9 thoughts on “About”

1. bigdog 2006-12-21 at 01:53

   Dear Colin,
   would you be able to send me trading signals via Yahoo Messenger every time you enter a trade in forex? Would be really awesome. Because I have tried a lot, and have been interested in price action of James 16, and Mouteki and Diall systems,and Tom Yeoman, but I just do not have the time (full time job). I have a friend who does the trading for me, but we have not done well on demos. He trades the systems I tell him to trade.
   You semm to combine everything I have been looking for, and it wouldn’t be a big work for you, but an awesome help for me for a disappointed trader. Would be an awesome Christmas present.
   Please help me and contact me via e-mail!!!!
   Would be so awesome, I know I repeat mysel!
   Tom
2. Colin McGinley Post author2006-12-21 at 08:06

   I understand what you are asking and the reason why you are asking.

   Unfortunately I’m going to have to disappoint you and say that I have no plans to provide signals of my entries and exits.

   There are a couple of reasons for this.

   While you may think getting signals from me or someone else is the answer to your trading problems, it’s not. Really, it’s not. I could get hit by a bus tomorrow and you’d be back to square one.

   My own trading background attests to the fact that making money off other people’s trading signals is really hard work. It wasn’t making any money for me and so I had to stand back and re-evaluate whether I really wanted to make this trading lark work. The obvious conclusion to me was that I couldn’t depend on other people for my own success now matter how much I wanted to take the easy route. I needed to be able to do everything on my own. Learning how to get to that point is a slightly different matter, and one which is greatly helped by having a teacher or mentor who can guide you to where you want to go. They will provide signposts along the way so that you don’t go too far astray, but at the same time you’re the one that has to do all the hard work. They can’t do it for you.

   Providing signals to one person or to one hundred people is pretty much the same thing with today’s technology. I would need to set up reliable communication channels, have backup plans in case the main method of communication goes down, and so on. If I sent a signal to enter a trade, but you never got the signal to exit it, then things could turn out very messy indeed. If trades are deep in the red, would your tolerance for pain be the same as mine? Would you be able to hold on to those losing trades, not really knowing what my plan of action is?

   I also have a regular full-time job that can have rather long hours at times (‘crunch’ as it’s often termed in video game parlance can be a long slog sometimes). It is perfectly possible to trade the way that I do part-time and keep your full-time job. Some time management and prioritising can be used to make things work.

   I thought long and hard about whether I wanted to provide such signals when I set up this blog and I’m going to stick to my guns for the moment.

   Even if you’ve tried and failed to trade forex on your own, if you really want to become a trader you’ll persevere. Take some time off and relax. Then review what you’ve done and accomplished to date. Follow up with the things that seem to make sense to you and that have worked. Dump everything that you doesn’t. Keep looking to add new tools and insights to take you to the next level.

   If you like the way that I trade then continue to follow along with my journal entries. If you haven’t read ‘Bird Watching In Lion Country’ then I can only suggest you follow the link under the Recommended Products section and give it a try. Reading this book was the first major step in kick starting my own approach to doing things myself.

   If you really do want to follow someone else’s signals then I think you should seriously consider just putting your money with a money manager. You’re not really learning anything by following someone else’s signal so why put yourself under the strain of having to scramble to your trading platform everytime you receive a new signal. Just hand your money over to someone with a decent track record and let them do all the work for you.

   If you still think you’d rather do things yourself then you need to ask yourself why you want the easy way out. Do you want to become a trader or just make money. If you just want to make money then go find that money manager and give him or her your cash to trade. If you want to become a trader then you need to open yourself up to the world of personal development. You need to constantly be looking to make yourself a better person, not just a better trader.

   As the old proverb goes: Give a man a fish; you have fed him for today. Teach a man to fish, and he will sit in the boat and drink beer all day.

   Hang on, that’s not quite right: Give a man a fish; you have fed him for today. Teach a man to fish; and you have fed him for a lifetime.

   Learning to trade can be a long, lonely hard road sometimes, but the rewards are immense, not just on the monetary side. You will see yourself blossom as an individual and as a human being.
3. midgarsociety 2007-05-11 at 07:42

   Dear Colin

   My name is Stefanus Arief from Indonesia.

   Well, if you never heard of it, it’s located in South East Asia, near Singapore.
   (Maybe you’ve heard Bali, one of our province, as one of the beautiful places in the whole wide world:)).

   I’ve read the book “Bird Watching in Lion Country”.

   That book truly amaze me.
   It’s definitely an eye opener. It changed completely the way I see the Forex market, the threat and opportunity for me as a beginner-struggling Forex trader.

   I’ve known to Forex since 2005, traded live, ups and downs on my account, and now just recently before read the book, I stopped trading completely.

   I want to begin study about fundamental and how economics work, price dynamics and relational analysis just like you said.

   I’m ready to commit minimum one year to study everything that I can about what is that truly move the currency market.
   After that, after I have a little bit of confident, going live again.
   My ultimate goal is to gain plus minus 10% return monthly from Forex trading.

   I believe that’s achievable even with low gearing maximum 3:1

   I am so eager to subscribe to dr forex’s menthorship, but to be honest, I can’t afford it

   But giving up is not an option for me, so I decided to do self-study and jump to the water on my own.

   I don’t mean to bother you, but forgive me if I’m asking.
   For an ex-technical trader and complete beginner of fundamental like me, which website(s) do you recommend for start?

   Once again, I know you’re very busy person, so I’m deeply apologize to bother you.

   Thank you for this great site.

   Sincerely

   Arief-Indonesia
   PS. I apologize for my English as well, it’s my second language.
4. Colin McGinley Post author2007-05-14 at 13:50

   There are a lot of good websites out there that contain the information that you’re looking for. In the end it primarily comes down to a matter of personal taste as to which ones you’ll find most useful and readable.

   For general economic and business news you can’t go wrong with Bloomberg. I use both their website and TV station to keep abreast of the markets. CNBC is another good option if you can’t get Bloomberg TV.

   It’s also important to get an overview of things outside of the business world. I have a subscription to The Economist, which I would definitely recommend. I don’t get any daily newspapers; I prefer to stick to the weekly magazine edition of The Economist, and get my daily updates via the BBC news service.

   I also subscribe to a few daily currency e-mail newsletters. I find The Daily Pfenning and Black Swan Currency Currents to be worth reading every day.

   For a general review of recent economic data reports and what their supposed impact on the markets has been, I mostly read Kathy Lien’s write ups which you can find on DailyFX or FXStreet.

   Hope those get you up and running in the right direction!
5. james 2007-10-26 at 07:50

   Hey Colin, I recognise that place, is it in brussels?
6. Colin McGinley Post author2007-10-26 at 09:23

   You are correct. The picture was taken in a bar/café at the Grand Place in Brussels.
7. james 2007-10-30 at 07:39

   Cool! I was there last year during my tour of Europe. Nice place, could stay there for my retirement. Love the buildings, the weather and the food
8. autaret 2007-11-19 at 12:05

   Hi Colin, I’m here to you after I known Mr. Du Toit book (I’ve bought a regular copy last week). My experience is about 1 year trading Forex on Demo (not bad results) and some real mini accounts (not good, too hight leverage! . Now I’m going to open a 5000$ real account. I’ve got the BWILC’s philosophy and I hope, I’ve understood my mainly errors. I think your road is the best road, so Im going to follow your blog and hope to be in contact with you. I would like to follow the Mr. Du Toit mentoring as well … do you know if still there is the chance to be admitted?
   Thank you in advance, ciao from Turin (Italy)
9. Colin McGinley Post author2007-11-19 at 14:08

   Hi autaret,
   Dirk is still accepting mentoring clients. You should be able to find his contact details in the BWILC book, or else you’ll find them on his DayForex website. Good luck with your trading!