So what gives?

Alright, so now I've started a blog that I swear to myself that I am going to do something, but strangely enough, I keep bogging down. The least I could be doing is giving periodic updates, but I'm not even doing that. Truth is that I can't really get excited about finding a team and doing real estate investing full time. The only thing I can think of that I particularly enjoyed over the past eight-and-a-half years is trading. That is, besides playing music. I don't mind the sound gigs, but they aren't that much fun. I don't know why trading is fun for me. If I leave out the fact that I generally lost money when I did it, it was great. I just got an idea that if I did learn to trade on a consistent basis (meaning I actually did make money semi-consistently) that I could teach others how and do well with that. I know there are a bunch of people out there that would love to work from home and not have to sell anything, or even talk to anyone, and still make money! Sounds like one of those shady ads you see on the internet.

Now, this may sound like I am copping out on my initial plan, but keep in mind that my plan was to create a source of income. Yeah, I know I said I wanted to make money while I sleep, and I don't know of a way to do that trading. Now that I think about it, if you made money while you sleep, what would you do the rest of the time? You can't spend your whole life on vacation! Well, I guess you could try it, but I would guess after awhile, no matter how great the vacations were, it would start to get boring.

What if I did something that, even though it wasn't necessarily perpetual income, I loved doing the thing that created it, that should be ok, right? Especially if we're only talking an hour a day, and that hour generally would be when everyone else is sleeping.

I've found a way of trading the Forex markets that is not a 'black box' system (that, supposedly, you can turn it on and it will crank out money on it's own. Ha ha - I'm sure that works.) This is a little system that this guy who, after 20-some-odd years doing it, decided to put out on the internet. Now, I hear you saying, "Oh, God, Mike, are you out of your mind? Those things are a dime a dozen - and they're all scams." I have to tell you. The same thought occurred to me. Then I started looking at it. The primary features of this thing mirror, in a very simple way, a bunch of fundamentals about trading I have read in many books. They just never had a set-up for it that seemed simple enough to do without reading every single book on trading that's out there. So, I looked into it, and found that Forex has a lot of features that, if you do things according to a few very consistent patterns, make it fairly easy to make money (over time, of course). All we are looking at is being able to get 10% a month out of your account, and within 6 years, even if you start with a measly $500, you have an account over $1,000,000! Go ahead, set up a spreadsheet, and do a monthly table, and have the total increase by 10% every month, and see what happens.

Now I'm not, at this point, going to go into the details of this trading method, because I'm still testing it, and everybody knows that there are a ton of things that can go wrong with the best thought out plans, and this one isn't all that well thought out. I just see some great possibilities here, and I am inspired to actually do it, unlike some of the other things I've attempted in the past, as you know. I know things will start out slow, since I will be starting with a $500 account, and I'm sure most of you realize that 10% of $500 is only $50. But, as you can see on your spreadsheet, if you did it, you give that just a few years of compounding, some pretty big things happen.

It's going to take me a couple months to get $400 or $500 in my account, but in the mean time I plan on trading it with a practice account so I am really familiar with how it works by the time I start with real money. The tools supplied in the account are free, and there is no monthly outgo while I'm practicing.

Incidentally, I've found out that you can only go down to a certain point and risk as little as the guy on this system suggests. I'd have to start out with $1000 to do that, so I'll be risking a bit more when I start out. If this thing works like it should, though, my account will be growing at an average of $100 a month instead of $50. I plan on keeping it there until I reach $2000. If I survive the area between $500 and $1000, I'll be going using the safety parameters suggested by the author. I figure that should take 5 months or less.

I'll keep you all updated - so far I've made 4 practice trades. The first one I overslept, but was a winner if I would have been there to get my trade in, and 1 out of the next three were winners. Basically, I could have the next three go bad and still be even (which could happen :)