I'm Still Waiting......???

Well its been several weeks since I officially took this site live. I've got Google Analytics so I know that there are people coming to the site and are reading what I've got to say about my experiences with the forex. However, I have yet to find even one person who has proved me wrong by either contacting me directly or commenting on one of my posts about positive experiences that they have had in the forex market. So at this point my conclusion is this. We've all been suckered in by all the ads on the Internet into actually thinking that 100%+ returns annually are possible. We've then deposited our funds into one of the many forex brokers out there and ultimately lost all of those funds for any number of reasons. See folks, this is exactly why I created this blog. To see if this same forex phenomenon is happening to everyone or if there are people out there actually making money. My one and only goal at this point is to make money in the forex. It should be obvious by my site that I'm not in any way, shape, or form trying to make money off you through Clickbank products or whatever. I just want an interactive site where we can all succeed as forex traders. Don't be afraid to post your comments good or bad. It is the only way that we will have success.... by working together with the common goal of becoming smart and knowledgeable traders. Lets get to work traders!!!!

Do Forex Advisors Even Exist?

The majority of my investment experience over the years has been related to the stock market. It is very easy to find an advisor who is more than willing to help with your investment objectives. By no means am I saying that they all know what they are doing, but at least they are our there. So I've been actively trading the forex with my FXCM Micro account for about 4 months with minimal success. I will go into my actual trading in later posts, however at this point I could really use some help from a forex advisors. As I've said in past posts you can find ebooks and autotrade systems to help with your investing, but where are the actual people (aka forex advisors) that specialize in the forex and offer their services to potential investors. I really don't want to think that the forex is a big scam, but come on..... Why can't I find any individuals that are willing to really help me to become a successful trader? Even since starting this blog I've gotten emails about these so called fool proof strategies to make 100%+ returns annually, but have yet to speak to someone directly. I would just love for one on my readers to prove me wrong about the forex. Help me find someone that is willing to coach me on what it takes to make profits and has the track record to prove it!

The Forex Mystery

I've come to the conclusion that there is an interesting phenomenon that seems to be happening with forex traders. Almost every person that I have ever talked to about the forex has either lost money or is too afraid to even invest. So we have all these people that seem to have had such a negative experience with the forex and yet the Internet is flooded with a plethora of people that claim that there are millions of dollars to be made trading the forex. So the question is......"Who are the people making the money?" First and foremost it is obvious to see that the brokers are raking in the big bucks through pip spreads. Second, all of your affiliate marketing gurus are making the big bucks from selling autotrade systems and ebooks because they are everywhere on the Internet. So somebody has to be buying them or otherwise you wouldn't see so much of it on the Internet. So where does that leave all of the rest of us? I have had some minor success in the forex but nothing like what these ebooks and autotrade systems claim to be making. I've always tried to live by the mindset of, " If it's too good to be true, it probably is," but I'm still very intrigued with the forex. Lastly, it seems as though no one is willing to help out a new forex investor without having them first purchase a trading system, seminar, etc. As I've said in previous post, I've worked a lot in the stock market and there seems to be a lot more free information and help available to investors, both beginners and experts. Not only that, I've also had the opportunity to participate in various investment clubs which greatly helped me in learning from others. Don't get me wrong, I know that there is some stuff out there to help new forex investors, but in my opinion the forex is still a mystery.

At Least It's Not My Money!

I forgot to mention that when you sign up with FXCM Micro they credit you with $25 just for opening the account. So I thought, "Great, at least I'm not going to be losing my own money." The $25 hit my account and I was ready to roll. As I said before, the trading platform was very user friendly and I started placing my trades. I did have some technical analysis experience from stocks so I decided to apply some of that same logic to how I was going to place trades with the forex. I started pulling up charts and adding new indicators and before I knew I had experienced "Analysis Paralysis." I had so many charts and indicators that I didn't really even know what was working and what wasn't working. This is where the frustration begins and it gets worse from here.

Just another scam or my road to riches?

So my funds hit my FXCM Mixro account and I was ready to start my journey to early retirement. Let me tell you a little about one of the main things that kept bugging me about the forex. It seemed to me the majority of the people out there were trying to sell me some type of ebook or automated trading system. Everyone was looking to make a buck off of me. Don't get me wrong I am more than willing to pay an individual fees for the management of my money because I do believe that there are many very successful advisors that help many individuals succeed financially. But the forex was different. It was near to impossible to find an individual that was interested in managing my money in the forex. They just wanted a quick sale through their product and wanted to get out. That was very hard for me to put my hands around. If these people were so successful as forex traders then why were they not more interested in actually managing my money? Things just weren't adding up, however I was still willing to see what all of the hype was about. I was getting pretty skeptical but remained optimistic based on my past success in the stock market and hoped that that knowledge and success would continue with my new venture in the world of forex.

Let's give it a shot!

Despite my lack of knowledge, I decided that I was going to find a forex broker and deposit some funds and see what it was all about. I did a little bit of research and I must say that their are a ton forex brokers out there. That should have been one of my first signs that there was something that was just not quite right about the forex. I decided to go with a broker called FXCM. They allow new traders to fund their account with as little as $25. It's called a micro account. So I though "What the heck, it's only $25. Let's give it a shot." The platform was very user friendly and it was pretty easy to figure out how to place a trade. The thing that boggled my mind was the amount of technical indicators that were available to use to help with your trading. Being fairly experienced in the stock market, I knew indicators like moving averages, the MACD, Stochastics, and relative strength. But let me tell you, that was just the tip of the iceberg of what was available to use with my forex technical analysis. This should have been my second sign that the forex was very different from any other types of investments that I have done in the past. Still it didn't matter, I made my deposit and was ready to make those 500% returns that I had heard so much about. If I only knew what I know now, my decision to make that first deposit might never had happened!

Is the Forex for real?

I was introduced into the forex while sitting in one of my classses at Arizona State University. I had dabbled in the stock market over the years but had really never heard of the forex. I must say that I was very intrigued by the concept and the money that could be made. During one of our classes, we had a guest speaker come in to promote his forex platform and trading strategy. I waited up after class to talk with him to get a better idea of what the forex was all about. I went home that night and did a Google search and found a ton of people trying to sell me their fool proof system that was guaranteed to make me the big bucks. Being a college student, I didn't have a lot of extra cash a spent a little time browsing through everything and then put my forex investing on the back burning.
Well, several years had past since graduation and a co worker of mine and I got into a pretty in depth conversation about the possibility of placing some funds with a forex broker. We talked a lot about those crazy high returns that all of the forex marketers talk about and we wanted to test it out to see if if was for really. This is initially were my adventure in the forex begins. My ultimate was goal was to find out if it was really possible to make the types of returns that these marketers were talking about.