About Benny

My first whiff of the FOREX market dated back to 2002 when I was just 22 years old. At the time I was fresh out of high school and desperately seeking for a job. at the time a friend of mine was involve with this company that was dealing with the FOREX market and he encourage me to go for an interview. To make a long story short, I was eventually hired by the company as a sale representative.

I didn’t know anything about FOREX at the time. My job was simply to look for clients to invest with our company. We had a separate division in the office that consisted of a handful of traders that sits in front of a computer all day. Everyday I would see these traders staring endlessly at a black and white chart for hours on end. At first I didn’t pay too much attention to it, but as days goes by, I’ve become more and more intrigue. So one day I approach one of them and ask what he was doing. After a brief explanation, I was hook. I couldn’t believe that one could actually make money staring at a bunch of squiggly line all day. I knew I had to find out more. So the very next day I march into the manager office and requested that I be reassign to that division, and soon enough I got my wish.

I still remember the first time when I sat in front of a chart in my own little cubicle at the corner of the office. What was once I who observe these traders from the side line; I am now a part of. I was so excited by the opportunity and keen to learn everything that I can about the FOREX market. But what I didn’t realize is that although I am eager to learn, no one seems eager to teach me. Not because they’re selfish or anything, but simply because no one is convinced of their own knowledge to share them with me. A self supposedly professional trader was appointed by the company to show us the rope, but after a while we found out that he is no better than anyone of us. His only contribution is dishing out bad advice and making phony prophecy. He would try to prove his worth to us by conjuring up market prediction that’s hardly ever accurate. Ironically, we were actually more profitable taking the opposite direction of his forecast. When he finally realizes that we weren’t actually heeding his advice, he kept all the prediction to him self from then on. But we were better off anyway.

So there I was back to square one, back to where I started from the very beginning, and I still wasn’t making the kind of money that I thought I would. In fact I wasn’t making any money at all, I was actually losing money. I knew I had to do something before I wipe out every cent in my account, so I begin searching all over the internet looking for a reliable FOREX program that would solve my trading predicament. This was back in 2002, and there weren’t a lot of FOREX courses then as there do now. So finding one wasn’t going to be an easy task. However, I did manage to come across one on eBay which I thought might be worth looking into.

it was a book entitles” 5 MINUTE FOREX” and it was written by guy name Beau Diamond. The book cost USD$199.97, which I thought was kind of pricey. But I bought it nonetheless. I figure if it would help turn my pathetic trading around, what’s 200 buck anyways. 2 weeks later when I finally receive the book, I was utterly disappointed by what I see. It wasn’t really a book as describe by the author, but merely a cheap spiral bound manual printed on low quality papers. Not the best first impression. But I gave it the benefit of the doubt. After going through the whole manual, I was shock to learn that the actual system itself was only 7 pages, that’s 7 out of over 200 pages! The rest were nothing more than useless filler to bulk up the manual and jack up the price. But that’s not the worse of it. Turns out the author have misrepresented his product as being a “system”, when in fact it is a subscription to a daily trend line services that he provides at a separate cost. The 7 pages contain in the manual were not really a system, but rules & instruction on how to trade with the trend line that he provide. The “system” as he likes to refer it, is useless without the daily trend line signal subscription, and that cost an additional hundred buck a month. Had I known about this earlier, I probably wouldn’t have bought it.

Luckily, the author has the decency to give a 3 months free subscription as part of the purchase. So I figure what the heck, no harm giving this system a try, right? So I immediately open a separate live account with USD5, 000 specifically to trade this system. Now any experience traders would tell you that’s a big No, No. But I was desperate, and desperate men do desperate things. So I started trading the system.

I follow all the rules and instruction as outline in those 7 pages. And I plot and traded the daily trend line level everyday without fail. I wasn’t expecting to win them all, one or two good trades would be more than enough to convince me that I haven’t wasted 200 buck. But 2 weeks later guess what happen? I ignited the bomb that completely blew my account to kingdom come! That’s right my account was gone, finish, kaput, down the freaking drain pipe. And I’ve only taken 6 trades with it, all of which were huge loser. Now do you know of anyone who had lost that much money in such a short period of time? if you don’t, you do now.

The point of me sharing this story with you is to stress the importance of acquiring the right knowledge from the right source. The first 4 years of my trading career I’ve made a lot of bad decision which took a toll on me financially, decision which could easily be avoided had I received the appropriate education in the market early on. But since I never gotten one; I had to learn it the hard way, via the trenches of the unforgiving market. no matter who you are, if you don’t come prepare to handle the raft that it bring fourth, its going to make you pay dearly through the nose.

That is exactly what happens to yours truly. I knew I wasn’t equipped to tackle the market when I got in it the first place. But my mind was so clouded by financial gains that I totally ignore the fact and dive right in anyway, a decision which I would eventually come to regret.

6 years later, I finally achieve my objective of being a full time FOREX trader, but not before shelling out over $70,000 dollars along the way. It’s hard to believe that anyone who had loss hat kind of money would still be hanging around for so long. But as the old saying goes, what doesn’t kill you makes you stronger. And I believe that summarize my situation quite nicely.

Back to Top