Hey y’all!
I’m currently in the Leasing business, but I need to be with my kiddos more I’m looking to learn and add another stream of income
Welcome to the forum, don’t want to burst your balloon, but FX is not the place to look for an income, especially as it sounds like you want to replace part or all of your main job earnings.
Firstly you will need a fairly substantial bank, secondly look at any broker site that is regulated and it will tell you how many percentage wise lose money trading, my broker 77.7%.
I believe this to be conservative figure, probably more like 95%.
Even you have the resources to invest a substantial bank, it takes at least 12 months to 2 years or more depending how you go about entering the market to trade confidently and to some degree profitably.
And by this time as the statistics show you haven’t blown your bank in that time.
My advice sign up with a broker (regulated) and trade on a demo account, learn to earn use the teaching platform on babypips, get your hands on free or paid literature.
Open a demo account and If in 6 months your trading in profit and confident, perhaps enter the market with a small bank ($2000,£2000) should be enough to trade live.
In a year if you’ve increased it substantially then think about adding more to the pot.
However even if your good my estimate would be a 10% increase, perhaps 15/20%.
Unfortunately FX is long game, others may disagree with me and this is from my experience only I have never blown my bank and I’m not in the 77.7%.
Hope this helps you.
Personally, I make money from Counter-Strike and other games. It might sound strange, but it’s real.
Its good to be ambitious but you have to fix in your mind what you’re being ambitious to get.
Do you want a little extra money per month, financial independence, or riches beyond your dreams?
To get a little extra each month should not be impossible within a few months of demo trading if you dig up a simple strategy and stick to it.
Financial independence will mean leaving all your profits in the account so that you compound your profits year on year. If you start with say £1000, you might be drawing out a comfortable salary after about 7 or 8 years, maybe 10.
Forget about being insanely rich from trading - its just not going to happen.
Welcome aboard buddy .
It will take some time to replace or use trading as an additional income stream .
You may be at home more often but it’s still quite labourous at the start learning however I like the goal of family time noble
You need to have enough skills and experience to skip the risk and earn money