Forex - The ultimate Fastlane (?)

[MJ DeMarco]

Yes, it is the ultimate Fastlane.

Not trading it, but convincing people they can make 15% a month doing it, and then sell them the whole kit-and-kaboodle; training programs, seminars, books, trade strategies/alerts, bots, and boom!! Fastlane!

Every week you'll have a new batch of young believers yet to be burned by reality!

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[ZCP]

@raad182 damn, dude. didn't know this thread was going on too.....

stop asking. start doing. while you are doing, paths will open up. opportunities will present themselves. you will learn much and then be able to set a path.

you are in a rowboat in the middle of the ocean. you have no idea which way to go to reach land (success).
- if you sit still, you are F*cked
- if you start rowing, even in the wrong direction, you will do two things:
1. determine if that was the right direction
2. you will get F*cking stronger. so when you do see land, you will get there more quickly.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[eliquid]

The problem is, your expectations about everything in this project/idea are wrong.

I'll point out just 1 of them.

You mentioned $50k and 4% return being $2k. Yes that is the math, but that is NOT how you trade Forex ( or crypto or stock, etc ). You will be bankrupt in 2-5 trades once you start.

You never, never, never, ever use 100% of your bankroll. This is how noobs lose their shirt and more.

You only risk maybe a few % of your bankroll per trade. This way if you get into a bad trade you can exit quickly and do another trade. This way, if you only risk 2% of your bankroll per trade, you can lose many times before you are "out" to try to regain and move up. If you risk 100%, you will be hurting by your 5th trade big time.

It doesn't matter how many times you "practice" on a demo account, playing with real money is different.

This is just ONE example of how your expectations of how this works is very wrong.

I am not trying to scold you or be harsh, but you really have a while to go to understand how this really works before jumping in.

If you are hoping to use $50k and get 4% to profit you $2k per month, you need a bankroll of a couple million to play with so you don't end up at $0 after 5 trades.

.

 

[PizzaOnTheRoof]

I guess I should just forget about Forex, unrealistic expectations

By now I can't think about anything else to start, Im starting to few sick with all this energy burning inside me while Im sitting here on my cubicle.

I will just resell some pens to build some momentum and expect some eureka.

Dude you are all over the place. Go read the gold and notable threads and take a couple days to chill out.

Since you’re so insistent on having a step-by-step plan, do this exact thing and only this thing next week:

Step 1: Physically walk into 25 local businesses.

Step 2: Ask to speak to the owner and tell them “Hello, my name is ____. I’m working on a personal project and am surveying local business owners about challenges they face while running a business in 2019. Could you give me a couple ideas?”

Step 3: Relish in all of your new business ideas.

Step 4: Pick one and create/offer a solution.

Step 5: Call the business owner who had that problem and offer it to them.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[ZCP]

Thanks for the answer...Final thought, Poker vs Forex? I have 4hours/day to invest. Which one would provide me the " drinks on the beach " lifestyle?

This hurts my soul. Wish you luck, brother.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[FxStrong]

I know that its very hard to make any money consistently for a long period of time with forex trading but I've seen pro traders saying that an average of 8%/month is pretty doable if you put the effort.

Why isn't forex mentioned as one of the best fastlane options?

Pros
- You can work from anywhere as long as you have a laptop and internet.
- Flexible hours (Market 24/7)
- No bosses or direct contact with customers.
- No selling
- No networking
- Acquire useful knowledge about global markets, trends, finance and economics.
- There is no limit on how much you can make (or lose too) unless you use stops.

Cons
- Requires a high level of personal skills (patience, risk management, data analysis, economics...)
- Requires emotional intelligence
- High risk
- Addictive
- Checking charts and news daily
- Constant ups and downs


Last night I was thinking on what skill should I focus on this year and a routine of a trader is really what I'm looking for, independent, flexible, high risk and high reward, fast pace, agressive and competitive. Besides that I've read that most of the pro traders uses robots and system so they just need to put something like 2hour of work per day.

I live a really simple life and my cost of living is really low so If I start with 50k and average 4% monthly(2k), I could consider myself to be free from the 9-5 world, of course I know that there is a long road before seeing any profit and the majority of traders lose money but we aren't the majority here, right?!

Raad, I literally registered an account so that I could respond to this thread. I did this because my thinking has been along this line for a very long time.

I'm currently a profitable Forex trader made over 100% in 2018. So the returns you are looking for are very doable. However, some of the verbiage you are using worries me. Let me go through them here:

"Flexible hours (Market 24/7)"- this is a blessing and a curse. I can not tell you how many hours of sleep I've lost worrying about positions or what kind of news came out. So this is not a "Pro" to me. If you use these markets as a source of entertainment you'll be humbled quickly.

"No selling/No Networking". Yes, this true in a normal have to make a presentation setting. However, the learning curve for knowing what information to trust and how to filter information is quite steep.

"You can work from anywhere as long as you have a laptop and internet." This is true. However, we're talking about a performance sport here. If you think you can sit in Cancun sipping Pina Coladas and beat some of the best in the world. You have another thing coming.

"Acquire useful knowledge about global markets, trends, finance and economics". Just want to make a distinction here. There is an enormous difference between reading a bank report and having an opinion at Christmas dinner. Again, as stated above this will require a filter that only experience will provide. Your college economics class will do little to help you.

The bottomline Raad is this. If you think you can read a book or use a system from ForexFactory its not going to happen for you. You need to be 110% committed to improving as a trader everyday. Over the last 3 years I've committed 4 hours a day (not including market hours) to backtesting, meditation and education. Finally, after years of labor I'm starting to see solid results. There will be soul crushing moments Raad I promise you.

I would never try to talk someone out of being a trader. Honestly, the person you need to become to be a consistent trader is worth the process. However, I'm sure there are easier ways to make money than Forex trading. You have to love this game to play.

 

[Jechua]

8% a month is not 'doable'

 

[JG17]

I don't see how trading can be the ultimate fastlane if it requires a lot of time and manual effort on your part. Maybe it could be the ultimate lifestyle according to your goals but I wouldn't call it a fastlane or even a business.

Not an answer to the OP but do you guys outside of the UK get a lot of Forex gurus on Instagram, advertising their luxury lifestyle along the lines of:

"I'm so successful at Forex trading by the age of 22 that I don't want to spend all day doing what I'm actually good at i.e. trading, instead I want to help YOU become financially free! All you need to do is let me set you up an account with a broker that I have an affiliate partnership with and I will then receive a % of your deposit (or a flat fee per sign up) and you'll get access to a 90 day free trial for my signals and be able to earn hundreds per month following my trades! Don't worry about how I have time to do all of this and maintain my status as a top tier Forex trader, and by the way it's none of your business why I still live with my parents even though I'm so successful"

Seriously I am seeing a huge amount of these people pop up in the past 24 months and really can't believe people are stupid enough to believe it.

 

[James Fake]

No knock on Forex or any asset trading system.. but my personal opinion is this:

Provides zero value to society.

You could argue in a way you contribute to helping fund capital for companies to grow.. but my take is this..

To get good, it takes a self-mastery of emotions that takes years and years to perfect. The opportunity cost of not creating value elsewhere during a tech explosion stage in human history is not worth it imo.

 

[SquatchMan]

Why isn't forex mentioned as one of the best fastlane options?

It's not a business.

Your goal is $2k/month (kind of small, but whatever). There are a lot easier, and less stressful, ways to make $2k/month than Forex trading.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[ljean]

Go explore autumngold.com and iasg.com to review the actual documented returns of professional futures and forex traders. Ignore any track records < 10 yrs and keep in mind there is significant survivorship bias. It will be a sorely needed reality check as to what is feasible in this business. I have a feeling you will be disappointed.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[sam502w]

I know that its very hard to make any money consistently for a long period of time with forex trading but I've seen pro traders saying that an average of 8%/month is pretty doable if you put the effort.

Why isn't forex mentioned as one of the best fastlane options?

Pros
- You can work from anywhere as long as you have a laptop and internet.
- Flexible hours (Market 24/7)
- No bosses or direct contact with customers.
- No selling
- No networking
- Acquire useful knowledge about global markets, trends, finance and economics.
- There is no limit on how much you can make (or lose too) unless you use stops.

Cons
- Requires a high level of personal skills (patience, risk management, data analysis, economics...)
- Requires emotional intelligence
- High risk
- Addictive
- Checking charts and news daily
- Constant ups and downs


Last night I was thinking on what skill should I focus on this year and a routine of a trader is really what I'm looking for, independent, flexible, high risk and high reward, fast pace, agressive and competitive. Besides that I've read that most of the pro traders uses robots and system so they just need to put something like 2hour of work per day.

I live a really simple life and my cost of living is really low so If I start with 50k and average 4% monthly(2k), I could consider myself to be free from the 9-5 world, of course I know that there is a long road before seeing any profit and the majority of traders lose money but we aren't the majority here, right?!

I have been a forex trader for one year. Real money. Just now breaking even....after one whole year and untold hours of study and practice. Fastlane? Don't think so but here is my take:
Control: it is all about my strategy, my risk management and my psychology. And the last one is very difficult for a variety of reasons. I'm not working for someone else in this.....

Entry: 90% lose money. It is very difficult but not impossible. It takes knowledge and skill. It is not easy money. But it can be very profitable.

Need: it is a zero sum game. When I win, someone loses, when I lose someone wins. Buyers do need sellers and seller need buyers. When to be one or the other is the deal.

Time: can work in your favor. You don't have to sit in front of your computer. You can place your trades on the weekends if you are a longer term trader and check a few minutes a day to adjust.

Scale: I monitor 28 currencies. You scale by trading more currencies and as your bankroll increases you increase how much money you trade with.

Trading isn't gambling. But it is very difficult to learn. I feel confident as my skill increases I will be profitable moving ahead. Caution: there are many charlatans around and youtube is full of them. There are very few reputable teachers out there. I found one in Texas and one in London and its made all the difference for me.

 

[NeatStranger]

Realistic monthly returns for a Forex trader?

Anywhere from 2-20% for retail traders and Wall St traders 12-20%

I think you are missing the fact that the best Wall St traders in the world earn 12-20%/ per YEAR.

If you have read either of MJ's books, you would know that you can be better than the best traders in the world but it is highly unlikely. This is why Forex isn't fastlane.

If you start a business selling widgets, you only have to be better than the 10-20 other companies selling widgets, but if you start trading forex, you have to be better than every single other person in the world who has a brokerage account, and a few thousand bucks. Not to mention all of the ivy leave math genius wall street guys.

Save your time, find a problem to solve that adds value to the world and create a business out of it. Make something better, try to make yourself a problem solver.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[jesseissorude]

Final thought, Poker vs Forex?

I just wanna draw your attention to the fact that—in your mind—trading and LITERAL gambling both seem like equal alternatives.

Instead, try this:
-Name a customer community that you would wake up every morning eager to help. Ideally you’d also be a part of that community yourself. Dont be afraid to niche. Think: weightlifting grannies, new mothers interested in nutrition, businessmen with bushy moustaches, whatever.
-Find 25 people that fit in that customer community and ask them out to coffee
-Don’t pitch them anything. Just ask questions about their experience and listen. After 3 convos, you should start noticing some common pain points they share.

It may be that you have to repeat this process a few times, but I can guarantee results... no need to buy my foolproof course (“Act now! This offer won’t last long!”)

Best of luck brother. Short answer: What you are describing is not fastlane

 

[raad182]

I know that its very hard to make any money consistently for a long period of time with forex trading but I've seen pro traders saying that an average of 8%/month is pretty doable if you put the effort.

Why isn't forex mentioned as one of the best fastlane options?

Pros
- You can work from anywhere as long as you have a laptop and internet.
- Flexible hours (Market 24/7)
- No bosses or direct contact with customers.
- No selling
- No networking
- Acquire useful knowledge about global markets, trends, finance and economics.
- There is no limit on how much you can make (or lose too) unless you use stops.

Cons
- Requires a high level of personal skills (patience, risk management, data analysis, economics...)
- Requires emotional intelligence
- High risk
- Addictive
- Checking charts and news daily
- Constant ups and downs


Last night I was thinking on what skill should I focus on this year and a routine of a trader is really what I'm looking for, independent, flexible, high risk and high reward, fast pace, agressive and competitive. Besides that I've read that most of the pro traders uses robots and system so they just need to put something like 2hour of work per day.

I live a really simple life and my cost of living is really low so If I start with 50k and average 4% monthly(2k), I could consider myself to be free from the 9-5 world, of course I know that there is a long road before seeing any profit and the majority of traders lose money but we aren't the majority here, right?!

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[raad182]

@raad182 damn, dude. didn't know this thread was going on too.....

stop asking. start doing. while you are doing, paths will open up. opportunities will present themselves. you will learn much and then be able to set a path.

you are in a rowboat in the middle of the ocean. you have no idea which way to go to reach land (success).
- if you sit still, you are f*cked
- if you start rowing, even in the wrong direction, you will do two things:
1. determine if that was the right direction
2. you will get f*cking stronger. so when you do see land, you will get there more quickly.

I just felt like my mom catched me doing something wrong lol

But yes man, you are right and today was really good to read your words and the others users here.
I was expecting some support from the forum but seems like people here are really interested in helping others and I really appreciate.

Thanks for your time and words, tonight I will spend some time alone to digest the advices I've received today and press the " action " button.

 

[MTEE1985]

Realistic monthly returns for a Forex trader?

Anywhere from 2-20% for retail traders and Wall St traders 12-20%

A) you linked a forum full of people who are speculating

B) those percentages you wrote above are yearly and not monthly

C) why are you asking us if you believe in it? You don’t need our (or anybody else’s) permission

 

[Xeon]

do you guys outside of the UK get a lot of Forex gurus on Instagram, advertising their luxury lifestyle along the lines of:

"I'm so successful at Forex trading by the age of 22 that I don't want to spend all day doing what I'm actually good at i.e. trading, instead I want to help YOU become financially free! All you need to do is let me set you up an account with a broker that I have an affiliate partnership with and I will then receive a % of your deposit (or a flat fee per sign up) and you'll get access to a 90 day free trial for my signals and be able to earn hundreds per month following my trades! Don't worry about how I have time to do all of this and maintain my status as a top tier Forex trader, and by the way it's none of your business why I still live with my parents even though I'm so successful"

All day every day on the newspapers (they probably just started on IG). Been seeing this since several years ago or earlier, probably even a decade ago. The same exact style of writing.

 

[raad182]

The problem is, your expectations about everything in this project/idea are wrong.

I'll point out just 1 of them.

You mentioned $50k and 4% return being $2k. Yes that is the math, but that is NOT how you trade Forex ( or crypto or stock, etc ). You will be bankrupt in 2-5 trades once you start.

You never, never, never, ever use 100% of your bankroll. This is how noobs lose their shirt and more.

You only risk maybe a few % of your bankroll per trade. This way if you get into a bad trade you can exit quickly and do another trade. This way, if you only risk 2% of your bankroll per trade, you can lose many times before you are "out" to try to regain and move up. If you risk 100%, you will be hurting by your 5th trade big time.

It doesn't matter how many times you "practice" on a demo account, playing with real money is different.

This is just ONE example of how your expectations of how this works is very wrong.

I am not trying to scold you or be harsh, but you really have a while to go to understand how this really works before jumping in.

If you are hoping to use $50k and get 4% to profit you $2k per month, you need a bankroll of a couple million to play with so you don't end up at $0 after 5 trades.

.

I guess I should just forget about Forex, unrealistic expectations

By now I can't think about anything else to start, Im starting to few sick with all this energy burning inside me while Im sitting here on my cubicle.

I will just resell some pens to build some momentum and expect some eureka.

 

[socaldude]

I'm a skeptic and a believer in Forex.

Skeptic in that it tends to attract money chasers who just want to make money.

Believer in that if you can put yourself in the 1% in terms of skill you can make some money.

I used to make money trading the peso and dollar interbank rate with the street rate.

The strategy was clear: Leverage difference of two markets, wait for slight uptrend and tight spreads and boom quick $200(2-3 times a week). Bought a Zurich Santander personal insurance plan in case I was robbed(never happened).

The strategy was clear, a pattern was identified and worked consistently.

If you don't have clear rules you lose money and are gambling.

 

[PizzaOnTheRoof]

I know that its very hard to make any money consistently for a long period of time with forex trading...

Why isn't forex mentioned as one of the best fastlane options?

How on earth could this be the best Fastlane option if you can’t make money consistently?!?!?!

C - Not at all but you can use stops.
E - Easy to get started, hard to stay. Requires a high level of certain skills.
N - Not
T - Robots can do the heavy work
S - Systems (automation) - requires monitoring and eventual adjustments. I don't know if compound interest can count as scale.

Here’s my revised version:

C- No assets to own. Could lose large amounts of $$$ overnight. You don’t control the trading platforms/accounts. F

E- To make a lot of money, you need a lot of money. Anyone can create a trading account yet no nothing. Most of us are stuck somewhere in the middle. C-

N- No need here! Isn’t that great? Nope. No need means nobody cares, nobody knows you, you have no reputation...unless you’re selling courses. C-

T- Huge time suck while you’re building your “system”. Then it’s relatively hands off. B-

S- Only way to scale is to (ironically) stop day trading and start hustling courses, ebooks, etc. But only if you’re successful in the first place. C-

I don't see how trading can be the ultimate fastlane if it requires a lot of time and manual effort on your part. Maybe it could be the ultimate lifestyle according to your goals but I wouldn't call it a fastlane or even a business.

Not an answer to the OP but do you guys outside of the UK get a lot of Forex gurus on Instagram, advertising their luxury lifestyle along the lines of:

"I'm so successful at Forex trading by the age of 22 that I don't want to spend all day doing what I'm actually good at i.e. trading, instead I want to help YOU become financially free! All you need to do is let me set you up an account with a broker that I have an affiliate partnership with and I will then receive a % of your deposit (or a flat fee per sign up) and you'll get access to a 90 day free trial for my signals and be able to earn hundreds per month following my trades! Don't worry about how I have time to do all of this and maintain my status as a top tier Forex trader, and by the way it's none of your business why I still live with my parents even though I'm so successful"

Seriously I am seeing a huge amount of these people pop up in the past 24 months and really can't believe people are stupid enough to believe it.

Just to play devils advocate, digital products like courses and ebooks are almost 100% profit margin.

It’s a no brainer business wise but it comes off as scammy when everyone is doing it.

 

[loop101]

If you can consistently make money trading a fake account, there are several platforms where you can charge people real money to automatically follow your trades with their real money. You don't personally need any money to start.

Having said that, I've never seen an "expert forex trader" share their long-term trading results in any certifiable way. I have seen countless traders have a good run, start charging people money for their "system", then crash spectacularly. Those sites where you can follow other traders are full of those examples.

The only people I've seen make consistent profits (over decades) are the brokers, high-frequency traders, and those selling trading courses or selling bots.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[John P.]

About forex, my opinion...
This is me and forex 3 years ago: http://jfxtrade.com/mquantum37/

I was looking for the business of selling metatrader robots. Fully automated or semi-automated. Still, have the webpage... Sell the shovels, right? I thought. Also, it looked for quick bucks. Ok, was also for my benefit. I can't remember the details why I stop, Maybe was not the time for me or...

Met few "traders" that were interested, but apparently, they were not making any money, was small fish. Big fish was laughing at my little thing called trading robot Really, can't recall the details about my adventures in forex, but one thing that left me in disgust was the aggressive marketing around "selling the dream" with forex, I must tell you they're pretty good

Anyway, I think that one can live off anything related to forex.

 

[Stanja1]

Fwiw, my best friend trades Forex successfully. He "retired" to Panama City, Panama a couple years ago after basically winning the Bitcoin lottery. He was an early adopter and had 5000 Bitcoins that he sold at the 20k peak to pocket 100 million plus. He actually flew up to Seattle about a month ago to hang out and "train me" in the advanced/ dark arts of Forex trading. I studied technical analysis/ candlesticks years ago. Things have changed quite a bit.

What I learned:

It seems simple but is very complicated. There are tons of styles and strategies. My friend mostly day trades using convergence/ divergence. However, he also trades long with different accounts. He has custom indicators that are a combination of moving averages, MacD, RSI, etc. It seemed to me that people don't share successful strategies. There are tons of custom indicators out there to purchase, rent, or even for free. The hard part is figuring out which ones actually work and are helpful. Also, it seemed like there are lots of advantages to be purchased. He pays a grand a month for some international squawk service to give him news data 10 seconds before the mainstream. Shady, but obviously advantageous. I think he pays $500 a yr to rent the main indicator that he uses which is MA, RSI, MacD combined relative to volume. Just the word Metatrader gives me a migraine. Certainly not intuitive. I did see him do a trade where he made 300 pips in less than an hour. I think that was a 30k profit in the account he was trading. He thinks that I can easily make 5k a month starting with 25k account with little risk. One thing I do know is that the hours suck. He does not use any robo trading tools, but always uses stop loss and take profit. He has an international hedge fund based out of Belize. I honestly have no idea what that really means. I do know that when he is trying to trade seriously his hours are crazy. The markets move the most typically when they open and when they close. So, I don't think he ever gets 4 hours of sleep. He also has a wife and 2 kids. He is online when the US, European, and Asian markets open and close. And if there is any big news announcement expected, he will be online for that. Can it be done? I think so. Will it be easy? Not for some time. My friend has been trading with real money for 7-8 years.

The books recommended to me were the Jim Brown books that you can find on Amazon. Start with "Forex Trading: The Basics Explained in Simple Terms". If you like it, get the other two. Also, don't waste your time with a Demo Account. Start a Micro account for $500-1000. Best of luck! If I decide to start day trading, I will start a thread. I hope some of my info is beneficial. Ciao for now.

 

[Andy Black]

Thanks for the answer...Final thought, Poker vs Forex? I have 4hours/day to invest. Which one would provide me the " drinks on the beach " lifestyle?

Either? Your job is to take money from people with only 4 hours a day to invest and who want to sip pina coladas on a beach.

 

[ALC]

You can make money from Forex, everybody is doing it wrong.

If you fall for the indicators bullshit of course you're going to get crushed, they've been created by brokers, brokers job is to make money from you.

Trendlines, Naked Price Actions, Key Levels (Zones), Volume & Fibo is all you need, H4 charts minimum.

Learn how the bank trades and you'll make money, not the other way around.
AND NO, it require way more time than you think, unless you master this craft and can hold positions for days which would require only few hours to monitor...you gonna be behind the screen but who cares if you like it.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[FxStrong]

Thanks for the answer...Final thought, Poker vs Forex? I have 4hours/day to invest. Which one would provide me the " drinks on the beach " lifestyle?

Raad182, at some point both of these can get you there. The question you need to answer is which can you go 5 to 7 years without making money? I'm not saying this is your experience but it can be.

 

[MJ DeMarco]

Raad182, at some point both of these can get you there. The question you need to answer is which can you go 5 to 7 years without making money? I'm not saying this is your experience but it can be.

In other words, it's like anything else in life. Put in the tough work, and you can do anything: Trade FX, trade options, play pro ball, start a multimillion dollar business etc. People like to dismiss the 5 to 7 years part... they want to do it part time, one hour per day, all of course while chilling on the beach with a margarita. Thank you for sharing the reality check.

 

[FX Turtle 21]

Hello raad182,

I'm a Forex Trader and have been active for about 6 years now. I also work a full-time job as an Animator.

I'll make this short. After tens of thousands of dollars spent on classes, mentors, diligent practice, making mistakes losing money on both live and demo accounts, I'm averaging 3% - 5% a month. Occasionally, I'll get lucky with a 12% month profit. I only spend about an hour per day manual trading. Sometimes less, as I found a strategy that suits my personality and lifestyle.

I was looking for the same things you're looking for in trading.

The advantage I have is that I love chart analysis and learning about the waves of the economy. If you're in it just for the money, it will be a struggle.

 

[Telamon25346]

actually, before i discovered fastlane i was a HUGE forex fan. i traded for sround 3 years. i used tradingview and tdameritrade to do my orders. i spent most of my time studying as opposed to trading. after my first few months of trading, i lost around $8000 in my account, it was a huge blow. but, fueled by motivation and advice from gurus telling me to "never give up" i went back to the drawing board. i studied technical analysis and fundamental analysis, i would watch whenever bankers like janet yellen spoke, i would watch quarterly reports, i even woke up a few hours before market opened everyday so that i could do some analysis then place my trades.


Honestly im telling you it's not worth it. there's some people that make a lot of money, i had a friend who was 19, had an account of $450,000 or so to trade with. made a considerable amount of money. but for every winner there's a lot of losers, in my eyes trading currencies was easy, but it was like strategized gambling, it was still unpredictable. i even tried trading oil and cryptos through a site called 1broker, but that site got shut down by the FBI for stealing money.

youd have a better chance of being successful (and in my case, in CONTROL) with your money by going fastlane or just starting a business. if you want to, go ahead, but i say please invest your money in yourself first or something worthwhile.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.