A successful entrepreneur shares her thoughts on business success and failure.

Ah, time to update again.

It’s been a long week. It was one of those weeks that seems to be infinitely long and go by very quickly at the same time. I survived on little sleep and a lot of caffeine (hey, for me, half a Diet Dr. Pepper is a “lot” of caffeine!) I was out past midnight almost every night, including last night, when I got back from SuperHappyDevHouse at about 4:45AM.

To run it down quickly, I got back Monday, went to a Forex meeting on Tuesday (which was in San Rafael, which is over an hour away from my house, and ended at about 12:30AM), went to movie night on Wednesday (Sideways, which I didn’t like since I am not a 40-something going through a midlife crisis), went out with Bill Ayers to do a sales mentoring session in SF on Thursday night, went with D to Dave & Buster’s on Friday, and went to SuperHappyDevHouse on Saturday. Which brings us to today, and somehow I have survived the week. Leetle zoom has 1400 more miles on him (in 10 days!!) and has had an alignment problem fixed. He is also very dirty, and I have promised to show him some lovin’ by getting him a car wash next week.

Next week is already fully set to be a blur as well. Tomorrow I have my first Forex training. For those of you who don’t know what Forex is, it’s foreign currency (exchange) trading… kind of like day trading, but with currency instead of stocks. I have watched other people make a lot of money with this, and I am excited to embark on this as a hobby that will hopefully make me some money as well. The first training is 8 hours long and is a web class. Then I do some trades, get comfortable with the system, and take the advanced training, which is another 8 hours and which I will probably do next month.

My friends are split on whether I will make any money with foreign currency trading. On one hand, there’s DW, who is completely convinced I’m going to come up short on this, and feels my time could be better spent in other areas. On the opposite extreme, we have two guys (Reggie and Doug; Reggie’s the one in San Rafael and Doug is the one who signed me up) who do the foreign currency trading training, and they’re both multi-millionaires from it. (Ironically, though they are part of the same program, I met them at different times, they didn’t know each other until last weekend, and they have quite different strategies!) Either way, I’ve seen the numbers and I think I can pull this off. You are welcome to take bets on this as well; feel free to comment in this blog. My commitment to DW, and to you, is that I will be blogging all (or at least the vast majority) of my trades throughout time, so in 6 months or a year you all can look back on when I started trading and see exactly what worked and didn’t work. The good news about the online trading class is they give you a demo account, which you can use to trade on the real market but without losing any of your own money. They recommend you trade in the demo account for at least 30 days, but I will probably spend longer in it. As a footnote, Reggie showed me his demo account. With $10,000 invested (that’s $10K of your own money), he traded for 15 days and had $18,000+ at the end of the 15 days. The more interesting news is that he only guessed correctly on 43% of the trades (that is, he probably would have done better with a chart printout on a dartboard), yet still came out ahead.

I’ll be making a new “Forex” category on my blog so you can follow along and root for me (or laugh at me) as my time in Forex training progresses. My philosophy is: If people can spend 4 years in college learning how to make a salary for the rest of their lives, I’ll take 1-2 years and learn this and learn how to make money that will keep me from needing a salary for the rest of my life. Or not. We’ll see! ๐Ÿ˜‰

Also, look for a large (and really good) announcement from Simpli in the next 14 days. I also have an investor presentation on Friday in Vegas to raise our first round of seed capital for our next stage, so wish me luck there. This is going to be a crazy week, but hopefully I will have some time to update before next weekend.

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I'm Erica Douglass.
After selling my online business at age 26 for over $1 million, I created this blog to help you grow your own business quickly.

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