OK hi all,havent been trading for over two years now,mainly because when i started i blown more accounts that i could remember totaling over 4 thousand euro in losses over about 2 years time.My main trouble as many would guess is over leveraging up to 30% 50% percent,thus trading with enormous risks and basically ending up in red most the times,asically no self control or strategy.
Now once i realized my mistake i gave up on it completely,and took time off-just forgetting everything ive learned and any interest in trading what so ever.
and went back to my usual work which is stacking shelf's in grocery store and doing whatever crap im told,no brain in involved what so ever,and its low wage job as its only part time,so for the last 7 years im basically lived from payday to payday.Only thing is every month i would save whats left into my savings account.
Now im at a point where im even ready to give up on my job,as time put in given transportation resources food alone to work is cutting even deeper into my wages,and its just pure hell staying at low point job for almost a decade.
Now over past couple years im close to saving near 5 thousand,well a bit less but have means to go up to 5k as have family member who kept track of forex when i gave up.
So need thoughts as its only matter of time once i decide to leave my job what to do next.And since basically only real skills i poses its being good at IT and catching up with technologies,can learn most stuff quickly,and best one can spend 24h if need be working on the screen.
So would like input from people who dared to go this way and answer few questions to me
1:if i was to go back to trading which would be locked to leverage 1:1 or at most 1:2 and only trade one instrument at the time (with medium volatility)
,id need to make at least over 100e a month to cover my main costs.but saying that ,i know that its easy to get trapped in the trades that might take months to turn any profit.
2 second thing is 5k opens few bigger brokers but,for years that ive been trading i used Oanda as my main one,and hadnt much issues,but trusting someone with 5k is little concern to me when i would decide to move all funds back or so on.
3.and another question is it worth the risk,given my history i know biggest flaws i made and,can agree that it takes more then 2-3 times to learn from same mistake,i would be securing myself with only trading 1:1 and basically monitoring trades,as i would let more experienced members of family to make the decisions.
4th and final question is 5k enough to get started if im looking to go this way,with no other income supplementing me and concentrating all focus on trading full time,as i know id be in micro lot section and best outcome would be around 0.50c on a pip up or down.So basically in most cases the only streategy being used is only trading amount i have thus leaving little risk to incur huge losses,yet i can imagine scenarios where some trades might take months to turn green,and broker would charge for every day open position,thus incurring small looses for long periods of time.
basically if i asked if its doable most people say yeah,like everything else if you put all your efforts in it.but at the same time my goal is to switch my crap job (i know i have one at least
) to full time trading with funds that i have,now i know its easier to say stay at the same job and do trading,but ive learned while its possible to do that at the same time not seeing whats going on and missing on good trades and closing at right times cost me good fortune none the less,because of just not being there when it all happened.
I know this is long post and posted in Rookie section,but anyone who when outside the box and did it would be good to hear your story pros and cons.thank you
Now once i realized my mistake i gave up on it completely,and took time off-just forgetting everything ive learned and any interest in trading what so ever.
and went back to my usual work which is stacking shelf's in grocery store and doing whatever crap im told,no brain in involved what so ever,and its low wage job as its only part time,so for the last 7 years im basically lived from payday to payday.Only thing is every month i would save whats left into my savings account.
Now im at a point where im even ready to give up on my job,as time put in given transportation resources food alone to work is cutting even deeper into my wages,and its just pure hell staying at low point job for almost a decade.
Now over past couple years im close to saving near 5 thousand,well a bit less but have means to go up to 5k as have family member who kept track of forex when i gave up.
So need thoughts as its only matter of time once i decide to leave my job what to do next.And since basically only real skills i poses its being good at IT and catching up with technologies,can learn most stuff quickly,and best one can spend 24h if need be working on the screen.
So would like input from people who dared to go this way and answer few questions to me
1:if i was to go back to trading which would be locked to leverage 1:1 or at most 1:2 and only trade one instrument at the time (with medium volatility)
,id need to make at least over 100e a month to cover my main costs.but saying that ,i know that its easy to get trapped in the trades that might take months to turn any profit.
2 second thing is 5k opens few bigger brokers but,for years that ive been trading i used Oanda as my main one,and hadnt much issues,but trusting someone with 5k is little concern to me when i would decide to move all funds back or so on.
3.and another question is it worth the risk,given my history i know biggest flaws i made and,can agree that it takes more then 2-3 times to learn from same mistake,i would be securing myself with only trading 1:1 and basically monitoring trades,as i would let more experienced members of family to make the decisions.
4th and final question is 5k enough to get started if im looking to go this way,with no other income supplementing me and concentrating all focus on trading full time,as i know id be in micro lot section and best outcome would be around 0.50c on a pip up or down.So basically in most cases the only streategy being used is only trading amount i have thus leaving little risk to incur huge losses,yet i can imagine scenarios where some trades might take months to turn green,and broker would charge for every day open position,thus incurring small looses for long periods of time.
basically if i asked if its doable most people say yeah,like everything else if you put all your efforts in it.but at the same time my goal is to switch my crap job (i know i have one at least

I know this is long post and posted in Rookie section,but anyone who when outside the box and did it would be good to hear your story pros and cons.thank you