vineeta, no, no its the process first and foremost, the money will take care of it self.
Simply learn to be consistently profitable every day. Then learn the leverage.
No matter the amount per day if its only $1.00 accomplish that then move to $5.00 then $10.00 but do not move forward until you can do each level for a month consistently. AS you increase that “edge” compound interest will take care of the rest!
According to me, everyone is trading here for Money only because investing your money just for mastery is not valid for many of us.
Forex being an income generating source will automatically provide earning facilities. And of course, all traders have some common goals of earning money but the methods can be diverse from person to person. I am working here as part term trader so that I can make earnings from the utilization of surplus money I have.
mastery is wayyyy more important that the money. Like I’m not sure about anyone else, but $300 a day is all I need starting out. That’s about $1,000 a week. You can make just 20 pips a day, and that can be whatever you want depending on your account size. It can be $2, $20, $200, $2,000. That’s how you need to look at it. Demo, demo, demo until you’re consistent with gaining those pips, stick to your plan, and you’ll dominate the market at that point. I’m slowly but surely headed there
You are right @justshell but the majority of aspiring traders are doing this for money and independence. Everyone are trying to get out of their average 9-5 job life which is understandable by looking at the latest economical reports about the increase of the gap between rich and poor. But I could agree that the formula should be mastery = money.
you’re right about that. I’m currently working a 9to5 and I absolutely hate this lifestyle. Some people are comfortable with it which I don’t understand, but everyone doesn’t have the same mindset clearly. I feel so drained afterwards, and it takes time away from me to work on my goals. Now don’t get me wrong, my job has blessed me with a lot and I’m thankful for that, but it’s just not for me. I want true freedom. So i literally have to work my butt off after work, having sleepless nights all the time just for me to learn and practice trading. And I realize that not everyone is willing to make the same sacrifices . In order to become successful in this business, or in any business, you can’t do what majority of people do, just can’t be regular you know?
Lol. Many people even don’t think about it until you ask them. Actually I’m one of such people. Money and mastery things which can work only together. No matter what is your original goal you will get the money while training your muscles or you will earn on your desire to become a professional trader.
I strongly believe that vast majority of people is on Forex market because of money. I am also and trying to master it only in order to get full benefit out of its potential. Honestly, I have never met anybody who is on this market just for mastering it