kieranperez

Escaping Wage Slavery - Dont Psyche Yourself Out

33 posts in this topic

I want share this as this is something I really feel (and I imagine at least a few others on here as well) whenever I watch @Leo Gura video on escaping wage slavery:

Its probably going to be REALLY hard but don’t psyche yourself out. I do this a lot. I get so revved up on this energy of “get me free!!!” That I actually do feel like this flight or fight response sense of being chained down like I truly am a physical slave to the point where my mind turns on me and turns this whole thing into something that feels like an impossible task. 

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Remember, the journey is the best part, not the destination.

I have some fond memories of fighting to escape wage slavery. It was tough but also fun.

And remember, freedom isn't all good. Too much freedom comes with its own problems.


You are God. You are Love. You are Infinity. You are Leo.

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That's where mindfulness comes in handy.

You notice your defensive reaction and it not only disipates the unpleasant feeling, but also heals the wound which this impulse has been meant to protect.

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It feels great when you watch yourself actually stepping up and making the changes.  You’ll inspire yourself as you conquer each little change.

Edited by Joseph Maynor

firstphilosophy.org

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Lately I have been thinking how a 9 to 5 might be a good thing, I mean you have a structure and people around you things get handled for you. You don't have to pay attention to creating a structure for yourself. You don't get as lonely sitting at home grinding away at a mighty goal. Not having a 9 to 5 brings a lot of extra psychological strain, which you can't put into other things.

Not that escaping wage slavery is not good, but give props to how a job actually gives you a lot of free mental space and structure. I think people have this halo effect around working for yourself. But I been doing it for a while and came to the conclusion that the grass is always greener on the other side. Something I still have to work on.

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I've pretty much escaped wage slavery, by trading cryptocurrencies and stocks like a madman for few years. If i compare myself working at a normal job, this is definetly better fit for me, but you get used to everything. This is not my life purpose, this is just necessary grind to have enough money to do what i want.  If trading is something you're interested in, it's one way to escape wage slavery. But it's really difficult to have winning trades continuously, most people lose 90% of the time. So be smart about it, read books, absorb all the info you can. Start with small sum of money and practice alot. 

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7 hours ago, dude said:

Lately I have been thinking how a 9 to 5 might be a good thing, I mean you have a structure and people around you things get handled for you. You don't have to pay attention to creating a structure for yourself. You don't get as lonely sitting at home grinding away at a mighty goal. Not having a 9 to 5 brings a lot of extra psychological strain, which you can't put into other things.

Not that escaping wage slavery is not good, but give props to how a job actually gives you a lot of free mental space and structure. I think people have this halo effect around working for yourself. But I been doing it for a while and came to the conclusion that the grass is always greener on the other side. Something I still have to work on.

To add to this point;

I like being apart of the 'wage slavery'. If I didn't work in my job in working on something meaningful, I'll feel a great lack of fulfilment and disconnection to much of society. 

I always thought that if I won the $10 million dollar lottery, and had the time and money to escape needing a paycheck, I would still keep working at my job. I currently have all the money and time to do all the things that make me fulfilled. Yes, I am a wage slave, I'm not 'free', but freedom is chaotic and meaningless without structure. 

It is like a football player in a match is a 'slave' to the football game. They have to play the game out, and there are rules and conditions they must abide by, but they enjoy it and in fact makes the game meaningful. 

 

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15 hours ago, GeoLura said:

I've pretty much escaped wage slavery, by trading cryptocurrencies and stocks like a madman for few years. If i compare myself working at a normal job, this is definetly better fit for me, but you get used to everything. This is not my life purpose, this is just necessary grind to have enough money to do what i want.  If trading is something you're interested in, it's one way to escape wage slavery. But it's really difficult to have winning trades continuously, most people lose 90% of the time. So be smart about it, read books, absorb all the info you can. Start with small sum of money and practice alot. 

I am interested in how you managed to escape the wage slavery by trading crypto currencies and stocks,

can you specify how you did that?

I have been interested in it so long,but still couldn't figured out how to start. I would like to have a try really.

Thank you.

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4 hours ago, Jeff Zhang said:

I am interested in how you managed to escape the wage slavery by trading crypto currencies and stocks,

can you specify how you did that?

I have been interested in it so long,but still couldn't figured out how to start. I would like to have a try really.

Thank you.

Sell for more than you buy. Thats all it comes down to.

Knowing what to buy and when to sell is an analyst game that you ultimately gotta figure out. Follow news, market trends, potential etc

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Be careful with get rich quick schemes. They often go bust and leave you worse than you began. Trading stocks and currency is super dangerous. Because fundamentally you aren't offering any value. You are just trying to be a leech. So karma will get you.


You are God. You are Love. You are Infinity. You are Leo.

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It is the law of attraction in a sense because what enables change is you being fixated on making the change.  You ever notice that anything that you really want to do, you'll just do it?  So, it's taking your detailed plan for career change and tee-ing that up as the thing you're always thinking about and that you really want to do.  Strategically, that's what Life Purpose Work is helping people do.

Edited by Joseph Maynor

firstphilosophy.org

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2 hours ago, Leo Gura said:

Trading stocks and currency is super dangerous. Because fundamentally you aren't offering any value. You are just trying to be a leech. So karma will get you.

@Leo Gura If you don't approach it strategically then in that case it can become dangerous.

It's no different from flipping items or houses. Flippers don't really offer value as well, but if they continuously learn and come at it with a strategic approach then they can make quite a bit of money.

Lot of respect for you Leo, but have you actually done any of this yourself to have a valid opinion?

 


"Intellectual growth should commence at birth and cease only at death." - Albert Einstein

 

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I've done pretty well trading fiat currencies with leverage, but Leo is right it doesn't offer any value to anyone. You are just chipping off money from a 5 trillion dollar daily market.  Also there is a lot of risk involved, if you don't know what you're doing you might as well throw away your money, but you do have control over how much you actually risk at one time. This guy explains it pretty well...

 

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"Wage slavery" is a state of mind which infects so very many from all economic strata that yes, the system is geared towards conditioning people into having. Chasing monetary gain like all materialistic pursuits as a means of identity and meaning enslaves one to self interest and is an unfulfilling craving whether one is a billionaire or flat broke.

 

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5 hours ago, 7thLetter said:

@Leo Gura If you don't approach it strategically then in that case it can become dangerous.

It's no different from flipping items or houses. Flippers don't really offer value as well, but if they continuously learn and come at it with a strategic approach then they can make quite a bit of money.

Lot of respect for you Leo, but have you actually done any of this yourself to have a valid opinion?

My dad lost many tens of thousands of dollars daytrading. It's an idiotic pursuit.

The stock market is deliberately rigged against you by giant hedge funds with insider information. You are playing a rigged game against the house.

Stock trading is basically legalized gambling.

But you know best.


You are God. You are Love. You are Infinity. You are Leo.

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1 hour ago, Leo Gura said:

My dad lost many tens of thousands of dollars daytrading. It's an idiotic pursuit.

The stock market is deliberately rigged against you by giant hedge funds with insider information. You are playing a rigged game against the house.

Stock trading is basically legalized gambling.

But you know best.

Also people who daytrade are trading against professional traders and algorithms/machine learning built by buildings filled with people.

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@Leo Gura Yeah I had a feeling that your opinion is based on what your Dad was doing. One of your episodes I listen to the most is the “Money Psychology” episode. And like you mentioned, any bad investments are deeply psychological. For someone to lose big in the markets means they don’t use proper risk management, and they haven’t developed the technical skills. That’s all it boils down to really. Not saying professionals never lose out, but at best you can develop your skills to win 60-80% of trades.

I don’t trade the stock market so I can’t really say much about it, I trade Forex, which is even bigger than the stock market, which means its less likely to be manipulated. The way I think about is, its not a 1v1 with you against the hedge funds like you say, its a free-for-all vs everyone. It’s not like they know that Johnny over here placed a $2 trade and they will manipulate the market against Johnny’s favor to take his $2. Thousands of trades are taking place and they can’t move the market against everyone, that would be impossible. People have different opinions on whether the market is bullish or bearish. And the market will move up or down regardless, with or without you. So that’s when you as a trader can jump in and ride the waves. Plus trading doesn’t have to mean daytrading, it can mean buying one day then selling a week later. For example, placing a buy on Bitcoin when it was $1000, and selling at $1100 counts as a swing trade. It would go to $1100 with or without you, congrats you made $100.


"Intellectual growth should commence at birth and cease only at death." - Albert Einstein

 

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@7thLetter Well said. It's not rocket science to make a living as a trader. It can be compared to gambling like Leo did, if you don't know what you're doing. If you have a good understanding of technical analysis, market trends, always have a calculated plan on every trade: when to enter and when to exit, pull information from multiple sources etc. then it's far from gambling.

I've found that i'm really good at trading falling wedges. https://www.investopedia.com/university/charts/charts7.asp
It's easy to find these patterns, add it to my watchlist and wait for a breakout, then calculate the exit price. When you enter a trade always set up a stop loss, you can't lose tens of thousands if you put up a stop loss for like -2%. If your stop loss get triggered almost every time, you're doing something wrong and then it's easy to step back and see what you're missing. In these trades my win/lose ratio is like 90% this past year.

Never daytrade if you aren't really fucking good. I daytrade cryptos sometimes, because when they move with good volume, it happens so fast. Like Bitcoin Cash moved 150% in two days this month. So yeah.. the mistake people do is that they trade way too much. I was the same when i first started, when you win big and feel like you can't lose.

Trading is risky, but it can be a good way to make money. Do your research if you're thinking about trying it. Maybe set up trades without money, when you're learning the basics of technical analysis.
 

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11 hours ago, GeoLura said:

Trading is risky, but it can be a good way to make money. Do your research if you're thinking about trying it. Maybe set up trades without money, when you're learning the basics of technical analysis.

@GeoLura Yeah I admit it, I sounded like a complete idiot in the last post, now it seems like you’re assuming that I don’t know anything about trading. Just to put it into context, it was a rushed post while I was on my lunch break at work because I wanted Leo to reply quickly but he ended up not doing so. Plus I’m not trying to impress anyone so I don’t care about sounding “smart.” And that’s also me being Mr. Keyboard warrior. Not a lot of thought went into it.

I’m definitely not a professional, but definitely not a complete newbie. Although I guess I still would call myself a beginner even though I’ve been studying this stuff for around 2 years now. Got introduced to Forex in 2016 because there’s a Forex-related MLM company, pretty funny. Wasn’t interested in the MLM but was into the idea of trading. Studied the theory of technical analysis for a year on babypips.com, but haven’t applied any of it. 2017 came, found out about Cryptocurrencies and that’s when my ego was out the roof. Literally was up $4k on NEO/Antshares and I thought I was the shit. Got super greedy, lost everything in December.

2018 is the year I actually take trading seriously. Opened a live account, but currently back to practicing on a demo account.

And in my opinion I think a 2% stop loss is way too high. 1% is good enough.

My trading style is based on this video: 

 


"Intellectual growth should commence at birth and cease only at death." - Albert Einstein

 

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The day you realize you don't need shit, shit stops owning you.

You are a slave if you want to think if your self as that.

If you go deeper and realice that we are all nothing, one of nothingness, no limits, all. 

Then why even work....

 

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