I'm sure there are many of you out there. I also suspect that, like me, you have only known failure, or maybe occasional moderate success.
I've been following the Foreign Exchange for about 15 months now. Probably like you, I have wanted a piece of the pie. I've read so much about just how much you can make on Forex, and it does leave you drooling.
However, the folk who write all the blurb in the sales letters on the websites, don't tell you that you really need a small fortune to get started, and that's before you actually pay for the system they are selling in the first place.
What I have needed has been a system that is:
- not expensive, sub £100.00 please.
- a system that will allow me to start with £100 to trade with.
After all the hours I've spent trawling through the ether, I've found neither. So for the last few months, I've been working on a system that will work for people, like myself, who don't really have a lot to start with.
I'll give a quick potted history of myself here if I may. It isn't a hard luck story, but I feel it will tell you where I'm coming from, and the majority of you reading this, will actually feel better off than you did before reading it. There will be a few of you who'll be able to say "I know where you're coming from fella."
I've basically been down on my luck for a few years now. In the last 4 years, I've managed to find work for a combined total of 18 months(ish). The thing is, I don't receive benefit other than housing and council tax benefit.
Because I'm ex forces, I get a disablement pension, so I'm told I have to live on that. The problem with that is, what I do receive doesn't even cover my overdraft, so I'm permanently in bank charge territory. The upshot of this is, I'm left with an average weekly income of around £35. At 50 years old quality work is going to be difficult, if not impossible, to come by. So you can see why Forex sounds like an attractive proposition to me.
Yes I have 'had a go' in the past. Sometimes with moderate success, but with most trades ending up in abject misery. Admittedly I got greedy at times, but that was brought on by desperation. In effect, I was gambling rather than trading. I wanted to run before I could walk, get to the point where I would be able to provide for me and my 5 year old, and still play 'the game'.
I lost my most recent job on 3rd Sept last year, and I was facing the prospect of doing my Christmas shopping in Pound Stretcher. I have a daughter who was 6 on New Years day, so you can imagine my dilemma.
Potted history over, hopefully you will appreciate the situation now. Like I stated earlier in this post, I've been following Forex for a while, so I have managed to learn a thing or two. I'm by no means an expert, I have a few more years of trial and error before I obtain that accolade. I finally seem to have cracked the way to getting my foot in the door. I developed a strategy that paid off between early November and early December.
Starting with £50.00 (it's all I had), I withdrew from my trading account £182.00 on 10th Dec'. "Not a lot," I hear you say, but it is! I more than trebled what I started with, in little over 4 weeks. It was enough to allow me to at least get some of my shopping at stores other than Pound Stretcher.
So what's the point of this Blog then? Well, I wanted to share the experience with fellow traders, who like myself, have felt totally excluded from the club. I want to show that the little guy (literally, I'm only 5'7") can get himself a piece of the action. At the moment of writing this, I'm back at square 1, but now that Xmas and child's birthday are out of the way, I'm going for it again.
Once I reach the dizzy heights of £50.00, I'm putting my system to the test again. Basically, I want to prove to myself that it does work, that it wasn't a fluke. Plus, if it works for me, it will work for anyone. I know I'm going back to a gambling and not trading situation, but we have to start somewhere don't we? Besides which, I'm giving myself an edge with this new system, and because some pressure is off, I can be a little more patient.
My intention is to build slowly, compounding my staking plan as I reach certain levels. The initial goal being to reach a situation that will pay me a regular wage of £225.00 per week, which I am going to attempt to reach prior to the school summer holidays beginning. The ultimate aim is to trade, not gamble. As time goes on, I want to keep wannabe traders up to date, let you guys know if this thing is worth pursuing. Right now, I feel it is. Stay tuned and see how I get on.
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