Ciao everyone, I’m Alessandro from Montegiardino in San Marino. As you can probably imagine, it is a very tiny community. We have less than 1,000 people living here, but it is more about quality. You may remember the Eurovision Song Contest of 2015, our singer Anita Simoncini is from Montegiardino. It is also home to San Marino’s only university where I studied Engineering Management. Montegiardino was the last commune which joined San Marino in 1463 which ended the territorial expansion of my country. As you can see, despite out tiny size of less than 1,000 people living in roughly three square kilometers, we have quite a story to tell.
This brings me to my story which I am eager to share with you as it may inspire a few people to defy the odds and embark on a journey which could change their life. While I like to travel, I prefer to come home and despite, or maybe because, of the size of Montegiardino and San Marino in general I cannot see myself living anywhere else. What drives many away from San Marino is work and we have over 12,000 Sammarinese living abroad. I myself worked in Imola, Italy for five years after graduation. While I enjoyed my work, I always wanted to return home to Montegiardino and start my own business from there.
In order to do so I needed something which didn’t depend on the local economy, something I can operate from my home office on a global scale. One of the most important things is to find something you can be passionate about and after I returned back home, more by accident rather than an active search, my path crossed the forex market. I was exchanging ideas on a forum about sustainable business ideas and one of the members suggested forex trading as a source of income. The idea was dismissed quickly by other members, but I reached out to the one who suggested it. He was not a forex trader himself, but wanted to explore it.
Over the next six months I spend my free time educating myself about what the requirements are for success. I took the same approach as I managing an engineering project. Different tasks need to be handled at a certain time by a different skill set. Since it is rather rare to find one person with all of them, I decided to make a list of what I needed in order to engineer my forex solution to profitable performance with a sustainable outcome. I set out to partner with other forex traders who had one key piece and offered them to work together. This way we can fully diversify our approach and independently confirm trading signals.
First I wanted to find one who was great at analyzing long-term fundamental trends. I like to trade with the trend, but one also needs to know when a trend is signaling a change. After two week’s I partnered with one fundamental analyst who wrote weekly reports for different outlets. I mostly agreed with his assessment and he was happy to partner with others in order to build a solid forex portfolio. Fundamentals give you the direction, but for entry levels you need to rely on technical analysis. I complied the fundamental reports my trading partner started to create daily, but we struggled to find the right technical trading set-up.
After about four months we found the right technical trader which I crossed paths with at an affiliate conference in Portugal. I explained to him how I planned to engineer a profitable forex portfolio and he welcomed the challenge. We organized a Telegram conference call, made the introductions and briefly described what each of us has to offer. This was the official start of our partnership. My task was fund management and all we needed now is to get another person on board in order to oversee risk management. Segregation of task is one of the most underrated aspects for success when it comes to forex trading.
We finally had our four-member team in place as we added our risk manager three weeks after our first Telegram conference. She had experience working for an insurance company in the risk management department and was looking for ways to diversify here knowledge. I found her on LinkedIn, messaged her and she open to join a group conference to find out more. I can now speak from experience, as we have manager our accounts together for three years, that the most important part of your forex strategy should be to have trading partners.
I have met too many forex traders who insist in trading alone from their living room, this will almost never lead to a profit. There is a reason financial firms have big teams in place to manage forex portfolios. Learning how to trade will take years, it is smarter to partner with the right people and work together. Nothing can be build, on your own and if you want to trade forex successfully then start looking for the right people and not the right trading strategy. This will turn you into a profitable forex trader faster than trying to manage the forex market solo.
At first we all met twice per week on Telegram, set out our strategy and all traded our own accounts. Last year we took the next step, registered a firm together and pooled our resources into one corporate account which we now operate at PaxForex. We now plan to start a PAMM service in order to expand on our knowledge as a profitable forex team and also started to lay the groundwork for our cryptocurrency portfolio which we will manage independently from our forex portfolio. I am very proud of our accomplishments and could not be happier to manage our expanding network right here from home in Montegiardino. Don’t waste your time and start looking for your own forex trading partners!