Why do you want to be a Forex trader anyway?

WineMed01

When I started in this business, around 8 years ago, I felt so excited about the possibility of trading. For me it seemed like living in a movie. Being able to earn, potentially unlimited money, from the vast wealth of resources in the Capital Markets. Sounded crazy to my neophyte mind, that a small guy in his room could be competing along huge financial institutions, banks and even countries for a piece of the trading earnings pie. I started seeing myself moving millions from a luxury boat at the french Riviera while drinking Mimosa.

Of course reality turned to be completely different, first the deception to find out that I was far from a “natural” in this area, whenever I decided to pull the trigger and enter a trade, the market would seem to automatically move the other way I was expecting. After loosing a few hundred dollars I put in my first Forex account. I decided not to renounce my dreams but to educate me, read books, watch videos and whatever trading material I could put my hands and eyes on.

Countless hours of analysis on charts, reading the news, opinions, analysis from experts. Paying for systems, online courses, robots, trading websites, basically everything that crossed in front of my eyes.

However, everything seemed to be in vain. Since my trading skills far from bringing me to this “Trading Nirvana” where I would have been reaping millions and having a life a-la Wolf Of Wall-street, surrounded by voluptuous women, luxury pent-houses and expensive cars. I was more of a freak guy locked up till very late watching charts and yes, basically losing money.

However, eventually after losing a really big chunk of money (close to 40k), I finally began to trade profitably, slowly, not millions pouring in by the hour, but yes, in the end I was profitable. I was so afraid to lose again a big amount of money that I did traded smaller lots, conservative stops, I was very careful of my strategy and, somehow the dots connected and I was making money.

I found out that the life-style of the traders in the movies, was maybe something that will stay there (in the movies), however trading gave me the opportunity to earn a great living without worrying for customers, bosses, angry clients, strict office schedules, or any of the sort. Basically I was the owner of my own time and, if equipped with the right tools (a trading system, some capital and discipline) I was able to do basically whatever I wanted with my time. From traveling to South America, that I did once a year now, to starting new business ventures, to do personal projects, visit museums, partying on Tuesday or any day I felt like.

So after maybe 7 years of a VERY steep learning curve it seems like everything was really worth the time, money and effort. For I’ve been 2 years already growing my account constantly. I don’t feel this “trading rush” anymore that made me loose so much money, and my confidence in every trade has become very high. I know it doesn’t matter if I lose one trade, or two or even five! (well five in a row is always hard) but in the end I know I’ll be profitable.

One of this projects I wanted to make for a long time is this blog. The idea is to help everyone start with a bit of better odds than I did, maybe also share some thoughts about trading, and help you achieve the Forex Life Style you are dreaming of.

Happy trading,

Paul

If you find this article useful, please share it with your friends!

Leave a Reply

Your email address will not be published. Required fields are marked *

Important Disclaimer: Foreign exchange (Forex) trading carries a high level of risk and may not be suitable for all investors. The risk grows as the leverage is higher. Investment objectives, risk appetite and the trader’s level of experience should be carefully weighed before entering the Forex market. There is always a possibility of losing some or all of your initial investment / deposit, so you should not invest money which you cannot afford to lose. The high risk that is involved with currency trading must be known to you. Please ask for advice from an independent financial advisor before entering this market. Any comments made on forexlife.me or on other sites that have received permission to republish the content originating on forexlife.me reflect the opinions of the individual authors and do not necessarily represent the opinions of any of forexlife.me authorized authors. Forexlife.me has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: Omissions and errors may occur. Any news, analysis, opinion, price quote or any other information contained on Forexlife.me and permitted re-published content should be taken as general market commentary. This is by no means investment advice. Forexlife.me will not accept liability for any damage, loss, including without limitation to, any profit loss, which may either arise directly or indirectly from use of such information.