First, I would like to thank you for visiting Forex Mentors. Your support means a lot. Thank you.
I would also like to apologize for all grammatical errors you might find on the website as English is not my first language. Why did I make it in English then? Simply because everything I have ever read and every video I have ever watched about Forex was in English. Although I tried to avoid mistakes, here and there might be some word order mix up. Please try to ignore those and focus on the point.
Also, there will be no fancy and long introductions to history of trading or long articles about biographies of Technical Indicators’ creators. There are lot of good websites already covering these topics and besides, I think knowing those won’t help you anything in your ForEx trading. Everything on the website is written straight to the point and in easy to understand way to help you start trading.
By now you probably know that ForEx is THE largest market in the world. This means there is lot of money involved and where is lot of money there is a lot of people after that money.
Avoid Shiny Object Syndrome
Everybody will try to sell you something, promising miracles. Either it is a signal service subscription or some Fx robot that will do trading for you or something else. Watch after your money! Your money is your main asset in ForEx trading and you don’t want to throw it away. Everything you need for successful ForEx trading is already free. Just keep focus and practice.
Material that is available to you on the website is enough to get you start trading ForEx and it is all free to use. When I say “material” I mean ForEx step by step PDFs that are easy to download and print. If you have any problem downloading PDFs just use the contact page and I will send them to you.
Those ForEx trading PDFs and articles on the website are basically my ForEx study materials in PDF format that I made when I was coming back to ForEx trading. I had all those taped to the walls when I was starting my second ForEx account.
Some things will be repeated over and over again throughout the website. Those things are important and you need to memorize them.
How I Started Trading ForEx
My name is Pedia and I first heard about ForEx back in 2009. What I did is I stumbled on the website where this guy was promising thousands of dollars made with his course. There were some screenshot proofs of hundreds of pips made, pictures of him and his brand new Mercedes, he and his wife in the Caribbeans… I was hooked.
I cashed out $199 for the course, downloaded and watched 2 GBs of videos. The course was basically 2 hours of him showing how to use RSI indicator and Bollinger Bands. Now when I look back I see that he was an average trader, but I must admit he was an excellent salesman. At the end I have almost gone for the second course he offered, Japanese Candlestick ForEx strategy, for $299.
I thought I scored a jackpot. Finally, I found a way to make quick and easy money. After buying that $199 course I had $350 left to start real ForEx account. I was so confident about it I reasoned my best friend to jump in with her $650 so we can make even more money. She was reluctant but eventually she agreed and I have opened $1000 real money ForEx account.
I started trading and, when I looked back at it years later, I realized I have made every possible rookie mistake I could. Although I thought I knew everything after completing that 2 hour course the truth was I knew nothing.
I knew nothing about protecting my account, about calculating volume, nothing about ways to get precise stop loss points. But most important, I was doing it with completely wrong approach. I wanted to make quick bucks and it does not work that way. It fired back at me and I lost everything with lightning speed.
Now. Read. That. Again. It took me two years to get back at where I was before trading ForEx. That’s how hard it hit me.
Four years passed before I have installed MetaTrader platform again. Although I knew ForEx trading was a real deal I was afraid to try it again. Every thought of ForEx brought back that painful memory and bad taste in my mouth. On top of it I had no money, which was good, meaning I can’t loose what I don’t have.
In those four years many things happened. I have: found a job, lost a job, found another job, had near death experience, quit drinking, stop smoking and got a new baby. In that particular order.
Not a Single Worry
With new job I was making more money and my blue days were overwritten with this new reality. I had enough money in my pocket, I even got a new car. I was going out a lot, partying, drinking. I did not owe anything to anybody and life was good. And that is when it happened. One day, out of the blue I started having terrible toothache.
Instead of going straight to the dentist, I took some pills and with time passing it only got worse. By the morning I was all swollen. This time I went straight to the dentist. He looked at it and said it should be taken out but not as long as it stays swollen. I insisted to take it out and he eventually did.
Next three days I could not speak, I could not eat, I could not open my mouth. I thought I was dying. And all I was thinking of was my family. Nothing else mattered. Money was not important, cars, phones and status symbols were all worthless. Everything was crystal clear. It was all about family.
One may say that I have exaggerated and overreacted over a toothache but that does not change the fact that I was changed. It did it for me. I changed my way of life for 180 degrees. I quit drinking alcohol completely. It wasn’t easy but I did it. I stopped smoking and started meditating a lot. I started caring about little things and living the life in the moment. And not forgetting to say my thanks.
Next time I thought of ForEx trading I was not thinking about it in terms of money; I thought of it as a challenge. I started ForEx trading again, 4 years after opening my first account. I have opened demo ForEx account and for the first time started really learning about ForEx trading.
Don’t rush into ForEx trading. Take as long as you need. It took me six months to gain confidence in my trading decisions and even then I did not tell anyone about opening real money account. When you open demo account there is absolutely no obligation to continue with real money ForEx account. Remember that.
Rethink your reasons for trading ForEx. Use the PDF materials and resources from the website and practice. Don’t over complicate things, keep it clear and simple.
If you do appreciate the effort and you want to support me and the website please use the donation page. You will help keeping the website fast and updated. Thank you!
If you are practicing Islam and considering trading ForEx please read this article first.
All the best to you and your family,