Hey all! I’m a 30 something wife and mother to 2 girls. I stumbled across a tiktok about fx trading and the financial freedom that comes with it. This sourced me to a Facebook group that was encouraging a monthly subscription of $300 to an fx educational program that I was interested in, but don’t have enough time in my day to study and make that a good investment at this point in our lives.
My husband and I work in the ag industry 50 hours a week(minimum) year round for a salvage company, so my girls are not with us. We do what we can with our time constraints to spend time with them and work his family farm(which our main profit from that is usually a 1/2 beef for the freezer yearly!)
We have big dreams to build a home on land we buy from his dad, but with the cost of everything we will probably never be able to afford it if we do nothing.
I dived into gleaning info from the conversations on the Facebook page, found some of the apps they were alluding to and started doing research. Didn’t even think about seeing what Reddit had to say until a week ago. Baby pips was mentioned quite a few times, so I thought I would check it out! I hope this can give me a good base understanding of basics(or more!) so I can start growing our currently meager savings to provide our children with the lifestyle we both had growing up on a farm(we currently live in town, which has its benefits, but miss the out of town life)!
Unfortunately, you are living in a fantasyland if you think you’re going to get rich quick. Social media scammers are everywhere aiming to promise you the earth, for c.$300 a month. If they were that good, they’d be trading themselves.
To take FX trading seriously you need to be prepared to treat it as a serious business venture, which will take years before you see any consistent profits.
IMO, your current time restricted lifestyle and heavy workload is just not suitable to risk time and money in FX trading, because you will lose money - that’s reality.
Apologies for being negative, and I hope other posters on here will send you similar messages.
BTW, babypips is a great education site that provides free learning courses, which if you have time you could have fun playing around on a demo account while you’re learning how not to lose money.
Stay away from anyone who mentions SMC (smart money concepts) or anything mentioning smart money trading etc.
Also ICT (inner circle traders), another group of scammers.
You already started out being manipulated by the worst side of forex, social media “guru” fake traders trying to sell you subscription and courses/services/signals.
All of them are fake, nothing they post is real, every trade they show as “proof” is fake, in a multitude of ways.
It sounds like you are starting from a very poor time constraint, learning how to trade the right way takes years, thousands of hours.
I would sell the farm and free up all that time, you said you barely see your kids?
Family is the most important part of life.
Get remote work from home jobs, so you can be with your family, jobs everywhere, in a million industries nowadays.
Thanks to Covid, most companies save a ton of money now with going remote.
I think everyone else has already warned you off this $300 per month educational thing. The best way of learning is to start demo trading and read books on FX and commodity trading. It is definitely possible to make a good living trading Forex, but it can take a while to become profitable and you need to be careful not to blow too much money while learning. What is Ag business? What do you grow on the family farm? You might make a nice bit of money if it’s
Corn or wheat! But i guess diesel and fertiliser costs eat into profits, right?
I think you over simplify working remotely.
If this person is s farmer than a whole process of retraining would have to occur.
I’m also curious as to why you think the ICT methods are as you say scammy .
As far as I can make out loads of his content is free how does he scam people ?
I think it is better off if you can find a decent money manager who have the time and knowledge of trading. May be one of those social trading side suits you more. Just make sure you how to analyze a good money manager. Don’t ever purchase any courses if you really put yourself into it and don’t ever pay subscriptions from signal providers that ain’t gonna work either.