Part Time To Professional - What's the secret?

J_C_Anderson

Trader
Aug 15, 2018
64
8
19
40
It seems that being a professional full-time trader is dream for each part-time "home" trader. It is important to remember that trading is extremely stressful especially when it is a full-time job, so it is suitable not for anyone.
To become a full time professional, retail trader needs to:
- transform his mindset and think about the trading as about profession, not as the way of getting rich quickly,
- start the life-long path of self-education, which is the one of the most important things in trading,
- create a personal schedule with the time for rest and sports.

To have enough time for such transformation, first of all trader needs to deal with all time-consuming routine.
To do so, you can try the following:
- reduce the informational overload, choose 2-3 reliable sources to read,
- subscribe on one of the advanced newsfeeds to make your pre-trading research faster,
- use special tools (like Forex Tester) to backtest your strategies and check new ideas even before demo trading,
- review your trading journal and get rid of all criteria you do not use in your analysis.

Each trader can create his own ways to deal with routine to find time for self-education and experimentation, which are necessary for the transformation to the full time professional.
 

Ann

Active Trader
Mar 4, 2018
68
9
29
26
I tried to trade in the company of a trader, in the mode of the applicant for the position. The company invited traders, but the trader had to pass the selection. We traded according to the requirements of the company for money management and risk management. I did not like. Too many restrictions. It's hard. Freelancer trade better.
 

37riched

Trader
Dec 26, 2018
117
21
24
32
It seems that being a professional full-time trader is dream for each part-time "home" trader. It is important to remember that trading is extremely stressful especially when it is a full-time job, so it is suitable not for anyone.
To become a full time professional, retail trader needs to:
- transform his mindset and think about the trading as about profession, not as the way of getting rich quickly,
- start the life-long path of self-education, which is the one of the most important things in trading,
- create a personal schedule with the time for rest and sports.

To have enough time for such transformation, first of all trader needs to deal with all time-consuming routine.
To do so, you can try the following:
- reduce the informational overload, choose 2-3 reliable sources to read,
- subscribe on one of the advanced newsfeeds to make your pre-trading research faster,
- use special tools (like Forex Tester) to backtest your strategies and check new ideas even before demo trading,
- review your trading journal and get rid of all criteria you do not use in your analysis.

Each trader can create his own ways to deal with routine to find time for self-education and experimentation, which are necessary for the transformation to the full time professional.
Well explained. To add onto this, a professional trader should have enough capital to sustain the trade and pay bills since you'll do trade full time to put food on your table. You must transform your mindset and schedule your trading to give room for your other daily routines
 
  • Like
Reactions: Zack King

Ulacan

Trader
Feb 21, 2019
91
8
14
Hi JC, these are great points. I must admit that restand exercise have never passed through my mind as a requirement, but now that you've mentioned them, I feel the weight. My goal is to become a professional trader some time in the near future. Thanks for sharing the tips
 
  • Like
Reactions: Mauk
Feb 10, 2019
20
4
4
32
Well explained. To add onto this, a professional trader should have enough capital to sustain the trade and pay bills since you'll do trade full time to put food on your table. You must transform your mindset and schedule your trading to give room for your other daily routines
Good point
 

ghosttrader

Trader
Mar 13, 2019
2
1
13
29
gtrader.eu
Well explained. To add onto this, a professional trader should have enough capital to sustain the trade and pay bills since you'll do trade full time to put food on your table. You must transform your mindset and schedule your trading to give room for your other daily routines
Agreed.. if you don't have or don't make time for any other activities on the side, you'll probably go crazy :rolleyes:
 

Dictorsto

Trader
Dec 23, 2018
54
3
9
32
To become a full time trader is a very long path. Experience on Forex market needs to be significant which takes couple of years to gain. Then it comes to good formed strategy and trading method which will provide continuous and sustainable profits. Everything is achievable but requires dedication
 

Ary Barroso

Active Trader
Jul 9, 2017
896
58
39
31
To become a full time trader is a very long path. Experience on Forex market needs to be significant which takes couple of years to gain. Then it comes to good formed strategy and trading method which will provide continuous and sustainable profits. Everything is achievable but requires dedication
No doubt; it’s a long term path and only few percentage of traders are able to achieve it. This is why; till now the success ratio is below 10%.
 
  • Like
Reactions: Zack King

Zack King

Trader
Mar 4, 2019
82
14
14
anyone here actually earn a living from forex trading? If so how long did it take you to get there (full time)?
 

Ary Barroso

Active Trader
Jul 9, 2017
896
58
39
31
anyone here actually earn a living from forex trading? If so how long did it take you to get there (full time)?
I started my trading when I was a college student (during 2011). So, I had full of free times; as a result I spends enough time on learning. I opened my live account after 1.5 years demo & now Forex is my main source of income.
 

Uaredaty

Trader
Jan 19, 2019
40
2
14
27
Ary I congratulate you. You have done what I am still dreaming of. But, nevertheless, I have my goal in a several years and good trading strategy to move in a full time trading and supporting my living from trading profits
 

Ary Barroso

Active Trader
Jul 9, 2017
896
58
39
31
Forex trading has stages that one must pass through. As a newbie, you start with a demo or micro account before going into a live account. Once you start making consistent profits that can put food on your table and pay your bills, then feel free to move to professional trading
You described the right way of using the demo account but the problem is; new traders have a tendency to judge their trading skill too early. As a result, they suffer in their live trading on early stage.
 

Baazex

Trader
Oct 28, 2019
53
1
14
21
The beginners in trading business are the once who face struggle most because from learning to implementation they are switching to different things and platforms to find the perfect one for them and sometimes they suffer because of this a lot
 

Petez_FX

Trader
Aug 13, 2019
81
15
14
28
Tip one is to forget about the money, don't look at P&L and just trade. Nothing worse than looking at the chart, and looking at your P&L whilst it goes up and down.

Two: Learn as much as you can, put in countless hours and back test your strategies.

Three: Start on a demo account if you are totally new to Forex, however if you've got experience already - use mini lots on real with your strategy.