Okay, I know this sounds random, but I’ve always wanted to become as millionaire in my 20s, preferebly age 22 and at the very most age 27 as a back up. Since I was 13 I have looked into various different businesses I’ve been passionate about from property development, stock market investing, forex trading, options trading, CFDs trading, spread betting, iPhone app developing, facebook app developing, internet website entrepreneurship, eBay seller, starting a construction company, starting a hardware/software company, and many more. All of these and many more I’ve been passionate about at one time or another, but I can’t find ANY ONE I’m truly passionate about that could make me a millionaire in my 20s. What Could I do become a millionaire by age 22 or 27 starting now at age 18? Please, I really need someones help or advice as I’m desperate. Thanks.

Becoming a millionaire in your 20’s is extremely unlikely. There are three ways to become a self-made millionaire in your 20’s; 1) Work extremely hard applying a valuable skill 3) develop a new business or product 3) get lucky.

The most reliable way to accumulate wealth is to develop a valuable skill and then work extremely hard applying that skill while spending as little as possible and saving the rest. Many of the opportunities you mention require developing a skill.

A much better goal than becomming a millionaire in your 20’s is to find something useful that you are good at. If you do that, you will have much more financial security that a millionaire.

The greatest financial security in the world comes from having a useful skill. And it can be a wonderful life if you enjoy applying that skill.

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I am a full time US option trader.
Looking for online courses on FOREX
Reputable company,speaker/advisor.

Any advise will be great

The top forex trading companies with top trading platforms and also have easy webinars or on line seminars, live representatives who will be able to explain and help out with any needs or concerns. No Robot systems to talk to either.

http://www.gftforex.com/

http://www.fxcm.com/

Hope this is what you are looking for.

Enjoy your day,

TS

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The old 10% over the long haul does not seem to be true anymore. I’m not interested in day trading, options, forex or other higher risk money vehicles. I’m more interested in stocks and bonds investing without a lot of trading going on.

There was an article on that on the internet just a couple of days ago. Investment gurus were polled and the consensus was about 2% after inflation at the most. Some–a small majority–stuck to the 10%. A few pessimists came in at zero. If the last 10 years is any indication, one is going to have to think outside the box, to get 2%. Let’s face it. There is every indication that the growth years are done and gone as a rule of thumb. The US economy appears pretty well headed the way the Roman empire went. The Roman empire had Nero. We had Bush and now Obama. The Roman empire had its senate and we have ours. A lot of parallels here.

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I am 18 years old and I have been practicing spot-forex trading for several months now with FX Club and I am quite good at it and have learned a lot about currency trading from my demo account and some books and internet article sites on currency & options trading. Its become my passion actually.

I also know something that actually is a secret to FX trading success; the trends are usually long term, lasting from several months to several years meaning you are best to trade for the long term on currency pairs to enjoy the ride of making money. You can’t do this with spot-FX because you are trading on margin and if a trading position is left open too long, you will be wiped out within so long.

What I would like to know is if currency options trading is a good way to trade currency by simple vanilla call & put options as I know that spot-FX is essentially a mugs game? Also is there anybody out there who trades currency options for a living at all? Also, what is an easy to use currency options trading brokerage that can be used by a UK based investor? Please help advise. Thanks.

P.S. Sorry my question is too long.

if you want to trade forex, you need to trade futures. if you don’t have enough money you need to save the money while doing something else while learning more about forex and then trade futures. once you are able to trade futures you could add options on futures if you wanted but you do not need to do that. generally speaking successful option trading is more difficult than than trading futures or stocks. options are never simple vanilla.

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Currently at the time of writing I am 18 years of age and I have been practicing stock, commodity and currency trading in several different practice accounts. What I have discovered is that I am best at currency trading and I make the most money out of trading that way. With stocks and commodities I have had moderate successes but I’m better at FX trading than anything else and I’ve learned a lot too.

I also know that currency tends to trend long term such as a few months to a few years which is where currency options are best suited. Spot-forex trading on the other hand is traded on margin and is best suited to short term trading of the FX markets.

I have only had practice trading FX in spot-forex and spread betting, both of which had a return of several hundred percent. What I would like to know is what is the best way to trade forex out of currency options, spread betting or spot FX, and which is best suited to a UK resident to gain wealth? Please help/advise. Thanks.

P.S. Sorry its so long.

The answer is really very simple. if you are in the UK you should go through the spread betting route because all gains are tax free. All the instruments you have mentioned are traded on margin so are equally risky but the difference is that if you trade spot forex or currency options you will have to pay tax on your gains!

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Also, which is the least risky and which requires the least start up capital?

it depends entirely upon your own mentality…..

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I need recruitment agency websites. anyone know of any?
Also, I want to get into Trading ( forex, options etc) how do i get into that? i’m not going for big companies. I have to start from the bottom, i just want experience. Thanks.

hi
here list of best forex trading companies list to learn or trade

http://bestforextradingplatforms.com

good luck

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I’m a newbie in forex trading, just downloaded a broker platform and doing demo/practice account.
There I see option called "open trade" and also called "create order". I’m confused that whether in order to open a position shall I click "open trade" or "create order" because what I learned from forex tutorials is that in order to buy or sell instantly, you should create a "market order", but in my demo practice account trade is opened by just mere clicking on "open trade", so I wonder what role plays the "create order"

Hi,

firstly generally,

Market order means to buy / sell at current price

buy limit order means to buy at the limit price or lower.

sell limit order means to sell at the limit price or higher.

Are you using MT4?

Anyway since you are doing DEMO, why don’t you experiment?

If it is a market order, you will see your order appear in the chart at the current price.

Pending orders will requrie you to specify a entry price and if you place it, it will appear at the price you specified.

If you are new to forex, you can visit my blog where i write articles for newbies.

Hope i helped!

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i from kerala i want to know about forex and option trading if anybody know let me know…expecting details in malayalam would be appreciated

An option is a contract to buy or sell some investment or commodity for a fixed price for some specified time period. They offer more leverage in as much as you can control more units for the same money. The problem is they can be an all or nothing because the contract is worthless at the end of expiration date.

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I am looking for a mentor to help me out with Forex Trading. I mentor others in stock and option investments and am curious about forex but need some help to learn. PLEASE DO NOT reply with trading robots, I will report you as spam!!!! I am tired of the ads on here and am looking for legitimate help with transactions and charting. Anyone willing to help a fellow trader?

I’ve been trading for 4 years. The thing I can tell you for sure is that you don’t want to get involved in FOREX unless you have cash to lose. The reason I say that isn’t because you are guaranteed to lose money long term but you are sure to short term, while you are learning. I can go over the differences of FOREX to the stock market and the very important differences if you’d like.

You are so right about bots..NONE of them work. Sure, some can work short term but the problem for the programmers is that the FOREX market is so liquid that the market never stays the same for very long. A strategy that works solid for 6 months on a currency pair can suddenly throw off bad trade after bad trade. You definitely need a human at the helm.

My handle on FOREXTSD (The best forex forum) is CycleSurfer.

I don’t know what strategy you are planning to learn about or what time frame but here’s a look at one strategy that can be profitable in FOREX:

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