Totally agreed, that's the most important point you should consider.transform his mindset and think about the trading as about profession, not as the way of getting rich quickly,
What credentials does it take for a part time trader to become a full time professional trader?
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 routinesIt 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.
Thanks AryWhen you have a good trading skill; then nothing is impossible; even; you can make enough money as a part timer.
Good pointWell 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
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
Thanks Ary
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
anyone here actually earn a living from forex trading? If so how long did it take you to get there (full time)?
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