My name is Mason, I’m 21 years old, my whole life I’ve lived poor, my family being in multiple thousand dollars in debt and I wish to break the cycle. I can’t stand the idea of living a normal life being broke living paycheck to paycheck. I’ve always wanted to do something more with my life, my passion is music but I currently don’t have the funds to focus on my passion in the way that I’d like. I decided I would start learning about day trading and investing my money in something to make my money work for itself. I wish to start a clothing business as well and drop ship my products. This is a start to my journey and I’m happy to be here learning.
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Trading is a good way to earn enough money to be financially independent but most people who start by day-trading lose their whole account because they take excessive risk to make money very very quickly.
Most retail businesses require capital to be spent on stock, premises, marketing, storage and shipping.
Most musicians make no money.
In any case, if you are day-trading, how will you have time to progress your interest in music or run another business?
Maybe you need to focus on which objective is most important and that choice will tell you how to get there.
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Thanks for your input, I would say main goal is to find a way to grow my money by making it work for itself and I’m struggling to figure out the first step in doing so, I figured day trading/investing in some way could help me get a start in doing so, my current job only pays 12 an hour so I’m trying to figure the best route to my future that I can with the amount of money that I make.
As long as you understand Forex is not a way to make fast money, nor is it a way to invest. Your best investment here is time.
You need to look at trading as a business, and businesses don’t typically even profit the first year or 2. And that is true here too. You can make money in forex, but it takes time to learn the ropes, and you will have to pay for it one way or another.
If you’re willing to spend the time required to succeed, which it sounds like you are, then you have a chance.
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if you are new to forex ,you need to know you will take almost 10 years to achieve what you want .so be honest ,take up 3 jobs at once will make a lot more sense ,forex isn’t something effort=pay off stuff ,don’t waster too much time on it .
if you work hard enough ,you will start work smart.
Welcome, if you study hard, practise on demo and keep working on yourself for years you can make this work. Best of luck to you