The Accidental Forex Trader
I never planned to be a Forex trader. Not at all. I consider myself more as an accidental Forex trader.
I am an electronics engineer who happens to love programming, writing and web development. I got involved in online marketing and officially become an online entrepreneur after launching my stock market website.
I was investing in the stock market that time and I never expected that my stock market website will bring in residual income that I am enjoying up to this days.
I wanted to expand my online business to include other financial markets. The next logical thing and the next in the list is the big financial world of Forex.
The Business Plan
I created a 5 step business plan to serve as my guide.
- Beef up the theory. I will look for the best Forex sites and learn as much as I can about Forex.
- Find a successful Forex trader who can be a mentor.
- Apply what I learned and try it on demo trading.
- Open a small live account and get a first hand experience of trading real money on Forex
- Create a Forex website
Forex – Love at First Try
I never intended to be a Forex trader in the beginning. All I want is to get wet on Forex and create a money – making Forex website from it.
But looks like God has other plan. 🙂
Forex – My Unhealthy Obsession
I never imagined that learning Forex would become my unhealthy obsession.
I started learning about Forex from Babypips.com. I read Chris from FxKeys.com which was renamed to Luckscout.com later. I learned Price Action from Nial Fuller from LearntoTradetheMarket.com. I read Naked Forex by Peter Walters. I read the market wizards series. I followed the trend followers through TradingwithRayner. I even studied ElliottWave from ElliottWaveInternational.com
Wow! No one told me that learning Forex can be fun.
My kindle reader is full of Fx books. Here are some of the bests:
- I have all the books of Laurentiu Damir.
- High Probability Trading – Marcel Link
- Gambling Wizards
- Market Wizards Series
- All the books of Jim Brown
- Elliott Wave Books of Ramki Ramaakhrishnan
- Books from Fred McAllen
- Books from Steve Burns
- Books from Ed Seykota
- George Soros
Meeting My Forex Mentor
Books are great but nothing comes close to a talking to a profitable Forex mentor.
At first, I don’t know anyone in my circle who invests in Forex until I bumped with a great friend in my religious community who is an active professional Forex investor (investment banker). He taught me many things about Forex investing.
I have other mentors online but I have never have a chance to meet face to face. I owe them my success. Here is the long list:
- Joel Rensink
- Chris Portoff
- Nial Fuller
- Larry Williams
- Rayner Teo
- Walter Peters
- Kirill Eremenko from ForexBoat
- Alex du Plooy
- Lucas Liew from BlackAlgo
The Birth of Algorithmic Trader
Forex is one of the most difficult things I have ever done in my life.
I started out as a trend follower. Then I moved to mean reversal trading. Then I did Elliott Wave trading. I tried Fibonacci. I also did trendline break system. I tried price action and candlestick patterns.
I hopped from one trading system to another to find something that would fit with me like golden gloves.
Finally, I found the system that best fits me.
Algorithmic trading is perfect for me. I am good in programming. I am good in data analysis and statistics. And I was never a good discretionary trader.
Algorithmic trading forces me to model and quantify my trading system into ones and zeros. Becoming an algorithmic trader is the best thing that happens to me in Forex.
Right now, I enjoy creating my own trading system, programming my own forex expert advisors (EA) and using them to do the autotrading via my own VPS (virtual private server).
A Trader by Heart
It was through online marketing that I was introduced to Forex. I am forever grateful for this wonderful investing opportunity called Forex.
I already forgot about my initial plan to create a Forex website. After all, I am enjoying my time on Forex. I wanted to scrap the plan to create a website since I am earning from Forex more than what possibly my Forex website can give.
But I am reminded that most of my Forex knowledge come from Forex websites I have read. I need to pass it on. I need to pay it forward.
Fx Trader Journal is my way to share with you tips and tricks I wish someone has told me when I was starting in Forex.
I hope and pray that in one way or another I might be able to share with you knowledge that you can use to help you earn from Forex.
Fx trader journal is where I share what I learned in my own Forex journey from being a losing investor to becoming a consistently profitable investor.