Update: It's been a very bumpy first few months. I jumped around from idea to idea at first and lost some money doing it. Now I'm trying to settle into a style/routine, prove to myself that it's profitable, and then keep at it while.
The first 8 pages are a lot of talk, but I need to monitor my trades for the next month with a 2:1 risk/reward ratio that I'm trying out so I'll finally be using this journal for what it should be used for, to document trades.
Introduction
I was introduced to Forex back in 2009 and spent about 3-4 months doing a lot of research and draining a couple hundred dollars in a live account. Then I was introduced to internet marketing and decided to go that route because it seemed like a quicker way to become self employed (my ultimate goal at the time)...
...and it worked. A little over a year later I was self employed making more than the average person, and was loving it. I moved down to South Carolina with a friend and let the money get to my head. I won't go into detail, and don't want to for that matter, but basically I ran my business into the ground, ran out of money, and moved back in with my parents. This was over a year ago.
For the last year or so I've been trying to get back into internet marketing but it just hasn't been working out, and I've come to realize now that it really isn't right for me.
I'm at the stage now where I'm ready to build a career, and build a million dollar empire out of something... choose one thing and become world class at it (something that's always been a core dream of mine).
Forex is my medium that I choose to base my career and life around, and conquering the forex market is my challenge that I have for myself.
[Edits to original post]
The Challenge
This thread is devoted to charting my trades, reasoning behind those trades, my ideas, collaboration with other traders, and to provide inspiration to those who seek to conquer the forex market.
I will trace my steps as I take a $500 trading account and turn it into $100,000 over time. The live trading account will be opened in the first week of January 2013.
Throughout the year I will also take money from my day job, and the small amount I still make from internet marketing, and begin to pay off debt that I have acquired.
The Goal
To be consistently positive in my account by the end of 2013, and have at least $10,000 in the account (through a combination of profitable trading and being able to deposit more $$$ into the account as my debt decreases to $0.
To go into 2014 knowing that I am debt free, have over $10,000 in a live trading account, and know that I can take that $10,000 and consistently add to it on a month to month basis through systematic trading and good money management.
In Conclusion
This journey will be long and hard to accomplish these goals. With $20,000 in debt to pay off, a full time job, a part time online job, and learning to trade forex profitably in a live trading account... I've got my hands full. But I know I'm the one for the job.
Anthony Robbins turned his life around 360 degrees in no time at all, and so can I.
Wish me luck, I start today.
The first 8 pages are a lot of talk, but I need to monitor my trades for the next month with a 2:1 risk/reward ratio that I'm trying out so I'll finally be using this journal for what it should be used for, to document trades.
Introduction
I was introduced to Forex back in 2009 and spent about 3-4 months doing a lot of research and draining a couple hundred dollars in a live account. Then I was introduced to internet marketing and decided to go that route because it seemed like a quicker way to become self employed (my ultimate goal at the time)...
...and it worked. A little over a year later I was self employed making more than the average person, and was loving it. I moved down to South Carolina with a friend and let the money get to my head. I won't go into detail, and don't want to for that matter, but basically I ran my business into the ground, ran out of money, and moved back in with my parents. This was over a year ago.
For the last year or so I've been trying to get back into internet marketing but it just hasn't been working out, and I've come to realize now that it really isn't right for me.
I'm at the stage now where I'm ready to build a career, and build a million dollar empire out of something... choose one thing and become world class at it (something that's always been a core dream of mine).
Forex is my medium that I choose to base my career and life around, and conquering the forex market is my challenge that I have for myself.
[Edits to original post]
The Challenge
This thread is devoted to charting my trades, reasoning behind those trades, my ideas, collaboration with other traders, and to provide inspiration to those who seek to conquer the forex market.
I will trace my steps as I take a $500 trading account and turn it into $100,000 over time. The live trading account will be opened in the first week of January 2013.
Throughout the year I will also take money from my day job, and the small amount I still make from internet marketing, and begin to pay off debt that I have acquired.
The Goal
To be consistently positive in my account by the end of 2013, and have at least $10,000 in the account (through a combination of profitable trading and being able to deposit more $$$ into the account as my debt decreases to $0.
To go into 2014 knowing that I am debt free, have over $10,000 in a live trading account, and know that I can take that $10,000 and consistently add to it on a month to month basis through systematic trading and good money management.
In Conclusion
This journey will be long and hard to accomplish these goals. With $20,000 in debt to pay off, a full time job, a part time online job, and learning to trade forex profitably in a live trading account... I've got my hands full. But I know I'm the one for the job.
Anthony Robbins turned his life around 360 degrees in no time at all, and so can I.
Wish me luck, I start today.
"If you won't risk the usual, you'll have to settle for the ordinary."