This blog has been a confessional journal of my efforts to overcome the obstacles on the path to consistent trading profits. It’s been a great journey and its still ongoing. I’ve learned a lot about the markets, the crowds and about myself. Today, I’m confident that I can earn an average of 5% per month on a consistent basis, with little effort. But the irony is that in the process of reaching this stage I’ve exhausted my funds! I have no serious money left. Ideally I should be managing at least a few $100k’s account at which level the trading profits become meaningful. I will have to raise that money from others. However, I can’t be bothered to try and convince someone to take a chance on me – I’ve not really made the effort to pitch my skills/experience to anyone. I don’t move in the same circles as millionaires or rich businessmen. Knowing how the human mind works, I know it would be a very long shot for anyone to trust me with their money. So I’m not going to bother with that.
I am confident of my ability to read the market and make consistent profits. Therefore, I have decided to trade my way up from a low 4 figure account and see how far I can take it. If I can sustain the work and the pressure long enough, my account should get into 6 figures eventually.
Along the way, to help me build up my account, I’ve decided to offer my trades as a trade-signal service via a closed twitter feed. I know – All signal providers are crooks. I say that myself! But there are no other options for one in my situation. Either make the rounds of potential investors and pitch my terrible track record to them hoping they’d let me manage half a million of their money (Ha! as if that’s likely), or let some interested traders try my service for a low fee each month. The monthly fee will be less than coffee money for most traders.
I’ve tried to be as fair and upfront with followers of my trade signals service as possible. Here are the key features of my service:
– Not aimed at novices, rather aimed at reasonably experienced traders.
– no extravagant promises. Markets are fickle, the world is full of uncertainty and risk. I let them see my downs as well as ups. I just hope my followers realise that the only result that matters is profit at the end of the month, or at worst, not a big loss.
– trade execution remains completely the subscriber’s responsibility.
– I will not make money off my subscriber’s trades, unlike many signal providers who make money via broker partners. I don’t care what broker or platform the subscriber uses.
– No useless commentary, only trades.
– You can stop your subscription at any time. No minimums, no lock-ins.
I plan to tweet my trades under the handle @zenfxtrades. For the first 3-6 months the tweets will be free and open to anyone interested. At some point I will stop the free tweets and ask followers to subscribe. Another twitter handle, @swingfxtrades, will re-tweet my trades with some delay (to show potential subscribers what they’re missing ).
A monthly performance log will be posted on the blog swingFXTrades.wordpress.com.