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Originally Posted by coollikeme  I always had this desire to be a broker, mainly of the stock market variety. I started noticing ads for Forex all over the place. So my wife and I went to a Forex seminar to check it out. I loved it; it was something I thought I could do. The program was 3000 dollars to join, and we did not have the money to join. We could not afford it. I was upset, we were always broke!! That was one of the reasons why I was ready to try something new. "My wife said there is got to be a cheaper way to learn about investing in the forex". We decided we were going read, and do everything on your own.
So after a year of reading, and going on the Internet and learning what we can. We finally saved up 700 dollars and we were ready to go. We established a forex account, and the trading began. It was great knowing we could get up every morning having a chance at making some money. The first day we tried it; we made $51.14. "Yah baby" trading was on. Day 2 we made $23.62, it seemed all are hard work paid off. Then reality set in. We lost a lot after that, and in about 6 months we lost the 700 dollars we put in. This is where a lot of the books we read help us.
We were obviously pissed off!! But even in losing money we were learning from are mistakes, and knew we needed to learn more. So with in another year we managed to save more money, and do more studying in that time. Now we took on the challenge of doing not only Forex, but also the stock market to. We have a trading account for each. We are doing a lot better at trading now. Some day we will be doing this full-time. Glad we did not give up. Lots of times I read blogs about whatever business you are trying to run people, just give up. Don't give up!! If something does not work try something different, and be a little patient. Just never give up. I lost 700 dollars 3 years ago, now my account is up to
$3120.52 on my way to millions. I can't say it enough. Don't give up. |
Good on ya mate for persistence and determination.
Whatever works for you.
I have always found that by taking a
long term buy and hold 'the market/index' approach; it has freed me from having to study/worry/ about the investment AND avoid extraordinary large and onerous charges by frequent trading. A $40 trading commission on a $700 dollar deal is almost 6% and thats before the spread (diffrence between buy and sell price) is accounted for. Frequent trading kills profit.
I have consistently matched the market by my approach. Over the long term those, no brainer LTB&H investments have seriously capitalised growth and thats without counting all the dividends I have received.
Every investment has it's good days and bad. I cant afford the time you put in mate; so hat off to you. I hope it works out
