24 hours and I've found a new game

Alright so yesterday I’m sitting where I am right now, it was probably about 4:00pm. I was browsing a forum that receives quite a lot of hits and is always refreshable and I read something about Forex. Yesterday I had never heard of people profiting off the exchange of foreign currencies or even the word Forex, but ever since then I’ve spent every minute thinking about it and researching it while at a computer. I plan on demoing for a long time to really learn. My question is, since I’m poor and it could take atleast three years to start a standard account from where I’m at, can a micro account with somewhere from $500 to $3,000 make maybe $1,000 a month with low risk or is it even feasible (im_dum). I guess I might know more if I spent more time demoing. It’s been really hard trying to learn all these concepts and lingo in one day but I now I’m going EZmode and just asking on the forums begging to get flamed. It seems like the best combination thus far, not the best in the real world but as it appears to me, would be to watch news events and compare charts in trusted exchanges like EURUSD and guess where you’re going to go. I’m a bit young, and unlike others in my shoe I can say I’m quite ignorant in my stance. But I’d like to think that everyone starts out the same way and I think with perseverance I can become adequate like in many other skills I’ve acquired through research and diligence through the internet and life. Also I’d like to thank everyone who has posted here, the most I’ve learned in the past 24 hours wasn’t due to YouTube videos, the person who introduced me to the concept and I talked to for a few hours, or tutorials or even the BabyBips School part of site. The forums on this site have been and I’m sure will continue to be my basis thus far of my understanding.

Flame Commence :o

It’s possible in the sense that winning the lottery is possible…

or you could do yourself a favour and save up considerably more and study/practice while you save up. then in a few years, you’ll have a good amount of experience with your trading method and then you’ll have the money saved up too! and if you don’t have the patience to do that, you probably don’t have the patience to make good trades either :wink:

Why don’t you take it easy?.. it’s a profitable business if you take the time, the money and the energy to learn the right way.

take it easy,don’t force anything, be patient. start little by little.

include also your experiences and learnings as your assets.

This forex stuff can get pretty addicting. As others have said, just take it slow. No you probably cant make 1k in a month with just a 3k account. A good beginner goal is to make 1% per week for a couple months. If you can do that then put down some real money and give it a go.

If you’re doing 1% a week, you’re doing extremely well as a beginner! :slight_smile:

I think a good beginner goal is profitability, then little by little and extra 1% per month.

I like to take things cautiously though. :slight_smile: