Hi I’m Mike I’m 29 I work a lot and am hating life cause of it. I’m new to Forex and hoping it will eventually be a life changer for me. Im paying for forex training from the trading channel on youtube. The dudes name is Steven. He calls it EAP. Am I waisting money? Does this site have everything I need. Is there some kind of free training program here?
Hi, getting knowledge about forex and skills needs time, visit the education section Regards Greg
Hi Mike
Frustration can be terrible. Forex will not solve it for you. You need to accept where you are
and adjust to a better situation. I have no clue about The Youtube guy. But after 22 years in
this Industry, I would say most courses has some good content. But it can’t buy experience.
If I had to teach a new person something. Then I would start understand the 3 days rise or
fall concept in Forex. What it means, is that when currency pairs rise 3 days or more in a row
and push a final step and then reverse fast. That is where you should start learn.
No matter if you learn about Elliott Waves, Fibonaccis or anything else. The SmartMoney
will do these reversal every week. Is not based on news, is a manipulated market where
The SmartMoney always win. You can join them undetected, or try go against them and
lose. That’s the game!
Good Luck!
Daniel
Hello Mike! There’s a lot of free resources available online to learn forex trading. The School here is one of the best place for newbies.
Better to take your money and put live trades on - you’ll learn more and learn faster.
There are literally an infinite amount of free educational resources on the web.
You need to put effort into seeking them out.
You’re 29 and need to retire ASAP?
I’d change that mindset and start thinking more like a professional as step 1.
I hate working and having to commit to a job. Plenty of people are able to retire at a young age so I think my mindset is okay.
I am doing the preschool training this site has to offer to try and learn Forex. I’m just trying to seek a way to be financially independent and now I have to commit to a job
I have recently left a toxic job that I hated and I’ll be honest the money I make from forex contributes but not loads at the moment and I have been at it for 15 months now. Look to see if you can find a work from home role or freelance opportunity as that will free up your time to spend learning and practicing to trade. But don’t rely on it as I’m afraid you are years away from trading being your route out if it ever will be. I’m not sure I will ever just trade for a living or if I will want to.
Believe me I’m trying to find anything. I work 60-70 hrs a week with the post office. It is a great job but I have no life and little time and I’m trying to spend that little time studying forex. I’ve opened up a demo account but have not traded yet because I want to make an educated trade. I’m using this site’s pip university to learn forex in tandem with a paid course. I will be donating coffee to. God help me. Thank you all for the replies
This will probably take years,
You will probably lose money in the process
Then you need to have sufficient capital to make a living out of it…
But there is no guarantee that you will succeed.
Its great that you have a positive attitude and the motivation to change your life but you must be patient with this and have realistic expectations.
Good luck.
There is a lot of overwhelming information to take in but fortunately I enjoy figuring things out and trying to learn and I haven’t given up yet. Which brokerage do you guys reccomend? I’m mobile a lot and I’m ok with having to do lot sizes (although I can only do micros but there is leverage :). I got Meta trader 5
Don’t worry I don’t have a live account yet but I did open a demo. I’m taking this slowly.
Just want to know if there is a better mobile brokerage. Also on metatrader5 I can’t tell if candlesticks are boolish or barrish because it’s in black/white and I can’t find an option to go red/green.
Hi mate, I appreciate your sentiment, but hold the horses, I wish your every bit of luck in your endeavour, but work out the maths, you’ve either got to start out with substantial bank or build up to one.
Don’t know what you earn or desire to retire on but let’s be modest 20,000 USD/GBP then to make that every year on 1% to 2% risk of your capital is a tall order.
And that’s hitting the road running, no losses, no setbacks, no draw-down on on your bank.
If you start out on say 5000 USD/GBP and want to build up your capital, a good return on trading an averaging 20% (Some may have a ROI of less than and some more).
It is still going to take few years to grow to a substantial amount.
Probably not the answer your looking for, but my concern is your going to go into trading with the wrong mindset and greed may overtake your emotions to find a quick answer and you’ll end up blowing your bank, look at the statistics for failed retail investors, mate take your time learn to earn.
I know the feeling. I’ve been there too and working too much really just burns you out, even if you’re passionate with your craft. I hope forex could allow you to live a bit more freely. I know there are a lot of free stuff out there that you can use to learn so it’s not really necessary for you to pay for a course. Unless, you think it’s amazing? How is it so far?
I am learning with it, but in comparison with The Pips University here some things aren’t lining up. Like in the course he’s using different phrases for things like for structure and support and then I see it on the learning stuff from here and it’s called something different from here. I haven’t been through the entire course from the guy but I’m taking both his course and this websites free material simultaneously and he’s leaving things out at this site’s material is covering. Like the currency pairing’s nicknames and other things
But yeah I will keep studying Forex and trying to find a way out of the rat race wish me luck if you want. Thanks for your reply.
If you think this is a get rich quick scheme, you might be setting yourself up to fail.
I think there is nothing wrong with working a lot at the age of 29 as long as you find your work financially rewarding and some-what psychologically satisfying. Also, please don’t enter forex market with the mindset that learning to trade would involve any less effort.
As for training material, start with the pips school that has already been suggested. I wish you all the best.
Hi Mike. Welcome to the community. Good luck on your trading journey.
Mike, I totally understand your feelings, but before you leave your current job, you need to be 100% sure that you can make your living from forex. Profits on forex comes with several years of experience.
Hi Mike,
I do understand what you mean and can totally relly to that feeling. I’ve been stuck there too, but escaped years ago, because of the struggle of emotion which occcures. But you must have a steady income in order to switch to something else. There are many ways to build a sidehusstle which in the end wil generate enough income to actually leave your job and be more focused and dedicated to what you actually want to do. But untill that part, you have to check what the pro and con’s are. All in in all, once when you have your vision upfront and are ready to take that leap of faith, jump and hunt it!!
Hi Mike! I understand the level of frustration you are having but forex is not going to be easy. You need to be calm and have much patience. Go through the courses offered by Babypips and gain knowledge from it. Practice consistently and keep your emotions aside.
Good luck
Working 60+ hour weeks is just downright unhealthy and it leads you down a road where you miss out on all the things in life,Even if you have your own business or you love your work, variety is the spice of life and it’s beneficial to not over-do any one thing.