Stuff to do
Now that my apps are completed, I've got a significant amount of free time and I've been trying to figure out what to do with it. As I was doing my apps, I realized that I know essentially nothing about finance. I could try to learn accounting, but the subject seems phenomenally boring, doubly so because my parents were accountants. If I actually get accepted, I'll probably buy a book on it anyways just so I don't feel embarassed when I talk to all the finance people.
I've thought about improving my chess or poker games, but chess seems so self-indulgent since it doesn't help the rest of my life. Only a couple of my friends play chess seriously, and although I used to be quite good in high school (captain of the chess team and king of geeks, baby!) it just doesn't seem worth the effort to get back to my previous level, nevermind trying to achieve Master class. And poker is more or less shot since the US government passed a bill that makes it nearly impossible to fund online poker accounts.
So I'm thinking about switching to currency trading (forex). It gives me an excuse to learn about trading, makes financial and political news more relevant to me and therefore more interesting, I can trade after work since the markets are 24/7, I only need $250 to set up an account, and despite having the option of 200:1 margin only that $250 is at risk.
Now let me be clear: I understand that if I actively trade in a forex account then this is gambling, not investing. But honestly, I'm fine with that. I enjoy gambling, and really I'm pretty good at it. I spent a couple months learning how to count cards in blackjack, I learned enough to more than hold my own at low-limit poker, and I'm proud to say I've never left Vegas with a loss. So the way I see it, this is just another game to learn while simultaneously increasing my financial knowledge.
In other news, my Kellogg interview is this coming Wednesday!
I've thought about improving my chess or poker games, but chess seems so self-indulgent since it doesn't help the rest of my life. Only a couple of my friends play chess seriously, and although I used to be quite good in high school (captain of the chess team and king of geeks, baby!) it just doesn't seem worth the effort to get back to my previous level, nevermind trying to achieve Master class. And poker is more or less shot since the US government passed a bill that makes it nearly impossible to fund online poker accounts.
So I'm thinking about switching to currency trading (forex). It gives me an excuse to learn about trading, makes financial and political news more relevant to me and therefore more interesting, I can trade after work since the markets are 24/7, I only need $250 to set up an account, and despite having the option of 200:1 margin only that $250 is at risk.
Now let me be clear: I understand that if I actively trade in a forex account then this is gambling, not investing. But honestly, I'm fine with that. I enjoy gambling, and really I'm pretty good at it. I spent a couple months learning how to count cards in blackjack, I learned enough to more than hold my own at low-limit poker, and I'm proud to say I've never left Vegas with a loss. So the way I see it, this is just another game to learn while simultaneously increasing my financial knowledge.
In other news, my Kellogg interview is this coming Wednesday!
posted by Thomas at 1:36 AM
1 Comments:
My opinion: before you go deep into Forex, try to collect as much information as possible. As a specialist with financial background, I have heard numerous opinions on Forex, and some, coming from investment gurus, were that it's a pyramid, and in the long run you always lose. In my postgraduate time, I had some light interest in trying Forex, but my investment professors strongly discouraged me. Though, no first hand experience. Research!
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