Hi everyone,
My name is Jeff, I am brand new to Forex trading, well brand new to any trading for that matter. I am currently a nurse and realized I am never going to be able to retire the way I want to just by nursing alone so I am learning as much as I possibly can about Forex trading and hope to make the career change and do this full time within the next year or so. The school on this site is truly awesome! It also appears the forum is just as awesome with so many willing to help newbies like myself.
I am also reading a couple of books to go along with this school. Hopefully in the next month I will set up a demo account and learn from that for 3-6 months and then start with a micro account for real trading. I plan to take it slow so I can do it right the first time.
Look forward to learning from all of you,
Jeff
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And you won’t be able to retire by forex in the time you are thinking you wanna retire. I do wanna retire too but with less than 500 USD in my acc i guess i won’t. Instead i am focusing in increasing capital, trade the less i can but the best i can and if if it not much to ask, to have every month with positive balance, not always possible by the way.
I’m not looking to retire next year. I have another 17 years to retire. I plan to start with a mini account and fund it with $5000.00 The most I will risk on any given trade will be 1%. I am thinking the power of compounding will give me a sizable account to retire with when the time comes. I am looking to learn as much as possible about forex to be able to make a good living and have a retirement plan at the same time. I am assuming you can still trade forex even in retirement. Of course it won’t be a full time job for me by then but nonetheless I know I won’t be in nursing then where I am actually committed to a certain time based on someone else’s schedule.
Hi Banker928
Not a baseball fanatic, for me its football. I will do exactly that. I was planning on starting with micro lots and work my way up to mini lots after I’ve learned what I am doing through a demo account and $500 will fit right into that plan. I will stick to the 1-2% risk management rule as I have it printed and taped right to my monitor to remind myself that risk management is my #1 priority.
Thanks for the Great Advice! Very good plan for a newbie like myself.