Hi. My name is Phila Maphanga. I started Forex Dream Chasers (FDC). I’m a South African who resides in Witbank, Mpumalanga. Forex dream chasers began in November 2019, 2020 around March, during COVID-19. I then made the decision to go a step further by offering assistance to individuals who got retrenched and those who were jobless. I’m pleased to report that my former students are now profitable.
Today, more than 50 people received forex trading lessons from Forexdreamchasers. Forex trading is very simple. Always remember that you can trade forex on your own without anyone teaching you. That will take you roughly 4 to 5 years of learning. If you get someone to help you learn how to trade, that will minimize the years that you were going to spend trying to learn how to trade alone. You need to have good information about trading so that it will be easy for you when you trade. The right information will put you five steps ahead of someone who is learning by himself or herself.
I will always recommend people get themselves a good mentor who will help them and guide them as well. Remember, making a lot of money doesn’t make you a good trader. We have traders and gamblers in Forex; those are people who want to become millionaires over night.
Challenges on my trading journey
My trading journey was very painful by then. I don’t wish anyone could experience what I experienced when I was learning. I remember 2017 seeking help from different browsers, but I’m not going to mention their names here. The first guys said to me I must pay him R15000 he will teach me how to trade by then my grandma is not working. Where was I going to get this kind of money? Even if she had it, guess what she was not going to give me. How do I know that she never believed in Forex until I made R13,000 in 2019 and I bought myself a laptop?
That is when she started to pay attention to trading. The second guy whom I texted seeking trading lessons asked me for R7,000. Where am I going to get this money while I am unemployed? was there because I wanted to have more so that I could fight poverty and become financially stable. I then decided to start learning using pdfs. I also read most of the 60 to 70 forex pdfs, but none of them were helpful. Then went to my YouTube channel because I’d heard people talking about an Indian guy who was doing wonders with forex.
I then subscribed to his channel so I could learn the funny things he was doing in his native language in all the videos. Learning from YouTube was hard I couldn’t hear a thing that is funny, but I continued to learn by looking at what he is doing in the chart. The next thing you will hear someone suggest a guy from YouTube, and I will jump from one to another seeking for Forex lessons. I then realized that there is something special about Forex trading. I started to educate myself by observing what the market was doing, and I was back testing to see how a pattern worked until I noticed that I had to try different things so I could have a better understanding.
Challenges during trading
I was trying every day to overcome my fear after I lost a few forex accounts, which was very painful. I would take several loses in a row I will then revenge the market of which is wrong. Therefore, I will start taking losses like nobody’s business. I didn’t know how to control my emotions, which is why I was taking so many losses. Ask a trader today how it feels to blow an account. Another thing I was struggling with was drawing support and resistance. I ended up using indicators called stochastic.
Remember, if you can’t draw your support and resistance correctly, you won’t be able to get the correct trades. That is when I jumped to look for another trading strategy because price action wasn’t working for me and I wanted to have money. Then I started trading divergences using the stochastic indicator that was around in 2018—around June. I was getting a few trades right, but I think there is something wrong with what I am doing.
I kept studying and trying to make a stochastic a permanent trading strategy, and that is when I noticed that this thing was not working. Someone told me I need to learn the candlestick pattern, which is why I am taking lessons. I went for candlestick patterns, but I didn’t finish them. I noticed that I am washing my energy. Until I went back to price action, that is when things started to turn around to my favor now.
How did I overcome my challenges?
Price Action, and almost everything changed in my trading career. I knew how to trade support and resistance by learning how to draw them properly. I then started to go deeper with price action, and that is when I knew that candlestick patterns were not working for me. Also I learned how to trade head and shoulders patterns, and I was profitable. I learned how to trade potential continuation patterns (PCP) in price action, which changed my career. If you have the right information, your trading career will boom very quickly. I am not a millionaire yet, but I am profitable, and that is why I started to write my own eBook to help people learn how to trade. Visit my YouTube channel to learn PA https://www.youtube.com/channel/UCEuc7IYRMZOckphv12N6FPg
Today, forexdreamchasers is big enough to teach many people about the global economy. I am happy to say I have a “Forex Secrets for Beginners” Forex Secret For Beginners eBook. Here is the link. Make sure you buy it. You will learn more about how I dealt with trading emotions and ego. My experience will make you profitable. Make sure you visit all my social media platforms and learn