A new journey begins

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1

Hello everyone,

After a leap of absence over here due to building up my automotive wholesale business, I have a new project of leaving Canada to travel Europe. I am planning on leaving in one year or so. To finance my tour, I will continue to run my business remotely, since everything can be done online with auctions, transport, dealers, etc. Although all my strategy is set up, I also want a second alternative to continue building my capital and reinvest for bigger returns. Since I started working at 17, I lived in a small appartment, didn’t smoke or drink, and put all my money aside for the bigger projects, having close to 50,000CAD now. The first year will be spent in Romania, where the cost of living will be approx 12,000 CAD. I was thinking of using 10,000 CAD of my money to invest in forex. I am actually hoping for a 10% annual return and and gain the experience to be confident enough to invest more.

What I want to know is the best platform to start with and what good books could be interesting to read. Thank you for your support.

2

Take 9,000 and set that aside- pick up some CORP bonds in the CAD utilities space (telco’s).
You’ll want to hold onto those for 15-20 mo @ a minimum.

During that 15-20 mo period, the remaining 1,000 will be your “learning capital”.

Demo trade for 30-60 days to get the hang of a platform and a feel for the markets.
Fund an account w/ 100. Trade that until it’s gone. Try different strategies.
About 6mo in, you’ll know whether or not trading is something you want to keep doing.

6-12 mo - pop another 200-300 in the account. Keep trading.
If you can make it 18mo, and you still have the 1,000 left- you’re in great shape.

Realize, that most folks new to trading TYPICALLY fall under 1 of the 2 “broke” camps within “the first year”:

  1. Broke
  2. Broke-even

Good luck out there. Reading will get you far, but, trading is what really allows you to pullback the curtain on yourself. The only enemy you have in trading, is yourself. You’re prob a pretty smart guy, so, you’re in for a challenge.

Jake

3

Good to have you!