Categories


  » Home
  » About Forex
  » Forex Scam

Most Popular Articles


Become a Professional Forex Trader - Living The Dream In 3 Simple Steps

Become a Professional Forex Trader - Living The Dream In 3 Simple Steps
Sponsors


ADV HERE

Search




Forex Articles - Read and Download Free Articles About Forex Market, Forex Trading Articles, Forex Brokerage, Forex Strategy, Forex Charts and Forex Basics


Trading Forex For A Living The Right Way

By : Dean Saunders
View : 0 Times

Welcome to my article, I hope I can give you an accurate description of what to expect if you are planning on trading forex for a living.

Getting to this stage of trading for a living is no easy task, you may well blow out several accounts if you do not get the correct training from the beginning. You must not come into this business with a small account of $1000 and expect to make a living from it, you would be under immense amount of stress to provide and pay bills plus you would have to hugely over leverage your account which is a disaster waiting to happen.

Remember the markets will be here longer than you, don't rush into this business trying to make a living, build up your small account with the goal of trading for a living in the future. Once you become profitable I highly recommend you to cut down your hours at your day job or take a part time job to take the stress off of trading before you completely go full time.

While you have a full time job Plan and trade the longer term charts which can be done between you work, focus on taking only the very best of your setups. Keep you goals realistic, 10-15% a month is easily accomplished with patience and strict money management. This may not seem like much on your small trading account but if you sit down and work out what 15% monthly compounded is in 2 years I think you will be very surprised.

Although you may see currency trading as a very exciting business you couldn't be further from the truth. Once you are trading your system consistently following your rules you will find that like any job it becomes routine and boring. No longer will you get excited about a 200 pip gain or depressed about a loss, you will have stopped thinking about day to day profits and only focus on month to month results. However this job has no limits in potential of how much you can earn, many traders have taken a tiny account and turned it into millions.

Do not expect to have no losses in this business, you must lean that they are just expenses like in any business, accept them and move on.

Professional traders always keep a journal of each trade they take so at the end of the month they can review the bad trades and try to avoid them in the future. Writing down feelings you felt throughout a trade can also help you determine if you exited a trade by your rules or out of fear and greed.

The bottom line is don't rush the learning stages of this business remember doctors and lawyers study for years before they are ever allowed to use there skills, just because the markets are available to you dose not mean you should jump to full time trader before you have gained your stripes, you will end up with the 95% of traders who fail to extract money from the markets.

I hope this article has given you some insight into trading the forex markets for a living, if you have any questions at all please contact me and I will reply as soon as possible.

About the author:
Do You Want To Make Consistent Money Trading Forex? Dean Saunders has created the *Ultimate* FREE forex trading system that has helped 100's of Forex Traders become profitable. Click Here and grab your FREE copy of Dean's amazing trading system!


2008 - Daooer - Free Forex Articles And FX Resources. All Rights Reserved.