Great place to start

Community Introduce Yourself
1

Hello everyone! I’m Clay, 61 yrs old, East Coast USA and halfway through the School of Pipsology.
After working my whole life at a J.O.B. i’m realizing that I have little left to retire on. Always having the heart of, but never the means to, become an entrepreneur, I began looking at Forex trading as a way to supplement Social Security and provide me with additional options. Like what to do when I don’t work the J.O.B. anymore. Honestly I’d love to see it grow into a thing, you know? Be able to live like I want, help the kids, not fooling myself thinking I’m gonna get rich though.

So I’m starting out slow, reading and re-reading the School as well as other material on the Forex. I just set up a demo account at Forex.com and spend time staring at charts, trying to decipher it all. I’m slowly building a savings account to open my live account with down the road. Since for the next five years or so my available trading time is in the evenings (7pm-11pm EST) I’m looking at currency pairs in the Asian Market, particularly AUD/USD and NZD/USD since it appears those pairs have more volativity during those times. I’m reading Huck’s posts as it seems she spends a lot of time in the same markets.

My question is, am I doing the right things to befit my situation, in your experience, or should I look at other markets, or steer clear of trading altogether? I feel like the proverbial deer in the headlights right now, but this is exciting and I want in.

2

First of all, don’t ever doubt yourself. There are plenty of people across the world that are making a living off of Forex, people that have quit their jobs. So, you can do whatever and be whoever you want to be as long as you put in the work. I currently work a 9to5, and am constantly studying and practicing every chance I get. That means a lot of late nights and early mornings, and a homebody on weekends, loss of friends, loneliness. It’s a lot of sacrifices, but it’s worth it.

My suggestion is to go through the School of Pips first, then focus on maybe one or two pairs starting out, preferably major pairs. There’s no rush, take your time, and be patient. Patience is extremely important in this industry. Make sure your mind is in the right place before anything else. I believe in you

3

Clay, Pipsology is great and the forums are also.
I would suggest trading in a sandbox until you are consistently profitable.
Keep a journal of your trading as you will need it to review your trading objectively for improvement.