Rags to Richesof how long it’s going to take me, whether it’s going to take one
month or two months, or three months, that is what I needed to
do. My line of thinking was that if I could make$2,000, I would
withdraw$1,000, and at that point, I have recouped my entire
capital. Whatever I lose afterwards is not as important because
I’ve got my capital back. So my goal was to double my capital three
times in a row back to back in my demo account. Eventually I
actually managed to do it and, in fact I, doubled it four times in
row.
Q: In four months?
A: No, no, not in four months. It was six or seven months and that
was where I got the confidence to go live, but the transition from
going from demo to live was not something that I had prepared for.
Psychologically, there was a massive difference between trading
demo and trading live. The reality is that when it’s your own money
on the line, it has a huge effect on you psychologically whether you
are aware of it or not. I became hesitant. I would see the signals
but I would be too scared to enter the trade, and only later did
I find out that if I entered I would have made a large amount of
profit. When I did get into a trade, I was completely spaced out.
I would be so scared of things going against me. One of the main
things is that my wife was very anxious about taking risks. She is
not a risk taker, not even a calculated one. I never realized just how
much of a role she actually played in my life when I first started
trading.
Q: Did she support or encourage you in the beginning?
A: I wouldn’t say she encouraged me because, in the beginning,
she felt it was money that would go down the drain and that I was
basically wasting it. I had to work with her and work with her until
one day she said to me, “Fine, if that’s what you want to do, go
ahead and do it.” My reasoning to her was, “Look, just give me a