The Money Blog Post

A couple of blokes down the pub recently opened web-based foreign exchange (forex) trading accounts of less than US$1,000. And it seems from the banter that they don’t know what they are doing – nor do they claim to. They treat it as a form of legalized gambling; a crack; a bit of a laugh.

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It could be argued that forex trading for the quick buck, like gambling, doesn’t contribute to society in any way other than to line the pockets of brokers. But one could say the same about short-term positions on the stock market or any other speculative activity. Fair enough.

Intrigued, I opened a demo account on the same website as the guys – eToro, if you must know – which offers live price trading with a virtual account balance. What I’ve been obsessing about since is whether it is possible to make consistent, sustainable money in forex markets under the following conditions:-

1. Without giving up the day job, and/or
2. Replacing the day job as primary source of income but NOT as primary killer of time

Continue reading “Forex Newbie Opens Demo Account, Starts Trading Plan”