If you don’t care for nursing, do you have another area that interests you enough to pursue a degree in? If yes, go that route first. Trading will always be there. In fact, before undertaking studes oreven in tandem, you can spend a rather small amount of money to get an evaluation with a prop firm to see if you can be profitable. Many offer no time limit to reach the evaluation profit goal, so no pressure there. In addition, if you should pass the evaluation and get a funded account, then after you have successfully traded that for a “reasonable” number of trades such that you can be confident of remaining profitable, then you have some concrete evidence to present to your parents regarding trading.
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Here’s a bitter pill: Trading profitably becomes less stressful when you do not need the profits to pay the bills.
The less stress you have, the more advantageous position you’re in to execute better trades.
Trading eventually becomes 90% psychology and 10% technical.
Trade as a side income until you earn enough, and when you quit your full time job, diversify your income streams with other side incomes to complement your trading career, it really helps.
Hope this advice helps you out, and have a great weekend!
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My advice is follow your dreams and do what you are passionate about.
Passion is good in any job, but passion itself will not feed you.
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Hi Goddyawesome,
I believe that everyone should follow what they are passionate about.
If you are not passionate about nursing then you should not pursue it, because after spending all that money for nursing school, then taking the and passing the boards and landing a position as a nurse, you will soon be burnt out. I was a Post Partum Registered Nurse for 15 years and it was not a satisifing experience. Depending on the facility sometimes the nurse to patient ratio could be between 8 to 10 patients. Some patients can be very needy and demanding, and if you make a serious medication error you could potentially loose your Nursing License.
I am now retired and learing how to trade forex and at the same time showing my 21 year old grandson to do so as well. I started out taking manual trades but have since moved on to Expert Advisers on the Meta Trader 4 Platform. Some ot the Expert Advisers I purchased and some I created my self. So I do not have to stay in front of my computer all day.
Before you decide to go into trading full time there are certain things you must have. The most important one is a Trading Plan. You must also have a good understanding Risk/Money Management. Most importantly you must have the right Mind Set. Once those are in place you could potentially make money trading full time than you could ever make working as a nurse, and have the freedom to live the lifestyle you deserve.
I recommend you follow your passion!
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Depending on the country you live in, it is so much important to evaluate what that nursing degree will bring on to your table. Imagine being an unemployed graduate holding a degree you have never liked yourself.
However, I would advise you to be open and honest with your parents. Do not break their trust by secretly using their money for trading. That will dent your relationship for ever
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Stick to your nursing for now and do trading on the side. I landed an apprenticeship and I trade on the side best decision I’ve made. I’d finish your nursing secure that first and then do trading on the side
Choose a career you’re passionate about, and pursue Forex part-time. Forex doesn’t need a lot of capital when starting. You can use a paper trading/demo account to practice. Choose a pair you’d like to master and understand the market before investing in the market or a mentor.
I think you should have a back-up plan and nursing is a great career in many countries. You can use prop firms to get you started in Forex. maybe start by trading higher timeframes while studying? THe H4 should be manageable while studying/working.
After it really depends if you are already consistently profitable or not? If you are generating income on a consistent basis from your trading already then focus on that.
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If your parents gave you the money you might wanna talk to them and do another course that you’re passionate about. You can do that course or nursing while trading alongside education. You need to be consistent with your trading and making profit. I suggest you do swing trading to give you time for studies.
Trading is not a gamble like someone said it’s a business that you’ll have to build. Build yourself,mindset and be consistent and you will surprise your parents buying them a car before you finish your studies. After Uni you can hang your certificate to show your parents what your passionate can make you
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This is the key here. Being profitable and having capital. The timing of having both, simultaneously, might be the biggest issue in trading.
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In the context of this thread (i.e. trading as a full-time career), yes it is. If you do not have sufficient capital upfront to enable sufficiently large positions and cover drawdown periods, then you need to be earning enough to both finance your income needs as well as adding to your capital - that is a big challenge!!
But trading is not only about becoming a full-time trader. A big alternative is to use trading as a capital-builder. In other words, one has a job that provides the regular income and a trading account to build one’s wealth. This, I think, is by far the best approach and most likely to succeed long term. It removes so many pressures from trading.
It is interesting to look at many of the full-time traders who stream Youtubes. Whilst their main income is from trading, they inevitably are looking to diversify into other income forms such as advertising revenue, internet site sales of programs, merchandise, training, etc, writing books etc, etc, etc.
This tends to show that even long-term experienced full-time trainers do not want to rely 100% on their pure trading income. Even they want at least some kind of more regular income.
Trading alongside another regular job is not difficult, in fact it may be easier and more reliable since one is not drawn into impulsive trades and watching short-term timeframes, which everyone knows are far more erratic than longer timeframes.
The main problem with trading longer timeframes (say, longer than 4-hour) is the inevitable need for greater capital to cover the wider stops/targets distances. However, some brokers do allow small position sizes that alleviate this problem…
Just some thoughts! 
As someone who’s been trading forex for over 18yrs, I can honestly tell you that there’s no such thing as a “Forex Mentor”. You must learn it for yourself, and not spend money on “courses”, “memberships”, nor “mentors”. [:They’re most likely scams:] If you’re truly passionate about forex you must embrace the learning curve and it’s steep, won’t happen in 6 months to a year, it’ll most likely take you 2 years just to reach intermediate level depending on how quickly you learn, it may take less.
A. You can learn forex on the side on your spare time: It’s not necessary to drop a career altogether to learn it because if you can devote 2-3 hrs a day, that’s enough time.
B. Learn the basics first of course (a. What is Forex? b. What is a pip? c. What is a Session? d. What is Bid/Ask? e. What is a Trend? etc, and don’t try to expedite the learning process because you’ll just end up sucking at trading long term.
C. Then I recommend learning all Japanese Candlestick patterns after you’ve learned the basics.
D. From there learn all 11+ “Major Chart Patterns”.
E. From there, learn Market Exhaustion.
Combine all this knowledge and master it and now you’re intermediate level.
F. Learn Price Action and Technical Analysis, and Risk Management
G. Open a Demo account and start trading fake money for 2 years while still learning more advanced concepts. Why? This will teach you how to lose, and how it feels. Eventually, you’ll learn how to master your emotions. And yes, I do want you to lose because you won’t know how to win unless you learned how to lose. [Every trade you lose, write down the reason to why it lost.]
H. Never use “Indicators” zero! and I mean not even 1. Regardless of anyone recommending them. Never use them. Why? Because you must learn to rely on yourself at all times in any situation you face in the market. If you’re not self sufficient, then you’re not a true trader.
Combine all of this knowledge and you’re now considered: “Better” not “Advanced”. You’re literally now at the level to where you can make decisions on your own, and see set-ups in the market finally.
I. Open a small account of $250 and trade the smallest lot size per every trade. Preferably, a nano lot.
If you approach Forex in this manner, the learning curve will be shortened drastically, and eventually, you’ll formulate your own personal trading strategy. Never trade anyone else’s trading strategy. Rather allow your accumulated knowledge to naturally formulate your own. [Again, you must rely on yourself].
Do all of these things, and you’ll see profits and eventually never have to work a career again. If you violate any of these concepts or recommendations then you’ll suck like 90% of retail traders do, and I’m just being completely honest per my experience.
Completely agree on this point.
This is smart on their parts. Diversification away from 100% relying on forex trading.
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Retail Forex is gambling. Gamblers can be profitable for one day, maybe even a week, or they bet 1% (risk 1% per trade) and extend it as long as possible but will always lose to the house edge in the long run. If it was that easy to look at historical prices and profit, anyone with eyes and a thumb would be rich… or at least half?
‘BabyPips’ promotes Forex gambling, which attracts new (young) online gamblers, then teaches gamblers to play the game by engraining the rules of it in them, calling the course… something cute like ‘School of Pipology’. Reason why BabyPips’s owners aren’t traders… but they’ll promote trading. There’s more money and consistent money to be made outside of trading than there is in trading.
last year I earned 18.7% my journal is available here My journal - Greg Pawlak
I repeating it again, If you’re not profitable as a retail trader it doesn’t mean other traders could not be profitable
Quant trading is the way to go. To think we know where price is going with more certainty than basic probabilities is futile. This group of websites wont teach that.
I’ll be starting a 4-EA portfolio next month, adding more as it grows. All non-correlating returns. If annual return > max. drawdown, then itll be profitable mkre times than not.
edit: annual return x 2 > max DD.
oh now you changed your mind… you have still so much to learn
haha thank you, “profesor”. Risk-free returns with 0 drawdown are at 5% a year right now. That’s the benchmark.
Don’t use profesor in qoute, it is only a registered brand name. Before you say something think twice, if you think, you are better than me, that’s ok, you can think what you want, now is the time to show BP community your knowledge, skills and live results if you have any.