Archive for January, 2011
Where Did the Weekend Go?
Posted by: | CommentsAfter a much needed break over the weekend, I’m back in the driver’s seat of my forex lessons. I actually intended to work on them over the weekend, but I took in so much information last week that my poor little brain needed some time to let it all soak in a bit.
TGIF and Still Going…
Posted by: | CommentsGood Friday to you all. Diving right into the second week’s materials, lesson 13 begins to get into the Tools of the Trade. Sid begins by pointing out that this is not the trading strategy I will be using to trade, but rather the foundation for trading because it is important to be prepared and understand what I am looking at and what I am looking for. Read More→
Getting There
Posted by: | CommentsThree lessons to go and I’ll have finished last week’s assignments. The great thing about these lessons is that I really have been able to work at my own pace and as my schedule permits. I would strongly advise doing them daily and keeping up because it’s not nice being behind. However, it hasn’t been too difficult to try and catch up.
Charging Forward…Round 2
Posted by: | CommentsBack from the real world, I was able to squeeze in one more lesson today, number 9…Money & Leverage.
Finishing up on the money topic for now, Sid continues showing me how to change my pip value if I want to place a larger stop on my trade. This is important because I never want to risk more of my capital than is safe. The example Sid uses is very clear and helped me really grasp this concept. To close on this topic, using Sid’s pip value formula, “you control the situation by using the math to guarantee that you never risk more than you should for safe trading”.
Charging Forward
Posted by: | CommentsHump day (Wednesday) already…where does the time go? I’m diving right in today with lesson 6 which is about Mindset & Money. I found this lesson to be quite an eye opener. Sid states unequivocally that there is no magic system or strategy, but rather a change of my mindset is what is required.
Moving Onward & Upward
Posted by: | CommentsHappy Tuesday everybody! Rough start today…I think I’m coming down with something. Not to worry though, I did persevere in getting through a couple of lessons today.
Lesson 4 today showed me the importance of ‘stops’ and ‘limits.’ Sid started the lesson with a dramatic scenario in which I just lost 300 pips…OMG! Wait a minute, let me catch my breath.
Let the Training Begin
Posted by: | CommentsWell, the best laid plans always seem to get side tracked somehow. I planned to catch up on all of the first weeks lessons over this past weekend, but only made it through the first three. However, this does not discourage me in any way. I am finding the lessons very easy to follow. This makes me very happy! I think if they were cumbersome I might be having difficulty with it all, but because they are so simple to follow and structured for the absolute beginner, I am very confident that I will be caught up in no time.
Hello Everybody
Posted by: | Comments
Jody here! I’m excited to have this opportunity to share my journey into a very new realm for me, and that is forex trading.
I stumbled onto forex one day while sitting in the dentist office and was thumbing through a business magazine that was singing the praises of the forex market and how it is no longer an exclusive thing that only banks and businesses have access to.
With the advent of the internet, so many things are now so easily accessible to the average person it just blows my mind. So, it piqued my interest. Read More→
Jody’s Journey into Forex in 2011
Posted by: | CommentsLast year around this time, I agreed to put this blog on our website to track a beginner’s experiences in leaning to trade forex.
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