Forex trading as a career? - Page 9
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  1. #81
    Join Date
    Nov 2011
    Posts
    319
    I see many people they join forex for living .They do full time trading as career. Forex is time demanding business. As much you will spend time you will find good tips for trading. As a career forex need a lot of care and hard work so that you earn from it not loose money all the time. Full time traders are more in benefit because the watch market time to time and avail good chance of market to get profit.

  2. #82
    Join Date
    Oct 2014
    Posts
    15
    Only if you have enough capital, i.e. above 50k imo.

  3. #83
    Join Date
    Aug 2015
    Location
    Michigan
    Posts
    215
    Having a career and making a living off of Forex Trading is NOT something that is EASY or be taken lightly. This is one of "The 9 Biggest Lies in Forex Trading" that many new or novice Forex Traders fall susceptible to.

    I've been trading for more than 26 years and I can tell you in order for ANYONE to trade for a living he/she is going to have to do a great deal of preparation working in the form of education, finding a Mentor, Teacher or Forex Trading Coach. You're going to have to spend money to make money and then after that. Imagine the enormous pressure that you will constantly be in trying to live off of your trades and paying the mortgage, rent, credit cards, putting food on the table and more. The glimmer fades away real quick.

    I'm not saying it can't be done, because obviously many are doing it, but those new to Trading shouldn't expect to be trading full-time overnight and/or living off of their trades overnight. There is a reason my 95% of Retail Traders lose in Forex.

    Man this topic is vast and I would hope that many experienced Traders will chime in and share their experiences.

    With that said:

    Have a magnificent day on PURPOSE!

  4. #84
    Darastonius Guest
    Trading CAN'T be used as a continous income source. You can build a nice equity and live off that, but trying to pay mortgage or to put food on the table is a very bad idea.

    This is why they say, that you need money reserves for trading, because let's say in one month you make much less what you need, but in the next you make 5 times what you need for living, then living from it is not a problem, IF you don't have liabilities.

    But if you want to take out continous earning from trading, then you going to have a bad time.

  5. #85
    Join Date
    Oct 2014
    Posts
    3
    Brilliant reading through this thread and seeing lots of guys doing this full time, be interesting to hear from the guys who were commenting in 2012 saying they were full time to find out if they are still full time and doing well in the markets. Great motivation for us newbies.

  6. #86
    well i think forex provides a very good opportunity to make a career out of it , as it dosnt requires much capital and a degree to start it ,, it just need some knowledge and a little practice and then you can have your own business

  7. #87
    Join Date
    Feb 2013
    Location
    Scotland
    Posts
    4,999
    Quote Originally Posted by Pabebeboy View Post
    well i think forex provides a very good opportunity to make a career out of it , as it dosnt requires much capital and a degree to start it ,, it just need some knowledge and a little practice and then you can have your own business
    No and no...

    The dream of a $500 account holder becoming entirely reliant on forex trading to pay the bills

    is what makes so many newbies overtrade, blow their account, and end up giving up on trading...

    You need a large enough account to really trade properly, I think... I know from experience, that

    my little micro-account is pretty much useless... I will keep growing it but for now it is just practice

    for when I have a properly capitalised trading business...

    You would not start any business (a shop, for example) with $500 or $1000, would you... so what

    makes us newbies think that we can do that with trading?

  8. #88
    Join Date
    Oct 2015
    Posts
    147
    Quote Originally Posted by arigoldman View Post
    Only if you have enough capital, i.e. above 50k imo.
    Forex trading can be started with even small amounts as well, the only thing is how seriously any trader take trading. Some plan for it and take a leap into it as there career and make enough money with small amounts however some blow their account even with huge balances.

  9. #89
    Join Date
    Dec 2015
    Posts
    282
    I think it's possible to grow a small account into a large enough account to make real profit off of it, but that's something that takes years of studying, pracising, trading, etc. In the meantime one needs another steady source of income, you can't count on that account.

  10. #90
    Join Date
    Feb 2013
    Location
    Scotland
    Posts
    4,999
    Quote Originally Posted by mlawson71 View Post
    I think it's possible to grow a small account into a large enough account to make real profit off of it, but that's something that takes years of studying, pracising, trading, etc. In the meantime one needs another steady source of income, you can't count on that account.
    Absolutely...

    It is good to have goals and dreams, but in the meantime, do not give up that day job just yet

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