We recently began a new venture – our FOREX Trading journey. 🙂 Let us tell you something – trading is definitely not for the fainthearted!
We have wanted to get involved with trading for some time now and have dabbled with it in the past but didn’t get very far. Probably because we didn’t learn how to do it properly.
Around four years ago, we looked at joining a FOREX training academy but didn’t. Oh, how we wish we had! Especially now we’re seeing the results of some of the members we know. 🙄
Why now?
Over the past couple of weeks, we spent a lot of time looking into the aforementioned academy. We decided we would give it a go, spurred on by friends who are already members and trading successfully. For some, it’s now replaced their full-time income – in many instances, within one year!
A lot (if not the majority) of people who try FOREX trading lose money and just give up. This is mostly because they don’t have a proper strategy in place to minimise losses. What impressed us with this academy is that their members have in excess of an 80% success rate. Their strategy is to never trade with more than 1% of the value of their trading balance. This minimises the risk of losing all their money. Using compounding to grow their accounts can produce amazing results after just one year.*
Progress reporting!
We intend to share our results once we get going, starting with our dummy accounts. However, it’s illegal to share actual earnings we may make – no-one should be making such financial claims – but we will share our results with regards to trade wins and losses. We’ll also let you see how many PIPS we make (or don’t make!) and whether we’ve had a good – or bad – trading day.
We have so much to learn and are pretty sure that at times we’ll both be mind blown (we already are, haha) – nevertheless, we are very excited to get going. Our plan is to do at least one hundred trades on our dummy account before we attempt a real life trade.
If you are interested in looking into trading, we use TradingView. They have built-in dummy accounts where you can practice, plus there are lots of tutorials, news, ideas and help functions available.
Disclaimer
*Please note, income from trading is not guaranteed. We are not financial advisors and are learning how to trade with experts. Should you wish to begin trading yourself, we would recommend finding people who can teach you. Always, always begin with a dummy (demo) account so you’re not ‘playing’ with, or risking, your own real money.
You may also like: Matched Betting