It was summer of 2010. I attended a free seminar on Forex. They said “we are right on your doorstep in London; you shall get all the training and support you need” and showed me a fancy video of founder Greg Secker making pots of money. I jumped and joined them. A few weeks later I completed the two-day course and thought yes, that’s it. I am on way to become a financial trader. WRONG!
It took me three months to press that bloody button and place my first trade on the currency market.
OK, I might be a slow learner but eventually, I got there. I am still trading.
Initially, I didn’t have the confidence to trade on my own at home..in my study room (preferably when the 2 year old is sleeping).
I gathered that FEAR was my No.1 friend for my procrastination.
Weeks later, at the bookshop, a Richard Branson’s book said: “SCREW IT, LET’S DO IT”.
Hey, That worked! I went through the course notes again and “ACTION”.
I opened a demo account with my broker and they threw in £10,000 (paper trading or monopoly money) with which I played around in the “LIVE” market. Tiny step ahead but still, ahead at least. That is how I started my trading journey. Needless to say, I made a lot of mistakes during my first few months of trading hence the demo account was vital for learning the ropes without breaking the bank.
Excited, naive and greedy….. I was running around like a headless chicken. I was all over the place trying 20 odd strategies or worse… anything I found on the net and that included auto trading with bots. I discovered that robots work better if you know a bit about how to trade the market. I wouldn’t suggest buying any robots (EA’s) unless you know what it’s doing.
I could probably write a blog on just what to look for and how to trade bots.
OK. back to manual trading. I realised that discipline, focus and being persistent was key to trading and sticking to one or two strategies worked best. Finding the right strategy that suits my daily routine & personality, yes, you heard me right. a trading strategy that suits my personality. IT WORKS!
Once I got the edge, I back-tested my trades and when I started being consistent, I knew it was time to bring in the cash! Open that LIVE account with real cash and get rolling.
That was my secret to the Forex world…
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Stick to 1-2 strategies and master it!
I also learned something the hard way which my mentor, Clive said… Don’t be greedy, TAKE THE MONEY (snap your fingers thrice and say TTM) and exit the trade. The next one will be around the corner…just like the London buses. It always does!
Must admit, this was the hardest habit I had to develop as a trader and it saved me from a lot of trouble. Worth every bit!
Persistence pays off. I now have a growing account, tweak the parameters of my own Forex robot, share my trading knowledge via my blogs. Why? The internet is a wonderful thing. If it worked for me, it should work for anyone who wants to learn it. Besides, good things are to share!
It’s been quite a roller coaster journey so far but hey until you hit the road, you can’t tell, can ya! How the name Forex Diva came up? Well, that’s another story.. Some other time perhaps.
Books mentioned in this blog:
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