April 20, 2009
The Forex Future
12:37 PM | 
Posted by
db
I mentioned last that I was going to be investing in the Forex market, specifically those softwared propored to make you millions every minute. After looking into things a bit more, I have discovered there is no real reason to leap without looking around first. That is, unless I simply want to give my money away.
It is recommended that people interested in trading in Forex open a mock account and play around with fake money for about 6 months before using actual funds. This seems like a good plan, however I don't really have the time to invest in a 6 month crash course on how to lose money. My learning curve has to be much smoother than 6 months.
This is not to say I believe I am smarter than the experts. I do not claim to have some inate ability to trade forex that developed within me at birth. What this means is, I have to find a way to get myself up to speed faster than the experts recommend. I believe the experts, and I am more than willing to put the work in. I simply do not want to wait for my skills to mature all on their own.
Luckily there are options. First, I am going to do some hardcore offline research. I need to familiarize myself with the terminology and the mechanics of what is happening. Without being fluent in the Forex slang, I have no hope of finding good tips or help when I fond myself betwixt the rock and proverbial hard place.
Second, I an going to try to find a mentor who is willing to teach me the tricks of the trade. If I can find someone who has been through the ups and downs and knows ways to avoid the pitfalls, then at least I don't have to learn through experience. I can glean this knowledge through someone elses trial and error.
Last, I am going to purchase one of the many automatic softwares so I can set it up with what I hope will be a good money making schema, and let it do the work while I tend the the other thousand tasks I have to accomplish on a daily basis. Hopefully if I have done my homework, and learned all there is to know I will be able to utilize an automated system more effectively than those trying to plug it in out of the box.
In the meantime, I have begun promotion of my website, and will continue to try to earn as many pennies per day as humanly possible. I am not one to put all my eggs in the Forex basket, but I am going to push hard for this scenario as I firmly believe it can work. Though I always tend to keep in mind the wise words of Chuck D.
"Don't believe the hype!"
It is recommended that people interested in trading in Forex open a mock account and play around with fake money for about 6 months before using actual funds. This seems like a good plan, however I don't really have the time to invest in a 6 month crash course on how to lose money. My learning curve has to be much smoother than 6 months.
This is not to say I believe I am smarter than the experts. I do not claim to have some inate ability to trade forex that developed within me at birth. What this means is, I have to find a way to get myself up to speed faster than the experts recommend. I believe the experts, and I am more than willing to put the work in. I simply do not want to wait for my skills to mature all on their own.
Luckily there are options. First, I am going to do some hardcore offline research. I need to familiarize myself with the terminology and the mechanics of what is happening. Without being fluent in the Forex slang, I have no hope of finding good tips or help when I fond myself betwixt the rock and proverbial hard place.
Second, I an going to try to find a mentor who is willing to teach me the tricks of the trade. If I can find someone who has been through the ups and downs and knows ways to avoid the pitfalls, then at least I don't have to learn through experience. I can glean this knowledge through someone elses trial and error.
Last, I am going to purchase one of the many automatic softwares so I can set it up with what I hope will be a good money making schema, and let it do the work while I tend the the other thousand tasks I have to accomplish on a daily basis. Hopefully if I have done my homework, and learned all there is to know I will be able to utilize an automated system more effectively than those trying to plug it in out of the box.
In the meantime, I have begun promotion of my website, and will continue to try to earn as many pennies per day as humanly possible. I am not one to put all my eggs in the Forex basket, but I am going to push hard for this scenario as I firmly believe it can work. Though I always tend to keep in mind the wise words of Chuck D.
"Don't believe the hype!"
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