Forex trading is long time career to sustain daily life?

Trading Discussion Trading Lifestyle
1

Hi,

I always have this question in my mind and many of them having too. I always thinking professional full time Forex trader do really make money?, How much they make?, Is Forex trading is a really way to be rich?

I know some here some will say Yes or some say No .

peoples do Jobs , Offline business (Offices, Hotel, agency, etc), online business (Affiliate, Ecom, freelancer, advertising, etc) and others, to sustain there daily life and needs. These are the careers peoples choose and do full time successfully for longer time or lifetime.

But do peoples really make long time profit from trading for longtime/lifetime? can being a only full time Forex trader is enough to live a life and fulfill daily needs?

I know Rich peoples, Entrepreneur, Business man do trading in there regular life and earn a lot from them but for them trading is not a primary career, they do trading to secure there investments and to grow there profits. So is it good make trading as a primary career?

Anyone here, do trading for above 15+ years? and with only trading they living life?

Here , I am not talking about Forex brokers, Fund managers, IB/Affiliate Forex commission earner, Investment companies, Signal providers, EA/Indicators sellers, Forex/Meta-trader Freelancer, (Of course these peoples make tons of money) So exclude them. I am talking about Individual/Retail traders .

Can anyone answer this?

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2

I have a same question.
I think, trading is not for primary career at begin.
So you must have other income for your life until your trading can give profit for your lifestyle.

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3

I think majority of the traders are only part-time traders.

4

You can do full-time trading if you can create a trading mindset. However, in this case, proper trading knowledge and discipline is required. And it is necessary to trade according to the target by giving up emotions.

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5

I trade for ten years, and it is my second source of money

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6

I think this becomes a question of account size and performance and withdrawals.

To make a living, you need X amount of money over some time frame, so weekly or month or yearly.

Keeping your risk management parameters in mind (for example, 2% risk per trade) + growing your actual account size by some % + withdrawals to buy food, pay rent, pay for Netflix, etc., you can get an idea of where you need your trading performance to be to sustain daily living.

For most people, living of trading profits would require a substantial account size and really good trading performance. But it also depends on what amount of money you need to survive.

Imagine having a $20K account. What your reasonable rate of return on that monthly? Take that amount. Could you live off of it? What if your trading success rate drops? Could you life of that amount?

Figure out your numbers… go from there.

7

Whatever you start, it will take time and patience to bear fruits. The same way is with trading, it also requires patience. To make trading a long time career plan, you need to be consistent in learning and should make trades according to the market trends.

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8

I bet a good number of people have made their fortune trading fx but I bet it’s also not their money. Maybe commission + salary if they’re really good. Or maybe theyre a good individual trader too. Either way, I know it will be difficult for the average Joe to turn fx trading into a full-time endeavor. I don’t think you can eat what you kill with trading right off the bat, not even for the first 5 years I don’t think.

9

Hi, good question, I personally think (after reading few books) that putting profits and richness somewhere in the future is not really good idea, I trade with very small account, it is tough and frustrating game but when I stop thinking about money or making fortune out of forex I get better results. To be honest I would love to trade forex for a living. On the other side I don’t think that real profit making players will answer this question here.

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10

Yes, you are right, Forex trading helps to set long time goals. It is not possible to achieve success in Forex trading in one day.

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11

its the thing that you want to develop and build up to freedom of work but that takes time and dedication so a lot of traders still rely on another income

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12

I think it’s on you how much willing, capable or determined are you to make it a long time career and earn good money out of it.

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13

Relying completely on trading for your entire life is definitely not a sensible practice. Yes, its a fact traders to earn a fortune and make tons on money once they are trading from a while and understand it. But, no one start with trading as a primary source of earning. The reason is trading is an art and skill both, you need to have enough experience and knowledge to earn from it.

14

I think the idea of quitting your job and living only on trading is fascinating. Reality is that trading for a living is a tough job that requires a very specific skill set and risk tolerance that most people don’t possess.

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15

It is up to you what you want to do with your forex trading career. From making short-term gains to making long-term investments, you can take advantage of the market in a number of ways. You just have to make sure that you prepare yourself well for the market risks that will come your way.

16

To make trading a sustainable career, you should be determined enough and need to have sufficient knowledge.

17

Start forex trading as a part-time job first. Learn about the market as much as possible. When you are confident enough that you have gained in-depth knowledge about the market, then you can think of becoming a full-time trader.

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18

Potentially yes.
But in the same way that setting up your own business would be. WOuld it be easy no not at all. But it is possible.

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19

This seems like a legitimate question and I’m looking forward to answers by some expert traders here. Thanks for posting this.

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20

yes, u nail it :smile: having enough capital to generate minimum return to sustain also another issue which can be planed but most often then not, trader don’t .