What I'm Focused On
The aim of this journal is not to walk you through investing or teach you how to do it. It is simply meant to be easy to follow along with my thinking and where my focus is right now. This is not about copying what I do, but about using it as a reference point to investigate things for yourself and figure out what genuinely interests you.
I am currently invested in three areas: forex, stocks, and crypto. My favorite by far is forex because I can act quickly, control my risk, and use leverage. It has forced me to work on patience and timing, learning to wait for the right entries to get where I am now. I am not rich from it yet, but I do feel confident that I understand the basics of risk management and capital protection well enough for it to be favorable. The reality is that you can get very rich very quickly if your timing is right, but the risk is just as real.
Right now, my main focus is metals, especially gold. Silver is secondary, and Bitcoin also holds my interest. Even though it might sound confusing, all of these can be traded within the forex market. I am not buying or holding these assets. I am simply trading price movements, entering and exiting positions to profit from changes in value.
For stocks, I use FreeTrade. I like it because the platform is friendly and not intimidating, which makes it easier to stay engaged. That said, there are many other platforms out there, like Trading 212, and it is important to do your own research and find what suits you best.
For forex, I trade through IC Markets. They suit my needs, but again, there are plenty of other brokers available, and researching them properly matters. In particular, it is important to understand the difference between A Book brokers and B Book brokers before committing to one.
If someone is new to investing, I think it is important to explore different platforms, whether through YouTube or taking a course on Udemy. I do not expect anyone to become a professional, as I am not one myself, but it is important to find an area that genuinely interests you. If you trade crypto, it helps to focus on one or two pairs, like Bitcoin and Ethereum, so you do not get lost in the noise. If you invest in stocks, it makes sense to focus on a specific sector. For me, that is tech. I like Nvidia and AMD, and I am already interested in gaming laptops and technology, so it aligns naturally.
If forex is your interest, you might be drawn to a particular country, currency, or even politics. Personally, I mainly focus on gold because the other pairs feel too noisy. Gold gives you the potential to make a lot of money, but also to lose a lot, which makes discipline and risk management essential. If you are completely new to forex, I would recommend starting with BabyPips — it is one of the best free resources out there for learning the fundamentals.
One thing I have realized is that whatever you choose, you need to be able to check in on it regularly, almost every other day, to the point where it starts to feel like a hobby. I think a lot of people get investing wrong because they expect to sit back and watch things work for them. While that can happen eventually, it usually comes after you have developed a genuine interest in markets, money, and change itself.
I have never had a good relationship with money growing up, but as I have gotten older, I have learned to value preservation, saving, and accepting losses as part of the process. Journal 2 will focus on that.