Follow me in my forex trading adventures

Win or loose I have decided I must follow through and open a live forex-trading account and I’m pretty sure I’ll be going with FXCM albeit with some reservation; so for any of you out there trying to figure out if forex trading is worth it and if FXCM is a scam, I will be putting borrowed money on the line to find this out for myself. You can subscribe to my rss feed to keep up to date on my progress, or bookmark my site. I might even open a small account with OANDA at the same time. We’ll see; but I have decided it is important for me to see this through instead of letting fear be the deciding factor as I normally do. Yes, it will mean a strong possibility of losing $5000; and I can ill afford to lose $5000; but I borrowed the money from a friend for that purpose. They loaned it to me for that purpose and I must use it for that purpose come what may.

Yes, I am afraid. I am afraid that all the people who say FXCM and OANDA and all online forex brokers are scammers will turn out to be right. I am afraid that even if these brokers are legitimate, I will still lose the money I deposit by making bad trading decisions. I am afraid that I might make money only to have FXCM lock me out of my account and steal my money like some people have alleged the company has done to them. I am afraid that the platfrom will freeze while I have open trades and I won’t get to log back in before all my money has been wiped out because I will not have setup a stop loss order or else the system does not execute the stop loss order I setup on account of “market conditions” as explained in FXCM trader agreement: risk-reducing orders or strategies.

There are many more sound reasons not to go through with this than there are sound reasons to go through with it; but I will go through with it. I must go through with it. So hang around if you want to find out how things turn out. I will be documenting my experience for better or worse.

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