Hello everyone.
This is my first post on this forum.
Before I started writing this I read a lot of the threads and discussions here and people's opinions, etc.
I'm extremely new to Forex trading. I just started reading babypips.com and getting acquainted with the terminology and fundamentals. It's very interesting and I like it. I plan to learn as much as I can for a while by reading forums and sites that have information, after which I will be opening a demo account and play around for a few months to really learn what this is all about.
I'm going to take my time and I'm not planning to put any real money for the near future of at least 6-8 months.
I do however have a few questions, Can normal people, with small capital ($1000-$3000) make money and live off trading Forex?
Does knowledge really help and do you get better with experience and does this actually make a difference?
I like to play poker from time to time and I've been playing for quite a while. Forex trading, seems to me it's a lot like poker. There is a lot of luck involved, maybe even more than poker. Am i right?
The idea that I have in my head right now is that unless you have some very serious capital to invest in the first place(100k and up), you have no chance at making money without really just gambling. Even then you're gambling, but you have a better chance of staying alive long enough to make profits.
I would really appreciate your comments and advice. Thanks.
This is my first post on this forum.
Before I started writing this I read a lot of the threads and discussions here and people's opinions, etc.
I'm extremely new to Forex trading. I just started reading babypips.com and getting acquainted with the terminology and fundamentals. It's very interesting and I like it. I plan to learn as much as I can for a while by reading forums and sites that have information, after which I will be opening a demo account and play around for a few months to really learn what this is all about.
I'm going to take my time and I'm not planning to put any real money for the near future of at least 6-8 months.
I do however have a few questions, Can normal people, with small capital ($1000-$3000) make money and live off trading Forex?
Does knowledge really help and do you get better with experience and does this actually make a difference?
I like to play poker from time to time and I've been playing for quite a while. Forex trading, seems to me it's a lot like poker. There is a lot of luck involved, maybe even more than poker. Am i right?
The idea that I have in my head right now is that unless you have some very serious capital to invest in the first place(100k and up), you have no chance at making money without really just gambling. Even then you're gambling, but you have a better chance of staying alive long enough to make profits.
I would really appreciate your comments and advice. Thanks.