Hey there. I am Mason Kista . I have failed at trading in 2016 and I am back after the many years revamped and getting closer to my own personal goals or pot of gold.
Welcome to the community. Hope you have been introduced correctly. Successful trading requires skills, knowledge and experience. There is no short cut and it takes a long time to be skilled. If you have been told otherwise, you were misinformed.
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Hi there, and welcome back to Forex trading. In my opinion this is the best source of truthful and valid information in the world - and I am now back in trading for the fourth time in my life. You will be far more cautious and far more likely to succeed now that in 2016.
I’d start by saying “I traded in 2016 and was not able to continue profitably”. I do not think there is any such thing as failure. When you start to study all over again it will be with the advantage of experience, and you will not make the same mistakes as before.
I would be interested to know what happened to you in 2016 that led to you being away for 5 years. And to let us know what it is you wish to achieve by spending your time on Forex or trading, and the reason you wish to use Forex trading as the option to achieve your goals (for example, instead of working part time in another job or doing further education to improve the value of your time).
It’s always a good start to have goals and objectives before you consider how to achieve them.
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Totally agree with you. Here in South Africa and probably around the world I see this 3 month course, 1 week course, 3 day course. They claim one will be a trader after it.
It’s the most frustrating thing to see. The always selling courses, signals etc.
I hate it in my whole body. Massive misleading information in the forex trading community.
But I read babypips article about 80% of losing investors. Even before that I read another article with the broker names and losing investors. Horribly high. Roughly 75% losing.
That also means the brokers are killing it or making great returns. You probably read that that some of them brokers are trading volumes in 1 trillion USD.
These brokers too a responsible for the misleading information. They partner with forex salesmen or women who potray the glamorous rich lifestyle but make their money from signals and courses and NOT TRADING.
I was honestly struggling with finding a job. I have a Electrical engineering degree and could not find a full time graduate position or job that challenge me.
I was doing mostly part time after graduating in 2015. From 2016 I stopped trading due to the pain of losing and under preparation.
I still learnt from YouTube as trading with Rayner, akil stokes, Jason Graystone etc are helpful. Whoever says one can’t learn from YouTube is not practicing what they learn.
In 2019 the company I worked for about 18 months liquidated. I honestly never like working for them as there was no challenge. Started doing testing and am still doing testing, learning etc.
I am a registered startup business in South Africa trading as UPW CAPITAL Pty ltd.
Now my vision is to teach whatever I learn, help with scams as I have seen allot BS from 2016 and expand as a startup company. I also want to reduce misleading information from any forex trading mentors.
I sympathize. In 1978 I graduated from Imperial College London with a BSc Hon in Electrical and Electronic engineering. I had a job to go to at one of the UK Defence contractors, and the starting wage was less than I had earned as a labourer on a building site during my university breaks.
It helped me a lot that my parents had emigrated to Australia when I was a boy, and brought me back to the UK before I matriculated. I was not afraid to travel. I had sailed around the world before the age of 17.
So when I graduated I interviewed for a job in the oil business, and luckily got the job. I was off for training in the Sumatran jungle for 14 weeks, followed by a job that paid 7X my UK salary. I was in the right place a the right time.
I tell this story because it may help you as a young graduated Electrical Engineer. Over the years I became involved in IT during the 1980s and spent the last 20 years as a self employed project management contractor. I rarely used my electrical or electronic core skills, but it sure was helpful when IT came along.
You will have heard about crypto currencies. What you may not know is that a good grounding in IT is a natural segway into crypto, and so is a strong appreciation of reward / risk in Forex that will help in understanding crypto.
During 2021 I have not made a conscious “Forex trade” in the conventional sense, but I at the macro level I have benefitted from the strong USD this year, and about 50 trades in crypto currencies, all unleveraged.
So continue with the Forex education, but also look into crypto subjects such as DAO, DeFi, NFTs, gaming. 10% of our crypto portfolio dedicated to these areas from 1Nov21 has grown into 21% of our portfolio, with half of that being attributable to NFT income.
Welcome back, again. Do an internet search on Axie Infinity (not a recommendation, but for background) to see how thousands of Philippinos and Phillipinas left their jobs because (temporarily) they were earning more money from play to earn games than their semi professional jobs were paying. South Africa is probably another use case similar to the Philippines. In the conventional “corporate control” society of today, shortly to disappear, there is a complete abuse and under-employment of over-qualified young people as a result of the greed of corporations, ineptitude of governments and elevation of educational institutes to Gods and Goddesses of the world. But they didn’t figure out how clever those new 20 year olds were going to be in the rapid creation of Web 3.0. Most people over 35 just don’t get it. Yet. Be one of the first. As an engineer, it will probably take you about less than an hour to understand how our fragile world is transforming into the Metaverse.
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Great to chat to an engineer. I have heard about NFT. Will definitely look into it.
I hope you have a great 2022.
Hi Mason. Welcome to the community! Being successful in Forex trading takes a lot of work and dedication. All the best
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Welcome to the community, Mason. Wishing you all the best with your trading journey.
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That sounds more than reasonable!
Mason, Hi there! Welcome to the community of traders! Consistency as a trader, is what is required from you to be a successful trader.
Best wishes
This makes me believe in forex trading more than ever. Getting back to it after a while is surely a great decision. I am quite sure that you would be doing great at it by now.
Welcome. Good job coming back and giving it another go - before going live again make sure you are profitable on a demo account. Nail down a strategy and you’ll be cool.
How is it going for you? I hope the return was stupendous. Do share your experience for us to learn from it.