My name is Nick McDonald. I stumbled across forex trading while in a doctor’s waiting room looking over an investment magazine. http://www.liveforextrading.info
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My Journey to Becoming a Professional Forex Trader
1. My Journey to Becoming a Professional Forex Trader
My name is Nick McDonald. I stumbled across forex trading while in a doctor’s waiting room looking
over an investment magazine. In the rear of the magazine was a brief article about a gentleman that
had converted a $2,000 investment into $100,000 inside a 12 month period.
The article was not a sales pitch, it was a basic interview with an average person that had created an
enormous return from trading foreign exchange.
From this point I decided to research the world of forex in greater detail. I bought several books,
researched the internet, opened a practice account and eventually a live account with FXCM. From
there I began watching webinars and learning about the use of indicators and different forex trading
strategies. I was trading a few hours per night, albeit unsuccessfully but I was hooked!
As I continued to study the opportunities available I found a live Forex Trading Room where I could
watch and ask questions from professional forex traders. This forex trading room opened my eyes to
an amazing opportunity to learn in real time and copy the positions of other successful traders.
Unfortunately the live forex trading room that I discovered only offered a short term guest pass for 2
weeks; thereafter the charge was $5,000 up front and an additional $200 per month for access to the
trading room. A price that I was unwilling to pay.
I then began searching for free live forex trading rooms, however I was only able to find one mediocre
version that didn’t offer the level of interaction that I was seeking.
By this stage I was becoming frustrated by the apparent simplicity of forex trading, and my inability to
generate a consistent profit from it.
It was at this time friend of mine introduced me to automated trading through the use of a forex expert
advisor (also known as EA). The idea of a computer trading to a strict set of rules appealed to me, so
I purchased my first EA (Forex Bulletproof), set up a remote computer to run the EA 24/7, funded a
new account and crossed my fingers.
My first experience with a forex expert advisor was an anticlimax. The EA didn’t trade for 30 days, at
which time I requested a refund. However this experience exposed me to the opportunities that are
available through automated trading, so I invested in another two EA’s. Forex Growth Bot and Million
Dollar Pips. These two EA’s performed magnificently over their first two weeks. I made over $6,000
during that period and began thinking about quitting my job and retiring within 6 months. Alas, it was a
short term windfall followed by months of frustration and disappointment. I lost the $6,000 plus a bit
more running these two forex EA’s.
Just when I was close to giving up on the goal of becoming a professional forex trader I noticed a
small advertisement in the local paper offering a mentorship to help generate large returns in currency
trading.
I called the number and was introduced to a 75 year old retired currency trader that had developed his
own semi-automated trading system capable of generating profits of 100% per month. His services
cost the princely sum of $5,000. After some shrewd negotiating I had secured his services for $2,500
and a copy of his semi-automated EA was ready for testing.
I no longer run this system because of the risk of heavy draw down (I once lost 40% overnight),
however my mentor did teach me some fundamental lessons about becoming a profitable trader.
2. - He only traded the currency cross GBP/USD. He rightly pointed out, that if you can generate
40%+ per month trading one currency, then why confuse yourself by considering trades on
other currencies. This pair is also one of the most volatile and predictable.
- He only traded during the London/US trading sessions due to the increased volatility.
- The currency tends to have a major move at least once during these sessions, if it can be
identified then a return of 50-80 pips is typical
- Set trading rules, and stick to them! Don’t let your emotions get in the way.
- Don’t over trade. There are opportunities to profit from the market every day, don’t feel like
you’re missing out just because you missed out on a move.
These experiences have helped me develop my own system of identifying a daily move on the
GPB/USD and profiting heavily from it. I am now a professional forex trader and have developed the
worlds most transparent and inclusive free live forex trading room at liveforextrading.info.
I send out these forex trading signals for free to every member within the live forex trading room.
There is also the opportunity to have my trades automatically copied directly into your account
through my custom made trade copier software.
Forex trading truly has the potential to change people’s lives if they apply themselves to it. I have not
witnessed an investment vehicle that can generate more profitable returns in such a short period of
time.
http://www.liveforextrading.info