Can I learn how to trade forex especially online and turn it into my full time career when I'm only 21?

Question

Can I learn how to trade forex especially online and turn it into my full time career when I'm only 21?

Answer 1

Careful friend, someone already gave you a warning and i support that. You can even open a forex account with $20 but it doesn't mean the road to the riches will become easyer.



Being aware of how powerful forex trading can be when it comes to financial independence is for some exactly the reason of failing. Lots of emotions are involved with the Forex and it's no wonder why there are so many hard luck stories. Add to that the piles of trash courses and the fact that not every trading strategy is functional for you personally. So if you buy a book or course including a trading method be well aware that the method may not work for you, even when it works for others.



Age is not an issue in trading, experience is. Some guys manage to be successful in a matter of months other take their time and succeed after two or three years. Thats something you need to explore on your own.



This is not something to say "now i'm going to study this and this indicator and i'll be off making a fortune". If your personality allows it you could of course but it's better to be safe than sorry. Know yourself, study the most popular indicators and match them to your own logic and understanding. It's a quest best taken on your own.

I trade myself with technical indicators only and it works for me.



Indicators worth studying: MACD, Stochastics, RSI, Moving averages, Fibonacci, Candle patterns, Bollinger bands and CCI.



You also need to prioritize. Price is the ultimate indicator and needs to be analized first before going ahead with technical indicators. Find out wether it's in a trend (down or up) or a range.



Here are good websites for beginners: www.babypips.com and www.investopedia.com

Answer 2

Binary options trading is very popular in many countries around the globe. However, most people still ask the question "can you really make money in binary options". The short answer is that yes, in this website they give you a few tips on how you can make money trading binary options https://tr.im/ggSOK



You can make money online with binary options trading if you only trade at legitimate binary options brokers and learn the fundamentals of binary trading and employ proper trading startegy.

Answer 3

Binary options let users trade in currency pairs and stocks for various predetermined time-periods, minimal of which is 30 seconds. Executing trades is straightforward. The system uses user-friendly interfaces, which even an 8 years old kid, can operate without having to read any instructions. But winning trades is Not easy.

Binary trading is advertised as the only genuine system that lets users earn preposterous amounts of money in ridiculously short period of time. Advertisers try to implicate as if you can make $350 every 60 seconds; if it was true then binary trading would truly be an astonishing business.

However, does it make any sense? Can every trader make tons of money in binary trading? Who is actually paying all the money or the profit to traders?

The first challenge is finding a trustworthy binary broker; secondly, you need to find a binary trading strategy, which you can use to make profits consistently. Without an effective trading strategy, there is no way you can make money in this business.

Learning a profitable trading strategy is possible, You should watch this presentation video https://tr.im/16635

It's probably the best way to learn how to win with binary option

Answer 4

You can learn all about forex trading on youtube



https://www.youtube.com/thetradeitsimple



Or try their website - www.tradeitsimple.com

Answer 5

You absolutely can make your dream guy :)

I believe you can do it, if you really want to do

Here is Forex Online Training which is absolutely the best in my opinion, I learn a lot from this Training



http://www.anrdoezrs.net/click-3044945-10379620



And here is the link to choose top forex brokers for you



http://sites.google.com/site/topforexbrokers/

Answer 6

You can make nice sums at money starting with 100$. Read more about Automatic Forex Trading (aka Expert Advisors) at:



http://CompareExpertAdvisors.blogspot.com

Answer 7

Well I suggest you to learn about the forex market deeply as you can and only then trade with some Demo accounts to learn the live trading.

After getting enough experience jump in to the trading with the real account.

Answer 8

I think the minimum to open an online account is $500. However, making money in Forex is very difficult. But at least stay away from the many pitfalls such as those automatic trading bot, they are a complete fraud. When trading Forex, use long term strategy (for one example, search for "the way of the turtle" or "trend trading") you will be on the right track. Good luck.

Answer 9

take the words of the experts. forex is not for those who don't have enough funds to do so. trade forex only with your extra bucks and not with the money you intend to use for your daily needs. anyway, online forex trading will always be there long enough, even much longer than your own existence. the market is so huge with so much liquidity that the trading frenzy will be there for centuries. for your more profound knowledge of the forex market you may check out this source to download a free ebook and a free demo account as well. prepare yourself first by studying the market and practice with the demo. all the best.

Answer 10

$100 will get you nowhere in FX trading. Some forex sites won't even let you trade with that little money. Nevertheless, it you're really determined, I would recommend using that money on forex books and trading an online FX simulator while you're studying. The anxiety or risking real money could distract you from finishing your commerce course.



These books would be cheaper than those rip-off forex classes and you'll probably learn more too:

- Currency trading for dummies: http://www.amazon.com/Currency-Trading-Dummies-Business-Personal/dp/0470127635/ref=pd_bbs_8?ie=UTF8&s=books&qid=1240300269&sr=8-8

- Complete guide to currencies .. http://www.amazon.com/Complete-Guide-Currency-Trading-Investing/dp/1601381190/ref=pd_bbs_9?ie=UTF8&s=books&qid=1240300269&sr=8-9

Other Forex books: http://www.amazon.com/s/ref=nb_ss_gw?url=search-alias%3Daps&field-keywords=FX

Answer 11

The good thing about forex trading is that you can learn it risk free. Yes, risk free! All you need to do is open a demo account with any forex broker. You can do that in five minutes on the internet and start with forex trading. On the demo account, you will be provided with real time data that you can use to make buy/sell decisions but you will be using fake or virtual money. Since you are not using your real money, you are not going to lose even a single cent.



If you want to play tennis you need to practice. Same with forex trading, with a practice of a few weeks you will be confidant enough to start live trading.



The sites you can refer for forex trading tips, recommendations, news and updates are: