Hello Everyone,
I’m a 24 year old male from Ohio.
I’m completely new to forex. I haven’t really read much of the school section of this website, But I do plan to read and re-read all of the school here.
As far as I have read in the school section, I have noted that I should practice on a demo account for at least six months before I go live.
After I practice for six months, if I feel ready… I plan to open an account with 5k to 10k (more likely 5k).
I don’t plan on getting rich and I do plan on working and studying hard. I have at least 20 hours a week I can devote to forex.
If I could double my money in a year I would be happy.
I pretty much work for myself as it is. I make anywhere from 20 to 30k a year just doing what I do now.
I really can’t afford to lose 5k but I would not be homeless , foodless or pennyless.
My goal is to make 500 a week with a starting balance of 5k.
I have a couple of questions and would be grateful if any experienced traders could help answer them for me.
Is a weekly 10% return on my money possible? If not what, about 5%? Or even 4% lol
What can I realistically expect if I devote 6 months of my time learning and practicing and then opening an account with a balance of 5k and devoting as much as 40 hours a week indefinitely?
Is there anyone here that started a year ago with a small account balance and is experiencing any kind of success in forex? And if yes, can you please share with me?
I am a much disciplined person. I’m willing to devote as much time as possible learning and applying the skills necessary to become successful in this market.
I consider myself to be sorta smart. I dropped out of school in the sixth grade and have always managed to keep my head above water. I’m self educated; most people I meet assume I have a higher education.
When I was 18 I had an accident that rendered me physically disabled. I refuse to live off of the state and collect disability. I’m just not the type of person to take a hand out, but I also don’t look down on people who can’t see any other choice.
I’m disabled to the point where I can’t do manual labor. I’m sharp enough to do the books for a multimillion dollar business (I do it for a friend), but I don’t have the piece of paper that people know and trust as proof that I’m qualified.
I’m young and the only thing I have to lose is time and a little money. I really could use all of the help and pointers that I can get. And I promise you any time you can give me is not a waste. It is an investment.
Oooohhh I forgot this 10:1 leverage proposal scares me. Should it?
Thanks,
Matt