Question:
I am a qualified Chartered Management Accountant (CMA). I actually started forex trading in 2007 wherein I doubled my investment and then got completely wiped out (that was a time I didn’t have any trade plan nor knew any basics of trading. It was more of a gut feel thing and the excitement of knowing the new leveraged ways of trading.). I then gave up this up and concentrated on my CMA, which I did complete in 2008.
Recently (3 months ago) I again decided to transition to being a full time forex trader. This time aiming to be systematic and disciplined, trying to build on the costly errors I had done before. I returned to trading because I strongly feel that it suits my personality. In addition, my accountancy skills have given me better insight into the money management techniques.
My idea is to create wealth, by this I mean having the freedom to choose my way of life rather than being stuck in the 9-5 office world. By no means do I dream of becoming an overnight millionaire. I want to create a steady income and gain confidence month by month. I have done some training (provided by FXCM), and as a next step now want to learn about the intermarket analysis, as well as develop an appropriate trader psychology. I haven’t made any money since my return, but I do understand that I need to start small this time and work my way up.
What in your opinion do you think about me (given a bit of my work history), my game plan, my change of careers etc… I would greatly appreciate your contribution as to how I can enrich
my trading career.
Raj from Thoughtful town
Answer:
Raj, I think what you are doing is great. At this point, it would appear you are doing what you need to do to enrich your trading career. Just stay with it, and as you go along, let me know how you are doing.
Trade in the day; invest in your life …
