What does Rocky and a Trader have in common? A real rags to riches story....

The market has settled down slightly as we approach the Jackson Hole summit where traders are looking for key decisions surrounding QE3 from Ben Bernanke. Interestingly, Draghi was due to speak at the summit but has cancelled so all eyes will be the USD and Gold. If there is no hint of QE3 then expect USD longs to recoup some ground.

Trade update: Still long on EURNZD from 3rd August, still long on Cable and short NZDUSD! Have also entered USDCAD long on the double bottom inside bar.

Whilst the markets sort themselves out towards the end of the month I wanted to share an incredible story with you. It is a reminder to everyone that no matter what circumstances you may find yourself in, there is always a way to turn things around if you're committed. I've known about this persons life story for a while and it is one of the most motivating and inspirational stories I know off. It shows how anyone can achieve their dreams with incredible belief and perseverance. The story is of Sylvester Stallone, the Hollywood actor best known for Rocky. The perception to most people is that actors live a glamorous lifestyle and life is easy, which is partly true. However, their journey to that level is one of the hardest there is. I know actors and the sacrifices they make to achieve their dreams are just incredible. Trading is no different. The perception of a trader is a life of financial freedom, which again is partly true once you have earned it and worked for it. Everyone's life can be amazing if they are willing to make a small sacrifice for longer term rewards. This story inspires me every time I read it and I want to share it with you all. Feel free to comment or share any other inspiring stories:

The Sylvester Stallone story is a true rags to riches tale. He rose from an almost impossible situation to the fame and fortune that he now enjoys.

Stallone attended school in Philadelphia where he first started acting. He then spent two years instructing at the American college of Switzerland in Geneva. When he arrived back in the United States he became a drama major at the University of Miami where he also started to write. He left before graduating and moved to New York to pursue his acting career. He auditioned for almost every casting agent in town with no success. He decided to turn more towards writing and started to write screenplays while waiting for his acting career to take off.

His first break was in 1974, the lead in "The Lords of Flatbush". He also received his first writing credit for additional dialogue on this film. Despite this small break he struggled to build momentum. He kept auditioning with one rejection after the next. He started writing more screenplays and received similar rejection.

Stallone had run out of money and was living in a desperate situation. He could barely even feed his family. Then one day he was walking through the streets of New York and he wandered into the library to keep warm. He started reading books from writers such as Tolstoy which gave him an extra edge in his writing.

However, he was in desperate need to get work but wouldn't take an average job as he knew he wanted to be an actor and that was it. He resorted to things like selling his wife's jewellery!

Whilst sitting at home watching a fight between Weppner and Ali, where the underdog Weppner was getting slaughtered but kept getting back up, did he find his inspiration for Rocky. He wrote for over 24 hours straight and had written the entire script to Rocky.

He tried to sell the screenplay to many producers with rejection after rejection. This went on for months and he ended up so poor he had to sell his best friend, his dog. Stallone waited outside of a local liquor store asking everyone if they wanted to buy his dog. Someone eventually bought it for $50.

He persevered with trying to sell the story and eventually someone loved it and agreed to buy it. However, Stallone wanted to play the part of Rocky. They declined and told him he was a writer not an actor. Stallone disagreed and told them he was an actor. Despite how broke he was, he declined their offer of over $100,000. Weeks later they contacted him with an even higher offer but Stallone still insisted that he play Rocky. Once again they declined. The offer kept rising as they were desperate to buy the film without him playing the part of Rocky. The price eventually reached $400,000 and he still declined. He believed he was an actor and there was absolutely no compromise.

Eventually, they offered Stallone $25,000 (from $400,000!) just in case he was an acting flop and the film didn't do well. He accepted and the first thing he did was go back to the liquor store to buy back his dog. He waited three days for the guy to come by. He offered the guy $150 to buy back the dog, the man declined. However, Stallone kept pursing his goal and eventually ended up paying $15,000 and giving a part in the film to get his dog back, who is also in the film.

What happened with the Rocky film? It won an Academy Award for best picture in 1976 and went on to create a successful franchise with four other films in the series. At the awards ceremony Stallone read out all the rejection slips from those who said the film would be sappy, predictable and a film that no one would want to watch.

This just goes to show that we all have the resources needed to overcome any obstacle and achieve any aim we have in life, no matter what your age, background, colour or gender is.

Anything is possible. Our imagination combined with persistence and direction will ensure we can all live the life we dream to. Just ask Sylvester Stallone, he knew his outcome and persisted; now he is living his dream.