Any young newbie traders out there?

[knocks420]

I'm 24, graduated from a good school, working as an engineer for a big corporation. I'm hoping to one day (the sooner the better) quit my day job and make a living trading. A very profitable living! I own some stocks however really interested in FOREX due to its high leverage, trending, and ultimately profit potential. I was just wondering if there are any other young people out there similar to me, just starting out, and to see where your at and where your going?

[leonardb]

Im sure im not one of the young ones (never thought i say that) . im 29 .. I think your goal is like most of the members of this board.

Where im at?
Restructuring my strategy after doing fairly well, then going against my system and doing bad and unable to correct the loss. It was ultimately a point where i loss what my original strategy was by allowing myself to go a stray too often.

Where im going?
Profitable FOREX trading and being able to say that im a Part-Time FOREX trader.

Learning to deal with the loss is the first understanding to deal with.

As it has been said: Yes this is a highly profitable market, but by the same system that makes it can lose it; its more about you understanding your trading rules and obeying them. This also includes testing your system for a long priod of time and figuring out if the problem is you or the system ..

good luck man .. !

[merlin63]

Same here... 24, working for a small company. I'm still learning all about Forex, and reading as much as I can. Like knocks420, I own stocks but found that the limited market times made it hard for me to watch anything since I work at the same time. Forex seemed a bit more appealing due to the same reasons you stated: Leverage, profit and plus I can come home and do it.

My goal is to still stay a part time trader, since I sort of like my job right now. That may change at some point down the line.

[knocks420]

Merlin,

Sounds like we have very similar stories. I don't mind my job, I just hate working for THE MAN. I work for a Fortune 500 company and I travel constantly, deal with office politics, and the usual BS that comes with working for corporate america. Actually, the thing I hate THE WORST is waking up in the morning. I would rather be able to get up whenever and trade whenever I want. Of course thats just an ideal, but I got the color of my Ferrari picked out just in case.

[jtb790]

Originally posted by knocks420
I'm 24, graduated from a good school, working as an engineer for a big corporation. I'm hoping to one day (the sooner the better) quit my day job and make a living trading. A very profitable living! I own some stocks however really interested in FOREX due to its high leverage, trending, and ultimately profit potential. I was just wondering if there are any other young people out there similar to me, just starting out, and to see where your at and where your going?

Something you may want to consider. While you are making money from an alternate source, take some of it, if you have enough, and open a forex account. Then have a successful forex trader trade that money for you on a pre-set risk/reward level basis.

That way, at least you got some of your income money already working for you making money off of currencies while at the same time you yourself can open a demo account and develop a system in your spare time.

You may even someday direct your trader to trade according to your specs!

Coinz

[ironwill]

I'm in the same bracket as a person trying desperately to learn as much about forex trading to be able to step away from my job and do this for a living and be able to pick any other job if I so need or choose to. Man, getting up at 3:30AM 5 days a week, out of a dead sleep, is definitely not enjoyable. The job isn't hard for me, filling vending machines and the like, I just absolutely hate the time I have to get up. I have some stocks too, just have to continue being patient for them to bank the money I am looking for.

[shuum]

hey knocks,

i am 25 and an engineer also... love my job and make a decent living, so my objective is not to replace my line of work but trade forex part time. Have a lot to learn though, the only investing experience i have is in stocks and bonds. where are you all going to educate yourselves on trading currency? i hear ove r90% of newbies fail...

[jeffizcool]

Man we sound like broken records....
I am also 25 and an engineer working for a large corp and I also hate working for the man.
I believe that it takes smart determination to make it in forex or just about anything else. I think most people fail because they just simply give up or find that it is harder than they originally thought.
Good luck.
Thanks,
Jeff