During all this craziness in my life, forex moved on without me.  I sat down to my computer to “re-familiarize” myself and what do ya know?  New stuff galore…I was blown away!  Sid has revamped the entire course and changed strategies in order for us to keep up with the many changes that are taking place in the financial markets.  The instability of the euro meant changes were needed to help us all remain safe, profitable traders.

At first I was a bit disturbed because I was all set to get on with what I already knew; however, after going over all the new stuff and listening to a few calls, I realized how much better the new ways really are.  It amazes me how often we fight change, but more often than not, it can produce some amazing opportunities, and I firmly believe that is what has happened in this instance.

What really impresses me about all of this is that Sid didn’t just rest on his laurels and let us take our chances.  He is really committed to us BBC members and has been really proactive in keeping up with the changes necessary for us to be successful and incredibly enough, he has proven that forex really is quite a “fool-proof” way to earn some money. Whether for a full-time income, or for part-time one, forex does seem to stand the test of time (and change!).

I’m glad I didn’t despair, but rather embraced the change, because the new system offers greater earning potential, and in my humble opinion, a much easier and safer way of trading.

Thank you Sid for your continued dedication and hard work at keeping all of us BBC members alive and trading.

And, here’s to hoping I can stay focused without major interruption again any time soon.  Happy Trading All 

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It has been a very interesting several weeks.  The market has been rather quiet, allowing for lots of observation exercises, which in my opinion are very good in helping me to develop my patience and discipline, as well as my ability to really spot a good move.

February was exceptionally slow, but apparently this is a trend that has been observed by this group of traders for about 5 years running.  March was a bit more active, providing more opportunity for trades, which I’m happy to report that I grabbed my share.  I am a very conservative trader, so I am very pleased with my slow and steady progress.  April is proving to be very similar to March, but I am still growing my capital.

I must confess that the brief moment that I fell off the wagon; Sid was quick to get me back on track.  His dedication and commitment to helping people become “safe” and “successful” traders is always present.  The fact that I am accountable to the other BBC members really does help me to mind my P’s and Q’s.

During this time, Sid has been furthering my education on the true power of compounding.  Taking this new information into consideration, I am even more pleased with my little trades as I am confident in the long-term growth of my account.  I am so pleased that I decided to take this journey.  It is proving to be a most delightful and promising endeavor.

Until next time…steady as she goes

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So far my journey has been very fulfilling.  I am taking it slow and steady and trying to do everything right from the get go.  It’s not always easy to stay disciplined and I paid the price with a negative trade one day this week.  It was my first in three weeks and I was not pleased.  It was a small negative, but the effect is still quite powerful on my subconscious.  I have learned my lesson and will go back to basics so as not to repeat this mistake again.  My capital is too precious to lose on silly mistakes.

I know that I am still only in demo, but everyone knows that it is not just practice that makes perfect; it is perfect practice that makes perfect.  Armed with the hope that the slow month of February is behind us, I look forward to March and many positive pips.

T.T.F.N.

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Since I have met my target for the week, and in the spirit of preserving my capital, I am done trading for the week.  I’ll be back at it next week.

Have a great weekend! 

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I am finding that being a part of the BBC is very helpful.  Seeing other peoples trades and learning from each other is so beneficial.  People here really do hold themselves accountable.  It does help to keep me accountable as well.  So far, this has been a great experience!

Have a great weekend.

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Sam did a really good job and you can read all about it by clicking here. Sam is now a successful, ‘part-time’ trader. She wouldn’t call herself a ‘professional’ trader, because she uses what she’s learned to make very good money, but her life still centres around her husband, four children, two dogs and many other interests, so there are many days when she doesn’t sit down to trade.

Unfortunately, she didn’t have the time to continue with her daily experiences with forex – as she says herself, life is now just too full for her – and she thinks that it’s really a little boring to relate what happens on a day by day basis because she simply does what she does over and over again.

So, we have asked another brand-new person who started our January 2011 course just this week, if she will relate her experiences, ‘through the forex training.’

This year, Jody, a single Mom from California with grown-up children, will be taking up the responsi-bility for this blog. She has carte-blanche from me to say exactly what her impressions are, warts and all. I hope you enjoy her blog. She starts from a ‘know-nothing about forex’ basis just like Sam did.

Happy New Year to everyone.
Sid
January 5th 2011

This may be difficult to understand but I have gone through the most amazing transition in my thinking about money-making. This apprenticeship is really where you start to appreciate that making money from forex, the ‘Forex Training Works‘ way is so different from my previous perception. I know that I have turned a corner that will change my life from now on.

What is the difference? Well, it’s about changing a conditioned mindset. Just ten weeks ago, when I started the forex training course on February 1st, I KNEW that the harder I worked, the more hours I put in, the more effort I expended – the more money I would make. Let’s apply that to forex for a moment.

On average, I am actually trading for around one hour in the morning. If I can make my target in an hour – it it seems to be a no-brainer, that if I work for four hours I could make four times the money. If I worked even harder and put in eight hours and expended equal effort – I could make eight times the money. In the outside world, I know that’s true. In forex it is completely the reverse.

SAFE trading to make money is about CAREFULLY using a time period for what looks like a small achievement. To risk that achievement would be a nonsense because that small CONSISTENT achievement adds up to an enormous profit as it rolls up and compounds. Best of all, and this is where I have turned a corner, it is a super STRESSLESS and risk-less way of making money work for you – instead of you working for money.

I have ‘worked’ at forex trading, for around three hours this week. I have added up my ‘potential’ earnings since I started demo trading seven weeks ago – and I am amazed at my potential ‘return on investment’.

Return on investment, as I have learned, is the percentage amount my original capital sum has grown over this period. We don’t ever talk actual money because it’s obvious that the percentage brings us all to a level playing field whatever small or large capital we start with.

My return on investment at a small 10 pip a week target has been almost 22% in just seven weeks. Compare that, to the money we have in an investment account that is earning us around 2.5% per YEAR right now.

So on the basis of the possibilities, without stress, without hours and almost without effort, my husband and I have decided that if I can confirm these results over the next week or so without trauma – I will become a live trader.

I realize that ‘going live’ will present different challenges – but I know I can do this. I enjoy doing it and this new direction could genuinely change our lives.

I started this, HOPING I could do it. Now I know I can.

Sam

I have really missed trading the last two days but knew I had to do this and with things being a bit quieter right after the Easter break I don’t feel I have missed out too much.  Mind you, having said that and from what I have seen in the BBC Club – I could have had a great morning this morning.

Ah well, these things happen eh?  I would prefer to have a good morning tomorrow having done some revision!

I know that I have said that this before, but learning forex, really is like learning to drive – but better.   After you learn to drive and dependant on your personality, new drivers either roar off into the distance or take a gentle drive by themselves.  The difference here is we are not taking any risk, Sid and Kris are still here to make sure we don’t forget what we have learnt and really practice to ensure we get the most out of forex.

Sam

When you need to cram five days in to four it can get a bit hectic, in fact I was in Nottingham all day Tuesday and had my first mobile trade!  It has been another great week for me – and Sid’s golden rule of safety first has paid off dividends!

I am loving my new found skill of patience and let me tell you why;  I know that they say self praise is no praise – buy hey, this is my blog and Sid has said I say what I like so here goes!

Sid has taught us how to read the market and make the most out of it – after all we are here to make our lives better financially. One of the important rules we are taught is not to trade when in doubt; I have been really diligent this week and have been at my desk at 6.30 each day before sorting out the normal daily chores. I have it scheduled into my diary as my daily forex rendez-vous!

Anyway, today it just didn’t feel right – so I didn’t trade.  Sounds daft – but it was the right think to do.   I listened to what Sid advised us and decided not to risk what I have already made this week.

Sid really made my day after I sent in my daily update when he sent a short email saying “well done” on my decision today. Now isn’t that great one-to-one support after a forex training course?! Sid and Kris have been so great and they are both so patient, although I have no idea how they find the time for all of us!

Right that’s it for today – this might not sound like much to those who are looking at doing a forex training course, but believe me once you begin to learn about how to make money with forex, each new golden rule you experience is even more exciting than the last!  By keeping my money safe today I am still making money as I didn’t risk anything – and that’s the point.  It’s not about risk – and now I really get it!  It really does pay to listen and lock away the ego!

Well, this is a story of last week. I’m still on a voyage of discovery here and it’s probably one of the most exciting things I’ve been involved with for a very long time. I need to explain a few things so you’ll understand where I’m coming from – and more importantly, where I’m going, as I develop my understanding. Because this is SO much better than I have given it credit for up to now.

The essence behind this wonderful trading system is that ‘less is more’. A couple of weeks ago, we did a few days on money-management and I built a kind of plan for myself based on what I thought was an extremely conservative trading performance.

Last week, it hit me how clever this is. Instead of spending hours and hours trading our socks off to get as many pips as possible. We are taught to be ultra-selective. In fact, it sounds daft – but we are told to sit down NOT to trade at all, unless ALL the criteria we’ve been trained to look for is present.

This is more difficult than it sounds, because my instinct is to get in there and trade for the sake of it. The clever bit – once it dawned on me – is that instead of trading willy-nilly and treating like a game of chance, where losses go hand in hand with wins, I’m actually not risking my capital at all – I’m preserving it until I see something REALLY good. When I do, I take advantage of it and make hay while the sun shines.

At this stage of my apprenticeship, I’m allowed to take three trades per session (about an hour and a quarter for me) or, I stop for the day after my first positive trade. If I follow the rules laid down – and why wouldn’t I? – Win lose or draw I am never risking more than 1% of my total capital.

The clever part about this whole system is that by following this simple structure – I had a positive week last week. I traded four mornings. One day I didn’t trade at all because I didn’t see the criteria. One day I traded for 20 minutes to get my positive trade – and shut up shop. And the other two days I was at my computer for just over an hour.

The end result was, had I been a real-live trader, I would have made my money work for me to make a profit last week. But more importantly, I would have compounded my capital so that this week, trading the same percentage of what would be a bigger capital brings in more profit – for the same number of pips. This is compounding working in a magic way – because the plan is this.

I start with X amount of capital. I trade in the manner described and take no money out until I have compounded my capital to the point where I could take out a salary, but even after taking it, I am still compounding (growing) my capital, month on month.

Now if that isn’t making my money work for me, I don’t know what is. What’s the drawback? Quite honestly, it’s me. Holding myself back here is so hard !!!!!

But . . . I’ve been warned that ‘over-trading’ (that’s just trading on and on to get more and more) is a recipe for disaster. Apparently most people throw away ALL their gains by going mad and becoming possessed by the need to trade. I have to treat this like a business, be controlled, patient and disciplined. However hard this is for me – I can actually see that if I get this right – I really can change our lives.

Sorry this was so long – but it’s a much bigger thing than I realized when I started. Let’s see how I do this week

Sam

PS – It’s my birthday today!  25 again!