Hi, I’m Rob, I’ve been looking into forex for a few weeks now, still a long way from a real account!
I thought about it a few years ago but I didn’t really have the time and nowhere near enough money so I forgot about it! Recently I got in to it through a friend telling me about IQ Option, and how well he was doing with it, I looked into it, gave it a go, lost a bit of money, realized it was a bad idea and took my money out, but it got me looking into “real” trading, I learned enough through IQ Option to make sense of it, then found this site, which made a lot more sense of it!
I’ve opened a demo account with Oanda, at first I just played with it to get a feel for it, then started to try using it properly, I’m not doing too badly, but not really doing well either, it’s early days so I didn’t expect to be awesome at it straight away.
At first I was using fxTrade but decided to ditch it and start learning MT4, my PC is already up to the task but I decided to add an extra monitor, if I get into it properly I intend on building a separate PC and using my spare bedroom as an office, I’ve specced a new PC, with the idea that if I can make enough money trading to build the PC I’ll go for it, my target is £1500 (I don’t expect to be able to do this any time soon).
I have a full time job, which I don’t intend on leaving, I’m not planning on making a living with forex, for a start I don’t have the starting capitol for that to be a realistic plan, I’d like to be able to make some extra cash, with the ultimate goal being to pay off my mortgage a lot sooner! But who knows, maybe in the future I’ll be able to think about it becoming my only source of income.
At the minute I’m struggling to reliably predict what direction the price is going to go, I’m around 50/50, I sometimes play around with the mobile app while I’m on my breaks at work which usually ends badly, I don’t intend on using the mobile app with real money, just want to get as much practice as possible, so far I’ve learned not to trade at work!
I think I’ll have to go for longer term trading due to the amount of time I have spare, for now I have from around 8pm till 10pm, I have almost all of the weekend free which is good for research but no good for practice, I’m prepared to get up earlier so I can put some time in before work, but there’s not much point at the minute, I’ll wait until I know what I’m doing before I start changing my routine!
I was considering doing a course, but having read through the forum I don’t think I’ll bother, I get the impression they are mostly scams, trying to lure people in with the promise of great riches over night, I’ll stick to reading, and reading, and probably more reading, I’ve been through a lot of the school of pipsology and keep going back through it to expand on certain points as and when I need to.
Sorry for the long post, I tend to loose myself in things, comes in handy when I’m learning new things!!