I need help too

i have studied the forex for a bit and i still don’t feel comfortable trading. are there any links you can send me to help me learn more to increase my odds in this market? i am starting bible school in a couple of days and i will not be able to work a regular job because of the hours required of me and on top of that, i have full custody of my seven year old daughter. the forex is the most logical decision that i have come up with to make ends meet. please help any way you can. thank you.


forex is not the easiest thing you can choose to do as a beginner you’ve already chosen to put huge amounts of pressure on yourself.

My initial advice to you is this,

  1. Take things nice and slow

  2. Make sure you have a trading plan, and backtest it and backtest it some more, and then demo trade it for several months. Dont think that you are wasting time, you are testing out your business plan. This will save you money in the long run.

  3. When you do go live dont jump into the deep end, take it slow with small amounts.


Have you gone through the babypips school?

It’s grrreat!

I’ve seen it said several times throughout the forums that Forex is not for people who “need” the money. What if a few trades go against you and you don’t have a job, but you’re relying on this for income. You will feel undue pressure and most likely make hasty decisions.

Food for thought.

well, i plan to start out working a regular job and i am only going to invest $250 to start. i can’t afford a large sum, but i think this will be enough to start with and to see where i can go from there. i am just not going to be able to work full time for long. going to school and being a single father will be very demanding on my time. i am going to learn everything i can now and work for as long as my body can. thank you for your input. i am in the babypip school as well as reading some books. forex.com also offers a class once i sign up for a real account, but that won’t be for a while. $250 is alot for somebody in my position and i can’t afford to waste it on hasty decisions. thanks again.

I don’t think it’s wise for you to invest money that means a lot to you. If $250 is something you can’t or don’t want to lose, then don’t invest it into forex.

Either start with an amount that doesn’t matter to you, or save up your money at home until that $250 is something you don’t need in your life and could do away with if it came down to that.

Odds are this is something you don’t want to hear, and probably want to reject. But I assure you, your decisions will be a lot more difficult and heavier if you’re playing with scared money.

And I recommend Oanda as a broker. You can start an account with a penny if you wanted to.

take the advice of mastergunner guy. Even if it seems hard to believe now, since your already relying on a profession you obviously havn’t spent a considerable amount of time in first…by “considerable amount of time”, I mean reading and studying different kinds of material on currencies and a bit on other financial markets.

You need a foundation before you even open your first demo, and some general knowledge on technicals and fundies before you consider testing a strategy, and a good tested strategy before you even THINK about opening a live account…all which will cost many hours/days/weeks/months and yes, years. Of course, relative to the time you have to devote to this and your determination to succeed.

This is real baby, there are no shortcuts, but trust…it’s a very rewarding career that can give you the very comfortable lifestyle you desire. When you get there however, try not to over do it :wink:

best of luck to you and your family