I know that forex trading is dominated by make traders so you can imagine that it was a bit harder for me to get my business off the ground. Adding to the obstacles were my conservative family who wanted me to get married and become a housewife, growing up in Saudi Arabia and being Muslim living in Poland now. I am very untraditional across in all aspects of my life, but I believe this is one of my greatest strengths. I had way too many hurdles to clear, so I decided to clear them one at a time.
This has taught me a very valuable lesson for my forex trading venture. When there are a lot of moving parts which may create problems, focus on one and master it. Many look at the entire picture and then get overwhelmed by what needs to be accomplished. This often results in frustration and discouragement. I first needed to convince my father to be on my side and drop the marriage idea. It took me almost two years, but we managed to strike a deal which worked for both of us. It was a time limited deal so the pressure was on for me to deliver.
My parents truly love me and only want what’s best for me, but it sometimes requires hard work to show them that their agenda is pushing what they think is best for me and not what actually is. This has taught me another very valuable forex lesson; you need to be patient. Rushing any part of the process will only increase the risk of failure. Believe I understand the desire to succeed, but success can’t be rushed. It does require plenty of hard work, commitment and patience. Those who truly work hard will eventually be able to reap the rewards.
I have many friends and met even more acquaintances who love to share other people’s success stories. They only mention the parts after a person became successful and not the hard work that went into it. It is like seeing iceberg, you only see the tip of it but never what lies beneath. It is OK to get inspired by hard working people, but don’t forget to focus on your own success story. My parents always taught me that no matter what I end up doing, as long as it grows from a solid foundation of knowledge it will have a great chance at success.
Forex trading cannot result in a profitable outcome unless you have the proper knowledge. This is why I spend two years to educate myself on the topic before even opening a trading account. I was not able to do this full-time as I had a job which I enjoyed and a life to live. I spend an average of two hours on my forex education four times per week. The time it take to learn about forex differs from trader to trader, but many simply want to rush into trading as they see to chase quick profits and not sustainable profitability. I have learned that the latter is how money is earned as a trader.
Two of the biggest problems for new forex traders are lack of capital and lack of trading strategy. Insufficient trading funds is one reason why many get attracted to forex trading through ads promising big returns from small deposits. This creates a big issue as expectations from the start are already misplaced and new traders are geared for failure and therefore disappointment. Another important forex lessons is to be realistic with expectations. In my opinion it is almost impossible to earn $1,000 per month from a small deposit.
When it comes to strategy, forex traders have plenty of options. They can either do the hard work and create one on their own. This will take the longest time and the most amount of money, but may be the best long-term solution. PAMM accounts are another options where you let an account manager operate your trading account and you share profits. There are many signal providers which charge for their services and groups in social media where you can get them for free. Another option would be an EA which you can allow to operate your trading account, some are for free but the profitable ones usually cost money. PaxForex offers great trading signals for free to those who want to get started with an immediate impact on their profits.
That’s how I got started. I had a business plan for my forex business and my parents invested $10,000 into my idea with an agreement to add another $40,000 two years from the start if I show them that I can manage the account properly. I needed a rock solid forex broker and I feel truly blessed that a friend recommended PaxForex to me. They made me feel comfortable and right at home from my first contact. I opened a business account with them and deposited my first client’s capital. I started to use the trading recommendations posted on the PaxForex website and am very impressed by the results and so are my clients which at first consisted of friends and family. As the results were outstanding, word-of-mouth advertising took over and my circle continues to expand.
Take the first step today in building your own forex business by opening a PaxForex trading account. Remember to address one obstacle at a time and don’t overwhelm yourself with everything at once. Remain patient and don’t rush into anything, take your time and educate yourself on all aspects before engaging. Make sure to spend less time obsessing over how other claim to do what and focus on your own progress. Move at your speed and create a forex trading approach which works best for you. Be realistic which your expectations and don’t be afraid to accept help when needed. I can only recommend PaxForex and their free trading recommendations which I use myself to create annual returns over over 60% and as my deposits grow and I can increase the lost size I think I can crack a 100% return within the next two years. Thank you PaxForex, without your great service my forex business would not be possible.