wow un-expectable answers ,
well i was first introduced to the market after a commercial on the radio about earning 500$ every month for placing 300$ in a live account for 5 minutes work a day, and an invitation to a seminar explaining the steps and it’s an introduction to a 3 days course , i was 19 back then my first year in collage and in needed the money to help paying my tuition , and that was tempting a that time , they asked 750 $ for the course + we’ll get 3 month paid signals from FXCM, it seemed very reasonable to me at that time and i had to secure the money for the course , i was able to gather 250 $ from her and there , I was still short on the other 500 $ , so i started convincing my dad about it , i didn’t bother doing it with my mom because she considers it gambling :rolleyes: , i attended the course which was held in Beirut and was away from my town , i stayed in my aunts house saying to her and mom that i am attending a university course . In the course they give an overall look about the forex market and some highlights about fundamental and technical analysis (RSI EVENING STAR THE HAMMER etc. ) no one cared because we all wanted to learn about following the signals ( it’s not that hard ) .
They said that we will lose and we will win but since signals have a 75 % overall winning stream for every 10 trades about 6 -7 will be victorious :p, after all the instructor said he worked on wall street and received a half a million dollars education in Harvard , anyway imagine the whole place was full i can say about 80 students (imagine 750$ * 80 every week ) anyway after placing the additional 300 $ into live account ( i convinced my poor father to give them to me filling him with dreams of a prosper future ) i started trading live from the beginning ( no demo ), the signals as you know can come at any time during the day might be during night during morning depending on which market is open , the big problem is that i had to trade all those signals with no exception and since there is like 5-6 signals a day on average , i was able to catch the half of them, the other half might occur during my sleeping time or while attending a class so that the end of the first month my account was wiped out and this while trading on only 1 lot per trade , another problem was that i had to follow the trade i took until they send another stop loss or take profit signal or to buy a new lot for the same pair i took , they promised about instant sms but nothing .
anyway even i wouldn’t wake in the middle of the night or miss class for a signal , it was a huge issue of time management. My project failed sadly , even many of those whom i met in the course also got their accounts wiped out , i later convinced a shoe store owner to trade in forex , he loved it, he had the money i had the knowledge so i made a new account for him and we traded based on sentiment and news , believe me it was better then those darn signals , we won the first months then we lost big time but we went back and we won several trades and we managed to make a very good winning stream but he started to play on his own , then i left the guy on his own and then went back several times later with some losses and wins but never gave it seriousness
I love forex a lot and I want take it a seriously in my life but I am waiting for some free time and some dispensable money , thanks to school pips I have a better idea now about what is the way to the market ,no fake commercials can fool me like before