Forex trading – A tale of two traders
Forex trading A tale of two traders
To be an excellent forex trader, one must learn forex trading. Currencies are a complex beast, and many different factors impact the currency market. To a fledgling trader this can become overwhelming very fast. There are certain things you can do to limit the risk in your investment however, such as using a forex trading system. Most people use this only after failing once already, don't do this. Get help from the start.
The knowledge of a system will help you tremendously, particularly at the start of your trading career. If you were new to a job would you not expect training to be given to you? These systems are your training. Let Drake and Josh illustrate the two paths that can be taken when starting forex.
The tale:
Drake and Josh have both heard quite a lot about forex recently. Big profits. Quick money. They both understood there was risk involved but they were willing to take the chance. Both guys are highly motivated and committed to taking this chance so they put away 1000 to fully invest in forex. Both will assess their profits (hopefully) at the end of a three month period.
Month 1:
Drake went straight for the throat and started trading immediately. His first trade was a success...initially. It quickly went down after. Before he posted his sell request he had lost 100. He did have some minor success stories but overall most of his trading's followed this pattern. He did not have the knowledge or expertise to understand why this was happening.
Josh took a different route he did some more research and decided to invest up to 10% in resources. He found a programme called Forex Ambush. This membership website gave its members winning signals and proudly proclaimed a 99.9% accuracy in doing so. Josh researched further and found positive feedback from its current members. So for less than 20 he invested in their seven day trial period. The next day following forex ambush recommendation , he closed his first transaction for a profit of a 140. On the back of this he signed up to the full membership. Now not all of the signals resulted in profit but the vast majority did.
End of month accounts: Drake : 400 Josh : 1600
Month 2:
Drake felt like his back was up against the wall. Not only had he lost money but his pride was bruised. To try and recoup his money he traded higher valued trades that had a lot more risk attached. Two weeks into month two and Drake had lost all of his 1000. He now decided that forex was nothing but a scam and decided that anyone that declared they had made from money from it, was quite clearly lying.
Josh on the other hand was buoyed by his recent success and continued using Forex Ambush. However he also diversified and tested other trading systems. His began to understand the forex market, and was receiving tips on a daily basis. His confidence was at a new high.
End of month accounts: Drake : 0 Josh : 2400
Month 3:
Drake continued his 9-5 job for a faceless corporation. He now has a deep mistrust in any kind of trading system.
Josh continued using his system and tailored and tweaked to suit him even more. He continued to read and research forex to try and gain more knowledge on the subject. His sustained effort was rewarded as the majority of his trades ended with profits. He even took a holiday with the extra money made from forex trading.
End of month accounts : Drake : N/A Josh : 3300
The lesson learned here is to learn before you do something and seek help. Now Josh done this while continuing to work a full time job to help supplement his expenses. He was even began to contemplate about quitting his full time job and commiting to forex fully. All that seperated the two was a small investment into knowledge and expertise. More thinking and less rushing. If you a serious about forex and its potential, surely you owe it to yourself to give you as much as a head start as possible.
You now have to ask yourself a question do you want to become bitter like Drake, or a winner like Josh ? Learn to become like Josh at learnforex-trading.com/go1
Forexambush.com
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