That’s the beauty of forex market that there is no age limit. If you think that you are able to trade and you have the potential to handle the variability and uncertainty in the forex market then forex is the best profession I believe. It will give you independence of work; you can trade at time, day or night. Apart from your regular work, you can be able to trade with smaller to big amount as you want.
Thank you for your information. I was told that day trading is a different intensive game. If you can do it, you can do it within 1 year. If you're not smart enough to join the game, you will be kicked out soon, no need to spend years to prove that.
I'd say this is untrue. In fact, you'd have a difficult time accumulating the requisite knowledge in even 2 or 3 years. At least without having some background that broadly transfers to it. Never mind that a single year will only expose you to a fraction of market cycles.
There are many things to consider, the biggest risk that you are taking is your opportunity cost and mine was very high. I went to school, got a half decent degree and rejected a good job that had the potential to make big bucks so I can become a trader. Got a part time job and started trading about 7 years ago, took me about 2 years to become profitable thankfully I started when I was still in school so when I started working part time I was already making money trading, but it wasn't much because of low capital. Took me another 3 years to get a decent sized account and got a good chunk of money from some friends to trade with as well. I make decent money trading now, probably more than I would have if I took the traditional route out of school. But consider that you have no benefits, to retirement, no salary, no one to fall back on. And eventually your edge will fail. If I can get another 7-8 years trading the way I have been the whole journey would have been worth it I can walk away with a bit of cash if not I'm in big trouble. I will be a 30yrld with no real job experience or real skills in the workplace and who would be almost unemployable. So consider your risk and think long and hard if you truly want to do this, you must live it to succeed trading you cant be on the fence about it. Goodluck!! apo
Well, actually I decide to give it a try no matter what. I have wasted so many years in my 20s, I don't want to continue to waste my life on something I'm not that into in my 30s.
I know there are some successful day traders. Also I know there are much more unsuccessful day traders whom are ignored. If I keep losing money in day trading, I believe I won't spend 5-10 years in this.