Then a revelation hits me one morning while I am reading the newspaper. I read a story about Japan's economy and realize that was why the trade I made two days ago went bad. This was my first big turning point and a huge tip for those of you that ever read this short story. My newspaper had it two days after it happened, which does not help me at all. I check the records on my demo account and I able to determine what time the story was released. Because the Yen, started to weaken although the trend line from the software informed me it should getting stronger.
Anybody that has read the paper knows that all of the newspapers subscribe to wire services like the AP or Reuters. I do a search for Reuters because I wanted to keep their site up all the time and watch the news in the business section as it came up. After a day or two of doing this I notice a button for a RSS feed. I did not have a clue what that was, but I put the mouse on it and click it anyway. Wow, the "Holy Grail" of information for FREE. I could not believe it. What a RSS feed is a system where you receive continues information for free at the same time it is going across the wires to the newspapers. They will send to your computer after you sign up for it. Not only that, I am able to subscribe to the channel I want. Just like a newspaper that has different sections, such as; local new, world new, business, or sports Reuters offers you the same thing in a channel. I sign up for the business RSS feed. Finally, now I am starting to get somewhere.
I feel a lot more confident now and it is back to the demo account, again! I am not going to invest any more money until I am sure I can make money. Now I have three screens up constantly, the demo account from the brokerage firm, the software which is based on currency trends and the Reuters RSS feed from the business section. I keep playing with it and now instead of losing a load of money I am only losing a small portion. I am getting closer to where I want to be. But I am still losing money and I need to know why this is happening? I am never going to get where I want to go, which is quitting my job and telling my boss to stuff it if I can't make money doing this.
Every time I go to bed I can't sleep because I am now obsessed with be able to make money trading currencies. I just keep thinking about why I can't make a profit at this. I finally decide to purchase a comprehensive currency training class online for a few hundred bucks. After all, I tell myself you can make that up in one trade. I take the class and I realize that all the free education I received from the brokerage firms, while it was great, I only received the equivalent of a high school degree in Forex trading and the online course really increased the level of training and I equated it to a college degree in currency trading.
Again, back to the demo account and I know now that I am going to start winning this time for sure. Finally I am able to start making real money, but no now I am just breaking even. WHY, WHY, WHY? I remember something they mentioned in the class quite a few times, "Trading Signals." The first software I bought was programmed around trends, it other words which way has a currency been moving. After I bought the first software and started looking around for free educational information I noticed there was other software programmed specifically for trading signals. A software based on trading signal system sends you a notice instantly as soon as it is aware of what has been programmed into the software as its basis for signals has changed. By now, that is it; I am going to win at this I don't care what I have to do. There goes another $100 bucks when I buy a piece of software for trading signals.
William R. Alheim, Jr., CPA, MA - Visit http://www.tradingforexreviews.com/ to learn more about this Forex brokers, systems and courses. Good Luck! I look forward to seeing you on the trading floor making money! |
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