Stop trading forex! It is a waste of time, money and effort! You will never earn anything and get scammed by your broker and your mentor! Hi everyone, my name is Julia and I am from South Africa. 29 years young and working as a junior programmer at a tech start-up just outside of Durban. I am also a part-time forex trader which may surprise you given my first three statements, but it was thanks to those that I am still trading forex today. My interest in forex was awoken when I was 23, fresh out of university and unemployed. I kept afloat with seasonal and part-time jobs as a waitress and at a hotel.
We had a resident in the hotel who was a professional forex trader and he introduced me to the idea. I always admire independent individuals who live their life exactly how the want to. They don’t depend on the economy and a free to travel when and where they want, when they want. I wasn’t happy with my temporary jobs and knew it was time to seriously consider changes. I had little money to spare so my choices boiled down to wither finding a rich husband or figuring out how to create the life I want as a free, independent young woman.
The first three statements I started with, are the ones I heard the most. When I started to venture into forex trading, I always wondered why so many people have something negative to say about trading. I am now convinced that the reason is embedded in their approach to it. A very big majority has a very short time horizon, they want to earn money fast and without any effort. In my experience, it is the exact opposite that works. Trading forex successfully is not something you can do with ease in a short-period of time.
I remember when I approached our hotel resident and asked him if I could ask one forex related question. He said he would happily answer it, but to make it count. I wanted to know how long it took him from the time he decided to start trading forex until he was able to call himself a professional trader. He told me that it took him twelve years to accomplish his goal. He shared his beginnings with me that he came across all the negative stories as well as the hyped up marketing related material. He never trusted any of that, created his plan and decided to tackle the challenge his way.
Over the years I was blessed to interact with a few more forex traders who I classify as successful traders. The things they have more or less in common is that it requires years to master forex trading, determination, a plan not just for executing trades but also for building up your account and patience. I think every forex traders is their own worst enemy. Some approach it filled with doubt and others with too much optimism especially for the work and time required in order to achieve consistently positive results. I think it is very important to have the right mindset before you start, otherwise your path will be filled with disappointments.
I took the words of discouragement and used them as encouragement. The more I came across people with a negative attitude towards forex trading, the more I was sure that forex trading is a life changing profession. Whenever people shy away from something which requires hard work and determination, it usually means that there is something solid there. Laziness will never be rewarded. The more time I spend learning about forex and implementing what I learned into my live trading account, the better my results became. Of course I blew through my first few trading accounts, but instead of being angry at my losses I viewed it as the price for my education.
I spend far less on forex education than on my university degree, but both in combination grant me the life I currently enjoy. I am still very young and now is the time to work. I deposit 40% of my monthly pay check into my forex trading account. The reason I do this is because in order to earn the amount of money I would like, I need to have sufficient trading capital to grow from. Many believe that you can make a small deposit and earn a lot of money. In my opinion that’s nothing more than terrible and misleading marketing and a big reason many are negative about forex trading. Create a solid plan, don’t fall for marketing tricks and execute your plan with a solid forex broker. I can recommend PaxForex, where I am a happy client and know that my forex account is in good care.