Hey Trader,
Have you ever read George Clason's The Richest Man in Babylon? It's a classic.
Written in 1926, it's essentially a collection of parables set in ancient Babylon that teach personal finance lessons.
In Chapter 2, the main character — Arkad, Babylon's self-proclaimed richest man — meets with two Babylonians, Kobbi and Bansir.
Kobbi and Bansir hope to glean some wisdom about how Arkad became so wealthy and why neither of them can ever seem to get to that level.
Arkad tells them how when he was younger, he worked for a wealthy money lender named Algamish who taught him a priceless wealth-building lesson: save at least 1/10 of the gold he earned and let his copper (also money back then) work for him by investing wisely.
Arkad first gave his savings to a bricklayer to invest in diamonds — only for those diamonds to become worthless.
Determined to try again, Arkad next loaned some money to a shieldmaker to collect interest…
But he squandered his earnings on fancy feasts.
Upon returning to Algamish, the wealthy money lender scolded him for blowing money on parties instead of putting his earnings to work.
For the next two years, Arkad learned to continue investing at least 1/10 of his income and reinvest his investments' earnings into more of those investments.
Today, we call this paying yourself first.
Eventually, Arkad could move on from his moneylending job and amass substantial wealth by following this simple rule.
Moral of the story:
Before you do anything else with your money, make sure you pay yourself first.
For traders, that means placing those trades that have the highest chances of putting money back into your pocket.
Then, throw a slice of those winnings back into the same kinds of trades.
Rinse, repeat, and you have a good chance of becoming the richest man or woman (or close to it) in your city.
That said, there's one modern-day trading addition I'd make to Arkad's lesson:
Follow a proven strategy for scoring consistent wins — such as the trading system I use to rake in up to $34,680 every 13 days.
Click here to learn how you can follow along with my trades and "pay yourself first."
To your trading success,
| | | | Anthony Speciale Jr Editor & Chief Investment Strategist, Big Energy Profits | | | | team1@hawkeyetraders.com
bigenergyprofits.com
Call us: (888) 233-8598
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