Hey, I’m a 22 year entrepreneur, trying to pave a way to financial freedom, I’m looking to have multiple streams of income. I’m really hoping this course helps
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Hi and welcome to Babypips. Is this your first potential stream of income or which one? When I were your a few years younger than you, I was going to be a millionaire by the time I was 40. To be brutally honest, at that time, one terraced house in the UK cost about £3,000, so I would need to own about 300 of them by now (£37.5M!) That’s inflation for you. The reason I ask is because I have this standing joke with my brother for nearly 5 decades on “get rich quick” schemes that I used to call GRQ1, GRQ2, etc. Since 15 years ago, I started to call them GRS1, GRS2, etc (for get rich slow schemes). Forex is my GRS15, we have / have had four income streams at best, but war, Covid, lack of focus have reduced those to 2 1/2. Please don’t ask me what 1/2 of a GRS scheme is - it’s a bit like trying to figure your your edge when you are trading…
Anyway, I always say "don’t quit the day job just yet, but I have found Forex and trading fascinating for over 20 years, and time has not dulled my interest in the subject matter. This is a great forum with many talented members who can guide you through the swamp.
I discourage people not to refer to FX trading as an income source, because it’s not. The correct interpretation is that money could be made from a speculative venture, but that money, unlike income from working as a garbage truck driver, is never, ever guaranteed - and in reality, until you possess proficient and consistent skills you’re actually at risk of losing money.
Maybe splitting hairs in today’s environment when, sadly, jobs are also not guaranteed, but hopefully you get the picture.
Hello and welcome to the community. To make money by forex trading, one needs to develop chart analysis skills and skills to control his mind and keep calm and take rational decision. It takes time to develop those skills. Keep learning.