Is forex trading worth the time?
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  1. #1
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    Default Is forex trading worth the time?

    Hi everybody. Hope you are all doing fine and succeeding at making money. I needed to discuss something critical about my life and i think only the people on this site can help me with it. I am basically a undergrad medical student and i am also interested in forex trading. But since everyone knows that medical students have to study alot and have to spends hours and hours with 10 lbs medical books so i do that too and to study forex i have to take precious time out of my schedule. So i wanted to know if its really worth it. Im still not going to make a career as a trader because i love being a doctor but the money isn't good. It will be years before i am going to make serious money as a doctor but i took up studying forex so that until i start making good money as a surgeon i can have a good income. Im not expecting to make millions in forex but still atleast a thousand bucks a week would be good for me. So, is forex trading really worth the time im putting in it?

  2. #2
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    Quote Originally Posted by SidB View Post
    Hi everybody. Hope you are all doing fine and succeeding at making money. I needed to discuss something critical about my life and i think only the people on this site can help me with it. I am basically a undergrad medical student and i am also interested in forex trading. But since everyone knows that medical students have to study alot and have to spends hours and hours with 10 lbs medical books so i do that too and to study forex i have to take precious time out of my schedule. So i wanted to know if its really worth it. Im still not going to make a career as a trader because i love being a doctor but the money isn't good. It will be years before i am going to make serious money as a doctor but i took up studying forex so that until i start making good money as a surgeon i can have a good income. Im not expecting to make millions in forex but still atleast a thousand bucks a week would be good for me. So, is forex trading really worth the time im putting in it?
    you first have to define the word "worth".

    It means different things to different people. For some, its all about the money. The other extreme could be about beating the "system".

    Finally if its money then the question should be how much is a pip worth?

    Would we say a pip = 0.10 cents worth the time?

    What about a year down the lane where 1 pip = USD 20.00. Is it worth an individuals time?

    When it gets to say 1 pip = 200 USD ?? What now??

    As I said, it all depends.

    P/S what might be overbought or oversold to some might just be the signal to enter for the others. It all depends.

  3. #3
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    If all surgeons and pilots were like traders, almost 95% of earth inhabitants would be dead.

    You as a future doctor are aware of the danger of being a bad surgeon because the danger is clear and present. Being a bad trader in certain way have an analogy with a bad surgeon. The difference is that you probably will not kill your first patient but you will blow up your first account.

    I am an electric engineer and i've worked in an hospital before working at the electric company. Back to the days in the hospital i was at the medical equipment maintenance unit and it was right next to the hospitals morgue and every day new "pacages" arived. First it was awful then one gets used to it. After a while i had to attend to a surgery at the surgery room, supervissor was not there and so i had to be there just in case, there is always somebody in case the aparats fails. I guess it was a stomach surgery, never asked, we never asked questions, but at the begining i was afraid to take a look but after feeling a fight or fly response in my wholeself (just when a skydiver jumps for the first time) i've decided to just look and so i did, guess what, nothing happened, of course it was shocking for a few seconds but it is not like watching on tv, when you watch a surgery on tv you wanna puke but when you finally are in front of and wide opened body you just adapt to it. Where i am trying to go with this, well, being a trader takes time as it takes time to being a surgeon and if you are sensitive to blood and live moving organs you will suck as a surgeon and the same way you are loss sensitive you will suck as a trader. Trading is not about winning, is about not lossing, profits are a secondary thing.

    If you don't have time to be at the pc everyday, don't worry, you can try carry trade or some other long term strategy. As long as you learn risk management and how to put stop loss properly, you will sleep well because you will not lose your entire acc, just a small fraction of it. Remember, get used to small loses as you will get used to blood.

    Regards.

  4. #4
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    Jul 2011
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    It seems like your asking more so if forex can help pay for your school and such so that you don't need a 9 to 5 or some weird job to sustain yourself am I correct?

  5. #5
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    Quote Originally Posted by Tansen View Post
    It seems like your asking more so if forex can help pay for your school and such so that you don't need a 9 to 5 or some weird job to sustain yourself am I correct?
    Yes, you need another source of cash. Take forex as your retirement plan. As you prctice add little funds time to time, something like 50 usd per month. For living you need at least 20k dolars in your account.

    Regards.

  6. #6
    Join Date
    Mar 2011
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    Canada
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    SidB,

    It really does worth the time.

    Speaking for myself, there is no perfect recipe. I do work a full time job. I do trade outside my 9h to 5h job.

    There is always something to learn in trading. But once your setup and the daily routine is set, it does cut down the time you need to spend in order to analyse your charts.

    Bare in mind something. There is always a session that open or close. So no matter where you are in the world, I am sure you can catch some good opportunity. (London, NY or Asian session) All this without the need of staying awake all night.

    I would says, finish your surgeon degree. When you have spare time, start reading on trading. Paper trade. Work as a surgeon and then start trading as hobby or sideline !!!

    This post reminds me my last vacation. My daughter was sick and we when to a clinic in Orlando. The doctor had a trading setup directly in his office !!!

  7. #7
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    Quote Originally Posted by Bucknaked View Post
    SidB,

    It really does worth the time.

    Speaking for myself, there is no perfect recipe. I do work a full time job. I do trade outside my 9h to 5h job.

    There is always something to learn in trading. But once your setup and the daily routine is set, it does cut down the time you need to spend in order to analyse your charts.

    Bare in mind something. There is always a session that open or close. So no matter where you are in the world, I am sure you can catch some good opportunity. (London, NY or Asian session) All this without the need of staying awake all night.

    I would says, finish your surgeon degree. When you have spare time, start reading on trading. Paper trade. Work as a surgeon and then start trading as hobby or sideline !!!

    This post reminds me my last vacation. My daughter was sick and we when to a clinic in Orlando. The doctor had a trading setup directly in his office !!!
    Oh dam, tell me one thing, this doctor was not newbie trader qulity like, doesn't he? Jesus.

    Regards.

  8. #8
    Join Date
    Jul 2011
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    Quote Originally Posted by Mr Gone View Post
    Yes, you need another source of cash. Take forex as your retirement plan. As you prctice add little funds time to time, something like 50 usd per month. For living you need at least 20k dolars in your account.

    Regards.
    Heh Gone, the last two posts had the utmost respect from me. They were truthful, funny, and informative.

    The man who taught me was a pharmacist, I only got a brief lesson from my dad's friend but it was enough to trickle my interest. He had charts setup directly from his office he didn't really need the money but he was playing with it as a passive interest. I don't work a 9 to 5 but am usually gone for more than weeks at a time so therefore if I had good trade setups in the mean time I wouldn't have to touch I would be secure and make money two ways.

  9. #9
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    Canada
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    Quote Originally Posted by Mr Gone View Post
    Oh dam, tell me one thing, this doctor was not newbie trader qulity like, doesn't he? Jesus.

    Regards.
    No. I do not think he was a Newbie. But he did told me something.. Discipline, Discipline & Discipline....

    Regards,

  10. #10
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    Quote Originally Posted by Tansen View Post
    Heh Gone, the last two posts had the utmost respect from me. They were truthful, funny, and informative.

    The man who taught me was a pharmacist, I only got a brief lesson from my dad's friend but it was enough to trickle my interest. He had charts setup directly from his office he didn't really need the money but he was playing with it as a passive interest. I don't work a 9 to 5 but am usually gone for more than weeks at a time so therefore if I had good trade setups in the mean time I wouldn't have to touch I would be secure and make money two ways.

    I do like my actual job and i do like my trading. Sometimes i just wanna get of that job but i have to come back to earth i won't find another job just like that and my fx acc will not put bread upon my bare hands for the moment. So as in trading there is some bad moments that i just have the ability to move on, in my carrer i must do the same, it is a temporary thing, when it is emotional the final result is bad. All emotions are bad, at least for trading, happines included.

    Regads.

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