I did forex on a small scale back in 1970’s when I was in the Navy going from port to port. I loved Italy the most, so I learned about the currency changes. Italy’s currency at that time was called Italian lira, it fluctuated between 600 to 800 lira to USD, so I would hope to get 800 lire, and turn it in for 600 lire to USD. So if I got other guys lire when we were ready to leave well, I could get a nice increase. So when I heard I can do this from my phone, I was excited.
Yea I get frustrated, and even at time was about to throw the towel in for good, till one of the people I listen to said more people quit forex, and I never want to be average, so I renewed myself then I found Tradera. Best thing ever.
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I knew forex was for me when I realized I could spend my time in exchange for knowledge and money instead of wasting my time online for frivolities. Forex knowledge is a value addition and it could be useful anywhere. It makes you follow global news and all.
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For me, forex has become an opportunity to realize my skills and knowledge and at the same time earn quite good money.
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I got scammed into it ! I saw the lifestyle on instagram and wanted to be apart of it, now nearly 2 years down the line not making mega money but I am invested in crypto, penny stocks forex markets etc,I have spentt most of that time learnng ! Plese do not follow signals no matter how good they are you will always lose money as you wont get the same entrys etc
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The reason why I trade is totally different from what you want to hear en perhaps will ever hear. Forex trading is what helped me to not break down after my daughter was diagnosed with cancer and is what keeps me alive after she died. Forex is my therapy. I disconnect completely from all my thoughts when I dive into the charts. In 1.5 years trading not much profits, only small profits but I do it be cause I love it. Some day I will become a great Forex trader because mentally I am prepared to do it forever and never surrender.
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Every individual have their own objective to enter into Forex market. Some come to explore them self to know about FX market trading whereas some come with a pure motive to earn lots of money from the market. But most important is that one should have attitude to learn Fx market.
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In 2002 I bought some shares in a company my Dad was working for. It was a telecom company and it was after the tech crash.
I bought the stock because it was cheap (literally) 0.25p a share or something. I had no idea what cheap really meant in relationship to earnings
Anyway I kid you not as soon as I bought them they started rising and a couple of months later I’d quadrupled my money.
So what did I do? I bought more and was encouraging my mates to get into it
All my Dad’s friends at work were now buying too just as the price started falling and falling and falling.
I think I eventually sold for 1pence give or take.
I chalked it up to experience but felt guilty I got friends involved.
The upshot was I started following the markets much closer and by the time I opened a spreadbet account a year later I knew this was the only business for me - even though it took years before I started making regular money.
I’ve analysed why some of us enjoy this business and its not money, it’s the ability to feel an element of control in what is a risky endeavour.
It’s the same high as a rock climber, lone sailor on the ocean, skydiver or bungee jumper. It’s not the thrill itself (or da money) it’s being able to take calculated risks knowing that we will come out ahead over a number of trades
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sorry about your sad story, but I am glad that it turned you to be a (more) positive guy.
We should learn from you, pal.
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I bet that does the trick for a lot of people. Lol
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That’s an interesting passion. How were you introduced to it and what made you so interested?
Great response! I appreciate it. I’ve actually opened a demo account but I still don’t have a trading journal. Do you have a format I could follow? Thanks!
I’m sure earning a bit on the side through forex would also make me happy! Lol. But it’s great your enjoying the experience.
Very detailed response! Thanks for that. And you’ve been trading for almost a decade now wow! At this point, do you think you’ve achieved that goal of being more like the 1% of traders?
You started trading in the early years of the internet. Wow! So much has changed since then. Is forex your main source of income now?
What do you mean by that? I can’t say forex is just an addiction because ordinary people like us can earn from it right?
Right! How has your background on economics helped you in trading? Thanks!
Good for you! I guess you’re right that that’s something to hold on to.
There’s a lot to think about there. Very insightful, thanks so much!
Why don’t you want to do it for a living? I thought forex would be more freeing than being an employee and that you don’t necessarily have to be stuck in front of a screen?
I think maybe luck still has a little part in it? Lol Thank you! I want to experience that kind of happiness and excitement for myself too.
Good luck to us!
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