Hello everyone, my name is Jose Padilla Negron, I am 42 years old and I am an absolute newbie to forex. I didn’t know anything about forex until a, Army friend of mine told me about it. Well, by saying that, yes I was in the military for 14 years, I decided to get out when I broke my ankle. I am basically wanting to try something completely new to me, something that I can try to invest towards my future, I no longer want to work a 9-5, I want that financial freedom when I turn 65 for me and my family.
Welcome. If you can stick it out learning until you retire you might become consistently profitable and in the 20% group of successful traders. Unfortunately the other 80% are not, most lose their capital, especially newbies. How long did it take you to become proficient in the military? Forex trading is comparable.
This is a FREE education site. You could learn to trade properly, and be prepared to put in the hard work, but please open a demo account first, before risking your money on a live account.
There are two key factors for Forex success. Risk and Money Management, and Emotional control. I suggest your time in the military will be a huge advantage in controlling emotions when trades go tits up.
‘Fear of pain’ is the toughest to control, therefore you need to work out how you can handle it.
Best of luck.
Welcome welcome Jose! Forex can be complicated and challenging but I hope you’re really determined to make it. There will be lots of challenges but maybe if you need to ask for advice, we’ll try to be there!
Thank you for the welcome, I know that this may sound like a stupid question, but how can I start a demo account and where? Like I said in my intro I am completely new to this I’m straight Day 1.
Thank you I appreciate the welcome and the words of encouragement. I will definitely ask lots of questions because this is something new for me, I know nothing, I’m Day 1.
Welcome to the community, Jose. Start with the education section here. Then open a demo account to practice. Good luck.
Internet Google. Look for best forex brokers, than read the reviews and choose one. Brokers would fall over backwards to let you open a demo account.
Try IC markets global, they’re excellent with not putting any restriction or time limit on how long you test out on their demo accounts, and they will provide you with a daily trade history.