I'm betting the farm on forex

You want more risk/reward go trade nadex, way easier then forex.

Could I get extra pomme frites sauce too?

A visit to the local casino would give you better odds.
Roulette, odd numbers are favorite this month.

Well I went down this road actually. I can tell you a bit about what happened. I started at 21 trading stocks and stock options and dropped out of school, went from $8k to $25k to over 6 figures. Ups and downs and blew my accounts several times. Was really broke several times. Moved in with friends and parents a few times. Started some side businesses to get money to fund another trading account. Still have side business.

So if you are serious about trading for a living then be ready and willing to accept a roller coaster ride and have the stomach to handle unpredictable events and times where you'll have a bunch of money and times where you'll be broke. It isn't for everyone, I think people who value security and having a regular paycheck would get ulcers with having to deal with all these issues.

Here's bits of advice for you, these are things I had to learn.

1. Cash out consistently when you have profit and nice windfalls. Use some of that money to sock away into other assets ASAP when you have enough to pay bills or put it away just in case you need capital later on down the road.
2. Never get cocky or arrogant when you do have a huge profitable week, month, or year because right after you do, then disaster might strike and you could lose it all.
3. Figure out if your starting capital is enough to sustain your lifestyle and pay your monthly bills. Don't go all in and quit your job/school if you only have $1,000-5,000.

Anyways, good luck. Win or lose don't take it so seriously, you can always trade again as long as you have capital. Oh, one more bit of advice, don't rack up tons of credit card debt to fund trading accounts or rack up tons of it to pay your monthly bills on a losing streak. And don't take out any personal loans for it. Don't borrow from family either. Make sure you have at least 3 months of living expenses.

Great post

...

I thought about it and here's a few more things I would tell myself if I was thinking about going down this road again when I was 21. NO ONE told me these things when I was young and thought I knew everything and what I was doing and that I was such a great trader. Haha, rolls eyes at myself.

I started a lot of my accounts at $5,000-$25,000. I actually managed to scrape together $25,000 (daytrading requirement) 3 times to start over, arghhh, it was difficult and everything I had at those times. Forex is easier in a way than stocks and options so I'm happy I'm doing forex instead of that. But the challenges are similar.

You have to manage several conflicting goals/challenges with dealing with money management of your account. Here's an example:

You start with say $10-15k. In forex that is good enough. But if you were trading stocks/options, you'd need at least $25-30k (even then it's really hard).
1. You want to pay your living expenses and bills. Say $3k a month. So you NEED to make at least that. Imagine the pressure of it every month weighing on you.
2. You have to cover losses and pay taxes. I wish this wasn't the case. So if you lose $2k, you need to bring the account back to where it is before you can take out money. Double stressful.
3. You want to take out EXTRA money to put into a savings account for emergencies or to save up capital for in case something happens and you blow your account. It happens.
4. You want to grow your original account so that you can stop living on the edge. If you had a bigger account, say $100k then all these challenges would be easier to deal with. But my family is poor and I never ever started with $100k. So in your haste to grow your account you take more risks and you do more dangerous things which has the effect of damaging your account or blowing it all.

Emotional and psychological stress big time. Like sleepless nights and cold sweats of "what the heck am I doing? All my bills are due, arghhh..." No health insurance unless you pay for it yourself. When your friends have steady $50k a year jobs at nice corporate offices and they ask you what you're doing and you're like "oh I'm daytrading." And they say "wow, you must be making good money." Haha...sometimes. Family/friends telling you that you're wasting your life away when things suck.

What do you have to deal with when times are good? Well, friends and family thinking that YOU should pay for dinner, buy them things, and take them on trips when you're thinking "finally I'll have enough money to sock up for an emergency fund, go on vacation, buy a better car, etc. before the next disaster." People getting jealous of you when you are finally taking it a bit easier and enjoying yourself and saying things like "oh it must be so easy for you, I have to go to work and you get to stay home and make all that money. So some of them forget the way they look down on you and the mean things they say when things were bad and they've flipped to being nicer to you. In this business, you really find out who your true friends and family are.

I really wish someone told me all that.

Great advice! Thank you for sharing.

I would like a small coffee and a #3, just the sandwich please. Thank you.

I like your boldness.

I have no buts just a simple reminder of what I have learned from experience
"Never think in a straight Line"

Although yes you have nothing else but to survive when you have burned your boat.

Have a successful trading Experience!!!

6 figures and you blew it up ? I would have felt devastasted. From nothing to millions i'd have withdraw most of it, and go back to the beginning.

But thanks for sharing your experience