Is forex trading the right investment for me?

[kakashi123]

Hello,

I hope I don't annoy you but I thought I should ask if forex trading is the right choice for me before I start to learn it . I am still a pupil but playing semiproffessional poker for around 150$ an hour. Because I still live at home I am able to save a large percantage of my loan. Is forextrading the right choice or should I consider an other form of investment?
Thank you

[dzver]

Originally Posted by kakashi123

Hello,

I hope I don't annoy you but I thought I should ask if forex trading is the right choice for me before I start to learn it . I am still a pupil but playing semiproffessional poker for around 150$ an hour. Because I still live at home I am able to save a large percantage of my loan. Is forextrading the right choice or should I consider an other form of investment?
Thank you

Hello kakashi123

I wish to tell you my humble opinion.No one can tell you is that "game" for you or not.Only person that could help you is ... you.Like every job at wolrd Forex have a advantages and disadvantages and you have to decide by your self is advantages are strong enought for you and is disadvantages are aceptable for you.
I highly recomend you to read this: http://www.babypips.com/school/top_s..._business.html
and this :
http://www.babypips.com/school/prote...k_yo_self.html
there are metioned things that may help you.

Regards

Vladimir.

[topgun]

I don't even consider FX and investement unless you plan on being a long term trader. I would take the time to go through the whole school and by the time you finish it you will know if FX is for you or not.

Originally Posted by kakashi123

Hello,

I hope I don't annoy you but I thought I should ask if forex trading is the right choice for me before I start to learn it . I am still a pupil but playing semiproffessional poker for around 150$ an hour. Because I still live at home I am able to save a large percantage of my loan. Is forextrading the right choice or should I consider an other form of investment?
Thank you

[pipbull]

I agree with you 100% topgun.

In fact, i just had a friend who asked me if he should get into FOREX. My answer was that i didn't know. Then i referred him to babypips.

Honestly, after reading through all the lessons you should have a good idea if FOREX or trading in general is for you, or if you are even inclined given the amount of commitment becoming successful will take.

Start educating yourself and it will become apparent

[rhodytrader]

Originally Posted by topgun_68

I don't even consider FX and investement unless you plan on being a long term trader. I would take the time to go through the whole school and by the time you finish it you will know if FX is for you or not.

Speaking as a sometimes long-term trader, I wouldn't even consider that an investment. Of course there could be an extremely long debate here as to the difference between the meaning of "trading" vs "investing".

[dzver]

Originally Posted by rhodytrader

Speaking as a sometimes long-term trader, I wouldn't even consider that an investment. Of course there could be an extremely long debate here as to the difference between the meaning of "trading" vs "investing".

Xe xe

That's why i prefer to call it "making a money" When a short term traders put money in their FX acount they are invest right ? Basically this look to me like question wich come first ? Egg or a Chicken ?

Regards

Vladimir.

[rhodytrader]

Originally Posted by dzver

When a short term traders put money in their FX acount they are invest right ?

I don't call that investing. That's just moving money around. By itself, having cash in a forex account doesn't do anything.

[dzver]

Originally Posted by rhodytrader

I don't call that investing. That's just moving money around. By itself, having cash in a forex account doesn't do anything.

Yup having money in a FX acount dosen't do anything.Same as having money in a pocket.But purpose of money at my pocket and money at my FX acount is quite difren't right ? Money in my poket suppose to go away from me and money in my FX acount suppose to bring me more money.
How should we call money that i put in somthing wich i intend to bring me more money ? /cheer

Regards

Vladimir.

[ramrocket]

Originally Posted by dzver

How should we call money that i put in somthing wich i intend to bring me more money ? /cheer

Regards

Vladimir.

You can call that a deposit much like you deposit money in your checking account - the interest rate return is petiful or nil.

Warren Buffett investment rules:
Rule #1. Don't lose money.
Rule #2. Don't forget rule #1.

Obiously, there is no way around #1. Its just part of the business that we are going to lose money in our trades.

When your money makes money and have a + cash flow then that is what I call investment. In this business money is not the only thing involved in your investment. Your Education is more critical than money.

FX Investment = Education + Skills + Money

then we all get rich!

[seihes]

I have to disagree with two things in this thread. first of all, going through the whole school isn't enough to know if "forex is the right investment for me". I did it. And I feel I still have to demo trade, back test a trading plan with historical data, and eventually try with a small amount of money (hopefully 5k).

Then, we don't all get rich. People have to lose money for other people to earn it. I'd be very careful on this regard when choosing a broker (cf. stop hunting).

We could move the "investment or making money" to another thread. I think it is irrelevant to the original question.