After reading the forum and realizing FX isnt as forgiving as I thought it was or as easy the seminars I've been to say how easy it is, I'm having second thoughts about doing it as a career. Trust me, I'm NOT afraid of hard work to get to know the system, I used to own a landscape company and now must start a home business due to an injury.
I can't tell if this is just a case of cold feet or logic saying "you could lose everything". Has anyone else faced this dilemma?
Well IMO, there is nothing "easy" about the forex market, or trading in general - it's a shame that people are mislead about this through these various seminars. Also, your logic is correct, in that there's a very good chance that you stand to lose everything (that you put in to your trading account), especially if you're inexperienced.
To think that you will be able to just "jump in" and rely on your trading for your primary income is wishful, at best - at least at this stage (I'm assuming you're new to trading and/or forex).
My advice to you would be to find something else to support yourself/your family and meanwhile, trade part time - of course only with funds you can afford to lose.
When your income from trading surpasses that of your other source of income (job/home business), and you have built up a sizeable "cushion" to support yourself for at least 6 months w/out any additional income, then and only then should you contemplate making the transition to trading full time.
This would be the safest/smartest way, IMO.
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