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Five important moments in the care of "professionals"
Most traders working on the forex market, with a regular "day" job and trade a little in your free time, and some do it when not near the boss.
And many are thinking or dreaming about quitting your job and go Pro – earn a living only by trading forex.
When should this be done? Note 5 important points:
1. Profitable trade for at least a year: To evaluate if You have a reason for choosing forex trading as your main profession, you need at least a year of successful "internship". During the year, You will be able to deal with a variety of phenomena in the markets. And this is the minimum period.
2. A substantial income for three months: You already receive a significant monthly income trading? Significant means that it is possible to pay the rent or mortgage, make significant savings and it is a significant part of Your total income.
3. Expansion plan: Getting a significant amount of trade is great, but you can increase them to such an extent to make a living? How? Slowly, develop a plan of how it will be Your daily trading practice– after all, Your daily schedule will be different, if You don't have a regular "day" job. Time should be distributed efficiently, starting from the first day.
4. Money: By money I mean the need for wealth. If You were rich, You wouldn't need any such trading forex, right? I say that you can continue your life as normal for some time, getting additional profit from forex. If You fast not "expand" the trade practice, then You will need money to cover Your current expenses. The more money You have, the more patience You will have to trade for a full working day, and the more chances of success.
5. Plan B: Adhering to the previous point, You need a "plan B" in case something suddenly goes wrong. It may be a return to the previous job, or some other way. If You're aware of the possible worst-case scenario, You will gain confidence and You will have the best chances to achieve success.
|Category: Forex | Added by: (29.10.2017)