My Forex Experience

Several months ago I wrote up a post on Forex-Nation promising more lessons and more info from my own forex experience to help those of you seeking to refine your own forex trading skills. Well I guess you could say I sort of didn’t quite follow through with that promise. But I would like to give an explanation for why the long silence, and no it’s not because I went broke and gave up trading.

It’s actually been one hell of a year for me both personally and financially. Thanks to the misguided hot air balloon that was the Dodd-Frank Wall Street Reform Act my trading capitol proved to be insufficient to continue trading full-time. And as I sought out further ways to boost my income, I decided that web design might offer a great opportunity to raise that capitol. Plus I don’t want another desk job where I face the daily rush hour traffic – who does?

Trading forex gave me independence; it also gave me self-discipline, self-reliance, an entrepreneurial spirit, and new friends. I loved it, and hope to continue it again. I still say it’s not for most people; it’s a niche that only the strongest, bravest, and sharpest traders will succeed at. But it’s not a scam as many will claim (who failed for legitimate reasons on their own part), it’s not a pipe dream, and if you really want to be successful at it, then I recommend you read my lessons and follow those I speak of in this blog and you will be successful.

Fast forward two months to today. I have helped create three e-commerce based websites for three separate start-up companies, with the added bonus of potential equity in those companies if successful. That’s where all my time has been spent over the last two months, but my true passion continues to be as a forex trader. No other industry exists that can offer the income potential and the freedom that being a forex trader offers. I will continue to monitor this blog and keep up with the markets in the hopes that sometime in the near future I will be in a better position to continue on with my trading as before.

For now though, I would recommend any newcomers to take a few words of wisdom that I came to realize as forex truths, and hopefully these words might help guide you along as well.

The market is always right. At the end of the day if you’re losing more than you’re winning don’t give in to the myth of “forex is just a “scam”, instead realize your system is the problem so fix it.
Seek education that’s free first before you pay for anything. Let’s face it, if you can Google it, you can probably find it for free. So ask the right questions. Yes, pay services are very beneficial, but only once you have a basic understanding and some real time trading already under you belt.
Don’t ever invest in robots. Yes big banks use them, but retail traders suck at creating them. We just don’t have the same real-time resources or capitol to build a successful automated system. Leave it to the big boys and learn the technicals they follow instead, and keep it simple.
Pay attention to the technicals more so than the fundamentals. Both do matter, but it’s my experience that technical traders make more money than fundamental traders.

If I think of more I’ll add them. Let me finish with my list of the best forex websites out there (according to me of course). These should be websites you visit frequently already, but if they’re not, I promise you will only gain more pips from seeking them out in the future for your trading needs. Good luck everyone.