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How I became a forex trader

If you read the ‘About Beebeard’ section on this website, you will know that I am retired, so I have all the time in the world at my disposal and some money stashed away for a rainy day.

Now, I have to admit that when it comes to financial matters, I am a rather conservative guy. Most of my pension money has been invested in real estate, which always used to offer sterling returns in the long run. Unfortunately, during the last couple of years the real estate world has been turned upside down and I had no option but to start looking at alternative investments if I planned to live to be a 100 and still be able to eat, drink and have a roof over my head.

That is how I ended up at I was doing a web search for alternative investment opportunities when I found the site. Initially I was very sceptical, but once I started digging deeper I realised that there was indeed an opportunity hidden here.

I started off by trading the Australian Dollar against the US Dollar. My decision was based on the fact that the Aussie Dollar had appreciated dramatically against the US Dollar over the past ten years and it doesn’t take a rocket scientist to predict that this process is likely to continue over the next couple of years.

Of course, there are many short term fluctuations in currency exchange rates and I am still struggling to get to grips with that fact. Sometimes I set my stop losses too wide and sometimes I set them too narrow. Getting it just right is rather tricky, but I am learning more every day and I’m sure that eventually I will become a really successful forex trader.

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