Thread: Is forex the best investment?

Hello everybody,

I have become forex in and outside for occasionally in this season. I have always wondered whether this type of market is your get rich quick type of surroundings. I am 18 and I am considering doing forex for a living once I graduated from school. What do you think is better than spending occasions learning forex?

Originally Posted by ;

Take a couple of minutes reading articles here, and you're going to see that nobody actually knows what they are doing.

So if you ever really know forex, let us know.

I like your post.
You're a the glass is half empty kind of guy.

The get rich quick kind of mentality comes from some of the men and women who attempt to trade Foreign Exchange and not from Foreign Exchange itself.

Since you are only 18, take your college years and begin learning how to trade. Read books on the topic, practice using a demo account, maybe even trade some micro miniature lots. Trading Foreign Exchange requires some time and effort, invest in these before you invest in Foreign Exchange.

The Currency Market market is tough to trade because it is super effective, therefore they lower the price of entry to keep a steady supply of newbs to make money for your bucket shops. Other markets such as futures and stocks aren't as mickey mouse, but the price of entry is higher. So it is a bit of a ch-22, unless you already have a nice quantity of money.

Lee

Which are you asking?

Nobody on here will tell you exactly what path your life needs to follow.That's up to you and fate.

What subjects are you studying?
Are you really going to get great results?
Are you really going to college?

My opinion..for what it is worth. .

If you are interested in forex/trading then after college get a job/go into uni' and study trading in your spare time.
Look at all aspects of trading ie Foreign Exchange. . .shares. . .bonds. .commodities. . .interest rates
There's a lot to find out.
I suggest you look at longer term trading while you develop a career.
Don't get transfixed on Foreign Exchange.
You will find different markets:-

Bonds/Eurodollars:-watch how they behave in connection with interest rates
Stocks:-Watch how powerful stocks don't fall far when the SP drops or feeble stocks don't rise when the SP climbs.
Commodities:-Search for cycles.Look for inverted markets. . .oilwheat are 2 examples! (That is an essential sign that the majority on this will not know)

You certainly don't want to spend all day sat in a computer looking for compounding chances (Unless of course you have a huge account and understand what you're doing and can get it done for a few years then move on)

You are 18 years old.Look to get a rewarding career and use trading as a bonus that may set you up for life when you're in your thirties/forties. That way you wont put stress on your own.

Hell I wish I was 18 and I'm just 40 but it feels as though I'm near retirement

Originally Posted by ;

You are a the glass is half empty kind of guy.

Haha

Glass? heh, glasses are rip-offs. It's all a scam on the part of the glass makers to make a buck at our expense. Glasses are a negative sum game due to evaporation!

Originally Posted by ;

Haha

Glass? heh, glasses are rip-offs. It is all a scam on the part of the glass makers to make a buck at our expense. All things considered, glasses are a negative sum game due to evaporation!

Don't get you

Perhaps its a UK term:-

Glass(Beer/Wine) is half full. . .optimist

Glass is half empty . . .pessimist

Originally Posted by ;

Perhaps its a UK term:-

ROTFLOL!!! I know the term. I am only saying that sometimes it's potential to develop into such a pessimist that even the issue itself appears bad.

It's real easy, especially if new (at anything) to get frued by the jaded and the burnt-out. But if you begin something new with that mindset you're definitely not going to get anyplace. Bear in mind the crabs in a bucket analogy. Google for it if you don't know it.

Trading is surely not easy and certainly not become rich quick by any stretch. However, some of the best traders often pull 40% annually without a lot of draw down... so yes it could be achieved if you practice and examine and stare at charts till your eyes bleed.

I am only saying that sometimes a little optimism never hurts the procedure, even if it's statistically unfounded.

Originally Posted by ;

Hi everyone,

I've become FX in and out for occasionally during this year. I've always wondered if this kind of market is the get rich quick kind of surroundings.

For 95% of participants, it is the get poor quick kind of surroundings.

Originally Posted by ;

I am 18 and I am Considering doing FX for a living after I graduated from school.

Do not shoot yourself in the foot. Get a job after graduation, stay at it a minimum of 5 years (rather two advancements). Should you take a few years off after school to trade and find it does not work out to you, when try to apply for jobs, that large blank hole onto your resume will make you virtually unemployable.

Forex is 24 hours, you could always trade weekends or evenings and still work fulltime, or place trade on the daily.

Originally Posted by ;

What do you believe is far better than spending times studying FX?

A WORLD of other things.

Magnufreakis right spend the time as you're in school to study up on the ins and outs of this industry. Practise trade like crazy evaluation theoyies and wind up demo accounts left and right to get a feel for the market. Keep you money safe (out of the market) till you have learn where it is for you or not. I would also add that you ought ot keep learning about different kinds of investmetn too. This should be a part of your total portfolio. Good luck and keep focused!