In 2005 the word "forex" didn't really mean anything to me. I had no reason to know that it stood for "foreign exchange". I was living and working as a web designer in California and I wanted to be even more of my own boss and not have to answer to clients. I didn't know then that the next many years of my life were going to be in search of the elusive "Holy Grail Strategy" that would fulfill my dreams of becoming a well-funded philanthropist.
My older brother had recently called me and told me about an investment he had been in for the last year. Of course he had already told two of my other brothers about it months earlier and they had all jumped all over it. When he finally got around to telling me about it, he had already made lots of money from it and was sure that it was a legit business. My brother travels to Costa Rica a lot and had met someone there who knew someone who was a forex trader. This trader whom we'll call JR, lived in Arkansas and was making over 10-20% a month exclusively trading forex.
I told that to my partner and she asked me to call my brother back because clearly he must have said 10% a year. When I called to verify this, he assured me that it was indeed 10-20% a month and that JR was legitimate because he and my brothers and another investor had personally flown to Arkansas and stayed up two nights in a row to watch this guy actually place trades on his three monitors! My brother didn't know anything about trading but the guy was managing over $2 million dollars at that time and they said that they saw the candles forming on the screens and they personally witnessed watching him place trades.
My brother felt in his gut that it was for real. And after all, every month my brother was pulling out some big profits to finance a building project he had. JR's arrangement was that he would keep 50% of what he made for his clients, so my brothers were making and banking at least 5% a month, or else choosing to leave it in to compound and make them even more. To be continued...
Here are direct links to the other four parts of this series:
Confessions and Revelations of a Forex Trader – Part 2 of 5
Confessions and Revelations of a Forex Trader – Part 3 of 5
Confessions and Revelations of a Forex Trader – Part 4 of 5
Confessions and Revelations of a Forex Trader – Part 5 of 5