Well, its a long story about how I got here. I started looking at currency trading about a year ago. I don't remember exactly what drew me to it, or how I came to even know about it. But, I do remember searching Google and finding FXCM. I signed up for a demo account and drained it.
I drained another, and another. In fact, in all I drained 20 demo accounts, 1 standard lot account, and 2 mini accounts. In the end, I ended up losing about $4000.
This is alot of money, but I had heard about people losing over $100k in a few months.
I realized in a hurry that I had NO idea what I was doing.
Well, to make a long story short, my wife sent me off to a Forex class where I met a gentleman by the name of Paul.
Paul is a millionaire. He makes well over 7 figures a year.
Paul taught me how to trade effectively. It took a while, but I finally got the point he was trying to hammer into my head.
Sell when the market is overbought
Buy when the market is oversold.
Trade on longer timeframes
I will get more into how to do determine overbought and oversold conditions later.
So why $17.81?
Well, no special reason. It just happened to be what I had in a mini account I had set aside for "experimenting". I decided to use that account for this project.
I will show you how I will make a million dollars in 72 weeks. I know, you say "ya right". Well, I have a habit of doing things that people say are impossible. But hey that's cool, everyone is entitled to their opinion.
Let's get started.
Monday, November 10, 2008
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