I won't actually apologize for being excited about something that makes me really happy. For years I've wanted to trade on the stock markets, but there was always something getting in the way. For years also, that which was getting in the way was money! I didn't have it. I couldn't really trade or buy because I never had enough to feel as if I was able to either make a dollar back, or be "in it" as they say. I watched it, I watched it all the time. I worked it in my head. I followed it in my mind and online when I got the chance. I will say this, I am too excited now about it. Sometimes I have to stop myself because I will end up discussing pips and zones with people I've never met. These people probably never expected to be drawn into such a diverse conversation when they simply asked for directions to the mall! In some ways I pity anyone looking for advice because if I run across those people I may actually feel obligated to give them good advice! (Disclaimer: Because I am not a licensed Broker I will not give out advice. Anything I say will and should be used as information and for the purpose of learning, not being advised.) There, I covered my assets with that one.
When I was in the 9th grade my Civics teacher introduced me to the stock exchange through the 18 weeks we were expected to follow three separate trades. We were to keep a journal on them. This was a full grade and worth a great deal of our overall class evaluation. We were to pick one company stock that was fast and furious, frivolous if we could find it, and we were to follow it every single day. We had to pick a company stock that was steady and barely ever changed, and we were to pick a company that represented who we were as people; something we liked. I chose the following companies: Pan America Airlines as a steady Eddie, Pepsi-Cola as a stock that would flux, and Western Union because my Daddy worked there.
Over the course of the next 18 weeks of class we kept records, detailed records of our stocks. We were only allowed to "Sell" if our stocks were way below market or if they closed or something drastic like that. In my case, Pan American did eventually close shop, but not when I was following it. I profited in that I made money on both Pan Am and Pepsi. Western Union was a wash to be sure. There was so little movement in that particular stock that I grew to think of my dad's employer as being perhaps the most boring place ever - - little did I know that Western Union was part of Western Electric, which is basically AT&T (American Telephone and Telegraph) which would be so very vital and play a major role in all of our lives! See, as kids we really do need to step back and see the bigger picture at times.
That was my introduction into stocks. I still believed only rich people could play that game. I never got into it, but really wanted to. Now, because I am a bit wiser than I was at 14, and I do see things in a better light regarding what may or may not be viable, I think I will be entering into the world of money changing - - well, to be more specific, currency trading, better known as FOREX or the Foreign Exchange. When a person travels and takes their currency to another country they must exchange their money in order to purchase anything in the country they are visiting. That's the basic and most honest level of foreign exchange out there. The thing is, a bank used to be able to use their own discretion when making the exchanges and they weren't always on the up-and-up about it. They literally chose what their exchange rate would be, and other banks and merchants were in stark competition with those banks, allowing tourists and others to get a better exchange. That has changed. Thank you, Jesus.
Now, because of the multi-faceted and ever-so-public markets being online and running 24/7 for six days a week, no one would dare short a visitor now if they had with them their handy-dandy exchange app that literally told the clerk at the window exactly what they are expecting to receive. It's not done nearly as much, and that's a good thing. The really good thing is, you don't need a license to trade on the online market if you're using your own money. WOW! Let me just say that again....WOW!! This is a giant step in the right direction for anyone who can be disciplined enough to work the markets. Note that I didn't say "play the game" because trading is not a game, it is a major business, churning and trading over $5,000,000,000,000....that's TRILLION dollars every single day! EVERY single day! Let that soak in for a minute. I'll take my cut, thank you.
Currently, as of end of April 2022, I am at the very beginning stages of my training. I am loving it, and I am taking it very seriously. I have a mentor of sorts, a coach online, who has been training and teaching would-be investors for about 5 years of the past 10 years that he's been successfully trading. He's a mild mannered man of sorts, but also an aggressive trader at times. I like his style, I absolutely love his planning, research, patience, and methods as well. He is disciplined, won't jump into a trade easily, and forces himself to obey by the set rules he's come up with which work for him and they work for dozens of others he's trained. I watch. I watch his moves. I watch their moves. I learn.
My personal journey can be seen as I'll blog about it. You can follow me, and you can learn too. If you want to get into the Forex market I have two bits of good advice to give you; the first thing is to know what you can lose, and not to trade or gamble really with an amount you can't afford to lose. If you think the market is your friend, you're crazy. The second bit of advice I would lend to you, to my kids, to anyone, would be to research first, practice with demo type accounts through a brokerage, it's free, and just learn everything you can...BEFORE you trade. BEFORE you spend real money.
For me, and maybe for you, Forex is the way to go. I think I'll end up getting into SPY which is equity stock, and I'll do more long positions, or holding the positions longer with that. I'll be rather day-traderish on one trade account, likely a penny or junk account, and keep a more steady as she goes approach to the actual account I'll be using to make an actual living. I'll be able to save and spend with the penny-stocks and SPY accounts. One of the reasons I want to have such as diverse portfolio is to be able to really act aggressively and get the sting out of my emotions with something small enough I can control. I won't be so flippant with the way I approach the money or currency trading. I will be more reserved and do my research. I won't say that I won't do day trading from time to time, but for the most part my plan is to make a plan, and to keep the plan. If there is one thing I do well, it is to plan for the plan. I can do that.
There you have it. First of the month is tomorrow, I'll start a journal and keep notes about all the videos I watch, the courses I do, and the money I invest into my investing. Before long I'll be in a demo account and keep you posted on what is happening, and then I'll gradually start open trading on the actual exchange(s). I will start very low, very slow, very methodically, and in fact be rather boring intentionally. I want to be able to know my footing. It will happen. This will happen. I have set the goals, and I have set my mind. That means it's going to come to pass. I kick my own butt to make things happen. I don't need a cheering squad or any sort of motivator - - just me. Let's do this. Forex, Baby!
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