Monday, 22 January 2018

Can I Be A Full-time Trader? 3 Questions To Find Out

Posted by Anonymous at 10:40 Labels: ,

Don’t lie to us. We know you have thought about it, and not just once. It’s normal and trust us, you are not alone on that one. Becoming a full-time forex trader is the dream of many newbies but only few are able to really turn into a reality.

But if you are asking yourself whether you are made up for it or not, then you’ve already gained some experience. But… how do you make sure that is enough?

Below you can find 3 questions that you could help yourself define whether full-time trading matches with you maginally, you are ready , you need to learn more or you better don’t.

1 - Do you have enough experience?

In order to move from a part-time to a full-time trading modality, you have to make sure your experience is enough to keep your game on top. Otherwise, the risk is too big.

We would advise at least two years handing a real trading account on part-time basis before taking a more serious approach with trading.

You have to understand that trading full time means trading is your main source of income. If you are not making good profits as a part time trader, what makes you think that would improve by putting more hours into it? Start by turning your part time trading green, then move forward.

2 - Do you have enough money?

Capital is a big issue when it comes to full time trading. You simply cannot trade with a $1000 account wishing to gain $3000 per month. Is not going to happen. Be realistic.

Leverage will help for sure, but you must be careful with it. Plus, it is key to understand trading capital must be completely separated from your everyday cash.

3 - Are you strong enough?


Nope. We are not asking if you have muscles, but if you have enough mental strength to deal with the pressure of a fast industry like Forex. For the time being, trading has been just an additional part of your life, but becoming a full-time trader means your bills will depend on it.

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