I’m 31 from Canada. Never really considered myself a money guy, I work in shipping and receiving but I’ve done a few baby trades, had some good and bad experiences and I’m looking to create a long-term second source of income with minimal maintenance. I understand it’ll take time and work but I want to do it right from the jump instead of floundering in this complicated world, so here I am!
Starting off with the right mindset! That’s great. At least you have realistic expectations and you know that forex is not really a get-rich-quick scheme. You mentioned that you’ve already put in a few baby trades. Did you do this on demo? Are you following a particular strategy right now? Anyway, welcooooome!
I did use a demo account for a few weeks. Well, I used several because I blew one by messing up lot size and another was set to $10, 000 which I didn’t find realistic and felt like I was cheating myself.
I started a live account after reading Jim Brown’s book “Forex Trading: The basics explained in simple terms” which was very helpful. At the end there was a link to a PDF explaining very simply how to make trades on a trend, which I used in combination with a collection of YouTubers explaining how to use MT4. In addition I have a personal friend who knows his way around Forex quite well whos been helping me understand and giving me insight to the trades he makes, some of these trades I take but with my own position size and risk (very low).