If you have such a plan in life, then you must develop a powerful strategy. Keep your eyes on the market movements and gain more knowledge. It’s true that your strategy won’t work as per your expectations forever so better to back test and switch your strategies.
Good luck.
I also think it is important to pay yourself if you are working in trading even part time.
I think you need to risk some more money in order to make money. If you are only able to pay your bills through your profits, then you are not doing enough.
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It is important that you follow a strategy and keep making adjustments to it as per the trade. Don’t rush into it as the chances of earning profits are not forever high. You might not get regular ‘income’ on it so just be careful.
You need to risk some more money in order to make it work for you.
You can try different strategies on a demo first if you are skeptical about it. Once you find a profitable trading strategy, you can make use of it and stick with it throughout. You don’t always make profits so be careful and make wise decisions.
Daily compounding beats monthly compounding. The shorter the compounding period, the higher your effective yield is going to be, Since the guiding principle behind compound interest is that the shorter the compounding term, the more interest you earn, you would expect daily compounding to provide more interest than monthly compounding.
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For me, making profits on a regular basis is the biggest achievement in the forex market. I have started to pay my bills with my profits. I am planning to leave my job once I start saving with the profits I make.
My plan is to never withdraw money from my trading account until the day when I can withdraw a year’s “salary” at one transaction. Regardless of the size of your account, it never gets easier to generate a given percentage of profit: but the larger the account is, the more capital that percentage is worth.
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