I appreciate your intentions here. But your ideas seem geared toward the individual rather than a class. Undoubtedly, a person who sets their mind to it can succeed as a Forex trader. My question is what are the ramifications of that individual's success for an Af-Am economy, or class-wide Af-Am economic advancement/expansion?
One thing to consider is Af-Ams do not have a proprietary currency of their own to trade on the exchange.
If you go back an read the "Welcome" post, you'll find the following:
"The economic strategies to be developed here are akin to guerrilla war tactics.
They have to be flexible, implementable by individuals or small teams, require little or no start-up capital, be able to sustain a comfortable life-style, and enable each of us to pull another African up behind us."
In your 'welcome' thread I asked what is to be the standard by which success is gauged and how shall it be determined? With guerilla economics (?), you've defined the vehicle, but not its direction.
"In your 'welcome' thread I asked what is to be the standard by which success is gauged and how shall it be determined?"
Survival on one's own terms.
thanks for this post. i recall you spending what appeared to be a 12 hour stint watching prices rise and fall.
there are three dimensions of resource allocation here that i'd like you to address if you could.
first is time. how much time did it take for you to get up to speed, then how much time do you put in in tracking and making investments?
the second is money. you've already dealt with this, though i'd be interested in knowing what are the "normal" profit/loss ranges that you've seen.
the third is knowledge, though to a certain extent this is related to time. how much knowledge did you need before you jumped in and could make sense of everything?
there's a website that allows you to make imaginary trades without any money changing hands. i should've put it in my del.icio.us account but did not....
MIB black people don't have their own currency...for what mike is talking about this requires a state. that may be something worth talking about, but what i appreciate this website for is its focus on PRACTICAL MEANS that black people can use NOW. at any level they can fit...
I disagree currency requires a state, although it does necessitate organization. But Af-Am currency isn't my main concern with this blog's direction.
Mike has presented a way for individuals to make money for what appears to be a nominal investment. While the model is fine and well, borrowing money on the margin to play in the markets is neither novel nor guerilla in any sense of either term. More importantly, I don't agree with the suggestion Af-Ams don't already know how to make money. That's only 'income'. As I see things, the challenge for Af-Ams is creating 'wealth'.
Let's look at applying that $1000 per person toward a vehicle that not only earns a return, but is a resource/commodity we can direct. That's the route to Af-Am economic power.
Commenting by HaloScan
