What Lessons Can Hollywood Teach Us About Forex Trading?
January 18, 2021
The Hollywood industry has touched upon many real-life topics, and trading is no exception. Since the late 1920s, moviemakers have been inspired by the market, and they continue to do so 100 years later. Are they motivated by people who make it in the trading industry, or the market itself? It’s probably both. Many famous movies that we know are about making millions on Forex. Of course, every film offers a different perspective, but they all have a couple of common things. Here are the main ones that make or break someone’s character, and they represent what it takes to be in the industry (both good and bad things).
The first thing you are going to learn from the movies is that the trading market industry is ruthless. You can’t simply ask for a mentor if you want to succeed as a broker. You have to show knowledge or something else. By something else, it’s often about the person itself having passion and potential. If someone is good at communicating with people, knows what to say, and is interested in money, he will probably be the right candidate for a broker. Most importantly, he will be tested continuously to improve and has to show initiative. Being innovative and coming up with solutions on the spot is also what you will often see as the main characteristics of a Hollywood broker or any person that is investing or trading.
No Pain No Gain
We mention passion and potential. Many protagonists in these movies show immense drive and willingness to go beyond what anyone else would usually do to achieve their goal. It never means it is going to be easy. Even if they get a mentor, that person is typically the one who can recognize the potential, which is something brokers in the real world usually don’t have the time to. It’s mostly up to investors to spot that quirk within someone. More often, the protagonist will go the extra mile to show everyone how capable they can be when nobody else believes them. This is usually manifested by extensive learning about the topic even if they didn’t know much about it, having a knack for people is essential (it can be learned, but it is tough). They are persistent when others are telling them they aren’t good enough. Of course, they will have their moments of doubt and depression, but the main character usually learns more, works more, and shows better results: all work and no play, at the beginning at least.
Be Careful What You Wish for
Hollywood movies about Forex often show us the bad side of it all. They show things like what happens if you are too reckless or put work above everything else in life. Passion is good, but when it becomes an obsession, then it is dangerous. Even “workaholics” are simply a term for someone addicted to work because they are afraid of failure of any kind and stick to what they know they can do the best. The Wolf of The Wall Street (2013), taught us from a real-life example what it’s like when you go overboard and don’t know when to stop yourself. Life can easily tip into obscenity and recklessness, resulting in losing your family, yourself, and ultimately what you had. Boiler Room (2000), showed us how much money can affect us mentally if we are rushed into heaps too fast. That’s only one thing among many others, such as spiraling into addictions of various sorts, even crime.
Moral of the Story
As much as Hollywood portrays Forex as some certain evil if you are too long in it, there is a good point they make – everything you do in life will fall apart if you have a tunnel vision. The Wolf of The Wall Street didn’t end up badly. Yes, he lost his fortune, but nowadays, Jordan Belford is leading a crime-free life, he teaches people how to sell (legally) worldwide and has two books and a podcast. Another thing to consider is that money isn’t something you play around with, whether you are an investor or a broker. The beginning is always on point – learn, be persistent, don’t give up. The rest of it is on you – you are responsible for your actions, and you need to know when and where to draw the line. That way, you will be able to make a profit in the long run.