Umar Ashraf 8 Figure Trader Talks Millions, Dubai, and Women!

The video by The Journey Podcast is an interview with Umar Ashraf, a successful trader who talks about his journey to success, his mentality of staying the course, and his experiences in Dubai and with women.

The video is an interview with Umar Ashraf, an 8-figure trader based in Dubai.

The hosts discuss Umar's success in trading and his mindset towards achieving success.

Umar emphasizes the importance of consistency and staying the course for a long period of time in any game you play.

He also talks about his childhood and how he always wanted to be different from what everyone else was doing.

The hosts also touch on the topic of Dubai and personal development.

• Interview with Umar Ashraf, a successful trader
• Longevity and staying consistent is key to success in any game
• Umar's mentality is to stay the course and give himself a fair shot
• Trading is a high-risk game and it's important to have a long-term mentality
• Trading involves immediate results and reactions, which can cause people to go on tilt
• People who played Call of Duty and were good at it were able to make crazy decisions with no emotion
• Umar Ashraf was fascinated by the concept of being able to make money from his computer and having an endless opportunity amount
• Day trading is not as profitable as people think and it's important to do research before getting involved
• Umar thinks it's important to have a good relationship with women and treat them with respect

8 Figure Trader Talks Millions, Dubai, and Women! - YouTube

Introduction

• Interview with Umar Ashraf, a successful trader
• Discussion about his journey to success, mentality, and experiences

Longevity and Staying the Course

• Longevity is key to success in any game
• Staying consistent and showing up is important
• Many people quit after a short period of time
• Umar's mentality is to stay the course and give himself a fair shot
• He decided to give trading a solid five years
• Non-stop consistency for a long period of time is necessary

Instilling the Mentality

• Umar always wanted to be different from what everyone else was doing
• He pays attention to what others are doing and tries to do it better
• He looks at the journey of successful people and realizes it takes time
• He decided to give trading a fair shot and stay the course
• He looks at where he'll be in the future and realizes he can accomplish more in a longer time period
• Initially, he wanted overnight success but realized it takes time

8 Figure Trader Talks Millions, Dubai, and Women! - YouTube

Trading and Risk

• Trading is a high-risk game
• Initially, Umar lost a lot of money trying to rush the process
• There are stakes involved in trading, especially when interviewing big guests
• Scrapping an episode is not a big deal, but losing money in trading is
• It's important to have a long-term mentality and not rush the process
• Umar's mentality is to stay consistent and give himself a fair shot

The Psychology of Trading

• Trading involves immediate results and reactions, which can cause people to go on tilt.
• People need to have a good understanding of themselves to deal with the immediate reactions.
• Trading is a lot about psychology and knowing how to respond to things.
• Emotions play an internal part of us as human beings, and we can't turn them off and on.
• We need to learn how to manage and deal with emotions in certain situations.

Transferring Skills from Video Games to Trading

• People who played Call of Duty and were good at it were able to make crazy decisions with no emotion.
• As humans, we can't get rid of our emotions, but we can learn how to manage them.
• It comes down to how we take our emotions and use them in the right way.
• It's about controlling ourselves and developing ways to deal with impatience and anger.
• Getting angry and taking stupid trades won't work, but controlling anger and fixing the issue will.

Why Trading?

• Umar Ashraf was fascinated by the concept of being able to make money from his computer and having an endless opportunity amount.
• He wanted to be involved in the world of trading somehow.
• He looked at the wealthiest people in the world and saw that the top two or three people were hedge fund managers.
• He couldn't be a hedge fund manager, but he could trade the markets.
• The more money he put in, the better he was, and the more money he could make.

The Reality of Day Trading

• After meeting a lot of day traders, Umar Ashraf realized that no one was profitable or making more money from selling courses than actually trading.
• Day trading is very sexy, but it's not as profitable as people think.
• People need to be careful and not get caught up in the lustful aspect of day trading.
• It's important to do research and understand the reality of day trading before getting involved.
• There are other lanes, such as high ticket sales and SMMA, that people can explore to make money.

What got Umar into trading and why people suck at it

• Umar was fascinated by the amount of money hedge fund managers make
• He didn't get into trading because of social media or flashy cars
• People suck at trading because they try to cut corners and don't have a defined process
• Most traders don't track their trades or have a good understanding of themselves
• Trading exposes all of your flaws, especially emotional ones

How Umar stays composed while trading

• Umar has days where he goes on a massive downfall, but they don't happen as much anymore
• He approaches the market differently now and knows what he's risking before taking a trade
• Umar meditates for 15-20 minutes a day, which has helped him a lot
• Going to the gym and taking care of his sleep also play a big role in his mental health
• Umar neglected his sleep and physical activity when he was younger, which impacted his ability to make choices and regulate his emotions

Umar's experiences in Dubai

• Umar loves Dubai and thinks it's a great place to do business
• He's met a lot of successful people in Dubai and has learned a lot from them
• Umar thinks Dubai is a great place to network and build relationships
• He's had some crazy experiences in Dubai, like getting into a Lamborghini with strangers and going to a party on a yacht
• Umar thinks Dubai is a place where you can make a lot of money, but you have to be careful not to get caught up in the lifestyle

Umar's experiences with women

• Umar thinks it's important to have a good relationship with women and treat them with respect
• He's had some bad experiences with women in the past, but he's learned from them
• Umar thinks it's important to be honest and upfront with women
• He's currently in a relationship and thinks it's important to have someone who supports you and understands your lifestyle
• Umar thinks it's important to find someone who shares your values and goals

Mental and Physical Health

• Successful people prioritize their mental and physical health.
• Younger generations often neglect their health and wonder why their personal lives are struggling.
• Hustle culture promotes working hard, but it's important to work effectively and smartly.
• Taking care of your health, especially your mind, leads to better decision-making and productivity.

Starting Out as a Trader

• Umar Ashraf started trading stocks at 18 years old with $20,000 saved up.
• Day trading is difficult without capital or funding.
• Other routes to making money include SEO, agency services, and marketing.
• Find something you're interested in and learn as much as possible for the first year without worrying about making money.
• Once you have knowledge and experience, start getting clients and customers to build momentum.

Experiences in Dubai

• Dubai is a great place to visit and network with successful people.
• Umar Ashraf has met many successful traders and entrepreneurs in Dubai.
• Networking is important for building relationships and learning from others.
• Dubai has a great nightlife scene, but it's important to balance work and play.
• Umar Ashraf enjoys the luxury lifestyle in Dubai, but it's not necessary for success.

Women and Relationships

• Umar Ashraf has had many experiences with women, but he doesn't prioritize relationships over his career.
• He believes in being honest and upfront with women about his priorities.
• Success attracts women, but it's important to find someone who supports your goals.
• Umar Ashraf doesn't believe in settling down until he achieves his financial goals.
• He advises young men to focus on their careers and not get distracted by relationships.

Early Trading Experience

• Started with fixing and flipping iPhones for profit.
• Invested $20,000 in the market and made a profit of $35,000.
• Lost most of the profit and realized he needed to take trading seriously.
• Spent the next two years burning through money and focusing on the market.
• Had an "aha" moment after two and a half years of trading.

Staying the Course in Trading

• Trading is about runs of good and bad periods.
• As time goes on, good periods become longer and bad periods become shorter.
• Maximize good runs and prepare for bad ones.
• Stay cash when the market is flat and avoid making stupid choices.
• Biggest profit in a day was around $300,000 from Amazon or SPY.

Success in Trading

• Biggest profit in a year was $7.5 million.
• Video proof of the profit is available on his Instagram account.
• About $6 million of the profit came in the last four or five months of the year.
• Had a big month in August and rode the momentum until December.
• Risked $40,000 to $50,000 per trade during the successful period.

Experiences in Dubai and with Women

• Visited Dubai and enjoyed the luxurious lifestyle.
• Met women who were interested in his success and wealth.
• Realized that some women were only interested in his money.
• Now focuses on finding genuine connections with women.
• Believes that success in trading can attract the wrong kind of people.

Reasons for Shooting for the Stars

• Two reasons for going into podcast and content creation.
• Pushing boundaries and achieving freedom.
• Money is a way to keep score in business.
• Pushing boundaries is a never-ending process.
• Passion projects become possible after hard work.

Pushing Boundaries Beyond Money

• Everyone has a different idea of what "the stars" means.
• Money is not the only measure of success.
• Pushing boundaries is about going beyond what is believed to be possible.
• Business is a way to keep score, but there is no end point.
• Enjoying what you do makes it easier to keep pushing boundaries.

Competing at a Higher Level

• Competition is a driving force in business and life.
• Money is a way to measure success, but there is always a higher level to reach.
• Competing at a higher level requires consistent effort and improvement.
• There is always a new challenge to tackle.
• Success is not a destination, but a journey.

Chasing Money and Finding Happiness

• Chasing money can lead to a sense of emptiness.
• Success does not always bring happiness.
• Depression can set in after achieving financial success.
• Money is not the only source of happiness.
• Success is about finding a balance between financial success and personal fulfillment.

Chasing Money

• Chasing money can lead to a feeling of emptiness and lack of purpose.
• After a certain point, making more money doesn't improve your life much.
• Depression can set in when you hit a wall of "what's next?"
• Self-reflection and understanding your why can help you find purpose beyond money.
• Journaling and reading can also aid in self-reflection.

Finding Purpose

• Going through a period of depression can lead to self-discovery.
• Getting into religion and understanding your why can help you find purpose.
• Gratitude for opportunities can also help shift perspective.
• Umar's why is to educate and help people in Pakistan, particularly by building schools.
• Living an entrepreneurial lifestyle can provide a sense of purpose and progress.

The Purpose of Life

• Living a meaningful life involves having a purpose.
• People often overcomplicate their purpose.
• Having a purpose can be as simple as doing something you enjoy or are good at.
• Umar's purpose is to help people in Pakistan and to keep pushing his own boundaries.
• Living an unfulfilling life can lead to a sense of emptiness and lack of purpose.

Entrepreneurial Lifestyle

• Living an entrepreneurial lifestyle can provide a sense of purpose and progress.
• Many people settle for a life they don't enjoy.
• Living an entrepreneurial lifestyle involves working on a side hustle and pursuing passions.
• Umar enjoys podcasting and talking about trading.
• Living an entrepreneurial lifestyle can be a no-brainer for those seeking purpose and fulfillment.

Identifying and Fulfilling Your Potential

• Everyone is given a different skill set or ability from God.
• Our job as humans is to fulfill that ability to its full potential.
• Identifying your purpose and why will help you navigate your skill set.
• People at the top like Jay-Z have a beautiful and inspirational message.
• People often listen to their teachers who tell them they are not intelligent or capable.

Building Momentum and Confidence

• It's not always about what you're capable of, but your will to do what you want to do.
• People who are willing to put in extra work and time separate themselves from others.
• People who want to be rich but lack work ethic won't achieve their goals.
• Wiring your brain to do hard things makes everything else easier.
• Find things you hate and start doing them to build momentum and confidence.

Handling Friends and Money

• People start coming around when you touch money.
• People in your life have to match up to your level, not just financially.
• People who drain your energy and don't offer value should be cut off.
• Don't give handouts, create opportunities and make people work for them.
• Don't stop and help everyone who asks, make them put in the work.

Dealing with Leeches and Haters

• People will hate on you when you start achieving success.
• Don't let haters bring you down, use their negativity as motivation.
• Don't let leeches take advantage of you, make them work for opportunities.
• Stay focused on your goals and don't let anyone distract you.
• Surround yourself with positive people who support and uplift you.

Friendship and Discounts

• Friends are often the first to ask for discounts.
• People are willing to pay full price for value and sacrifice.
• Real friends will buy at full price.
• It's different if someone can't afford it.
• Majority of people spend on clubs and clothes but not on your business.

Money and Dating

• Gold diggers are a real thing, but there's a fine line.
• Money makes life easier for women, and it's a plus.
• Women want to be taken care of, and it's not a bad thing.
• It's not just about the money aspect.
• Guys need to pick up on the main thing.

Moving to Dubai

• Umar Ashraf has spent time in Miami, California, and New York.
• Dubai is safe, clean, and has the best environment and lifestyle.
• Opening a trading floor in Dubai makes sense from a legal and tax standpoint.
• It's not a lifetime move, but he plans to spend the next two to three years there.
• The current situation in America is scary, and Dubai is a better option.

Living in Dubai

• Dubai is a safe, clean, and cool environment with a big role played by taxis.
• The weather is consistent year-round except for June to August/September, which is hot and dry.
• It's not the most favorable place to be during those times, but you can go out to Europe for a few months.
• You have to be making good money to be comfortable living in Dubai.
• There's a big financial hub in Dubai, and work-wise, it's great.

No Taxes in Dubai

• There are no taxes in Dubai, which is why a lot of people from Europe move there.
• For non-US citizens, you have to live there for about six months to get that benefit.
• For US citizens, it's more complicated, and there are more legal structures to set up.
• In the future, they might start increasing taxes.

Cars and Trading

• Cars are a lot of work and burn a lot of money.
• Taking care of them is a headache, and they break down a lot, especially supercars.
• Tradezilla is a journaling and analytic platform for traders.
• 90% of traders enter the market without understanding that it's a business.
• They don't track their trades or focus on their metrics.

Favorite Place to Live

• Dubai is becoming a big financial hub, and it's great work-wise.
• It's safe, clean, and has a big nightlife.
• There's a balance of everything, depending on what you want.
• It's Umar's favorite place to live.
• He wouldn't mind staying there year-long if he could.

The Importance of Journaling

• Journaling is a crucial element in Umar's life, both personally and professionally.
• Journaling helped Umar identify patterns in his trading behavior and make necessary changes.
• Tradezilla is a software that helps traders journal their trades and treat trading like a business.
• The idea for Tradezilla came from Umar's personal experience with journaling and his dissatisfaction with existing trading platforms.
• Umar believes that Tradezilla will have a positive impact on the future of trading by helping traders become more disciplined and successful.

Pushing Boundaries and Overcoming Obstacles

• Umar believes in pushing his boundaries and doing things that are out of the norm.
• He had no background or experience in software development but decided to create Tradezilla anyway.
• Umar faced many obstacles and setbacks, including a terrible development team and losing hundreds of thousands of dollars.
• He took a six to eight month break to reflect and decide whether he wanted to continue pursuing Tradezilla.
• Umar ultimately decided to push through and figure it out, believing that the only way to achieve his goals is by pushing his boundaries.

Success in Dubai

• Umar moved to Dubai to pursue trading and found success there.
• He attributes his success to his discipline, hard work, and willingness to learn from his mistakes.
• Umar also believes that Dubai's culture of entrepreneurship and innovation played a role in his success.
• He encourages others to take risks and pursue their dreams, even if it means leaving their comfort zone.
• Umar believes that success is achievable for anyone who is willing to put in the work and stay disciplined.

Women and Relationships

• Umar discusses his experiences with women and relationships, including his past mistakes and what he has learned from them.
• He believes that honesty and communication are key to a successful relationship.
• Umar also emphasizes the importance of self-reflection and personal growth in relationships.
• He encourages men to treat women with respect and to focus on building meaningful connections rather than just pursuing physical pleasure.
• Umar believes that a successful relationship requires effort and commitment from both partners.

Developing a Tool for Retail Traders

• The tool helps retail traders become profitable by analyzing their data in the best possible way.
• The company spends a lot of money on development every month to make the tool better.
• The goal is to offer real valuable help to traders and help them develop good habits and systems.
• The marketing strategy is all organic, and the product markets itself if it's good.
• The company is family-owned and has no outside investors.

Staying the Course and Overcoming Challenges

• There were countless times when Umar wanted to quit the project, but he kept going.
• Our mind is designed to avoid danger, so we need to analyze the risk and find ways to mitigate it.
• Don't be reactive and give yourself time to think about solutions.
• Journaling and laying out the problem can help you find creative solutions.
• It's important to have the right mentality to succeed.

The Importance of Mentality

• Umar believes that mentality is what separates successful people from the rest.
• He gives an example of his uncle, who is a multi-millionaire despite not being educated and not speaking great English.
• The right mentality can help you overcome challenges and achieve success.
• It's important to analyze the risk and find ways to mitigate it.
• Don't be reactive and give yourself time to think about solutions.

Personal Traits of Successful People

• Successful people share similar personal traits.
• Umar believes that honesty is important.
• Having the right mentality is crucial.
• Not quitting is also important.
• Successful people are part of the one percent because they have the right mindset and work hard.

Mentality of Staying the Course

• Successful people have the same resources and opportunities as others, but they are relentless and disciplined.
• They identify risks and are disciplined in pursuing their goals.
• Immigrants who didn't have top-notch education but had a strong mindset and level of thinking are successful.
• Being relentless towards what you want, not settling, and having a strong belief in yourself is important.
• Continuously learning and not overestimating yourself is crucial.

Changing Friends and Avoiding Peer Pressure

• If your friends are not aligned with your goals, you need to get rid of them.
• Friends can hold you back, and peer pressure can lead you to make bad decisions.
• Don't get peer pressured into doing things you can't afford.
• Give up short-term pleasure for long-term gains.
• Having a small circle of friends who understand you and your intentions is important.

Umar Ashraf's Friends and Relationships

• Umar's three best friends are his sisters and Ahmed.
• He doesn't have many friends and has a small circle of people he talks to on a day-to-day basis.
• He believes that having a good understanding and not wanting to feel misunderstood is important in friendships.
• He doesn't want people in his life who take his advice the wrong way or don't understand his intentions.

Continuously Progressing and Changing Environments

• Continuously progressing and changing environments is important for success.
• Don't settle and always strive for more.
• Don't compare yourself to others and focus on your own progress.
• Change environments when you need to and don't get stuck in the same place.
• Playing the long game is important for success.

The Importance of Surrounding Yourself with the Right People

• Having a close group of people in your life is important.
• It's important to have an environment of growth and people you trust.
• Being alone is important to learn who you are and what you want.
• Having the right people in your life is more important than having a lot of people.
• Many people waste time in toxic relationships because they don't know how to be alone.

The Importance of Building Your Life Before Focusing on Love Life

• Building your life should be your number one priority.
• Having your finances in order is important for your mental health and relationships.
• As a guy, money adds a level of confidence.
• It's important to take care of yourself before focusing on a love life.
• Many people waste time in relationships when they should be building their lives.

The Importance of Being Alone and Knowing Yourself

• Being alone is important to learn who you are and what you want.
• Don't let another person influence who you are and what you like.
• It's important to have your own belief system and not let others influence it.
• Many people don't know how to be alone and get caught up in toxic relationships.
• Being alone can help you avoid wasting time in relationships that aren't right for you.

The Importance of Money and Confidence

• Money adds a level of confidence for men.
• Having your finances in order is important for your mental health and relationships.
• Money is important for basic needs as a guy.
• Money empowers men in the same way beauty empowers women.
• Money can help men feel more confident and successful.

Interview with Umar Ashraf

• Umar Ashraf is a successful trader who talks about his journey to success, his mentality of staying the course, and his experiences in Dubai and with women.

Watch the video on YouTube:
8 Figure Trader Talks Millions, Dubai, and Women! - YouTube

Read also:

• 7 things I learned from making $15 Million as a Day Trader.... (smartworldoptions.com)
• Inside the Mind of Umar Ashraf | 8-Figure Trader & Entrepreneur (smartworldoptions.com)