ahead” sort of speak.

The billionaire mindset defies logic and decisions are made against all outside reason. They really don’t give a rat’s ass about the money and frankly have a clean detachment to it, therefore with that clarity of thought mixed with pursuing their passion, make most of the money.

One common theme that I see all the time in my billionaire friends and that’s the theme of failure before success. Self-made billionaires NEVER give up if they fail. They just go on and on and on until they stop failing and become a success.

Now that you know the basics of the billionaires psyche, go use those priceless tips to make a killing and never turn back.

Source: https://www.quora.com/Whats-it-like-to-be-a-billionaire/answers/7455932

 

The Top 5 Hobbies of Millionaires & Billionaires Around the World

Recently, I came across an interesting report by Wealth-X, which conducts research about the ultra-wealthy. In this report, they revealed the hobbies, interest and passions of the world’s richest people, and some are actually very different from what we think them to be.

The top 5 hobbies are as follows:

1. Philanthropy

It’s surprising that philanthropy features top in the list of hobbies of billionaires. While giving by the rich is often ridiculed by others (“Probably giving because they feel bad”), giving is a financial discipline that keeps the rich rich, and the not-so-rich to be on the right path to success.

Some ways to give your money:

Give regularly to a cause you believe in.

There are some people who frown upon giving to the poor just because they are poor, or perhaps you don’t have a very good perception toward charity. If that’s the case, find a cause that you believe in, and give regularly to it. Some causes that are worth giving to include humanitarian aid, sponsoring budding artists, supporting the elderly in society, giving to children’s education (or even a partial scholarship).

 

Giving is good for the heart.

The act of giving brings a healthy sense of awareness of where your finances come from; the more you serve and give, the more likely it is that people treat you with respect and have a positive attitude towards you, and your business grows.

Give physical gifts instead of financial gifts.

Some charities allow people to give physical goods instead of money. Doing your research, getting the right contacts, and finding a cause you believe in (and a sustainable one too!) requires patience and some hard work on your part, but it’s a worthy exercise. Although I personally give regularly to several charities, I do not like to publicise it.

 

2. Travel

Rich people travel because… simply because they can afford it. If you do have the spare cash, it makes sense to start travelling while you are on your way to financial success. This keeps you motivated, and you can always upgrade your holidays when your financial stability improves.

But the real challenge for most people is not just the money, but also the time. Given the nature of my job (trading), I have become the go-to person whenever any of my friends want to travel, and over the past few years I have travelled to 50+ countries while still making passive income along the way.

 

Christmas tree + Cape Town Flyer + National Geographic photo frame ???? #Christmas #southafrica #capetown

A post shared by Spencer Li ?? Synapse Trading (@iamrecneps) on

 

3. Art

Art is something that really enriches the soul, and adds flavour to life. And there is a wide range of selection to choose from, ranging from a few thousand to rare pieces that go into millions.

 

Personally, I have taken an interest in this after hunting for some pieces for my new house.

4. Fashion

I’m not much into the fashion scene, but the ultra-rich truly enjoy obtaining unique pieces of clothing.

Bespoke, boutique, and customized clothing are the rage for the ultra-rich.

While I don’t really splurge on costly apparel, I do recommend spending good money on key essentials, like a pair of decent dress shoes for men, or any other piece of clothing that you find to be something you want to pull out once in a while.

I also find that it’s a waste of money to spend on cheap clothing; it’s far more cost-effective to buy quality, reasonably priced products that can last you 5-10 years, than to buy-and-throw most of your wardrobe.

That said, I do enjoy the occasional indulgence, from quality brands like Mont Blanc, Paul Smith, AP, etc 😀

 

5. Politics

When people mention the word “rich” and “politics” together, Donald Trump is the first thing that comes to mind. Other people like Henry Ross Perot, Mitt Romney and Ronald Lauder are also rich people who forayed into the political scene, but with limited success.

 

What are your hobbies?

At end of the day, your hobbies and passion are activities that bring additional job and add colour to your life, so pick something that is fun, meaningful, and something within your means. (Not all hobbies have to be ridiculously expensive.)

On a personal note, my hobbies include hitting a gym (with my trainer), tennis (with my coach), yoga (private noob level class), reading (2-3 books a week), and not forgetting trading (15 mins a day). Oh, and travelling as well. I aim for 2-3 new countries each year. 😀

3 Little-Known But Powerful Life Principles That the Top 10% of Rich People Apply Daily

Wealth has little to do with your age. Insteadmaturity is the key factor in living successfully and accumulating wealth. I’ve seen 40-somethings and 50-somethings behave like school children, and 20-somethings with nothing in their pockets but with an attitude that would put accomplished men to shame.

The latter are the superstars of tomorrow. But what is the defining difference between these 2 groups of people?

The answer lies in their life principles, and here are 3 essential life principles that are adopted by all the world’s richest and most successful people.

FIRSTLY, IT’S NOT WHAT YOU HAVE IN YOUR POCKET, BUT WHAT ATTITUDE YOU HAVE IN YOUR HEAD.

Attitude makes the difference. I have met employers, bosses, CEOs over the years and one thing I’ve noticed is that many of them do not mind hiring fresh graduates, as long as they want to learn. Many people come straight out of school expecting a $4,000 salary and posh benefits, but the truth is, these jobs no longer exist. Instead, the business world is a harsh hustle and the reality may shock comfort-seekers and fun-loving teenagers.

Money is not the solution to your financial difficulties. It’s your mentality towards wealth and life in general.

aSource: Quotefancy.com

Of course, in capitalism, money speaks. But when you have nothing to your name, it’s your willingness to change and your enthusiasm that attracts the money eventually.

Entrepreneurs are people who create money out of thin air. They see a problem, and find a way to

If someone is hiring a trader, I want to see at least 5 years of dedicated self-study to the subject, outside of the classroom. I want him to be proficient in all asset classes, conversant with financial jargon, and at least know who Yellen and Largade is.

When an aspiring trader tells me that the FOMC rate caused a bull spike and reversal on the yen yesterday despite the announcement being ambiguous, I’m sold.

Rich people have raw passion, and I believe every successful entrepreneur would say the same.

What kind of attitude do you have?

SECONDLY, LEARN TO SERVE INSTEAD OF BEING SERVED.

Many people, young or old, squirm at the idea of having to serve someone more experienced than them. After all, they would say to themselves “I could jolly-well do what my boss is doing. Why is he paid 3 x of my salary?”

“That’s because he’s the boss, silly you.”

This is the truth: your boss did something, and had something that got him there. He paid his dues and did what it takes to get to where he deserves.

 

1Would you ‘wash someone else’s feet’ in order to learn and get where you want eventually?
Source: enemyofdebt.com

And learning to serve is a great way to buy into the shoes of high-rolling elites. Many wealthy people are humble, hardworking, honest, eager to learn, and much much more. When they see the same qualities they once had, you’re in.

Serve your boss. Look out for what the company you are in wants. Help others around meet performance goals. Learn to work for a vision greater than yourself, and don’t beat yourself up for having low pay initially.

When you serve, you grow as a person, you grow in maturity, you expose yourself to different experiences, and you’ll instantly stand out from the crowd.

 

LASTLY, BE FAITHFUL WITH LITTLE, AND YOU’LL BE GIVEN MORE.

I’m surprised by how many people I meet, fresh out of university, who have studied Economics, Finance, Corporate Accounting, Complex Derivatives, and many other subjects, but fail to manage their own income and expenses.

A person who manages his expenses at the age of 18 is impressive. People don’t look only for great results; the person’s habits will show.

I’ve seen youngsters who can pull out spreadsheets detailing their monthly income and expenses for the past 5 years, filed into category, along with savings plans, % completion on their financial goals, and many other cool details. These are the ones that will get ahead.

If you can’t manage $1,000 a month, don’t think that things will get better when you have $4,000 a month. If you are faithful with little, you will be faithful with much.

Have you ever heard of lottery winners striking it rich, and then lose it all because they were bad financial managers?

 

izI ain’t no saint, but Mother Teresa has some great wisdom on this issue.
Source: izquotes.com

 

Budget faithfully, keep to your current level of income, and stick to it. But always seek to grow your level of earning power.

TRUTH BE TOLD, MANY PEOPLE DON’T LIKE TO DO THE ABOVE 3 POINTS.

Sadly, I’ve also met adults in their 40s-50s who have lost hope. When the family comes, the kids come, and the crushing mortgage comes, the cracks will show in their financial discipline. These habits are formed over many years, and the lack of discipline and a humble attitude is to blame.

Keep at your inner-game and you’ll be much closer to your financial goals than you imagine.

Cheers! 🙂