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Forex Trading As a Full Time Job (Video)

Post on: 18 Июнь, 2015 No Comment

This is our 7th video published on YouTube. Please make sure to watch the previous videos before watching this one.

This video is the continuation of the 6th video. In the 6th video we have explained about the different stages everybody has to pass to become a successful and professional forex trader. In our 7th video it is explained how to work on forex trading and make it become your full time job. At the end of the 6th video, it is explained that you have to repeat your live trading success at least for 3 consecutive months. Then you have to go for the stages that are explained in our 7th video.

When you become able to repeat your success for 3 consecutive months on your live account. it is time to think about currency trading as your full time job .

When Can Currency Trading Become Your Full Time Job ?

Currency trading can become your full time job when…

You are a consistent trader:

You have built your confidence.

You are confident about your trading system

You are able to control your emotions. A consistent and confident trader has already tested and practiced enough, and has found his way. He is not curious to test anymore. He is ready to keep on making money through his trading system for good.

You can have a reasonable account, big enough to make enough monthly income. Professional and full time traders do not think about doubling their accounts every month. Although many of them can do this, they still prefer not to take too much risk and stay at the safe side. They make about 5 to 10 percent profit every month. Therefore, when you want to become a full time trader, you have to have a live account with a reasonable size to make enough monthly profit to cover your expenses. For example, if you have to make $8000 per month to survive, then you’d better to have an $80,000 account at least. If you can not afford to open a live account with such a size, then you can open a smaller account, keep on trading without withdrawing any money, until you grow your account.

What Does Currency Trading Mean As A Full Time Job?

When you quit your full time job and become a full time trader, you should note that trading has significant differences with the full time job you had. Maybe in your previous full time job, you were used to work for 8 hours per day at least. However, it does not mean that as a full time trader you have to sit at the computer for 8 hours a day. Do not allow your past experiences to affect your trading job. Trading is different than all the other jobs. Most full time traders spend only a few hours per day on trading or even less. Trying to spend too much time on trading, can be ended to over-trading. and over-trading can be ended to loss. Just stick to your trading system and follow it. Take the position only when your system shows you a trade setup. Sitting at the computer for several hours can not make the currency market create trade setups for you. When there is a trade setup, you see it and take it. When there is no trade setup, you go and come back tomorrow. This is what a disciplined trader does.

Please watch the video carefully:

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