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A different perspective

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  • A different perspective

    Hi all,
    I vacillated about starting this. On one hand, it seems a bit narcissistic, which isn't me at all. On the other hand, no one has to read it, but for those so inclined, my situation is in many ways as different as could be from Adams', and perhaps gives a different take on the significance that Forex can have in someone's life.
    I just turned 61--today (Monday, still, here in US). I live in rural Pennsylvania, about an hour's drive from Philadelphia, with my wife of 37 years, in a house too big for us, as our three daughters are grown. The youngest, who's 26, is about to move back in on an interim basis, as she just finished grad school and her heavy loan debt is about to kick in.
    Till about a year ago, we had a stable, boring middle-class existence. I worked as a printer/tooling manager for a global label-printing company. My wife was semi-retired; she'd gone on government disability about 5 years ago, when her bipolar disorder made it impossible to continue her insurance career. She had a part-time secretarial job, two small pensions, and her monthly disability check.
    Then my employer decided that our small operation, one of about 60 locations they have around the globe, though it was being run efficiently, could be done cheaper further south, and notified us we'd be done by the end of the year. That turned out to be Dec. 15 (Merry Christmas, right?).
    Then, near the end of November, just weeks before my job ended, my wife had a stroke. Thankfully no cognitive damage, but her speech was somewhat impaired, and her right side was paralyzed (she's right-handed). After two weeks in the hospital, and six weeks in a rehab hospital, she was discharged to home.
    Though the job loss sucked, the timing of it was actually sort of fortuitous, as it gave me the time to take care of things around the house in her absence, and then to care for her when she came home. She was pretty helpless at first, and needed to be driven everywhere, doctor's appointments, outpatient rehab two or three times a week, etc. She's much more capable now--she can walk, slowly and with effort, with a cane and a brace on her leg, but still has no use of her right hand. She still can't drive, and still needs assistance with some routine things.
    Financially, her income was not interrupted. Her pensions and gov't disability were unaffected, and her part-time employer (a church), continued her pay in her absence. She's now back there two half-days a week (half what she'd done before), typing and filing left-handed. They've been quite patient. I have to drive her there too.
    As for me, I continued to draw pay through mid-March, under my severance package. Not super-generous, I'd worked there 30 years, but oh well. After that, a small gov't unemployment check till the end of September. I also have a decent amount in a retirement savings acct. (it's called a 401(k), for you non-US readers) and some other savings, so we were not going to be homeless anytime soon. Nevertheless, if we were going to maintain anything resembling our previous standard of living, I was going to need an income, or start drawing down the retirement money, which made me nervous, at this early stage.
    Please don't get me wrong. I understand that we could dramatically reduce our standard of living and still have it better than much (most) of the world. Just not what I'd hoped for at this point in my life.
    Two problems were facing me. One, as you may know, the job market in the US is not the greatest right now, especially in the manufacturing sector, especially for workers like me with rather specialized skills, and especially for workers "of a certain age." (And sure enough, my initial job-search efforts bore no fruit.) Two, going back to work full-time anywhere outside the home while handling greatly increased household and caregiving responsibilities was going to be a real challenge.
    So I started looking around for more workable ways of augmenting our income.
    Eventually, I found Forex, and more specifically, this site. How I got here will be the subject of my next post, as it is late here and I'm tired.
    Thanks for reading.
    By the way, I'm Tom, and my wife is Donna.

  • #2
    Hi Tom,

    Thank you for the post and details about your unfortunate situation.

    I look forward to your next post and seeing how you're hoping we'll be able to help you generate some additional income and improve your quality of life.
    Would you like free lifetime access to our forex trading room?

    Open an account at Blueberry Markets and save the $97/monthly fee.

    Click here to find out more.

    Comment


    • #3
      hope its not to long away Tom your next update

      Comment


      • #4
        Hi,

        sorry for your situation but please keep in mind that forex trading could make your situation worse than it is right now. There is usually a disclaimer on every forex related site stating "Only trade with money that you are prepared to lose". There is a reason for this. Forex is very risky and not suitable for everyone!

        GL

        Comment


        • #5
          Hey all,
          The evening hours are my best time for writing (and studying Forex, for that matter), after everyone's needs are attended to. I don't know if I'll get my next post done tonight, as I didn't sleep much, for various reasons, but I'll try. But I wanted to take a moment to say thanks for the responses. I appreciate the expressions of sympathy, but found them a bit disconcerting. So I re-read my post and think maybe I came off a bit more morose than I intended. I have it good, actually, better than many people I know. My life's been mostly free of major tragedy or struggle. True, a few obstacles have have been thrown up lately, but I haven't been left without the ability to overcome them. My hope and intention is that this thread will be a tale of how I did overcome them, not one of a desperate reach for a life preserver as I go under. But thanks anyway.
          And to forexgeek: I appreciate your concern, and hope to allay it in the coming posts. I really do feel I'm going into this eyes open. I don't see this as a get-rich-quick scheme. Get rich, maybe, but no need to rush it. As I hope to show, my approach has been, and will be, slow and cautious. That doesn't remove the risk, of course, but I think it goes a long way toward managing it. But thanks anyway.
          On a side note, I closed my first trade this morning. My copier is still not up (I'll get into that later too), so I'm not following any signals yet, but I entered a few orders before bed last night based on harsha's signals. One triggered (GBPUSD) overnight, and I closed this morning in profit. $66.00, it was only a 0.1 lot trade, but still, a win's a win. Feels good.

          Good luck to all today, and thanks again.

          Comment


          • #6
            Mr.Finn

            I am really happy that u made profits.
            Dont worry, Be Happy,
            Always Think Positive, Believe in GOD

            Thanks
            Harsha
            http://www.myfxbook.com/members/smartpipsindia/smart-pamm/2209194
            www.smartpipsindia.com

            Comment


            • #7
              Nice to see someone else trying to improve their quality of life with a forex copier. You can call me Philip or Phil btw... Adams (my last name) is a little too formal for someone of my age.

              Anyway looking forward to seeing your progress.

              Comment


              • #8
                Dear Tom and Donna, I read your story and thought that this might help you both. You both seem like you are religious, how ever this book will add a scientific perspective to your point of view along with researched results. On youtube you can search for a person called Jon Kabat Zinn, check out his presentation that he did for google and UCLA. And if you want more check out his book called FULL CATASTROPHE LIVING, well worth a read.

                stay safe
                James

                Comment


                • #9
                  Hey all,
                  Sorry for the delay, a bit under the weather. Thanks for the replies. To Phil, I want to say something that occured to me after I re-read my first post. My pointing out the differences between our circumstances was by no means a judgement, just an observation. I was 20 once. Good luck, I hope you get your Tesla. To James, I have Kabat Zinn's WHEREVER YOU GO THERE YOU ARE on my bookshelf, I'm familiar with him, though I've not read the book you mention, I'll look for it. Thanks. My wife and I are both very spiritual, though not religious in a conventional sense. More on that later, believe it or not.
                  Now, before I describe the journey that landed me on this site, a few words about my background with investing, such as it is. Dating back to my early 20s, when my boss' Wall Street Journal was my daily lunchtime reading, I've long had a strong interest in financial topics. I have a couple of shelves of books on business and financial topics, I read business articles all the time, listen to business programs on public radio. For someone without a business or finance degree, or really any formal training, I consider myself fairly literate in the area.
                  But my actual investing experience is limited to the funds that my retirement account is invested in. For those who may not know, with a 401(k) in the US, the account holder is usually given choices for how to allocate it among an array of funds, some conservative, some more aggressive. Money market, bond, large-cap equity, international, emerging market, etc. I have a mix. I've been a good boy and listened to the conventional wisdom pundits. You know, blahblah diversify, don't take risks, be happy with your small returns that's just the economy we live in. Part of me always thought that maybe I could have, should have done better by actively managing my money, but somehow the motivation to do so never really took hold. Maybe the chaos of working hard, raising three kids, managing a household, etc. made it seem a back-burner issue. I think, too, I just never found a comfort level with any of the alternative possibilities.
                  Because I did look. Managing a portfolio of individual stocks seemed like more work and time than I could manage. There are, after all, thousands of stocks to sift through, as well as hundreds if not thousands of pundits offering, for a fee of course, to help you decide. Making the right choice is hard. I lokked into commodity futures about 20 years ago, but the technology then was different. You couldn't even get real-time price feeds without paying (15 min. delays were free). I paper traded a bit, but decided the big guys held all the cards, deck stacked against the individual investor. I did learn about tech. analysis then, chart patterns, moving averages, Bollinger, Fib., etc. Later I investigated (stock) options, but never felt confident enough in my understanding, and if you don't have a plan you're confident about, you're dead, I think.
                  About a year ago I looked into penny stocks, and in a strange indirect way that began the chain of events that landed me here. I was in a bookstore one day and thought I'd see what they had on the topic. The best I could do was the "for Dummies" book. As it happened, they only had it as part of a two-pack, the other volume being, natch, Currency Trading for Dummies. It was only a few dollars more for the two, so I made the purchase, tossed the Currency book on the shelf, and read the other. Didn't act on it--I think it's possible to make small sums, but for liquidity reasons, If you try for a big score, you could end up with 10,000 shares of something no one else wants. Oh well.
                  I often play computer games for relaxation. Mostly the free puzzle games. They're free because they have those ads off to the side. Usually they're targeted ads based on recent online activity. If I check out a car I like, I get car ads. When I buy something from Amazon, I get a torrent of ads from them. Not long after the book purchase I mentioned, I started seeing ads from Forex.com, offering a free e-book download of the Dummies book I'd bought and ignored. I could be wrong, but I really don't remember any activity that would have triggered the ads. For a while I ignored them, but they wormed their way into my consciousness enough thet I remembered the book I'd "unwillingly" bought, and I pulled it off the shelf and read it.
                  Later I would see some glaring omissions in the book--like zero mention of signal-copying as an approach to trading, and no mention of the restrictions on US traders--but I did learn a few basics about currency pairs and generally how the market works. The stuff about fundamental and technical analysis was old news, but there were some new concepts. Bottom line, I came away thinking, this is not beyond me, I might be able to master this. Plus this all happened while Donna was in the hospital and then the rehab hospital, and the disappearance of my job, so it seemed to merit further study.
                  For me, that means the internet. You know how that goes: Google some relevant phrase, click on the results that look interesting, and find in those sites more links to check out. It's a meandering sort of journey, wading through lots of dreck to find the good stuff. And there is a lot of dreck. Fear not, though. I have enough healthy skepticism to quickly flee the hucksters, the ones promising to reveal a Super Secret that the Big Guys don't want you to know, That you can buy for a short time only at a drastically reduced price and turn $500 into $350,000 in two months!
                  I have to confess my memory is a bit murky on what actually led me here. I may have stumbled on Nick's youtube series, or it may have been the favorable reviews of Viper in the Forex Peace Army site. I think it was the latter, but no matter. When I did find it...
                  Well, I'll pick that up next time. For now, I'm going to say something that may irritate some. I mentioned that Donna and I are quite spiritual, if unconventionally so. In that vein, I believe I was "led" here. The inadvertant book purchase, the ads that wouldn't go away, the random internet wandering that hit the right links to get here...some would call all that coincidence, I call it synchronicity. You may, if you're willing to accept the basic premise, call it something else. God, Providence, guardian angels, spirit guides, Cosmic Muffin... I'm not here to preach or proselytize. But that's what I think. Hope I haven't offended anyone.
                  Thanks for reading. Peace and pips to all.

                  Comment


                  • #10
                    Hey Tom,

                    Wishing you all the best of luck with your forex journey.

                    Looking forward to reading more updates from you and watching your progress.

                    Cheers,
                    Mario.

                    Comment


                    • #11
                      Hi Finn,

                      Are you still planning on updating us? I'm keen to hear how you're going.
                      Would you like free lifetime access to our forex trading room?

                      Open an account at Blueberry Markets and save the $97/monthly fee.

                      Click here to find out more.

                      Comment


                      • #12
                        Loved reading this story, keep updating Tom. ties in nicely with Adams story, or Phils as he has now given his first name. My circumstances arent really too different from yours Tom in terms of age, job situation , health of family etc etc. So I can understand your desire to look for a better/easier way to take yourself into retirement. When I read Phils story I was really worried and said so on his thread. I still am worried about him because I think he has fallen into forex by accident and sees it not maybe as a get rich quick scheme but certainly without fully understanding the consequences. You on the other hand, although you have also fallen into it accidentally, at least have a bit of background and understanding of what the risks are, and they are high. Anyway, please be careful, forex is not easy money and although there are good services out there they all run into problems eventually. Keep your risk really low and dont be tempted to increase it when things seem to be going well, the market has a way of teaching you a harsh lesson. Look forward to hear what you are using to make money in forex

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