I’ve always been awful at these-- hey there! Happy to join a Forex community that breaks it down nice and easy for the new guys, rather than taking advantage of us.
What started off as a simple search to learn how to exchange CAD to USD as cheaply as possible turned into fascination, as I’d never heard about the concept of Forex before-- and the possibility of one day doing it full-time only further intrigued me.
I’ve been going through the babypips schooling, and the further I get into it the more interested I become (Reading the elementary section now).
I recently immigrated to the U.S. from Canada, and I’m not legally allowed to work/run a business until I receive my work authorization document (roughly 4 months). So I’ve been trying to dedicate my time to [B][U]something[/U][/B].
Opening up a demo account (for 4 months) and learning everything I can in that time is what I plan on doing! I’m hoping if I dedicate enough time that I may be ready to use real currency by then. I have about 10-15K to fund my account, but I’m not sure if that’s enough to do it full-time or what to really expect yet.
Don’t fund your account with all your capital in the start, once your good a demo; open a live account with about $1,000 and see how it goes. Stick to the plan and keep doing that until your confident that you can make money without letting your emotions take over you. I say this because live account has a whole another level of psychology because real money is involved. I say this from past experience so please act wisely.
[QUOTE=“ethomp;622283”]I’ve always been awful at these-- hey there! Happy to join a Forex community that breaks it down nice and easy for the new guys, rather than taking advantage of us. What started off as a simple search to learn how to exchange CAD to USD as cheaply as possible turned into fascination, as I’d never heard about the concept of Forex before-- and the possibility of one day doing it full-time only further intrigued me. I’ve been going through the babypips schooling, and the further I get into it the more interested I become (Reading the elementary section now). I recently immigrated to the U.S. from Canada, and I’m not legally allowed to work/run a business until I receive my work authorization document (roughly 4 months). So I’ve been trying to dedicate my time to something. Opening up a demo account (for 4 months) and learning everything I can in that time is what I plan on doing! I’m hoping if I dedicate enough time that I may be ready to use real currency by then. I have about 10-15K to fund my account, but I’m not sure if that’s enough to do it full-time or what to really expect yet. Anyways, thanks for having me :)[/QUOTE]
Hello and welcome to our forex community! Glad you found your way to our site and enjoyed learning about forex trading. How’s your demo trading going so far?
[QUOTE=“Ayyaz7;622401”]Don’t fund your account with all your capital in the start, once your good a demo; open a live account with about $1,000 and see how it goes. Stick to the plan and keep doing that until your confident that you can make money without letting your emotions take over you. I say this because live account has a whole another level of psychology because real money is involved. I say this from past experience so please act wisely.[/QUOTE]
Wise words. Take baby steps and draw a great trading plan before anything else. Then stick to it like a mantra.
Thank you for this. I’ll probably do just that! I’m sure once real money is involved, it’ll be a lot harder to stick to the strategy.
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Thanks for the welcome! I think I worded my post poorly. I haven’t started trading demo yet, but plan on opening one asap and practicing over the next 4 months. Being able to commit all day to it as a day-trader would, since I’m not able to legally work here yet. I’m in the process of reading through these forums and looking for recommended brokers that will fit me.
