All Things Forex

Why Forex?

Why Forex?

What made me choose Forex trading to make a living out of all the things I could possibly have done? Especially given that Forex is HARD, and don’t let anybody tell you that it isn’t. In fact, my sister asked me the other day, what on earth made me pick Forex when something like 95% of the people who attempt Forex trading fail.

It’s my Passion!

Well, the main reason is – I absolutely love it! I’ve been fascinated with Forex since I worked for a grain merchant’s when I was in my twenties. They used to trade wheat and barley on the spot and futures markets. That fascination hasn’t waned in thirty years.

I have tried a raft of other things, such as affiliate marketing, but they didn’t really fire me up. And if I’m not passionate about what I’m doing, I just don’t stick with it.

Freedom

Forex trading gives me time freedom and location freedom. I can trade anywhere I can get an internet connection. I can trade on my phone or tablet. The markets are open from Sunday evening to Friday evening (UK time), with crypto currencies being available to trade over the weekend too now.

About 8 or 9 years ago my Dad had major heart surgery up in northern Portugal. My Mum went up there to be with him and it was a very worrying time. I’d been out of work for about 3 months, and was just a couple of weeks into a new contract when Dad got the surgery date. If it had only been a few weeks earlier I could have flown out to support Mum, but I just couldn’t take any time off so soon into a new contract.

It was soooo frustrating! As a contractor I was self-employed, but that didn’t mean I was in control. You’re always at the mercy of clients – you only work if they need people and, potentially, I could be working hundreds of miles away and have to stay away from home during the week.

If I’d been trading Forex back then I could have jumped on the next plane and given my parents the support they needed. I could have booked a hotel for us both really close to the hospital and made life just that bit easier for my Mum. Not to mention putting Dad’s mind at rest.

I could have taken a complete break from the trading while I was up there, or I could have just taken the Swipe (copy and paste) trades on my phone. My choice.

 

Why Forex beach cocktail photo

 

I’m in Control

What else?

Oh yes, gone are the days of having to get up at 5:00, making sure I’d left the house by 6:00 so I didn’t get grid-locked in traffic, and commuting for an hour to work that didn’t fulfil me. Coming home was worse. Quite often a journey that should take just over an hour would take maybe two and a half hours because of roadworks or accidents.

I recently got up around 5:30 as a power cut had woken me up (I could hear the printer in the office whirring and clunking as the power kicked back in). I looked out of the window into the pitch black and thought, I used to be up at this time to go to work. There’s no way I could face that again. I can get up when I like, stroll into my office, and trade in my pyjamas if I want to. No more commuting in the dark and wet.

I like that my money is under my control all of the time. I’ve been in a number of Internet programs (most of which turned out to be scams) over the years where your money is tied up in somebody else’s bank. You might be making money in the program, but it’s a whole other ball game trying to get your money out. With trading my money is in my brokerage account and nobody else has access to it. This is why Forex is so attractive.

I’m Learning an Amazing Life Skill

Another thing I love is that I’m learning a skill. An amazing skill that not many people master. I know it’s going to be a long and rocky road to success but … when I have mastered it … OMG, it’s a licence to print money.

It might take me 6 months, or even a year, before I’m consistently profitable. But once I’m there, the sky is the limit. There are people in my group who, with the help of a detailed spreadsheet, are on a 6-year plan to become liquid millionaires. This is not pie in the sky. This is absolutely achievable with hard work, dedication, and self-belief. There are no guarantees, of course, and not everybody will manage the psychological mastery that is so essential to successful trading.

Who Needs a Pension?

Do you have a good pension? Are you confident you can retire and still have a decent quality of life without having to pare back all the fun stuff?

I certainly don’t. I have a pitiful pension from the 7 years I spent at Rolls-Royce. When I started contracting one of the first things I did was set up an executive pension plan and I paid a goodly wodge into it every month. When I had my first long period ‘between contracts’, though – about 15 years ago now – I cut back my contributions to the bare minimum and never raised them back again.

So, I have nowhere near enough to live off when ‘retirement’ day comes. Fortunately, with Forex I don’t have to worry about that any more. I can simply keep trading, or I can invest some of my earnings every month in some sort of financial vehicle that will pay a monthly income.

If you’ve read The Millionaire Fastlane by MJ deMarco, which I highly recommend, by the way, you’ll know that lending money (which is essentially what you’re doing) is the most Fastlane thing you can do.

So, Let’s Recap …

Ok, let’s summarise. Here’s why I chose to trade Forex.

  • I’m passionate about it!
  • Time freedom
  • Location freedom
  • No commuting
  • I’m in control of my life
  • I’m in control of my money
  • I’m learning a skill that nobody can take away
  • Potential for massive earnings
  • No need to worry whether my pension will be enough to live on

Is this something that might interest you? If you want to chat about it, drop me a line via the Contact page.

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