Hi, I am not 100% what I am hoping to gain from this thread, or what exactly I am asking, but I would love to receive some comments and feedback.
My Situation: I am a 20yo struggling actor in a long term relationship with a 24yo actress. I have always had an interest in Forex trading and I have tried to teach myself the art of it in my spare time, but other commitments have always got in the way. I am now a “resting” actor with no work in the forseeable future and I have jsut discovered babypips, and I feel this is my oppertunity to begin taking it seriously. My relationship has came to a funny stage, as having an older partner, she is know talking about the future, and how unstable ours is, both being actors. Plus the fact it is hard to find other income around acting. I know in five or six years time she would like to be in a situation where she can have children, and in all honesty, I know I am young, but if I could become financially stable by that time, I would be ready too. I understand forex isn’t an overnight scheme and that it will take alot of hard work, but I would like some advice and encouragement to help me. Anyone got any good stories to help? I am such an actor, I can’t help it!!! Has anyone got any good advice on ways to keep your head above in the forex world? I will keep posting on how it all goes too.
Anything.
Thank you for taking your time to read this very vague post.
Stephen
Hmmm… difficult questinon on many levels and no mistake! FX is not to be entered into lightly!
Honestly… the odds are pretty stacked against unless your prepared to put in the study and screentime. You’ve got a head start though given your background as an actor… ergo… rejection from countless auditions. That amongst all I would venture to say puts you in a good position. Taking rejection over and again with a rentless and dogged determination to suceceed sets you apart from the crowd.
That said, keep in mind serious money management, realistic goals and the next ‘jobbing actors role’ that comes along. LOL.
Even when you make it… **** happens to your personal life. There is one ‘old timer’ on BP who will testify to this fact and indeed I. Put this over and above your personal life and your in a park with two suitcases and your very own bench… LOL.
Is there any way you could give a little more insight into what exactly you are trying to get out of Forex?
Perhaps divided into what you expect in the next year, and what you expect in the next 3 years? I think the best place for a brand new trader to start is on their expectations, and making sure they are modest and reasonable.
In almost every case, account blowouts come from unrealistic expectations of profit!
My apologies to all concerned. Just thought it needed to be said given the gravity of the relationship.
I think it does. I too have a long-term relationship (7 years) and there were definitely times that it was straind because of my trading. That’s the reality of life, and it’s part of being a professional (in any field). Worth saying for sure R Carter
It doesn’t sound like you’re financially stable. Before tossing aside money you could lose and care about losing, get a job where income will come in routinely. Turn your acting into a secondary project. I went to school for fine arts, so I understand the pain and the pleasure of pursuing your passion. For me, I had success in writing, but it wasn’t enough to satisfy what I really wanted. I still write, but now I don’t have the pressure of making a living constantly taunting me.
Demo trade Forex, until you are consistently turning profits. Having a good month is not consistent. I would say a larger sample of 3 to 6 months can give you an indication, and 6-12 months of consistent profits to have the assurance you know what you’re doing to really put money into it.
I think I know a song about this!
We were together since we were five
She was so pretty
Emma was a star in everyone’s eyes.
And when she said she’d be a movie queen nobody laughed;
A face like an angel, she could be anything.
Emmaline.
Emma, Emmaline…
I’m gonna write your name high on that silver screen
Emmaline.
Emma, Emmaline
I’m gonna make you the biggest star this world has ever seen.
At seventeen, we were wed;
I’d work day and night to earn our daily bread
And every day Emma would go out searching for that play
That never ever came her way.
You know sometimes she’d come home so depressed
I’d hear her crying in the back room, she was so distressed.
And I’d remember back to when she was five…
To the words that used to make Emmaline come alive.
It was…
Emmaline.
Emma, Emmaline…
I’m gonna write your name high on that silver screen
Emmaline.
Emma, Emmaline
I’m gonna make you the biggest star this world has ever seen.
it was a cold and dark December night
When I opened up the bedroom door
To find her lying still and cold upon the bed
A love letter lying on the bedroom floor.
It read “Darling, I love you…
But I just can’t keep on living on dreams no more.
I tried so very hard not to leave you alone…
I just can’t keep on trying no more.”
Emmaline!!!
Ah, Emmaline!!
Hope you have a much better future though!
But seriously, Forex is a lot about commitment and I think you’ll generally find that 3 years is a realistic target to become profitable at Forex, so if you can live on a meagre supporting wage for about that amount of time, you’ve got a damn good chance and dare I say it you could well be on target to have enough money to produce your own film by the time you are 30.