I’m so glad I have found this place. I always wanted to be a trader, but life kind of got in the middle but never is too late to chase your dreams. I am in my mid 40’s in an 8-5 job, and two beautiful kids, with no time to enjoy being with them. Yes, this is my motivation, is not Money, is to be able to win back my time and do something that I enjoy. I have been studying for almost six months technical analysis and trying not to be scammed along the way.
I understand this is not a get rich quick thing, I am willing to put the extra effort to achieve my goal. There is so much in the line that I want to do it right.
I’m starting my Demo account next week, and I was planning to paper trade for at least six months to come with my plan, and test it. I have seen sooooo many videos that I have to admit that I am a little confuse with an overload of information. Unfortunately, I have little to offer right now since my expertise is on Corporate Financial Analisis, but I hope with more time, I can give what I have taken from this magnificent community.
If you can go back in time five years, what will you say to yourself?
Again, thank you to those willing to share their knowledge.
I do apologize for my English; I’m also working on it.
Hi and welcome. Your English is great, no concerns there for you
Spend some time at the free school here and open a demo account to practice what you learn. Look for a broker regulated in your home country, avoid Cyprus or Caribbean based brokers.
Be wary of anyone offering shortcuts, they’re usually scammers. Likewise be aware that you need to come up with a way of trading that suits you, your lifestyle, your mentality, and your comfort levels. Don’t let others on here bully you into following their thinking just because they are more experienced
Hi @ForexMago! Welcome to the community! Good thing you got to read through the school. It’s really helpful for newbies like us! I even bookmarked some of the lessons. Lol. I look back every now and then. I think it’s so sweet that you want to make more time for your kids and I really do hope you succeed!
I think you have already started giving back by sharing your story with us. I really hope you take us with you along the way!
Yes I am taking the BabyPips University (feeling young again hehe)…I am right now in the Fibonacci explanation. Even though I know it (since I have been watching videos for some time), I decided to make the full course here at BabyPips since the videos I have been watching, are not in a sequence, therefore has been a little challenging to follow.
So far I have encountered BabyPips to be very helpful since they take you step by step, and in the right way!
Good Idea about bookmarking some pages, I will start doing that. I have been creating my own PDF with notes so that I can refer to them later and by reading and then writing, I think It can help to reinforce the lesson.
Yes, I will recover my time, I will be my own boss once again. This time is my time, I tried before, but I was too young to understand that sometimes the good things require patience. Also, I found having a “support” group could be very beneficial for this lonely but exciting way of life.
On the second point is where I am struggling with how to start. Definitely, I need to start as a Swing trader (due to the 8 to 5). However, I would also like to start practicing day trade (actually night trade for me hehe) . I can tell by now, that they imply different strategies and different analysis, but I will need to try them both.
I appreciate your efforts of learning in the 40s. Most people become lazy in the age. Yes you are right internet is overflown with information. I would suggest you to read the following books if it is possible for you. The Disciplined Trader by Mark Douglas and Millionaire Traders: How Everyday People Are Beating Wall Street at Its Own Game [ Kathy Lien, Boris Schlossberg].
Funny that you mentioned Mark Douglas, I actually bought a book yesterday: Trading in The Zone.
I just added The Disciplines Trader to my wish list. Would the other book apply to the Forex market as well?
Welcome @ForexMago and it’s all about being truly happy and having the freedom to do whatever you want, when you want…money and all the other stuff is a plus
Yes. Trading in the zone is another masterpiece. Trading In The Zone and The Disciplined Trader will help you to shape your trading psychology. In trading mind plays a big part. Wish you a happy journey.
I 100% agree with you. is not like I am rich, but I’m really want to do it to spend more time with the family. I have 8-5 and wife works on the weekends, therefore family time is none. That’s my motivation!! 11pm on a Saturday and i think it was an 8hours day studying. I feel like in college .
Ok so after a week of reading and videos, decided to try my first paper trade. Downloaded Metatrader5 did my homework etc., lines everywhere (over analysis took me like 30 minutes 1 chart hahaha), etc, and decided that I was going to place my first trade. Sell Stop for next opening date, I know the market is closed, but even though I’m sel “pending order”, I can’t place the trade and I am getting the message Market is closed. So, I can’t place those type of orders? I am planning on Swing trading, I can’t place orders when the market is open due to my job, so?? Am I doing something wrong, or definitely I would not be able to trade forex ?
You can place your orders 24/5, its only the weekend when you can’t.
Now you’ve done the analysis and know what trades you want to place, try again when the market reopens tonight
Thanks Eddie. So,would I be able to place a USD/CAD on a Sunday Night? For the openning of the next day? What about a monday night? I was planning on placing orders around 8pm PT
You will be able to place when the Asian market opens, not sure how that relates with PT as im UK based myself.
After that, markets remain open until the close of the us market on Friday
Yes I get it now. Sincr all markets trades the pairs, I just need to wait until there is one open (in my case sunday afternoon) after that there is always one open until friday afternoon.
Welcome to the community! 
Good thing you got to read through the school. It’s really helpful for newbies like us! 