I’m 23 and looking for ways to diversify my income. Currently my main income comes from my parents and a part time job that’s a little over minimum wage here. I do have skills (programming) that could lead to me making a lot more money in the future but I’m still working on marketing myself correctly to attain a good income. I hope to be in a better place this time next year.
Like many others, I heard Forex trading is a good way I could earn a decent amount of money without much starting income. I’m here for the long haul. I don’t expect to be good until at least a year of practice.
Hey PudgyShark! Welcome. If I were you, I would concentrate a majority of my effort on landing a programming job so that you get a decent income stream going. It might be some time before you can learn to trade profitably and even longer before you can earn a living off of it. Besides, you will need funds for your trading account and you can begin accumulating that, while you learn how to trade, if you have a good paying job.
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Welcome, fellow Canadian!
BabyPips has an excellent educational website called School of Pipsology. There’s a lot of info there so you might want to open up a demo account through a reputable broker and practice as you learn. After all, the best way to learn is by doing.
Also, we are all here to help answer any questions you might have
Good Luck!
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Hi! Thanks for the encouragement and advice.
What are some good places to practice FOREX (paper) trading long term? Most demo accounts only last 30 - 90 days.
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Thanks. Have already started to accumulate funds for real time trading in the future.
Get a demo with Oanda. It never expires I believe. But, if required, open an account with them with the minimum funds required but don’t trade that account until you are profitable on the demo.
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OANDA would be a good place to start. With them you have your choice of platforms such as MT4 and Tradingview. I never much cared for their platform, but you might think differently.
i think you already got the answer , its a very common suggestion for all newcomers , start with pips school and choose a broker which is more appropriate for you. that all.
Welcome pudgy-shark! Even if you hadn’t mentioned it, I would have suggested Forex trading to you. But before making any big investments, make sure that you go through good educational material and practice with a demo account.
Hello and welcome pudgyshark! How is it going? Open a demo account as you go through the School so you can understand the concepts better. Good luck and see you around!