Very truth, I want to learn and make more money. Am a freelancer
I think trading is not a career or source of income. It’s more like a hobby. You work to make money and lose them in the market as a form of enjoyment
There are several posters here making money from trading. Enough to live off? Hard to say. And many do this more than just a hobby.
It all depends on how much you like trading and how professional you are in this. I know people who live only on money from trading. But they spend a huge amount of time on this.
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Not everyone can become a full-time forex trader.
If you keep your current position and combine that with forex trading, you can reduce the pressure on you and perhaps become more successful than traders who trade all day.
Although, it’s quite possible to make forex a lifestyle. There are hundreds of real examples of people living off of Forex trading or other markets. The main thing in this business is not to rush, not to lose money and let profits grow. It would seem - nothing difficult! But, unfortunately, few average traders can say that their main income is Forex trading. Most traders consider Forex to be an additional source of income.
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If someone has the expertise and knowledge to continue forex trading full-time, it is great. But unfortunately, everyone cannot become a successful full-time forex trader. Forex trading in the live market is not as easy as said. It takes a lot of knowledge and hard work for someone to do it full-time. I never recommend anyone to take any risks until and unless they are sure about it and can afford it in case they make a loss.
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It depends on your attitude to it. I mean that some people make a living trading forex, some people do it just for fun. It also depends on the budget that you are to invest in it. I believe that it is next to impossible to trade throught the whole life because traders experience lots of psychological pressure, so, many of traders stop doing trading and turn to investing after they have some decent amount of money to get tangible dividends.
If you’re really eager to turn trading activity into a source of money, then you’re welcome actually. You can turn any activity into the source of money, the only thing is needed is your personal wish. I believe that there are no bad activities, there is a lack of desires. If you want to make trading the main source of money in your life then yo ushould work a lot and practice a lot. There will be sad situations when you will lose your money, in such moments you shouldn’t forget about your main purpose. If something goes wrong, you should reach your goal anyway. I guess such approach guarantess you to sustain in your life.
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I think it is a really good idea. Having a second source of income would be helpful for everyone, including students, young families, provided you goy your head in the game.
If you are just starting forex trading, don’t think of it as a means to sustain your daily life. Rather take it step by step. In the beginning you should look at it as an additional source of income and have a secure earning option side by side. Know that you will also lose some money in the beginning. So there must be something to fund you.
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Forex Trading is indeed a long time career to sustain daily life.
The forex market will always be here and yes it is still the leading investment destination ever existed. Even if there are no traditional currencies left around, there will still be some form of currency exchange for trading and investment purposes.
It is never possible to have one single currency throughout the globe. Therefore, there will always be demand for currency exchange whatever the setting may be. Thus, the foreign exchange market will always exist, which means that there will always be an opportunity to trade currencies one way or another.
Despite the fierce competition from emerging investment destinations, the forex market kept its rank as the world’s largest financial market, with average daily trading volumes of $6.6 trillion. The global market cap of the foreign exchange market is $2.09 quadrillion. This is why there is so much liquidity in the forex market.
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I totally agree with that
Yeah it can be, but you have to be sure that you can give enough time to forex trading and have proper knowledge of it as well.
Trading is not a sprint towards the prize of vast super-wealth. It is a marathon towards a secure income that pays for a comfortable life.
It won’t get you a Bugatti Veyron. It can get you a Toyota Corolla every 2 years for the rest of your life.
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It can be but it’s not an easy road. Only very few traders trade full time and have it as their sole source of earning income, for most like me it’s just a way of making additional money.
Yes, totally! With the popularity of forex skyrocketing, everyday there are countless traders joining the world of trading. For novices, it is imperative to understand that profits in the forex market are driven by a number of factors such as capital invested, risk and money management strategies, limits on a single position, maximum overall exposure, currencies followed on trade, long or short term view etc. Also, before making it a full time career, understand that it is not an easy path to success and requires discipline and consistency throughout for reaping maximum benefits.
Yes, forex trading is a long term career to sustain daily life, but there are pros and cons of every thing. You can lose money and gain money. Both things can happen with you.
Knowledge and trading skills plays an important role in trading.
I still think that it is a hard way, a kind of career.
I read somewhere there are traders who can’t even read properly, but trade profitably, using only known to them methods and approaches. Perhaps this is just talking. But in other words, if a man can not read and write, and therefore did not want to / could not master this simple science, then why would he learn to trade normally?
As for the number of hours, then everything is strictly individual and very rarely the quantity can exceed the quality. You can live in the terminal and be in deficit all the time, or you can devote a couple of hours a week to it 1-2 times a week and live in luxury.
I could probably go full time, scale up with prop accounts, start youtube and subscription service, but I like doing it slow and steady on my own.
I think most of us start out as part time traders since it takes time to become profitable in forex. We need professional level knowledge and experience to reach a point where we can earn a living from trading alone. But I am sure there are successful forex traders out there who are doing well by choosing forex as their full time profession. It is a challenging and unconventional career path but can be highly rewarding if you have the skills and know-how.