Where Did I Begin?

Well after a great weekend of 24 hr karting, it was back to business today. I thought I’d get this blog underway with a brief description of what strategies I use to try and make a living from trading.

My Father came across a website that gave independent reviews of various paid services such as horse racing systems, football bets, spread betting, practically everything to do with gambling. One particular method caught his eye and from there I decided to do further research and thus began my journey into the Forex world. The software is called TUFXP (The Ultimate Forex Predictor) and the gentleman on the site had been detailing all of his trades since trying the software on a 30 day money back trial. The website selling the software gives the usual sales pitch of it being a glorious, never seen before, simple point and click method to make very attractive money. It’s very easy to be sucked into well pitched sales blurb and it makes for impressive reading but you should never take anything at face value especially when someone is trying to sell you something for a large amount of money. 

 

I did some serious googling and reading and quickly found out that it wasn’t as clear cut as ‘point and shoot’. However, it was clear that the method detailed on the independent site held some promise. As it was this method that attracted me in the first place I decided to take the plunge and take the 30 day money back trial. TUFXP is published by Canonbury who after a little research are a trusted company and do honour their guarantees so I felt it was worth the purchase.

 

I’m not going to go into too much further detail about TUFXP as I’m certainly not trying to sell the software to anyone and do not want to this to seem as  just another sales pitch. However, through a lot of hardwork and research and discipline I have managed to make TUFXP work for me and it forms the backbone of my trading portfolio.

I decided a couple of months after purchasing TUFXP that it would be smart to try and learn other strategies away from the software. As I was a complete beginner I was a little unsure of how I’d be able to do this but a few clicks sent me to babypips. This is a fantastic place to start for any Forex beginner and gave me a good starting point. I also found forexfactory which has to be the most active forum I’ve ever come across. It contains literally thousands of ideas and is full of useful tips and knowledge.

To cut a long story short, I now trade major news releases and a simple MA crossover strategy which I’ve made my own with  some help from forexfactory. I’m also working on something which I’ve created from scratch and so far in demo live testing, it’s proving a revelation. 

So, there you have it, a little insight into what I’ll be discussing here and how I try and make this tough game pay. Forex is vastly more complex and deeper than horse racing and you could spend weeks and weeks reading the thousands of posts all over the net about Forex so it makes picking a strategy very tough and it can easily become over bearing when you read people’s posts claiming to make 1000’s of pips a month. My advice would be to take your time and make sure you research and really study anything you’re thinking of trading. Go that extra mile and eventually the work will pay off.

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    • Austin
    • October 26th, 2009

    DT, great idea to blog your successes, experiments etc in order to let others know what you are doing and to keep a log of what you are doing
    Glad to hear that the karting was fun – hope it was washed down with copious amounts of alcohol

    Catch up soon at FXTT

    Austin

    • Hi Austin,

      Thanks for my first comment! Woo!

      Hope things are well with you, hope to see you on FXTT soon.

    • Strongbow
    • October 28th, 2009

    Great start Dubai. Looking forward to future episodes (and to the results of your new trading strategy). See you later on FXTT.

    Max

    • pipsqueek
    • October 28th, 2009

    Anybody would think you’ve been trading 20 odd years with your valuable contribution to FXTT. Please keep up the good work, your effort and commitment is truly appreciated.

    Dean

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