Hi Guys
,
I am a newbiew in Forex but am very comitted to master trading, I don't mind spend 70 hours/week or more to master Forex trading. In fact I don't see learning Forex as working ,it is fun for me and enjoyable.
A little about me :
I am a small business owner. I lost a lot of money and a house in mutual fund and stock trading in 2008. I was totally devastated because of this. This occurence has caused me to be a very risk averse person.
Lost a lot of money because :
- Over confidence
- I used money that I can't afford to lose
- Emotional factors
- Money management
- Noob skill in trading.
- Other classic noob mistakes
Lessons learned , it's a lesson that I will never forget for life because the experience was so painful, The desire to be a full time, profitable trader never completely ceased though.
I now want to go back into trading after 5 years.
What I am going to do :
- I will focus on psychology, RR and money management. I will try everything to enforce discipline.
- I will pick a simple, yet proven trading system at Forex Factory.
Trading Made Simple @ Forex Factory
and will stick to this system only until I master it, won't waste my time playing/experimenting with other systems.
- I will quit my small business and get into forex full time. The business has not been profitable for the last 3 years anyway and I don't enjoy it but with trading it feels different, it doesn't feel like work at all.It feels fun.
What I have :
- I have $ 125.000 saving. $ 80.000 will be enough to cover my expenseses for 2 years. After 2 years of learning Forex , I will be left with $ 45.000.
Questions :
- Is it possible for me to make consistent $ 5000/Mo through Forex after 2 years or hopefully 1 year using seed money of $ 45.000?
I will only learn and apply 1 proven trading system ,
Trading Made Simple @ Forex Factory
I will focus on psychology, RR and money management. I will try everything to enforce discipline.
Thanks