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Does forex trading make sense for someone with a computer science background as a way to make money on the side?
I'd like to make some money on the side. I have a computer science background. I read the Wiki, but it mostly contained educational resources, whereas I'm wondering "does it make sense to trade forex in my position". I see three possible benefits of trading forex:
I trade forex and get some money on the side
I trade forex, get good at it, then program a bot that trades forex (not sure how profitable this is)
I trade forex and pick up some skills that are useful if I'm investing later on in my life (in tech companies etc.)
I'm trying to weigh trading forex against doing freelance programming work on the side as a way to earn extra money. Hence I arrive at my question: Does forex trading make sense for someone with a computer science background as a way to make money on the side? Is it worth it, given that I want to invest in companies later on in my life? Or should I stick to programming freelancing?
Why do people say forex trading is not profitable and you'll loose your money?
Like if you jump in directly obviously you'll end up blowing your account, you'll loose hell lot of money But if you properly study, practice,make a strategy you will follow Have a risk management plan,learn the market and basically just put it effort in it,why won't you be profitable You can't just jump into anything and expect to become a millionaire,you need to work for it Example becoming a doctor, No one can just go into an operation room and start operating,you need years of practice and experience Same goes with forex,but the reward might just be a little juicier Soo don't be disheartened by the 90% loose money And keep realistic expectations,you can't expect to earn 90k a day without putting in the effort So guys wish you all the best and just work hard and practice man Form a proper plan and just stick to it
my brother keeps asking me for money for (i’m assuming) trading/forex and i don’t know if i should stop giving it to him
a while ago my brother started asking me for money, it wasn’t much- $100 here $150 there. i always assumed it was because he was living paycheck to paycheck and needed a little extra $, which made no sense to me because his job pays quite well, and he lives at home. then i overheard him talking about stocks and how many shares he’d bought that day and then it was starting to make sense. he always gives me my money back no later than a couple days, and he’s quite reliable, so i’ve always trusted that he was going to give me my money back anyway and i didn’t question lending him money since he always made good on it. plus he’s my older brother and like i said, extremely financially reliable so it was a no brainer. but recently he has upped the amount and asked me for $700, which i sent him no problem. and a couple days later he asked if i could send $1000, and asked if i wanted to make an extra $100. he saw i was skeptical so he explained that it was a money-back guaranteed competition or something. he has never ever explained what he needed the money for before this -not that i ever asked- but this time it was almost $2000 so i guess he knew he had to explain. at this point i already figured out what the money was for so i asked if i’m getting my money back whether or not he makes it back. he gave me his word that i’m not losing any money, in fact i’ll earn $100. not that i would ever risk $1700 for $100 but like i said i trust him so i sent it to him. now i have no doubt that he’s gonna give me my money back, that’s not even the issue, but i’m moreso worried that if i keep giving him money no questions asked, i might be enabling him in some way and might just be fuelling his trading needs. i’m sure he’s responsible in how he does it, but you just can’t be too sure where there’s money and gambling involved. i (very clearly) dont know much about trading so i’m not even going to bother asking him, but i just don’t want him to get into a place he can’t get out of all because i lent him money the second he asked. should i cut back a little? should i just let him do his thing? idk if the question even makes sense but i guess i’m not sure if I’M even being financially responsible.
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