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 youâre really eager to turn trading activity into a source of money, then youâre 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 shouldnât 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, donât 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 worldâs 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 wonât 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 itâs 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 itâs 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 canât 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.
There are many traders who start forex as a part timer but now have started doing it full time. No doubt it is a volatile market but yet great rewarding. So make your decision well.
Absolutely buddy! In forex trading, there are great rewards, but there are also great risks, so one should be mindful when going full-time into the profession as there may be uncertainties along the way, but he or she will know their strengths better than anyone else.
Forex trading is a great full time career option but only to those who are dedicated and passionate about trading. Most importantly who are risk-takers and understand how the market works.
Yes, it is. If you follow the right approach, keep changing your strategies according to the market, and back yourself from risks - it is a lifetime career to choose.
Yes, trading can be a long time career to sustain daily life as long as you have both ambition and patience to trade.
In my opinion, as a novice trader, a good amount of passion and interest in trading can change one into a full-time trader with good returns, though I still consider it somewhat risky. However, after gaining some experience, I might move into full-time trading.