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Originally posted by BlackStar99
Originally posted by bagodonuts
reply to post by BlackStar99
I couldn't agree me more. The reason I say this is because I've fallen into the trap and can't presently get out. I, however, am lucky enough to have parents that are willing to loan me the money for school. I feel much better paying them a modest interest rate and keeping the money in the family rather than paying to some off-shore banksters.
Blackstar, may I ask how you got started in daytrading and what your recommendations would be for someone who wants to take a crack at it? I'm sure a lot of folks on this board would be interested in breaking out of the hours for dollars paradigm.
Of course. I'm always open to mentoring people, so if anybodies interested let me know. To start go here(babypips.com/school) and finish the school. It's probably the best resource online for learning forex(foreign exchange) as well as forums like this that are specifically for forex trading. After you finish, I'll give you the specific system I use to trade that nets me 20-30% a day. I mean I could just give everyone the system, but I think you'll be much happier understanding all the fundamentals first.
Indeed, having someone who understands the fundamentals helps, but its also a good way a weed out people who really don't have the conviction to go through with it.
I wonder how much cash it really takes to get started doing forex. 20-30% sounds flashy, but I bet over time you get pretty limited by volume and it worse if you're risk averse. Still, I'm sure its a little something more besides working for a local grocery store.
There really aren't any survival jobs available around my area, so this is something I have to look into.
I'm generally stuck behind the computer screen most of the day like a fair amount of people my age and I'm already familiar with some of the concepts of being a day trader due to playing EVE Online.
I went through some of the beginning last night and saw what I expected to see for the beginning section, though I'm sure it will get significantly more complicated as I go to the end in a few hours.
So yeah, definitely something I'm interested in doing. I'm sure I'll be able to experiment seeing as some sites offer free 'play chips' to get a feel on how to do things like this. However, I'm sure the free chips method has its drawbacks due to the play chips not actually showing up in the volumes in reality.
My parents are insisting that I do more college (went to Blackhawk Technical and DeVry Online) so as theoretically be able to get a job. However, I'm not willing to gamble with debt and I am absolutely unwilling to budge from that position. With the employment opportunity around my area it probably won't be enough to pay off any debt I accumulated let alone pay any significant bills so I can survive. I know this nations currency is eventually going down the drains so I will do what I can to accumulate silver to stave off inflation on a personal level. Perhaps I could end up paying for a hobby that will allow me to do real research into what I really want to do with my life as well as potentially show to employers or investors exactly what I am capable of.
Well, college is a racket and I intend to hit you up soon perhaps for a little mentoring on how to be a good forex trader after I do what you suggested. Oh, and I hope to meet donuts along the way
Originally posted by graphuto
Watching this, something just kind of blew my mind.
Average cost of college 4 year degree is 27K.
There are roughly 300.000.000 Americans.
27000 X 300,000,000 =
8.1 Trillion dollars.
The better part of our national deficit.