I’ve been suppressing this urge to tell this story for a long while, and all of a sudden I feel it’s the right time, I just know it is.
Years back I took the Sid Wyemann course, and for £500 he gives you a 14 day money back warranty on a 6 week course, in the first two weeks, he shows in detail how to use the Oanda platform, so you think there’s better to come, he only takes newbies!
Then in the last week, what does he do, he tells you about the ‘Cat and Mouse’ strategy, for the life of me I couldn’t trade it, but from a very few others I figured it did work, and this part of the story is on the C & M thread, I wrote the simulator, and I practiced and practiced it, and did trade it profitably, because you could practice the action 10 times an hour as opposed to 10 times a fortnight, heck for a £100 (well £99) it was mega value for money compared to what he was offering, it’s like ICT said the other day, the expensive part is the time you spend learning. I also knew that a very few people were trading it profitably before I developed the simulator, and so I had the idea of getting that fast learning thing.
Now the thing at this point was that I was so poor I couldn’t afford my drink, at one point I had to stop putting milk in my coffee because I couldn’t afford it, but I was so committed to the Forex project because the potential was clear.
The problem for me was that I do like my drink, a little excessively (note the contradiction in terms;) ) at times, but a good drink with friends on Saturday night, wouldn’t give me a clear enough head to trade it until Wednesday! Yes, a hangover on Sunday, only 95% on Monday, then Tuesday to focus on what you should be doing, and Wednesday the 100% clear head to trade, then on Thursday it’s getting to the end of the week!
So when I started earning from it, I could once more start to enjoy what I enjoyed, I did actually raise my original trading capital from scratch from my PPF site after going bankrupt, you have no idea how little it was, but the compounding effect works, and I’ve been careful with my actual trading capital, and trading when the going is good and stopping and learning when I started hitting losses. The other problem was that as well as having to have a mega clear head and a mega focus on the long term, was the question if that particular volatility was sustainable in the longer term, that I cannot answer, all I do know is that it was and maybe is still profitable and I gave a thousand times more value for money than the Sid guy.
It makes me laugh, and sometimes I get annoyed with some of the naysayers, that say that I’m on here to advertise my site and that’s the way I make money from forex, I tell you the money I’ve earned from that site, wouldn’t pay most peoples food bill, I have earned more money trading from what I’ve learned from you guys here at Babypips.com.
That’s why I’m always at it with all these newbies advertising their wares, they think they can come here just to get clients to make them a tonne of dosh. It dont work like that, and I’m sure I’m doing them a favour by putting them off so they don’t waste their time thinking that, that is the case.
I will finish with some genuine thank you’s, first of all to petefader which whet my appetite to realise that real analytical profitable trading was possible, secondly but more importantly to ICT, for which I will never forget the day he commented on my ‘15m chart basics of profitable trading’ thread, that day it made me think I need to take a really serious look at his ‘stuff’, ICT - you showed me so much respect for what I was trying to do. Last but not least, all you guys (and galls, please accept the terminology, I use it inclusively and certainly not exclusively), you are are so much help.
Let’s do this.
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