Essalam, my name is Saadeddine and I am a bar tender from Casablanca in Morocco. I feel truly blessed that I am able to share my story with you which will start in my home town, then on a cruise ship and into the world of forex trading. I just celebrated my 43rd birthday this week and my daughter suggested that it would be great to share my story, write it down and pass it on to the next generation. Today I want to give you the short version which may send you on your own journey to discover what life has to offer. At the age of 18 I was unsure which path to take and that summer I took a job at bar until I figure out my path.
I quickly discovered that being a bar tender is not a bad job and my boss saw raw talent. He offered to sponsor me for courses on bar tending and I started a formal education into this profession. Little did I know that there is so much to learn about it, but I enjoyed educating myself. I got to travel to different locations were courses were held and what I love most about my day job is the people you meet. I am a good listener and you learn quite a bit about a wide range of topics. Casablanca is filled with tourists and businessmen which creates a great variety of clientèle.
After I turned 25, I was offered a position as a bar tender on a cruise ship. I discussed this with my boss as I have to thank him for his support in my education and path to become a professional bar tender. I didn’t want to quit my job as I don’t see a home outside of Casablanca for me, but I didn’t want to pass up this opportunity either. The position on the cruise ship was for six months and we came to a mutual agreement and he was happy to welcome me back after my journey. Working on a cruise ship was different than working onshore, but I was able to save a lot of money during this period. I also met a lot of different people, learned from them and ultimately was introduced to forex trading by a small group of traders on vacation.
Overall, my first cruise ship experience allowed me to set sail for my own part-time business. The first thing I learned about trading forex is that you need capital and to ignore all the marketing hype about great returns with small deposits. I spend my free time on the cruise ship on educating myself about forex trading and the group of traders was very open to point me in the right direction. They also suggested that I learn the basics on my own as the discovery process will add to my forex education more than anyone simply telling me their position on the market.
During the next ten years I worked on the same cruise ship for six months every year and over the remaining six months I worked at the lounge bar in my home town. This period is now known to my friends, family and myself as Saadeddine’s FX Power Cruise and there are three key reasons for that. During each six month cruise I was able to save up about $12,000 while I also educated myself about forex trading and ultimately started my own business. I met the same group of traders two more times over that period and we started a friendship. Besides capital, I believe the biggest asset you can have as a retail trader is a close friendship with other profitable traders.
Since I was able to save $12,000 from my work on my FX Power Cruise each year, I had a great starting balance as I used all of my capital to invest in my future. I know many who are young and don’t plan ahead, they want fancy things now as they believe they need to enjoy life in their younger years and once they get older they should just work. In my opinion it is the other way around, work hard while you are young and able so that you may enjoy the rest of your life. This is the biggest lesson I want to pass on to my family, friends and everyone who is open to listen.
You may wonder which forex trading strategy I used. Since I didn’t have the time to develop my own at first, I spend long hours during late evenings testing different strategies which I came across. Ultimately, I needed someone or something to trade for me as forex trading is very time consuming. I was not interested in those short-term strategies which are great for marketing, but bad for your portfolio. I looked at different PAMM systems, but was never able to find the right one which suited my trading style. My strategy is based on longer time-frames, such as the D1 or W1, one that follows the trend and gets out after a certain pip move.
It is bets to know what you want, then go and get it. Don’t let greed take over your trading agenda. I am looking for 100 pips to 200 pips per trade, depending on currency pair and I don’t have more than five currency pairs open at any time. When it comes to risk management, for each $1,000 in my forex trading account I will trade a maximum of 0.5 lots in total. I am trading my account at PaxForex and they offer great trading signals for free to all traders. This is the best place to start which is where I placed my first trade in the forex market and where I continue to grow my balance.
Diversification is another key risk management tool and besides relying on the great analysis of PaxForex I have two other sources. I mix it all up, the same I mix cocktails at the bar in order to get the best blend. I have learned quite a lot about forex trading over the years and each week I spend time to apply my own analysis over the trading signals I have selected. I created a grading system and the Top 5 will be entered to my forex portfolio. After I concluded my 10th FX Power Cruise at age of 35, my portfolio grew to over 500,000 and I averaged 27% annualized. I bought the lounge bar from my boss on my 40th birthday as my balance approached $2,000,000. This was the first time I made a withdrawal in 15 years. Now I own a great place of business where it all started, my boss retired happily and I have a great forex business on the side with a trusted partner in PaxForex. My final step will be to pay a team of developers to create my own EA which can trade the forex market on autopilot while I enjoy tending to my clients at the bar. Life is great if you give it a chance. Take your first step today at PaxForex with an open mind and a realistic approach!