Hi I’m Layla, my mission is to become my own boss. Im interested in learning as much as I can. I’m looking for a mentor if there’s anyone out there. Serious enough about sharing what they have learned over the years.
Hello Layla. Welcome to the forum. It’s actually a good thing you know nothing, and you’re in the very best place to learn from the very beginning. School of Pipsology is the best place to begin that. It’s a lot, but the time you invest there will be totally worth it.
As for your question about a mentor I believe this post will help. Check it out.
Also I recommend that you take some time to check the posts in the forum in different sections many traders have shares their stories over a decade through here. So you can explore everything here. Trading Journal section is a great place to learn a lot of thing.
Wish you good luck and success on your journey!!
Nick!
Every new trader should practice on a demo account before investing their money.
First of all, you need to learn the basics of forex perfectly. You can learn the basics from a demo account.
Do you know where I can make a demo account?
Hi Layla,
My opinion probably isn’t going to be popular here, but I will share it anyway…
If your mission really is to become your own boss then personally I would advise not getting into Forex Trading… Why you ask?
Trading is hard. And despite what most will tell you, will take a long time to learn. If you don’t truly have a LOVE or passion for the financial markets, charting or human psychology then the chances of you quitting or giving up when you continue to fail (and this will happen), is extremely high.
If you truly want to be your own boss and that is the only reason you stumbled onto forex then personally I would recommend doing a bit of an observation on your life… what do you gravitate to when you have free time? What do you enjoy doing as a hobby or passion project? Can you start a side business around that?
Like most businesses, forex has an extremely low success rate. The chances of success in any business or undertaking you do increases exponentially when it is something you are passionate about as it helps you get through the hard times when it feels impossible.
Don’t want to discourage you from learning forex, but I also want you to have a realistic view about it.
Hope this didn’t come across too harsh
What is your background? 95% of traders fail long term.
Of the 5% who make it, only the top 1% make more than minimum wage when you average out their roi.
You have had very realistic responses, with which I agree completely. FX is probably one of the most challenging business venture to undertake.
Money makes money. It’s realistically impossible to make a living with a small capital account. I suggest you learn to trade FX properly and proficiently on this site, using a demo account until you’re comfortable with your progress. Then you could dip your toe into a small live account to learn how to control the emotional reactions to both losing and winning trades.
When you’re comfortable with that account, you’ll make headway with a mentor - but be serious about it, as mentors cost money.
Best of luck.
[Edited for a Forums Violation]