slicendice73
Newbie
- Messages
- 2
- Likes
- 0
Hi everyone,
I'm a total newbie to all things trading (as in a *TOTAL* newbie!) so this is my very first, very tentative step into what is a totally foreign environment for me.
The reason I'm here, in a nutshell, is that I want to help my brother (who lives in the USA). He has recently gone through a really messy divorce in which he got absolutely shafted and is now in a pretty precarious position financially. Sadly, it's not just his finances that have taken a massive hit...it turns out that his now ex-wife is a narcissist who had been abusing him for years (financially, emotionally, physically). This has had a devastating effect on his mental health and left him bordering on PTSD. Add to that the fact that she ran up huge debts before the divorce, knowing she could offload half of them onto him...so he now has a debt of ~£80k and absolutely no way of paying it off.
The long and the short of it is that I want to try and help him out and trading was one of the ways that seemed like it might be possible to generate some income. I'm by no means wealthy myself, otherwise I'd just pay his debt and be done with it. But sadly I can't, so here I am. I'm not looking to make £millions and start living the jet-set lifestyle (that so isn't me!)...I just want to see if I can help my brother make a dent in his debts.
The challenge I'm facing is that there is SO MUCH information out there that it's kind of overwhelming...books, websites, training courses, YouTube videos, etc, etc all claiming they can show you how to make money. I've ploughed through a bunch of stuff and whilst some of it has been useful, there's been some quite contradictory advice - one video might say "You should do XYZ and ignore anyone who says otherwise"...and then another video says "Don't do XYZ and ignore anyone who says otherwise"!
I have a full-time job myself so whereas it would be nice to dedicate a whole bunch of time to this each day, realistically that's not going to be possible. I know it's going to take time...though quite how much time there is until the dung hits the spreader is a bit of an unknown, given that the way my brother's debt has been structured is that his ex-wife has to pay the debts in full and he then has to pay half to her. And after pleading penury during the divorce hearing, she has now (surprise surprise!) suddenly found money to start paying the debts off...so I just don't know how much time there will be until he has some major bills knocking on his door.
I'm under no illusions as to what's possible and I realise that trading is not a "get rich quick" type thing; making a stack of cash in a short time without any experience is total pie-in-the-sky and simply won't happen. But if I can at least get to the point of having enough knowledge to make a judgement call as to whether trading is a feasible option (for me) or not, that would really help.
So my time on T2W at this point is simply for the purposes of information gathering. I've started reading the articles on here about being new to trading (e.g. I'm New To T2W - Where Do I Start? & Essentials Of 'New To Trading') and they are very informative, so I'll keep reading those. Tbh, they're also quite scary! To the point that I really don't know if I'm doing a sensible thing...? But that's why I'm here...to try and ascertain whether this is something worth getting into or not.
The main question I have at the moment is as per the title of this post...am I a bit bonkers? Is this a really bad idea? Should I be looking elsewhere for ways to help? I guess that's very subjective and it will vary from person to person, but I'd still be interested to hear opinions.
One other question I have is, how many of the members on here do this in their spare time? Do you trade around your normal job? And if so, how much time do you dedicate to it (roughly)?
Apologies for the lengthy post...if you made it this far, thank you
I'm a total newbie to all things trading (as in a *TOTAL* newbie!) so this is my very first, very tentative step into what is a totally foreign environment for me.
The reason I'm here, in a nutshell, is that I want to help my brother (who lives in the USA). He has recently gone through a really messy divorce in which he got absolutely shafted and is now in a pretty precarious position financially. Sadly, it's not just his finances that have taken a massive hit...it turns out that his now ex-wife is a narcissist who had been abusing him for years (financially, emotionally, physically). This has had a devastating effect on his mental health and left him bordering on PTSD. Add to that the fact that she ran up huge debts before the divorce, knowing she could offload half of them onto him...so he now has a debt of ~£80k and absolutely no way of paying it off.
The long and the short of it is that I want to try and help him out and trading was one of the ways that seemed like it might be possible to generate some income. I'm by no means wealthy myself, otherwise I'd just pay his debt and be done with it. But sadly I can't, so here I am. I'm not looking to make £millions and start living the jet-set lifestyle (that so isn't me!)...I just want to see if I can help my brother make a dent in his debts.
The challenge I'm facing is that there is SO MUCH information out there that it's kind of overwhelming...books, websites, training courses, YouTube videos, etc, etc all claiming they can show you how to make money. I've ploughed through a bunch of stuff and whilst some of it has been useful, there's been some quite contradictory advice - one video might say "You should do XYZ and ignore anyone who says otherwise"...and then another video says "Don't do XYZ and ignore anyone who says otherwise"!
I have a full-time job myself so whereas it would be nice to dedicate a whole bunch of time to this each day, realistically that's not going to be possible. I know it's going to take time...though quite how much time there is until the dung hits the spreader is a bit of an unknown, given that the way my brother's debt has been structured is that his ex-wife has to pay the debts in full and he then has to pay half to her. And after pleading penury during the divorce hearing, she has now (surprise surprise!) suddenly found money to start paying the debts off...so I just don't know how much time there will be until he has some major bills knocking on his door.
I'm under no illusions as to what's possible and I realise that trading is not a "get rich quick" type thing; making a stack of cash in a short time without any experience is total pie-in-the-sky and simply won't happen. But if I can at least get to the point of having enough knowledge to make a judgement call as to whether trading is a feasible option (for me) or not, that would really help.
So my time on T2W at this point is simply for the purposes of information gathering. I've started reading the articles on here about being new to trading (e.g. I'm New To T2W - Where Do I Start? & Essentials Of 'New To Trading') and they are very informative, so I'll keep reading those. Tbh, they're also quite scary! To the point that I really don't know if I'm doing a sensible thing...? But that's why I'm here...to try and ascertain whether this is something worth getting into or not.
The main question I have at the moment is as per the title of this post...am I a bit bonkers? Is this a really bad idea? Should I be looking elsewhere for ways to help? I guess that's very subjective and it will vary from person to person, but I'd still be interested to hear opinions.
One other question I have is, how many of the members on here do this in their spare time? Do you trade around your normal job? And if so, how much time do you dedicate to it (roughly)?
Apologies for the lengthy post...if you made it this far, thank you
