I am genuinely humbled to be here on this platform. I am 33 years old Married with 5 children and recently retired from the US Army. For over 15 years I was under the thumb of someone in so many dynamic environments that I felt it was time to find a new journey that lets me spread my wings and fly. Something that gives me the opportunity to learn on my own and be in charge of the output of my work. My goal with learning the Forex market is simple Generate a passive income and network with all the leaders alike on this forum for mentorship. In retrospect to all of this being a father of 5 and married my military career kept me away from my family that has to end…Also this gives me the opportunity so that it gives me the cushion to pursue my passion in gaming and to have the ability to generate new paths in life. Thank you everyone that took the time to read this, I am looking forward to talking to all of you in the future =)
Construct a timescale plan from where you are now, and where you want to be, and what steps you need to take to achieve that.
Experiment as to what trader you want to be and what suits your lifestyle.
Learn how NOT TO LOSE MONEY. That means controlling risk and money management. Do NOT gamble your capital…
Emotional control is critical. Only real life experiences will help you learn, and it’s why most traders fail, because they don’t control their mindset.
33 is a young age to be retired, and it is totally understandable that you have the drive and the ambition to seek new paths for your future, and ones that include a family life.
I could also imagine that a long term in the army has taught you the importance of discipline, routines, strategic planning and patience, all of which are core necessities in trading. It will have also taught you the need to respect higher authority, which, in this case, will be the markets. The markets are always correct even though we will often disagree with them and even rebel against them in frustration! But humility before the “boss” and accepting whatever the markets are doing is essential.
Trading is a truly fascinating activity that offers just about anything that may take your interest such as international trade, economics, geographic regions, physical commodities, various indices, etc. Then there are the fundamental issues underlying instruments as well as the wide range of technical analysis techniques.
But trading is a profession just like any other and it requires a lot of study and work to develop the skills necessary to achieve consistent results. And there are no formal, systematic educational facilities for it. The course on this site is a good basic source and there many recommended books. A demo account is also the best way to start experimenting with various approaches without risking real money. And once you start to settle into a set strategy then open a live account and start trading with small sizes and grow from there upwards.
Its a fairly long journey, but the journey itself is part of the pleasure. Good luck!
33 years old is definitely very young to be retired from the US Army and unfortunate for the early dismissal. Fortunately with Army Retirement I am provided with a good cushion to be able to seek new ventures such as this.
I can’t even begin to describe all the life lessons and opportunities that the Army has taught me that I believe will help establish me in a position to learn, I don’t want it to all be in vein… However, I am just a dime a dozen and Forex gives zero thoughts if I win or fail what I did or who I am, this is something I am willing to learn and potentially teach to others…
Humility, fortitude, resilience and perseverance to keep adapting just of the many things I dealt with. This is a new chapter for me to experience these same emotions but in a different light / level.
I truly look forward to the journey it takes me and my family, the lid is raised i’m ready to fill it up!! Thank you for this comment!!
I’m sure it mustn’t have been easy, but forex is one trade that if done properly can prove to be a great income source. Had I been at your place, I’d start with pipsology first. While you do that, make a trading plan where you learn all about the currency pairs, the technical indicators, what analysis you should do, and a lot more.
You should spend some time with your family and what’s better if you can earn also. Forex trading won’t consume the whole of your day. But you have to learn about it first. You should be aware of the risks involved in trading and how important money management is.
You should spend some time with your family and what’s better if you can earn also. Forex trading won’t consume the whole of your day. But you have to learn about it first. You should be aware of the risks involved in trading and how important money management is.
But humility before the “boss” and accepting whatever the markets are doing is essential.