I was looking for an alternative to property investment, with the jittery property market of 2007, I was looking for a new way to invest and profit, and so I set out, and what I came across was a business review of a forex trading mentor. I duly paid £500 for Sid Wymeann’s forex training course that was about to start in a few weeks, I was quite looking forward to it, in the meantime I had plenty to do, and I didn’t think to make any further evaluation of the situation, I did not google forex, I did not look for any other options whatsoever. The course was six weeks long, and I did think that it was a bit sparse, but I took going through it so quickly was due to the fact that I was so familiar with spreadsheets and I didn’t have a problem with the concept of sell then buy, so I’d spend 5 minutes a day looking at the PDF’s before continuing with my work. And this wasn’t when you get like some exercises to do, and you just read them and don’t actually do the exercises which would take you another hour, I’d read the PDF and done the exercises in about 5 mins, that’s all there was to it.
The Sunday Afternoon Forex Lecture.
Each Sunday we’d have the hour lecture, it was around 6 p.m. GMT where Sid would quite happily go on about forex for an hour barely stopping to take a breath, since it was all so new, it wasn’t boring and the hour passed quickly, but we’d never learn anything really new, it was all general stuff, but no how to’s. The 14 day money back guarantee had long lapsed and there was still no sign of any real market learning, the PDF’s would come, but hardly a forex chart in sight. Then right at the end of the course we are told about this little system he has that looks at 3 pairs and takes advantage of the momentum in the market, no videos, no real guidance, not even a PDF about it, we were just told about it in the meetings with a reference to it in the very last PDF. The whole bloody thing was a mickey take, £500 on some padded out information that wasn’t worth a tenth of that. And so the disappointment continued, I like to think of myself as quite a savvy internet surfer, I’m not one to throw money away, I can spot scams a mile away, and yet I couldn’t help myself throwing away $39 here and $99 there. My thought was I kind of know it’s going to be a waste of time, but what if there is one small detail that could make all the difference to my trading then it would be worth it. And as I expected they were a total waste especially when you end up buying the same product twice, these were absolutely no good, the sum of their parts wasn’t worth the value of the wind in the air. Not only did I waste my money on these, I wasted a lot of time too, studying what generally was some kind of moving average or indicator strategy which always seem so effective in hindsight. And what’s more, I’d printed all these manuals off to read them, I don’t know many reams of paper I went through, all of them with totally useless super forex trading systems on them, so you might as well add all that paper and ink to the bill as well.
Be A Forex Trader.
The answer to all this dilemma is to be a forex trader, not a forex system follower, and most of all what you need is patience, and no one can teach you patience. It don’t matter what system you use or what mentor you have, although they can help, it’s only when you realise yourself how much patience and pragmatism is required. I’m now a reasonably profitable trader, I don’t do much analysis, I use long term support and resistance, I use the daily chart. I’ll place long term trades on for a few days if the market is at a key level and seems to be heading away, if this is not the case, I will place 30 PIP win or loose trades and generally I get ahead a trade or two over the week. It’s really simple, it’s just a case of not losing money much more than how to make it.