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

[Johnny]

Hey guys,

I have been playing around with stocks the last year and have learned a lot.

However, I have to admit that most of my success can be attributed to a strong bull market. In other words, I have a lot to learn

The initial plan after quitting my job was to go to school and specialize in finance, but I have now made the decision to work 100% for myself from the start and make a wholehearted attempt at making a living on Forex.

I`m finishing up a project now and when that is done, I will have all the time in the world to learn Forex.

How do I proceed?

I have bought a load of books and gone through the EXCELLENT "School of Pipsology" once already. Repeating that one for sure

I have also opened a demoaccount at Northfinance using Metatrader, even though I have traded virtually nothing yet.

Are there any resources on learning how to use Metatrader?

Should I read as much as possible before even starting to play around with my demoaccount?

I would appreciate it a lot if you guys could help me design a Forex-bootcamp!

[mytwopips]

The IBFX site has nice tutorials for MT4.

Good luck.

[mytwopips]

I won't give you too hard of a time because I would never learn anything if it wasn't for jumping into the deep end and doing it the hardway. That is how I succeeded and failed at everything that I have tried. But... you know... you are about to get a good lashing from other members about this.

[rhodytrader]

Originally Posted by Johnny

Hey guys,

I have been playing around with stocks the last year and have learned a lot.

However, I have to admit that most of my success can be attributed to a strong bull market. In other words, I have a lot to learn

The initial plan after quitting my job was to go to school and specialize in finance, but I have now made the decision to work 100% for myself from the start and make a wholehearted attempt at making a living on Forex.

Not sure what market you've been playing that's been in a "strong bull market".

More to the point, though, what sort of starting stake are you looking to earning your living of forex from?

[n_aftab]

Oil and gold to name 2 that i can think of.

good luck with it,

N

[mtandk0614]

Sink or Swim huh ??

Well.........uhhh........well...........I will give you credit for having a big set of.......ok enough of that.

Honestly, if you want to read the books - Cool !!
Learn how to use MT4 ------------------ Cool !!

But if you are honestly going to just in the water and fight the ocean, I would at lease get a life jacket. In this case make it a mentor. You may want to check out the 40-100 pips Live Trading w/ James. At least that way you can earn while you learn

Happy Hunting, and considering I eventually would like to trade as my main income as well, please keep us updated on how you do

[Johnny]

Originally Posted by mytwopips

The IBFX site has nice tutorials for MT4.

Good luck.

Sweet. Looks good. And thanks!

Originally Posted by mytwopips

I won't give you too hard of a time because I would never learn anything if it wasn't for jumping into the deep end and doing it the hardway. That is how I succeeded and failed at everything that I have tried. But... you know... you are about to get a good lashing from other members about this.

I always get so busy with whatever I`m doing because I`m a passionate guy. If Forex were reduced to an hobby, I`m afraid it would stay that way.

The short term plan is three months of full immersion. Then I`ll take it from there. I`m prepared to work hard everyday.

Originally Posted by rhodytrader

Not sure what market you've been playing that's been in a "strong bull market".

More to the point, though, what sort of starting stake are you looking to earning your living of forex from?

Oslo Stock Exchange.

I`m starting out with roughly 25 000 dollars.

First I`ll concentrate on learning the skills and then I`ll worry about the money.

Originally Posted by mtandk0614

Sink or Swim huh ??

Well.........uhhh........well...........I will give you credit for having a big set of.......ok enough of that.

Honestly, if you want to read the books - Cool !!
Learn how to use MT4 ------------------ Cool !!

But if you are honestly going to just in the water and fight the ocean, I would at lease get a life jacket. In this case make it a mentor. You may want to check out the 40-100 pips Live Trading w/ James. At least that way you can earn while you learn

Happy Hunting, and considering I eventually would like to trade as my main income as well, please keep us updated on how you do

It`s not like I`m risking my life or something.

I`m taking a few months for starters to fully immerse myself in this. Many people are social clients for years without working so I think I`ll survive

Thanks for the tip on Live Trading w/ James.

I`ll keep you guys posted.

[Ilovepippin]

Learning how to demo trade and getting skills is one thing. Then trading live for fun is another. Trading live for a living is a comletely different ball game.

1. Learn the skills, at least 6-8 months.
2. Trade a small mini account live at least a year.
3. If you're doing well, then you have a good profit in your mini-account, use that to open a standard account.

There are some horror stories out there of some reaaly smart people losing lots of money. So be carefull.

Good luck.

[IDR]

Originally Posted by Johnny

I always get so busy with whatever I`m doing because I`m a passionate guy. If Forex were reduced to an hobby, I`m afraid it would stay that way.

The short term plan is three months of full immersion. Then I`ll take it from there. I`m prepared to work hard everyday.

But are you ready to get beaten up everyday? Please remember that Columbus lived hundreds years ago. By then you could load up everything into your boat and set sail to sunset to find glory and adventure. Today...either you plan your steps or you'll end up in the nearest ICU.

Originally Posted by Johnny

I`m starting out with roughly 25 000 dollars.

Throw $1,000 for learning-by-doing (trade live). Keep the rest for the time being. If you can make profit with $1,000, you just as well send those $24,000 to my account and forget about it.

Originally Posted by Johnny

Many people are social clients for years without working so I think I`ll survive

They are what they are because...?

Originally Posted by Johnny

It`s not like I`m risking my life or something.

You have got to be kidding me!

[mrpro]

Respect for taking the plunge been thinking of doing the same but unlike you i have no previous trading experience.

I find it hard to focus with work and girlfriend around.. altho i dont wanna get rid of her they're both very time consuming.

Anyways, im in .no also, add me to msn or send me an email if you wanna bounce some ideas, strats or talk about the NOK

cyberdog@klubbabubba.net