Finding your Best Forex trading technique. Truck driver to Forex trader.
The start
Over the years I may have mentioned examples of trading successes. What some of the traders that are doing the Finding Great entries course are achieving reminded me of an exceptional heart-warming trading success that happened about 8 years ago.
There was an Australian truck driver that attended a live Forex course I was involved in. He had never had anything to do with trading. He had been made redundant a month before and was re-evaluating his life options. After all the long hours on the road and crazy times he had to work he knew he didn’t want to get another truck driving job. His redundancy payment and holiday leave pay out gave him a bit of capital and he was looking at ways of creating income. Forex trading caught his eye.
Forex trading success
Four months after the course I ran into him in Sydney at a NorthShore Advisory seminar and we managed to have some coffee together. He told me that he had taken his capital of $20 000 to an amazing $180 000 in 3 months. This can only be done in Forex trading because of the leverage provided by brokers. This was done risking no more than 3% of his capital per trade. That was almost 3 years of truck driver earnings in 3 months.
How did he do it?
He told me that the 6 weeks after the course he spend 14 – 18 hours a day trading and studying Forex. That includes weekend when he mainly watched YouTube trading videos and back traded. In the end he did not use any of the techniques learnt of the course but developed a technique to catch trends at the very starts of the trends very accurately.
Over this period, he studied thousands of charts in all timeframes using most currencies to find the simple pattern that provided him with seventy to eighty percent success and small stops and larger targets. He tried every technique he could find. Further, he back trading them or live trading on hundreds of demo accounts.
He joked that over that time he learnt chart language because he would talk to the charts and they would talk back to him in a friendly positive way.
Inspiration
This is an example of determination to succeed and learning from your own experiences. Instead of looking for short cuts he did the opposite. Necessity is the mother of invention … and he proved it.
I got together with him in London last year and I still can’t believe that he drove trucks for 12 years before finding online Forex trading. What an inspiration.