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Forex Discussions
Newbie Questions
Can one earn a living from Forex?
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[QUOTE="Qsigma, post: 180930, member: 66749"] For your question answer is yes. Trading is so relative. Trading can be a survival plan for someone while it can be a investor plan for another one. Let me explain. Financial Market trading is one of best way to multiply money. This is the most essential step of being wealthy. Because the money that earn should multiply.For some one this Financial market can be a survival plan. Means he/she will not multiply but gain what he wants every month. Usually i do this both. I have a survival account that support my living. i just try to reach consist with some percentage every month and i withdraw 75% - 80% from it. And also there is another account that i never withdraw. i am compounding it for years but slowly. that is my investor plan. It is practically easy to multiply several times ( practically capable of multiplying 6 times of your capital : depend on many variables) of your capital within 5 years. It is a good investor goal. Most investors try to reach.So this is how i trade full time. I believe if you are willing or if you are a full time trader you need short term goals as well as long term goals. In this all games it is better to have a good amount of money and it is better if you can create some other income sources too. Extra Notes ------- Survival Plan:- Assume that your monthly living cost you around 1000 usd. If you have a 1000 usd capital it is about 100% each month to make. It is so unrealistic. If you have a 5000 usd account it is about 20% each month. To do every moth it is hard. If your capital is 10000 usd it is about 10%/ If capital is 20000 usd it is about 5%. You can see when capital increases it getting easier to gain it. so never ever try to make 100% try to make 5% but with consist. Consist is the most important. So try not increase percentage but try to increase capital and lower the percentage. It will make you easier to become a full time trader with less stress. Investor Plan :- Try to reach rewards with lowest risks. that is most important when you compounding, the low risk. Then you can safe your capital. With time it will multiply.again try to make with lowest risks. it will let you to play long term. For investor plan. [/QUOTE]
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