Hello,
Instead of looking for another teaching position. Im looking to open a Forex account with the money I saved up while I was a teacher. My goal is to be Forex trader full time. I am currently learning to be pattern trader. I’m from Chicago and currently have a demo account with FXCM
Do yourself & your family a huge favor & sprint back to teaching as fast as your feet will carry you & don’t look back. Failing that, send your resume to your broker & see if they’re hiring!
It’s a one-sided relationship in which FXCM controls.
Welcome…Castemarck
There is definitely more money to be made in becoming a referring broker or money manager than in trading just for yourself –
I hope you succeed in trading – but have a backup plan and make sure you don’t blow all of your savings on this!
Hello and welcome to our forex community! Glad to know that you’re practicing with a demo account first before risking your savings on a live account. I do hope you’re able to work your way towards achieving consistent profitability especially if you’re looking to rely on forex trading as your main source of income.
As the other forum folks said, it’s helpful to have a back up plan just in case things don’t go so well and I don’t recommend putting all your savings in a live account. Best of luck to you!
Hi there! Forex is pretty high risk so it’s always hard to hear that someone else’s primary goal is to do forex full time but good luck! Hopefully you’ll learn quickly
Prepare yourself for a 2-10 year study on becoming a [B][U]consistent[/U][/B] profitable trader.
If your savings at this point can not keep you alive (mortgage, food etc.) for at least 2-3 years, don’t start learning trading, and start getting a job.
Trading is not a “get rich quick scheme”.
good luck!
I agree with Dutchtrader 100%. You should only trade with risk capital, which is money you can afford to lose and that is not required for your living expenses.
It’s great to have a goal of trading forex full time, but it’s important not to underestimate the time and resources it can take for you to reach that point.
Starting on a demo is a good first step, because it allows you to learn without risking real money. If you have questions about your demo, please feel free to ask me in the Broker Aid Station.
Welcome to BabyPips! 