The 100-Pip Tradertrading account funded by parents. This was something that we
had to do from scratch.
Q: So you started immediately in FX, in Forex, or did you first
dabble in futures or stocks or something else?
A: I’ve never made an equity trade in my life, except in ninth
grade when I bought Pioneer stock and it went down at least 10
points by the end of the semester.
Q: Tell us about this trader from southern California? How did
he get you involved in the markets?
A: I was introduced to the trader in southern California through a
friend of mine who had been very successful in business. My friend
said, “You know, if you’re interested in trading, you should talk to
this guy who’s trading my money.” At the time, my friend said that
he loaned this currency trader in southern California approximately
a million dollars, and this currency trader was paying my friend
between 6 and 8 percent per month in interest. I thought, well
here’s something: this trader is amazing! He must be throwing
off enough gains to produce that 6 percent in interest monthly
and still have enough profit left over. In fact, my friend at the
time had received back the entire amount of his principal over the
course of about 12 months and now was receiving basically interest
payments. So I thought, if somebody is so successful at currency
trading that they can do that type of thing, that they can borrow
money at ridiculous interest rates, then that’s something I want
to learn about. One thing led to another, and this currency trader
introduced me to his methodologies, which seemed too good to
be true. And you know what they say about that. We discovered
later on was that he was raising money and making payments to
the people who had given him money in the first place by raising
more money on the side. Eventually that game caught up with him.
By the time I found out that he wasn’t for real, I had already sort