Hello...I'm new to the Forum, Can someone offer me some honest advice?!

TaffPhillips

Recruit
Messages
6
Hi there

I'm Taff and have signed up here to get an insight into ForEx Trading. As well as general study I am after some advice regarding ForEx Trading as a supplementary income. I'll give you a bit of background and options I am considering and hope some of you out there can offer some good advice?!

I currently live in the UK and am coming to the end of my Military Career, time for a change of direction! After 2 decades of foreign commitments and little family time I am looking to recalibrate some work/life balance. With considerable experience in Engineering and studying for my MBA a Senior Management position after this career is feasible but not where I want to go, now working from home is what appeals to me!

I will be leaving my job with a reasonable pension will should support my (and family's) basic needs but need to top up that income to sustain the quality of life I desire. I don't want to get rich!! Just live a comfortable, quiet life.

So, the options....

Spend the next 18/24 months Learning, Researching, Practicing and Developing Strategies and Risk Plans before...

1. Leave the Military and utilise some of my Pay Out (£50k) to fund my own trading account. I have run some projections and to achieve what I am after would need to generate about 0.5% profit on average per week reinvested for three years to achieve my aims. (Y1 - £16k before Tax, Commissions Etc) After this I will reassess as I believe the model will change.

2. Leave the Military and Trade for a Proprietary Trading Company and hope to generate enough profits to allow me to withdraw profits in smaller amounts.

Obviously each has its differences, mainly risking or not risking my own capital vs Profit Margin. All I read is horror stories on the net about Day Traders losing all their money, living a life of ruin etc etc. Plus all the scammers out there who will let you trade for them with a FREE Billion Dollar account for the small fee of Ten Billion Dollars a month, an so on!!

All advice is Welcomed.

Good Luck all

Taff
 

danielsoy

Sergeant
Messages
161
I may sound a lil extreme, but the whole financial system is a ponzi scheme if we dig to the bottom,
in my humble opinion.

Look what happens when investors get scared and want their money back, fund managers reply that
money is invested, but the true is that money is gone, and they pray for new customers to fill the void of $$$.

That dont mean that none can make money here, wich is possible for the ones at the top of the hill,but
for average Joe, it seems very hard in the long run.
 
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