I quit my job and skipped education to pursue Forex fulltime!:) What now?

[randont]

I'm right there with ya bud. Two months ago I quit my job and I've been doing forex full time since. It's definately a challenge. I've been studying forex for about 8 months now and been trading live for 6 weeks. My one piece of advice, start small. The psycological aspect of this is something that has to be learned. It's not that hard to find a profitable system. Whats difficult is sticking to a system. I use the systems discussed on this thread Trading Systems in 'New Concepts In Technical Trading Systems' by J. Welles Wilder. Don't be turned off by having to buy a book to follow them. It's a classic. Written in 1978 and STILL one of the very best out there imo. I honestly believe that the systems in this book are better than 95% of the systems out there. Anything worthwhile takes time and hard work. Good luck to ya.

[Johnny]

Excellent ranont! Now we`re talking!

I`ll check out the book and the thread.

Thank you for the kind words.

Johnny

Originally Posted by randont

I'm right there with ya bud. Two months ago I quit my job and I've been doing forex full time since. It's definately a challenge. I've been studying forex for about 8 months now and been trading live for 6 weeks. My one piece of advice, start small. The psycological aspect of this is something that has to be learned. It's not that hard to find a profitable system. Whats difficult is sticking to a system. I use the systems discussed on this thread Trading Systems in 'New Concepts In Technical Trading Systems' by J. Welles Wilder. Don't be turned off by having to buy a book to follow them. It's a classic. Written in 1978 and STILL one of the very best out there imo. I honestly believe that the systems in this book are better than 95% of the systems out there. Anything worthwhile takes time and hard work. Good luck to ya.

[pipish]

I have been getting my a$$ handed to me. But I overtrade and get too involved in the $ amount lost or gained. I hope you do very well.

[ECN-scalper]

Originally Posted by lovely patrica

I believe that trading forex full time is not a good thing.You should depend on another income.And this is beacuse the forex market Activity is unstable.so having a second income will save you in the case of the volatile market.

Trading FX full-time or day trading the NASDAQ are all
attainable goals provided that you are stable to start
out with. Quitting your job before you have at least
$20,000 in your balance consistently churning out
at least enough money to pay your bills and to live
is a foolish thing to do. And trading only seems
unstable and volatile because you do not have the
full-time to concentrate on trading. You simply cannot
make a living on trading, stocks, FX or otherwise, if you
have a full-time 9-5 job. It's very difficult. And people
with jobs always try to hit a homerun rather than
trying to create a sustainable consistent income on
a monthly basis. That should be the goal.
It can be done. I have been trading full-time
for 5 years now. I quit my job only after I had
$50,000 in my trading accounts.

[pablopluto]

Originally Posted by lovely patrica

I believe that trading forex full time is not a good thing.You should depend on another income.And this is beacuse the forex market Activity is unstable.so having a second income will save you in the case of the volatile market.

this just tells me you might be scared to be a trader. If your scared get a demo account and dont go live.

[rantinraven]

I wish you the best of luck attaining your goals. I don't need to caution you because that has been done here. I congratulate you on being committed! Hell any new venture started needs that first and foremost. Without passion anything you do will be meaningless,so keep that alive as you learn, and hopefully we will see some great pippin posts from you. Raven

[VulcanClassic]

I wish I could quit my job. Not until I'm making my current salary with trading though. I wish you success.