Our conscience plays a bad game with us. Even known about Forex trading laws, we still perceive the market like everything happens around us and for us. In the very beginning, when I have just acquainted with the currency market (long before becoming a successful trader), I’ve made this fatal mistake which could be a stake of my health. But I will tell you a bit later about it.
A little boy, John Foster, spent his childhood in a humble town Louisburg in North Carolina. I was playing guitar and baseball within my years at school – just like my other friends. Nothing special. After that, I entered the Louisburg College, as my family got no money to pay for my education at the university.
I moonlighted as a waiter in a local diner, serving people with hot steaks. And then, I wasted earned money on Fridays with my friends at different bars. But in the one fine morning, I woke up with an idea that I don’t want to live that way anymore! Here comes time to make serious step toward financial independence. But how to do this?
I found the answer occasionally. I came across with a book of Edwin Lefèvre – “Reminiscences of a Stock Operator”. Having read it to the end, I realized – that was the thing! That was the way I was searching for all that time! Nipping on ahead, I must say realization of the essence of trading came to me by far later. And this is the base of success for any novice – you will be able to make sure further. That’s why I recommend learn basics of trading binary options first!
But let’s get back to my story! So there the first obstacle waited – a bank has declined to give me a loan, while I didn’t have enough money to open an account. Taught by provident parents, I started to save my own fortune – dime by dime, doing any job. And then, finally, having saved enough to start Forex trading, I made my initial step to my long-awaited dream – to become a successful trader.
So, 6 years ago, I opened an account of a famous broker at the first time. I has thoroughly studied literature about trading, was analyzing news, watching the market with precise attention. From the very beginning of my activity I promised myself to avoid getting distracted by my ambitions. Just because of this rule, I managed trading without losses within starting 2 months.
It can’t be that easy and smooth in life! And when it seemed to me that my being got better, the following event took place. Exhausted by the work, I was going back home and didn’t notice the car swiftly flying toward me. Headlights, breaks’ swooshing…darkness. I came to myself in the hospital with my leg broken in several places. There was long treatment awaiting, and obsessed by emotions, I decided to play a big game. Yes, I insist on the work “to play”, because my deed had nothing in common with rational behavior at the market.
Inspired by my few victories and sure that everything happens because of me, I made a risky deal and…lost. That day, I lost 70% of my initial deposit. I could wait until my emotions could fall silent, but instead, I just wasted saved resources for nothing. Shame, anger to myself and a grudge against the whole worlds flushed me. But after that realization came. I took my first lesson at Forex, but wasn’t going to give up. That was the beginning of the way to be a successful trader. Dear friends, don’t repeat mistakes of any novice! Attentively read rules of money-management! Otherwise, you take risk to repeat this part of my story.
After harnessing my willpower, I left trading for a while, and having the course of rehabilitation, I was eager to be engaged in another job. I could save enough step by step then.
At that moment, I decided to come back into trading and try a new tool – binary options. Read in the quite frank article about what this derivative truly stands for. I must say that I didn’t stop watching for market movements for those long months. I was thoroughly noting all the Forex signals, keeping the diary and studying the fundamental and technical analysis. I got more than 30 notebooks written from cover to cover – so much notes I have accumulated for that period.
I returned into trading as a new man. I was no more attracted by enormous incomes and scared by trend changes. I began to think soberly and rationally during trading at Forex. In order to get rid of non-trade risks, I decided to start trading with a reliable broker from the very beginning. More information about selecting a one may be found in this article.
Month after month and year after year, I was unhesitatingly going toward my goal. There were many ups and downs, but I never lost more than 30% of my deposit. I finally found my trading strategy and individual style – the indispensable feature of any successful trader. The base of that was the bar analysis. Its centuries of existence and obviousness of information perfectly combined with chosen conservative style of trading.
And now let's talk about my successes! After 4 years of trading with binary options, I got stable incomes. My parents have forgotten about poorness, and I began to invest in other developing realms. I bought a house in Wake-Forest - one of the most perspective towns of North Carolina. And a few days ago, I purchased an automobile of my dreams - a while Ford Mustang.
I started traveling a lot, and met an amazing man during the one of my trips - a famous trader, Victor Samoylov. Just like me, he made his way to success from the bottom. And despite of the plenty of difficulties, he never gave up. Moreover, Victor has developed his own trading strategy, even several ones! And today, his pleasure is to share his knowledge via the own blog, and I got this idea, too.
When I came back home, I thought it's quite good to make a blog! We continued our friendly talking with Victor, and I realized my decision was good some time later.
You can ask me - why on Earth to keep this blog? The answer is simple - just not to make the same mistakes again. It's just like a way to look at yourself from the third person view, in order to be sure in the chosen strategy.
And I have a strong desire to help at least one man who's just acquainted with Forex trading market! Once, I had the lack of a competent person's help, who could stop my ambitions in the right moment. But the God has sent an insight for me and didn't let me get blind of an itch of gain.
I’ve identified 3 main rules of the successful trader:
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Sometimes, psychology is more important than all the market signals. Because Forex trading is the subtle combination of knowledge and intuition. Only having found your own proportion of those ingredients, you can bake a tasty money cake! Don’t look for the Sangrail, universal way of getting wealthy. Your only secret of being a successful trader lies in yourself. Remember this and keep the mind clear as thoroughly as you watch market movements!
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|Moving Averages:||Buy (5) Sell (7)|
|Indicators:||Buy (2) Sell (4)|