My Experience with the Forex Market by Olivia Rust

Posted by on Feb 7, 2014 in Featured, Learning to Trade?

My Experience with the Forex Market by Olivia Rust

The forex market is something that has always held my interest and, as the New Year came, I decided that I would actively try to gain more knowledge about the foreign exchange market.

My understanding of the industry has been very limited until recently. I attended a very interesting seminar with Mark Walas from Plan B Trading. I had done a lot of research about the industry via the internet and with every website informing me that they had the right strategy for me, being a complete novice, I can see how easy it would be to fall into these traps. I decided to attend a seminar to see how exactly the Forex market works and if it’s something that I would be able to succeed in.

In my mind I had already placed myself in the minority (I am a 22-year-old female) and I imagined that retired male professionals would predominantly surround me. How wrong was I? The course had attracted a range of delegates and there were an assortment of different ages, backgrounds and sexes. I was in a mixed bag of retired men looking to make extra money and learn new skills to younger women hoping to be able to provide the finances to see their children through a decent education. There were even two 19-year-old females who said they were there to learn a skill they can use throughout their lives.

There were also varieties of reasons as to why we had all gathered to learn more about the Forex market. A common theme amongst us was curiosity; we were all intrigued as to how Mark could help us and the methods he was willing to share with us. Other motives included delegates wanting to ‘learn to earn’, to make money consistently and to be able to change their lifestyles.

Some attendees (such as myself) had never traded before and others had traded previously but had not achieved their desired results and therefore wanted to accept the help offered.

I learnt that the factors that make a successful trader include:

– Disciplines and Rules
– Patience and Timing
– Psychology
– Risk Management
– Preparation

Each of these aspects were discussed at length within the two and a half hour seminar. It was a great introduction to trading and the foreign exchange market, the information that Mark provided was compelling and invaluable which is why I have signed up for Trading 101. Over $4 trillion is traded on the Forex market daily but I feel it’s important for me to fully understand many aspects of the market before I begin my journey as a trader.

If you’re also looking to try your hand at trading, get in touch with Plan B Trading here.

This blog was written by Olivia Rust.