Hugo’s Smooth Forex Approach

Forex trading, right! Wow, not sure where to begin so let me dive into it and see where it leads us. I’m Hugo from San Francisco and I am a forex trading enthusiast. I started in college as my room mate sort of got me hooked on it. We were both going to law school and he actually financed half his tuition through trading, the other half was split between his parents, a partial scholarship and a small loan he took. Actually he took a bigger loan than needed as he saw a chance to use the rest of it for trading. Just to be clear, he told me to never do the same and I can only agree. Taking a loan to trade is not smart, no matter how good of a trader you think you are.

So I did start in college and I am glad I did. The sooner you get started, the faster you get to the point where you earn more money trading every month than from your salary. I admit, I jumped the gun a bit. It does take time, but that’s why you should get started sooner rather than later so that you have time on your side. I am 44 years young now and have been trading forex half my life. Now that I write it out, I realize what an amazing journey I’ve had so far and I am definitely looking forward to the next 44 years as a forex trader! I studied to become a lawyer because I love the profession and despite my great success as a forex trader, I continue to practice law.

After graduation I had a career waiting for me at a nice law firm in San Francisco. My room mate, Alex, and I were both hired there so we decided to share an apartment in the city. Let me tell you it is hard to get started on your own in San Francisco, Silicon Valley has driven up prices everywhere. As we both started out as associates, we learned a lot quick and one of the lessons was that we wanted our names on the wall. After we worked together for three years we decided to start own law firm as there were things we wanted to change in the way lawyers operate. We understood from the start in order to accomplish this we needed to start our own firm.

As with many professions and new ventures, capital was the stumbling block. We needed quite a bit so we pooled together out forex accounts as a starting point. We both put together $50,000 which was largely money saved from our three years of working hard and living a frugal life. We both received a nice bonus check in our third year as we both worked for a large tech client. Sometimes you are at the right place at the right time. We needed a lot more capital to get our firm started, but as you can imagine the $100,000 was a great starting point.

We agreed to place 40% of our salary into our venture plus all bonus checks we may earn until we boost our balance to above $1,000,000 which was our next target. Of course we were trading the account and we split our roles into analysis which was where Alex thrived and account management which was my specialty. In the end we ran our own little forex trading floor from our small two bedroom apartment in San Francisco. Our colleagues didn’t understand why we didn’t enjoy our bonus checks or upgraded our apartment, but they had no clue that we were planning on starting our own law firm as soon as we have accumulated $10,000,000.

I understand that when you read this, it may sound very simple. To be honest, it was very simple. Please don’t confuse simple with easy, because our road was hard and very rocky. We had way too much stress and at some point we both experienced health related issues due to it. They were minor, but it is important to me to mention this. We both worked a demanding full-time job and while out salaries and bonuses were great, we didn’t use them as we saved up for our goal. We had a long-term plan and we stuck to it. As I said, I have been trading forex for 22 years now and overall it has been amazing as forex allowed me and my business partner to realize a dream without running to the bank.

One key aspect of our strategy was to not feel the pressure to trade. I always said that slow is smooth, and smooth is fast. We analyzed the weekly and daily charts as we both felt comfortable with the signals they provided. We placed our trades carefully and never chased profits. It was a very slow start and often we felt that the small profits were not worth the hard work required to realize them. It can get very frustrating, but we avoided a lot of mistakes without smooth forex approach and after a while the profits rose. At some point you will cross the line where your hard work pays of rather nice. Patience and discipline is key to success.

Seven years ago we reached our goal of $10,000,000 and we started out own law firm. While this meant no more salary and bonus payments, we had enough capital to give it a shot. We took our clients with us and while we had to dip into our forex portfolio to cover expenses, we are now well above that mark. We even hired two associates to oversee our forex operations as we are building out our law firm. It took time, dedication and plenty of work. We are very proud of our accomplishment and I want to thank PaxForex, our partner who enabled us to earn more money in the forex market due to great trading conditions. They have been there from day one when we ran a portfolio of a few hundred dollars and they are here with us now as our balance grew to tens of millions of dollars. Start soon, start now and have a dream to guide you. PaxForex is the perfect location to enter the forex market!