Magdalena Speaks About Her Forex Experience

I started learning about Forex last October and was totally amazed for two reasons:

1. The whole concept of trading FX seemed so perfect and natural that
   I felt like I discovered the best way to make a living there is.
2. My master thesis was on hedging foreign currency transactions in
   international trade yet it has not occurred to me until then you can
   actually make money yourself trading forex.
   

I blame it on the fact that
I got my master's in Poland and my home town university's curriculum
missed a lot of practical and useful information, since I refuse to
admit that it's probably me being a dummy and it never dawned on me
before.
  After an initial immersion into the market I opened my first demo and
doubled it within a month without much effort and occasionally missing
trading days. I didn't have any strategy whatsoever, I went with my gut
feeling and basically after a while, my way to trade would be to open
(I only traded EUR/USD) 2 positions on the same currency just in
different directions waiting for each position to make a 10 pip profit.
I didn't use any stops based on an assumption that what goes up must
come down and vice versa – pretty naive thinking for someone who has
degree in finance. It worked beautifully for a while though. Then came
December and a couple of big loses that I had to take which pretty much
ate all my profits from previous month. This is when I decided to
actually learn something and went on a crazy search for a Holy Grail. I
guess we all do that at some point Hundreds of websites, offers and
promises. The only reason why I didn't buy any system or program is
because
 simply couldn't afford it. But I kept on looking and got every book
from the local library that something to do with trading. And after a
while I got to a point where I didn't know anymore what works what
doesn't and worst of all I stopped trusting my own judgment. I was
dazed and confused.
  Then I bought Raghee's book and all of the sudden realized that there
is no perfect system. That you can chose basically any strategy and if
you have the discipline (the hardest part of it all !!!) to stick with
it, you will become successful. So this is where I am at now… Trying
to train my eye to see set ups as described in the book and get my
personal feel for the market. So far I have found that I get some
pretty good trading ideas, however my execution sometimes is not up to
par.
  I could ramble on about my trading experiences for hours since no on
around me shares the interest…Right now I trade a small mini account
just to get the feeling of the real account and hope that within next
few month I will have enough to open standard account and will be
consistently making profit.
   
 

Talk to you soon,
   
Magdalena