I am 37 years old from South Africa. I have been obsessed with Forex Trading for the last year. I have watched so many online videos and have seen how lives are changed through forex.
I have finally made the choice to learn everything I need to know about trading and will be opening a account once I am comfortable with it.
I hope to make enough money to pay off my debts and buy my first house. That would be my immediate goal for now.
I hope to learn a lot from this community and be one of the winners in the future.
What you haven’t seen is videos of countless traders losing their life savings through FX. Which is the reality. The odd few successes are usually a media marketing hype to gain your interest in investing in their strategies and courses.
For example, ‘how I made $5,000 in one week.’ Not actually telling viewers that’s a demo account, and / or the account size is $50,000. And the Tesla car has been borrowed for the picture.
There are genuine guys - TraderNick is one, but even he is promoting his FX business for you to join at a cost.
And if you hope to make enough money to pay off your debts and buy your first house - you will need about an account size well into the $100,000’s. Money makes money.
A $10,000 account is small beer, so unless you gamble and get lucky, you won’t succeed… There is no short cut as experience is critical. Best of luck. Enjoy your time here.
Welcome! It is good you are motivated and have clear goals, however this will just make trading more difficult for you. You can become profitable, but that will take time and a lot of effort. You will have to study first, then build live experience and finally build proof for yourself that you can trade profitably.
Welcome! Sounds like you’ve been thinking of this for a while, which is a good thing since you probably have more realistic goals than those that jump straight into it. My best advice is the spend some time on a demo account before you open your first real account. Good luck!