RE: How trading changed my life (A story)(featuring @rules169 as author)
Wow again such an amazing answer. Thanks for putting all the work in this.
I'm sorry that you didn't succeed in the forex markets. I agree that the big players control price. That shouldn't be a problem though. I just piggyback their moves. I've seen a lot of people succeed (most failed though), so it is doable. Btw if you play it smart then you can avoid losses like your 2 million to a 100k (aka stoplosses).
I know 2.5 mil is a lot, but that's actually my ultimate goal. The goal before that is 750k. It would give me just enough to pay for my food, rent, etc. 2.5 mil would give me extra luxury.
I've been employed and it's indeed easy. Most of the time is too easy for me. It's not challenging at all. Going to work, doing the same work everyday and going home. The security is the good thing about it.
Anyways ill figure it out. Thanks for your perspective on the things. It helps me to improve :)
Haha, thanks! I didn't say that I didn't succeed. I turned $100 into $5000 just learning the ropes. I think anyone who is sharp will be luckier than most, but me just saying that will probably cause another 50 people to each lose $100 to one other person who may make the same, so I'm not proud of it, and I know it was just luck.
I would probably do okay doing the same with $10k. But would I make it up to $500k? Would it work the same if I started with $100k? Is it the same amount of effort turning $100k into $5m?
I doubt it, because now you're a lucrative target for those who know even more than you do. I've heard of too many people who lost $10k+.
The problem is, that the more you have, the easier it is to risk even more getting debt and leverage and it's tempting.
What if the broker borks your stop loss? Do you have the means to get it out of him? Probably not, and he knows it.
Business is cut-throat and you only realize this once your very life has been threatened by business rivals.
I just sold a share in one of my companies for $100k. I'm not trading Forex with it, or putting it in these insanely overvalued markets - I've put half of it in property and I'm setting up businesses and buying and selling goods and services that people need with the rest, it's not easy money but it's honest business and if hyperinflation or some other crisis hits, I'll be able to add value. Rather than investing, I go to local startup-events and hackathons to see what people are working on and to see if I can team up and help.
And with the $5k I made in forex?! That's my upcoming holiday! Quit while you're ahead!!!