About four years ago when my husband started his journey to learn everything there is to know about currency trading, I became his sponge. For four years, I listened, conversed (not really I just listened coz everything makes no sense to me), dialogued, absorbed (not really coz again it makes no sense to me), try to understand, listened some more, view, read what he wants me to read, discuss his plans, etc… Yes I am like a sponge trying to absorb everything that he has been studying by himself for four years. I did it not just because most of our families and friends does not really believe that he will make millions of dollars one day, but just because the studying part can be boring to someone who just do not understand what he could achieve here! Yes we mention we can be millionaires doing this but no one really wants to believe it until they see us fanning a million dollar worth of dollar bills in front of our pretty faces. But I believe. So I became his Spongebob.
Well you see, I have been trying to learn this trade that he is trying to specialize in without really paying much attention to it. All I know is it involves money, trading one item for another (in this case trading money) and it involves Math and Statistics and I am very good at both. For the four years he went through probably about 200 books (each are probably like 500 to 2000 pages each), listened to like a thousand podcasts / audio books, watch hundreds of videos, spent hundreds of hours meditating, getting focused and just pouring his heart out. I have never seen anyone (not even geeky school-lover, bookworm me) really worked this hard in order to achieve something.
It took him four years and I saw the fruit of his labors. We may not have real money in the line because we lost alot during the course of his study (we are working on it) but his progress is just amazing! Check out how he turned a $50K to $70K in less than 6 months (trading an average of 10 hours a week and placing small positions ONLY!) – check here!
January 2011 we pulled out a couple thousand dollars from our trading account just because we have some pressing financial needs so we are back to square one. Ryan did not stop and continued to work perfecting his strategy on a demo account. We found out February this year that we are pregnant and for some reason having that bun in the oven motivated me to finally learn the technical side of what he has been trying to talk to me about for the last four years. Two years ago he attempted to teach me and he bombarded me with tons of reading materials and I just gave up. I did help set up JoaquinFX Trading with me being in the business set up side. This time around at the onset of this year, we set an 8-week schedule for me to learn forex trading (yes for real haha). I started reading and having one on one sessions with him and taking written exams and trading exercises, just a little after our 2nd wedding anniversary, February 10th. His strategy this time in teaching me – CONCENTRATE ON TECHNICAL ANALYSIS. And that’s what we did. All he taught me is how to read trend lines, analyze and decide wether to go LONG or SHORT based on the trend lines. that’s it! I remember the first thing he told me NOT TO DO is to start listening to the news. It took me less than 8 weeks actually because I remember opening my very first demo account with FXCM March 2nd (I have to dig through my email haha) and placed my very first trade on March 17 with the British Pound & US$! Believe it or not, I was profitable by 70 pips / $140! I thought it was beginner’s luck but hell, I have proof of my trade and I followed all the rules.
In less than 8 weeks, I was trading on my own. I probably placed about 2-3 dozen trades total from March 17th to about mid May (just before I gave birth to our son Apollo). I wish my demo account was not deactivated so I can pull up my account but I grew my account from $50,000 to $54,000 in a matter of less than 2 months. Boy I wish it was real money but the important thing is I know how to make money now, thanks to my husband!
- Always Follow your rules (no matter what!)
- Add only to WINNING positions (simplest way to put this is why keep on driving and hitting the tree if you know there’s a tree in front of you!)
- Do not be greedy. It’s better to take small positive skips, than big greedy leaps that could trip you over in the end. You will not be a millionaire overnight
- Trade with an open fresh relaxed mind and do not let emotions rule your decisions
My last trade was just before I went in the hospital mid May to give birth to our little bundle. And now that I am adjusted to motherhood, I opened another FXCM account (a live one this time yay!) and a demo account too and believe it or not, it is still there!
What is the difference between me and my husband and why we make a good team? I am an obsessive compulsive organized person who love project management and business implementation and a total geek with numbers, analysis and statistics . I do have a creative side and likes to design logos, set up websites, write up a good business plan and generate reports and analysis. Yes I am the robot. That made me understand the needs of JoaquinFX trading as a business and am able to contribute. Ryan, on the other hand, has the passion, the drive, the motivation and the knowledge and inept skills to really place the right trades at the right place and the right time. And it’s not just because he knows but he loves to do it. Even a $2 profit from a single trade gives him a total high and it motivates him even more.
What better teacher can you ask for than someone who just loves what they do and willing to share that same passion. Even to a robot like me =)
–– Chrissie Herron
wife & business partner to JoaquinFX Trading