Rayzer1120

I apologize is this information is elsewhere, but my searching kung-fu is failing me.. I have installed and I am having a blast playing Terrafirmacraft through Forge, even got the Journey map mod added. (I have had problems with NEI, but thats another story I'm working on..) My question is.. Is is possible to have the Minecraft 1.8 version of Forge running with the updated mods.. AND still have access to the 1.7.10 version so I can play TFC? Do I just run the separate Forge installs? What about keeping the mods separate? Thanks for your patience! Rayzer