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Can one earn a living from Forex?
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[QUOTE="Bella.a, post: 202754, member: 78941"] You need to have a very good plan to look after two key area of points in your Forex-career. ( i will keep it short & i have to mention trading strategy which is obvious) 1. Financial Survival : Preventing drawdown of your account balance to a point which forces you to stop. 2. Personal Survival : maintaining the passion of trading , and motivation to continue for as long as necessary. 3.Trading Strategy : A Trading Strategy that suit your needs ( everyone is different , i like indian chicken curry while my neighbour loves some turkish kebabs , both of us have one thing in common we live on same street . Suit your needs ). Financial Survival and Personal Survival both requires a lot of planning and you need to realize like any business forex trading is also a business that requires a well written business plan. One of the most important point is Money Management of your Business ( Finance ) a. How will you manage draw down ( individual trade risk , session draw downs , business draw downs .. etc ) b. How will you maintain your life-style. ( the time frame of consistent profitability is unknown so your financial survival plan needs to be able to last as long as necessary to ensure goal is achieved ). well, above two basic points which new traders needs to understand and realize having [B]Realistic Expectations. [/B]Remembe[B]r [/B]it is your Personal Growth and it will take time. -Bella [/QUOTE]
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