Daily Forex #33 - The First 3 Months Of My Forex Journey

Yesterday I shared about how I accidentally stumbled on Forex and made a career out of it. Today I'll be sharing about my first 3 months of trading Forex. To read yesterday's article, you can go HERE.

After trying Forex trading for 1 week, I was sitting on a profit of $3,000, which was a 30% growth on my $10,000 account. I was pumped up and couldn't wait for the weekend to end. I had spent my first weekend reading up even more on Forex and found some really cool strategies! Monday couldn't come faster enough for me and I set my alarm to wake up at 7am.

I was alone in my hotel room in Bangkok and instead of calling clients on Monday morning, I had my laptop on and was looking at the Forex charts! I had read during the weekend that I should focus on only 1 currency pair and that was USDJPY. The strategy promised that I would make crazy money and all I had to do was look out for a specific pattern in the charts.

I spent the whole week just looking out for that specific chart pattern which happens around 2 to 3 times a day and was trading morning till night. Needless to say, I didn't meet a single client that week and when I had to report to our Bangkok office on Friday, I reported that I was sick the whole week and couldn't go out at all. Well, in truth, I really didn't step out of my hotel room at all the whole week. I was busy looking at the Forex charts! I didn't make as much money as the previous week, just shy of $2,000 but it was good enough for me.

I had made $5,000 in just 2 weeks and that was equivalent my monthly salary! All I had to do was look at the Forex charts instead of cold-calling and going out to meet clients. Forex trading was so much easier! But I knew this couldn't go on. If I spent the next week in my room and didn't go out to meet clients, the company will definitely haul me in for questioning. I had a job to do and that was to get more business for the company. I came up with a schedule. Since I could make cold calls and look at the charts at the same time, I could do both in the mornings and only meet clients in the afternoon.

My observations the past 2 weeks made me realise that USDJPY was very slow moving in the afternoon and there was rarely any trades then. It would start to get active again at night when the US Markets opened. So I came up with the schedule below :

7am : Wake up and look at the Forex charts

10am : Start cold calling potential clients

12noon : Break for lunch and prepare to go out

2pm : Meetings with clients the whole afternoon

7pm : Look for dinner

8pm : Look at Forex charts

12midnight : Sleep

I stuck to this schedule for the next 2 months and everything was going well. I was making about $8,000 a month from Forex trading and my job salary did suffer a little but I was still making about $4,000 a month. This means I was making about $12,000 a month! It was really good money and additionally I was in Bangkok, where the cost of living was cheaper than Singapore! Life was GREAT! It was AWESOME!

Tomorrow I will share with you what happened during my 3rd month of trading Forex. Stay tuned!

Hope you enjoy today's article and if you have any questions please feel free to ask in the comments below and I will definitely respond to you.

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Daily Forex is my way of sharing my personal thoughts on the Forex Industry with would-be traders as well as current traders.

I thank you in advance for following my daily blog post and of course an upvote would be a nice motivation for me. It will also be a sign that my content is relevant and have given you a bit of insight on what Forex Trading is all about.

Here are some interesting topics to start you off :

• Daily Forex #20 - Can You Really Make Money Trading Forex?
• Daily Forex #13 - Make Your First $100,000 Trading Forex
• Daily Forex #12 - Forex Is Not a Get-Rich-Quick Scheme
• Daily Forex #9 - 2 Main Reasons Traders Fail

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