My plan for my financial future?
I just turned 20 years old and i’m broke. Well i have 400 in forex trading and 200 in poker and 300 in the bank. I will be making 6000 a year while at school next year. My plan is to start a stock market trading/short term investing account Swing trading to be exact. I will add 500 a month and aim to return 5% a month which in the past 5 years managing a virtual account has proven to be a good realistic target Ofcourse some months may be better and some worse, but what i learned from a few blowups in forex was that risk management and cutting your loses should be the main goal in trading. Find a trend and sticking with it when its going your way is easy… its the emotional rollercoster of being wrong thinking your right that will blowup an account faster that sept 11. Anyway thats my plan for the next 2 years i should make a total of 12K just working and im shooting for 20K total in 2 years total time from now. Then the following 3 years im aiming for 100K. Then the next five years to make my first million. Then by the time im 35 i want to have around 7-10 million. I know this is a big plan but im super confident in myself and my trading. Its what i love and if i fail at this then theres no point in living anymore for the past 6 years this is what i felt deep down inside to be inspiring and for me.
Is this a question or a statement? Just beware, that it becomes different when you have real money at stake, especially when it is your own.
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LikeDislikeEverything is not what it seems. You think you will do fine. You can try but if it doesnt start well go into normal jobs. And pick out a few good shares.
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LikeDislikeEarn 5% per month on a consistent basis? Can’t do it. Good luck in your scheme though.
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LikeDislikeIf it was this easy we would all be millionaires. Getting rich quick happens rarely, most people get burned. Get a good job and save 20% of your income each year. Use tax preferred tools like 401k, IRA, roth ira etc.
Find a good Certified Financial Planner to help you with getting on the right track. You have one very positive thing in your favor – time for reasonable investments to grow. Get started in real saving/investing as soon as you can.
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LikeDislikeVery good characteristic is planing Your future and specialy finances. If You would like to know more about getting successful in forex market I recommend You this website: http://zcomforex.blogspot.com/
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LikeDislikeYou think you will do fine.
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LikeDislikei recommend you this e-book and updating the stock information trough
http://bigstocktrader.blogspot.com/
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