How to Retire in 12 Months Part 2! Introducing… John and the Trading Challenge
In December 2009 I set myself a 12 month personal challenge to create an income through blogging.
Blogging is my absolute passion and it has opened so many doors for me, including a complete lifestyle change, the opportunity to publish a book and the ability to travel long term.
But blogging is not for everyone.
There are plenty of different ways to create income online and so to keep things interesting I am very excited to bring you a brand new financial challenge.
We recently came across an opportunity to test out a foreign exchange trading (Forex) system developed by one of my mentors and good friends in Sydney.
The system seems pretty sound and people are having success with it but the proof is in the pudding, and so my awesome husband and partner-in-crime John has agreed to take on this trading challenge.
The challenge is: Use this system for Foreign Exchange Trading and get the confidence and skills to earn $1,000 a month within 12 months.
We have been warned that 90% of people who trade in foreign currencies lose their money, so John is banking on the usefulness of the system, rather than being able to learn how to be a successful trader from scratch.
I will be interviewing John on a regular basis so that you can follow his progress, learn from his mistakes and if he is successful, find out what the program is that he is using so that you can use it to create your own low maintenance income!
A bit about John:
John’s background is in bar/hotel management and playing semi-professional Gaelic football. Since leaving Australia he spends his time directing and filming mini documentaries and travel reviews, as well as managing his personal blog: Sober Paddy. He is passionate about playing poker and hopefully his understanding of probability will help with the foreign exchange markets.
So that is the challenge from now until 12th June 2013… please cross your fingers that he makes it!
Are there any Forex traders in this community?
Are you one of the 10% who actually make money?
11:13 am
Oooo I’m really interested to follow John’s journey Serena. Have heard so much about Forex over the years & this way I might actually learn a little bit about it!
2:22 am
Hey Rochelle, thanks for the comment! Yes I am interested in seeing how it pans out as well. I have always had an interest but not sure yet if it is my “thing”!
7:35 am
I hope you can learn from my successes and from my mistakes too Rochelle!
11:37 am
Same, it’s been something I’ve wanted to get into but not known where to start or who to trust as a mentor…look forward to the progress reports!
2:22 am
Hey Paula, yes I can’t wait to see how it turns out!
7:36 am
I have also always been interested but suffered from the same fear and this is a great way I think for everyone who follows Serena to get an honest appraisal of a potentially lucrative system
12:40 pm
I’ve been ‘dabbling’ in Forex for about 2 years now, but have never really seriously committed to it. I burnt through $1000 in the early days with false confidence, but have only ever played with paper money since then.
I wish I had the time to really commit to learning it properly, and being able to trade confidently – I know the rules, I just never seem to have the time to watch the charts at the right time!
EAs / robots are dangerous too… Never seen one that trades well consistently, without a significantly large bank to absorb the “hiccups”. So interested to hear how John goes with this one
2:24 am
Nice to see you here Chris! What is apparent already is the time issue. John is having to get up at very-early-o’clock to be there for the right trading times.
6:35 pm
It sounds interesting so I will be checking it out and keen to find out how John is going with it.
7:39 am
Hey Chris…
It is difficult to get the time to study the charts. I am getting up before 5am at the moment to try and get the good part of the London market!
The good thing about this system is that it alerts you when certain variables change which could potentially lead to a trade, so you don’t have to watch it all the time.
It is also not a robot as it just informs you of variables which you then make the decision to trade or not.
Will keep everyone posted.
12:42 pm
I’m keen to learn too. It would be nice to be in the minority
2:25 am
Haha yeah this minority group has no complaints!
7:40 am
I hope to have a sign soon saying I am one of the 1%!!
3:06 pm
I’ve been trading for 2 years and had my ups and downs. Blew out my first account completely in 6 months, which is very deflating when you lose ALL your money. But I didn’t give up and so far so good on the 2nd account. I’ve been trading my second account for about 18 months. The first year ended up at break even which was a massive improvement. The last 6 months my account is up around 20%, I think I’m getting better. For me the main thing is to find a system and stick to it. Always use a stop loss, accept your losses they are part of trading. I’ve read some traders only make money on 30% of their trades, but they still make a very good living because they cut the losers. Trading can be very stressfull, it amplifies your personality traits, both good and bad! Look forward to reading about Johns progress with great interest, all the best!
2:26 am
Thanks for the tips Jim! It is great that you stuck in there and started again. I hear a lot of people lose their money at some stage and I am sure many people quit then.
7:44 am
Hey Jim
Breaking even is pretty good and 20% prfoit is amazing. Keep it up. Maybe we should just follow your system. The one I am following is looking fro a 1-2% return per week which compnd onto your principal and can snowball after some time.
It is all about the system. Pick grade A trades and trust in your set of parameters and leave the rest to the market
4:47 pm
Great challenge – I’d be v keen to see how it rolls out
I’ve just finished reading Kim Kyos…. (don’t know how to spell her name!) of Rich Women fame – It’s Rising Time for Women and got me going thinknig HOW I could try stock / trading options as I know so little about it. Perfect timing 
Good luck John!
7:45 am
Thanks Zivana…I hope I can learn enough for everyone to feel comfortable with how the system and process works. If there is any information which I don’t give which you want to knwo please get in touch
2:15 pm
Go Serena and sober Paddy! Sounds like an excellent adventure!! I will watch with interest. I have known a couple of men that had a go at independent trading but unfortunately haven’t been able to make much of it. Looks tough so I wish you the very best with it. Great you have one another for support and encouragement. Best of luck
7:46 am
Thanks Katka..we will give it 100% and I hope maybe your friends might learn from how I am learning and turn their own attempts into more profitable ones.
12:19 pm
Forex is very interesting I have only paper traded forex, I still prefer stocks, they are still based in fundamental good business practice, and while fear and greed are still what make the markets tick. I find it easier mathematically to calculate volatility with stock. That is just me,I am also really keen to see the outcome of this challenge.
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