A noob-ish question

Hello all,

I’m fairly new to forex, I’ve searched around the site a bit, but I definitely have more exploring to do.

I have a question that I’m hoping I can get some opinions on.

I’m a 24 year old single guy, no kids, no one really to take care of but myself, and as such my living expenses are fairly low. I live very comfortably on 2k a month, and am still able to put away a few hunded into savings. This also seems to be a big advatage, as it allows me to take risks without worrying about others.

I’ve given myself a time frame of one year to be able to trade from home making at least 2k a month, the same monthly income as I have now.

Is this a reasonable, achievable goal to have?

I know there are all sorts factors that this would heavily depend on, such as proper education, creating a proper trading plan and having the discipline to stick to it, as well as proper money management skills, how much money I have to begin investing, to name a few.

But I mean, given the proper education, and all the rest, is this something I can do in a year’s time or less? Or is it too ambitious? I am fully aware that this business is not a get-rich-quick-scheme, I’d just like to take away my tiny slice of the pie. =)

I look forward to the responses. Thanks for your time, and a huge thanks to the people that run this site. It’s amazing. =)

Regards,
C.

sure you can do it

if you find a use the right system

it only took me three years to become profitable, but i was doing it in a time when hardly anyone knew anything about forex trading

if i would have know then what I know now i’d be a billionaire.

What your asking can be feasibly done.

Not like many newbie questions that come on here saying
"hey I found this ea and a few hundred bucks, how long to my first million".:smiley:

Welcome, I look forward to hearing more from you.:slight_smile:

Well, this certainly gives me a bit of hope.

There’s so much hype out there surrounding forex, I’m glad I found this place. I was very impressed to learn of the abundance of information here, and especially that it is all for free.

Thanks for the welcome mytwopips. =)

Curien

It is finally nice to hear from a new trader who does not mind putting in the time. Most new traders have this insane fear that getting rich is going to take more than a month or two. haha.

Will it get you rich? Yes
Will it get you rich overnight? No
Will it get you rich faster than your day job? Yes

Hang in there buddy, you will get discouraged a few times, but eventually you will remember that its not all about indicators and systems but about being a trader, and being a trader comes from inside you.

A journey of a thousand miles begins with a single step.

Happy pipping.

Check out my daily analysis on by blog: benjaminlfx’s posterous - Home

Thanks for the words of encouragement GBLilleyUSMC.

I’ve been cautious about telling people that I know about my plan for fear that they’ll just shoot me down, telling me I can’t do it. Although, in a way, them telling me I can’t do it just makes me want to do it that much more.

But even though, it’s nice to be among people who are supportive. =)

Welcome to BP, Curien - as GB said, it’s great to hear from an aspiring trading who doesn’t only want but expect riches to be handed to them with no education or consistent effort.

Btw, GB: I checked in our your blog and happened to notice that the text in the “the indicators I use” post is duplicated. Also, read over the piece about the 200 EMA - I think you meant to mention a different moving average there because you’ve listed 200 EMA twice. Other than that, I’ll be stopping in to check there from time to time. :slight_smile:

I took 3 years to become profitable too. So I advise you to have a full time job and trade part time first.

Welcome Curien, my daughter has the same goal, to replace her current income within 1-2 years. It won’t always be easy, it will take time, effort, study, and above all patience & self discipline, but it is VERY achievable and IMHO the “world’s best job” so well worth the effort to achieve it :slight_smile:

You’ll also find out a lot about yourself along the way…

Two things (well, three)
Never give up
Don’t listen to the nay-sayers
Stick with BabyPips … everything you need to know is right here :wink:

Good luck to a future millionaire!

Hiyo,

I just wanted to swing by again to say thank you for the awesome responses. It’s got me even more motivated to dig in and get to work.

I’m gonna go wander around the forums a bit and let the other newbies have their time now. =)

Regards,
Curien

You’ll be beaten up couple of times along the way but hang in there. You’ll make it.

Good luck.