Within this blog we will be writing post and giving you information that you will ever need to succeed. Whether you are currently trading Forex, you want to begin trading Forex, or neither. What ever you current situation, if you take the time to read our posts, we can change your life in one way or another for the better. You may have read that and may have thought that I am quite arrogant, so I am going to tell you a bit more about myself to tell you I have a reason to make that claim.
I am James Fraser, currently 20 years of age. I work from home at my computer for, on average, 5 hours a week...Imagine. I started University studying Travel and Tourism Management on 12th September 2012 and dropped out 3 days later due to lack of interest. On the third day the lecturer told everybody that this wasn't the business to be in if you want lots of money, I closed my books, stood up and walked out because making 'lots of money' is all I wanted to do. From then on I was searching for something and found out that I could make money sitting at home with and cup of tea reading some charts. I studied for months and months until I was ready to open up a live trading account, and I have never looked back since. Foreign Exchange is my 'holy grail', it allows me to make insane returns with little to no work. I work 2 hours a day, this means I can literally do whatever the hell I want, within the law, with the rest of the day. Surfing, flying, driving, photography, health and fitness to name a few hobbies I wish to take part in in my spare time...which is most of the time. Within the next few months I intend to purchase my dream car.
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| Jaguar F-Type V8 |
It's not all about the money. It's the money/time ratio which one has to focus on. On average I make 5% a month on my trading account, you'd struggle to get that in a bank for a whole year! For example, if you had a trading account of £50,000, you'd be able to return £2,500 a month. Now, working 1 hours a day, 5 days a week, 20 hours a month you'd be on £125 an hour. (Remember that this is average, some months you can be up 15% +£7,500 or down 5% -£2,500 due to market runs and down draws). To support this statement I am going to give you a example.
Mr. Banker is paid a salary of £75,000 a year and works 40 hours a week. This works out to be about £156 an hour. He is so exhausted from his 8 hour days at work that he can't do any of the things he enjoys doing.
Mr. Forex pays himself £30,000 a year and works 5 hours a week. This works out to be £125 an hour. He doesn't have anybody to answer to at work, he works small hours and he can do whatever he wants with his day.
Now you tell me who is the most wealthy!
What have we learned from this? Money doesn't equal wealth, time equals wealth.
Although the banker is on more money, the currency trader has more time do the things he loves.
In the lessons to follow I will be elaborating hugely on all aspects of trading, from strategies to mindset and psychology.
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