Guess it has been 3 years since i learnt forex here

Trading Discussion
1

Hi all,

I found this site about 3 years or more ago, wanted to drop back in and say a big thank you to the site owners.

Its what happens when you get to nearly 40, you start to go back to places or things that had a profound effect on your life.

So, what am i doing back here ?, i want to share my journey with you, pass on some of the things that i have learnt along the way.

oh yes, this is just a “pass it on”, hopefully you can pull any good bits from it.

If it helps just one person shorten their learning curve, then its worth it.

I will be posting charts aswell, so you can see the method i use.

Notice i say method, i do not like to say system because its not! a system has fixed perimeters. The forex market is living & breathing, it changes constantly, we have to understand the different characters the market shows us. Therefore i am flexible.

Where did it all start for me, well , HERE.

Regards

Warren

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Hi, on a sunny morn at 8.00am in the UK.

Where did it all start ?

Im going to start wayyyyy back because i think it is applicable and there are lessons i learnt along the way. (or did i ?)

When i left school and went to work, i started training in plumbing and heating, i worked for a small local company. Headed up by 2 brothers, these guys worked hard and in return they were earning alot of money and had all the trappings to go with it.

My feelings were " i like what they have, how do i get some ". I worked hard, real hard. I developed a burning desire to have what they had, talk about ambitious young 16 year old.

At this time my Father run his own business in blinds and carpets, i would help out now and then , but this desire for more money led me to work weekends for him aswell. Some weeks i would clock up 80+ hours per week,
MONEY, MONEY, MONEY.

I done this for years, i earnt good money, i spent good money.

My mindset was, to work as much as i could and spend the money on STUFF
This gave me a kind of ego trip," i can just buy that " i would think.

You see i didnt respect money, i know i was young. I had planted a seed that would stay with me years.

When i was in my late teens, still with the fire in my belly and still full of energy, i was approached by an older freind regarding MLM. WOAW… how much money !
I think i spent countless days calculating all the possibilities of how much money could be made, how it would change my life and what i could do.

I had spent years chasing a dream of pots of money, i think i have tried every fly by night method ever brought out. I did skirt across trading about 15 years ago.

Because i put my name down on opportunity seeker lists everywhere, my mum’s letterbox would overfill with every get rich quick scheme out there.
choices, choices, well looking back i didnt really do any effectively, i would flit from one to the other.

I had no proper plan, but would any of these work, possibly?

I was still plumbing, working hard and my wages were edging up, but for me , not enough.

I guess at this point money was the all important, it would consume my days, just thinking up different schemes and plans. Looking back thats what did effect my life for the next 20 years.

I know this has nothing to do with trading yet, but it is my story and gives you a little bit of history .

Iam going to talk about my trading career, but i thought it was important to cover my motivation and what eventually led me to trading.

In my next post, it gets ugly. Where did it all go wrong ?

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Sounds interesting, looking forward to hearing more.

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Thats right the last 20 years of my life i have been chasing a dream, but why did it all go wrong.

Well not so wrong the last couple of years !, but that is for another post.

[B]What is it about greed that makes people do irrational things[/B], i know i did. This is the part that hurts and i have to live with it everyday.

Some 18 years ago i met the girl of my dreams at a bbq, i only went along to light the bbq, funny how things happen. She knew i worked lots of hours and after that day our love blossomed, quite quickly actually :slight_smile:

She knew i worked lots of hours and accepted that, it gave us money to do things we both thought. The problem is you get use to the extra money and never seem to do anything useful with it. Well im sure we both thought it was useful at the time, we were young.

What does matter when your young ? having a good time if i remember right.

We got engaged after 6 months, the start of our life together.

It wasnt long before i moved in with her and her mum…also the 2 brothers. They soon saw that i always had a pocket full of cash, i remember her youngest brother saying to me " your going to make my sister rich"

Back then i felt kind of smug about it. Now i just feel sick about it.

She got a job in a bank, at our local town. Life jogged along for a while, then we decided to buy a house together, low APR% because she worked at the bank, SWEETTTTT.

We found somewhere, first house we looked at actually. She loved that house, really loved it.

Now going from renting a room to owning your own house has a change on the old budget. Well i really never use to budget.
We thought we would look for some other ways to earn a little extra, we tried a few things…chain letters…lol. I hooked up with a guy who was heavily into mlm (raised its head again), we spent alot of time together, jumping on each new idea. You know the next big thing.

I spent many nights cold calling on the phone new prospects, the first few calls worried me big style, talk about nervous. LOL, brings back some memories. I tried with all my energy to make it work, spent time going to seminars, RAR RAR RAR.

Marriage, then our first child, you blink and time just flies by. On my 5 mlm project, why dont these new ground floor companies ever last! let alone get the product they need off the ground.

Well, i had struck some success and was getting a small monthly cheque for my efforts. I was so sure that this one would work. I didnt even discuss my thoughts with my partner about leaving my job.

When i gave my notice at work, i didnt tell them what i was going to do.

It wasnt long before the bills were mounting up and i would hide them , yes hide them. bloody crazy i know, i had this image to uphold.

City slicker, with a couple of hundred pound cheque once a month, if i was lucky. Was i really on this planet!

House
Wife
Child

Hundred pound cheque

?

And i had given up my job…

Thats enough typing for tonight, i will post the rest of this section soon

Warren

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I am holding my breathe waiting and wishing it all turned out ok for you. After all it wasn’t because you did not try.

                            Best Wishes Ken
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great thread warren I am very much looking forward to more :smiley: I can already see you that your story will reveal some real truth about life and about the pursuit of being self made.

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Yes do keep it coming Warren! Did you ever try writing? - You make a good story! :slight_smile:
I can recognise myself in some of what you say, and I’m still young. Young, but not “making the most of my youth” it seems. But then, maybe that is a dream, an un-reality that you hear about but no-one lives.

Ach, it’ll all be fine when I make my first million… (!)

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Only a matter of time

More outgoing than incoming is a recipe for disaster. I was blinded by my own desire to provide for my family, that’s why we push harder, for a better quality of life, right ?
I didn’t notice but my partner, started to get quite depressed, you could say it was the time we wasn’t spending together, you know when you are working on projects, going to meetings and spending time on the phone. Its important to keep pushing when you feel you are almost there.
Or
Was I a mile away from the truth!

Banks act quite quickly when you owe them money, that’s right, the letters I were ignoring were getting very serious. I told my partner, she was real upset, she told me off big time for giving up my job. Ok, so things were bad, but the housing market had been going up, but not enough for us to remortgage. We sold for a profit and moved in with my mum, long story short.

[B]because of my actions we lost our family home[/B].

The above line will stay with me the rest of my life

We planned to buy again when the housing market went down. Well, property has more than tripled in 10 years or so, I know that house did. If you think about it, if I had sat on that property and done my job, it would be a great kick start to the overall plan.
Instead we were living at my mums, cramped and fed up. I had to eat humble pie and asked for my job back, that was the least I needed to get back on track. The mlm projects I was working on collapsed, lol , looking back now, it was bound to happen.
I did get invovled in more mlm , 1 of them blew me away how quick it grew, but after months of frustration it amounted to nothing more than a product that couldn’t get of the floor, anyway enough about mlm.

We gathered enough money to rent somewhere,give my Mum a bit of a rest. Family is always there when you need them, i consider myself to be very lucky i have many friends and a supportive family.
Despite what i have done in my time, they are still by my side.

Along comes no2 Son, joy of joys. There is something about your own children that makes you look at life different.

After 15 years service for the local plumbing company, it was time to go.
I was fed up with the greed of them and being owned for 48hrs a week

Thats right “[B]OWNED[/B]”

I wanted to go it alone, be my own boss, you know all the good things that come with it. But i also knew that it would take alot of hard work.

I just didnt realise how much

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pls continue with your story :slight_smile:

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I got to admit its kind of like having my grandpa tell a story…He gets it going real good and then falls asleep…

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yea, apart from his last post was 2 months ago lol… I think grandpa is dead.

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Agrrrrr I can’t believe you didn’t end the story … Come on man everyone is waiting …

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Its all from Rich dad /Poor Dad buy and read it…all are there …!!!:slight_smile:

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Yawnnnnn,

Ok so you think i have been asleep for a while, eh ?

Sorry for leaving you guys with baited breath, but the fire was burning nice and warm, comfy chair…god i love that chair. You know when you wake up with a cricked neck and dried dribble down your chin… lol

Ok enough.

Let it be heard i am BACK.

I need to finish what i started.

And so do you, dont leave something unfinished it may come back and haunt you.

Give me a day or so to collect my thoughts

Warren

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Hi,
No matter you are an experienced trader or a beginner, you will have to make sure that you will have a concrete plan when you try to make money with Forex.