To say my life has been dull & boring would be a lie. Many twists & turns have seen me occupy the Broadcasters seat for a Television Station, record bets for my bookmaker father, mine for Opals in the desert, work on farms, knock on people’s doors seeking their media listening habits, hire out video movies, sell timber, metal and hardware, Manage Licensed Clubs, deliver bread, fill vending machines and perform various other means of earning a living.
So when presented with the opportunity to trade currencies, it was a case of “why not – I could do that”.
Like most, the promise of easy money (and lots of it) held a certain attraction and the asking price for a weekend course whilst hefty, seemed a small price to pay. After all, on the other side of that weekend, I was home free – no need to work another day in my life and look at the nice speed boat I’ll have berthed outside my brand new waterfront home – OMG – where do I sign?
Needless to say, the person who came out the other side of that weekend could no more trade currencies successfully, than solo fly around the world – without a plane! This experience is typical of the introduction to the Wonderful World of Forex for many people. Lots are disillusioned after their accounts dwindle; they write the adventure down to “experience” and declare FX a scam – never to discover their objective.
Others stick to their guns believing that the text book can’t be wrong – it must be me. Invariably, they empty a second account and the filtration process continues. Those that survive this second kick to the solar plexus are either lunatics or determined individuals. I haven’t yet discovered to which of these groups I belong but I’m extremely happy to count myself among them because on my “graduation” into the ranks of profitable currency traders it depended.
I’ve wanted to document this experience since discovering the key to turning the losses into profit but until I could look back a full twelve months and say that my account has grown consistently over that time, I refrained. I hasten to add that the year in question (Financial Year 2011-12) is widely regarded as the toughest trading conditions in FX history. There’s no question the road that I travelled is but one of many to this destination and I don’t even claim it’s the best but I’ll tell you what – it has been thoroughly enjoyable and totally enlightening. I’m more than happy to share it with you.
Probably my stubborn refusal to accept failure (especially costly failure), drove me to further research FX Trading and my very first tip to anyone considering this journey is to do your research (lots of it) BEFORE you part with your hard earned cash.
You probably have two choices to learn more about the market and how to trade it:
1) Join Forums and read text books, effectively teaching yourself or
2) Find a reputable mentor/coach.
My choice was #2 primarily because I became confused with the absolute plethora of material/differing opinions on the topic. Once that decision was made, it became which one of the endless list to choose. This necessary filtering process is very important because believe it or not, there are lots of unscrupulous operators lining up ready to fulfil your wildest expectations and THEIR pockets.
In my case, I eliminated every operator who charged an upfront fee – I’d already been that road! Next came the “let me do it right for you” brigade who promised to have me among the world’s top earners in no time. Frankly, not many survived those two screenings.
From that point I discovered that there were traders who allowed you into their trading rooms to sample their wares. This was an ahah moment for me and I decided this was the ONLY way to go. At the time there weren’t that many operators doing this so the field of likely candidates was small.
The points of difference that led me to Surfing The Pips numbered two. The first was the quality of the trade signals I was receiving – the success rate was outstanding. The second and I recognise in retrospect the more important, was the ability of the trader/mentor to “connect” with me. His attitude and method of sharing his knowledge appealed to me and I felt comfortable and in good hands.
I picked the strategy up reasonably quickly yet struggled with its application. After a few hiccups (mine not his) my temperament was tested and to his absolute credit, my new mentor recognised a flaw and completely changed the way I viewed and applied his strategy. This psychological adjustment is probably the major reason I can convey this story with a positive outcome. Among the many wonderful gifts in my life, I count this re-focus as an absolute standout.
Knowing what differentiates successful traders from not so successful ones is empowering yet extremely illusive. I now know why – it’s because a text book can’t feel what I feel, it’s because ONLY someone armed with the ability to “connect” with the student and understand the turmoil taking place in their psyche can harness their potential & convert it to success.
Most who read that will question its validity. If you are among them you are either not a successful trader or you haven’t tried to become one! It’s absolutely due to this that I count myself among those who have survived the disappointments and frustrations – the losses and the heartaches to emerge not only with a different income stream but with an entirely different perspective.
You won’t be surprised to learn that I am now part of the Surfing The Pips organisation but you may not understand the reason why. As with most things in life there’s more than one. The most obvious and first that will come to your mind is that I am compensated for what I do and that’s the truth.
The less obvious but to me MORE important reason is the concept of paying it forward. It is my absolute desire and commitment to pass this winning formula onto others and already, I’m reaping the rewards by witnessing new students grasping the strategy and beginning their trading journey.
Consider the reward you get from watching your kids perform to their ability and you’ll get where I’m at.
It can be done guys – I’m an ordinary dude who took the right path. If it helps you – I’m happy.
Oh – I’m also a great quotes fan and one that I like is the one I’ll leave you with – enjoy the ride.
“Success is getting what you want. Happiness is wanting what you get.”
Article written by Geoff Pyne, certified SurfingThePips trader.