My, €4.1k to €227k in 2 years, journal.

Benj1981

Benj1981

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Hi everybody,

I recently was lucky enough to be invited to one of IG's Forex seminars, and i'll tell you what; it really opened my eyes!! I've been working as an electrician for the last 15 years, and as nice and regular the cash is, it's not going to make me a millionaire. But, after going to that seminar, i've realised trading could! Yes, i know only a small % actually end up making it, but i think i've got what it takes.

I intend to spend 2 months learning everything i can from free sources (everyone on here's saying you're a mug for paying for training - so that many traders can't be wrong!) from the internet, which I'll also document on this journal, but if it's going really well, i might start trading much sooner.

I've got £5k saved up for my new career, but i will still be doing some spark work on the side if and when needed. I've got a mortgage and a young family - so no pressure! :LOL: But seriously, i wouldn't be doing this if i didn't think i could do it. Confidence is everything, and i don't see why trading will be any different.

Right, onwards and upwards with the challenge. The learning has begun....
 
One word of advice, confidence should come from knowing your capabilities though an established track record. Confidence based off a gut feeling is not confidence, its an Xfactor outlook that is no different than those auditions on the tv show that make ratings. 2 months is not enough to base a career off and certainly not enough to get you started on the path to wealth. I don't want to cut you down but I think a reality check is something you have yet to comprehend. If you have a family you should have an ongoing stream of income that isn't through trading. Furthermore, be sure you can afford to lose that 5k.The pressure coupled with your lack of experience is guaranteed to end up being a problem if you trying to earn a living from trading. Too many people think they have what it takes and dream of riches before they learn to crawl.
 
It's not going to happen.

You would be far better off spending the next 2 years researching and testing before committing any funds whatsoever.

Everyone sets off with the same idea...more than 95% fail...have a think about that.
 
good luck.
I ended up making a little when attempting to daytrade futures for a little while (see journal link in signature).
Working full time again at the moment and still trading on the side, using reduced stakes.
 
piggybridges said:
good luck.
I ended up making a little when attempting to daytrade futures for a little while (see journal link in signature).
Working full time again at the moment and still trading on the side, using reduced stakes.
Click to expand...

Thanks buddy, like the PMA.
 
Benj1981 said:
Haters welcome too.
Click to expand...

They're not haters, they're doing you a favour. Where do you think all the money that these bigger winners earn all comes from? It comes from another traders losses, you can only win £5,000 from a trade because someone else did the opposite as you and lost the £5,000 that you won. Without both a buyer and a seller there would be no trade.

Think of it like a giant game of poker, poker is a game of skill and the majority of players lose; the money flows from the majority of players to a small group of highly skilled pros. What is your reason for believing that you are one of the highly skilled pros who will be able to walk off with everyone elses money?
 
forker said:
One word of advice, confidence should come from knowing your capabilities though an established track record. Confidence based off a gut feeling is not confidence, its an Xfactor outlook that is no different than those auditions on the tv show that make ratings. 2 months is not enough to base a career off and certainly not enough to get you started on the path to wealth. I don't want to cut you down but I think a reality check is something you have yet to comprehend. If you have a family you should have an ongoing stream of income that isn't through trading. Furthermore, be sure you can afford to lose that 5k.The pressure coupled with your lack of experience is guaranteed to end up being a problem if you trying to earn a living from trading. Too many people think they have what it takes and dream of riches before they learn to crawl.
Click to expand...

Not my problem you can't make any money pal.
 
Benj1981 said:
Haters welcome too.
Click to expand...

Good luck Buddy I say......

Unfortunately most but not all will be cynical replies indicating you have no chance. Have a good crack at it and report back......

Personally I failed (overall) on Forex but found my Niche on Indices. Be confident and go for it.
 
Davidee said:
They're not haters, they're doing you a favour. Where do you think all the money that these bigger winners earn all comes from? It comes from another traders losses, you can only win £5,000 from a trade because someone else did the opposite as you and lost the £5,000 that you won. Without both a buyer and a seller there would be no trade.

Think of it like a giant game of poker, poker is a game of skill and the majority of players lose; the money flows from the majority of players to a small group of highly skilled pros. What is your reason for believing that you are one of the highly skilled pros who will be able to walk off with everyone elses money?
Click to expand...

Sorry i don't play poker, so the analogy is lost on me.

Like i've said before, i'm positive and have belief, AND i soak up information like a sponge! You mark my words, you're dealing with a future forex winner. :smart:

Good trading to all.
 
Of course it's possible but you need to read plenty,develop a system that works for you,and if you are working then day trading is out,nothing wrong with that forex for example is probably as easy/hard to trade weekly as it is on a tic chart. I have a dead simple system for £$ but I don't have the time to trade it every morning. It returns 3R. Find out what works for you and of course get all the free education you can handle. Check out Van Tharp for a start.
 
jungerns said:
Good luck Buddy I say......

Unfortunately most but not all will be cynical replies indicating you have no chance. Have a good crack at it and report back......

Personally I failed (overall) on Forex but found my Niche on Indices. Be confident and go for it.
Click to expand...

Thanks mate, i appreciate your comment. We've got to keep on going, no matter what the "naysayers" keep saying. Fight on.
 
Windlesham1 said:
Of course it's possible but you need to read plenty,develop a system that works for you,and if you are working then day trading is out,nothing wrong with that forex for example is probably as easy/hard to trade weekly as it is on a tic chart. I have a dead simple system for £$ but I don't have the time to trade it every morning. It returns 3R. Find out what works for you and of course get all the free education you can handle. Check out Van Tharp for a start.
Click to expand...


Thanks for the Van tharp heads up.
 
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