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.
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.
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.
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.
From the thousand articles you read this week about the market, gold has been mentioned over and over again as a safe-haven asset. And yes, despite...
The fact that you made a couple of bucks buying and selling Bitcoin doesn't make it a true investment. At least not for Warren Buffett, one of the world...
There are plenty of blogs out there. Some good, some not. And there are thousands of publications talking about risk management. While many...
The yield of the benchmark 10-year Treasury note reached 3 percent in the previous session, a level not seen since January 2014. Gary Pollack, head of fixed-income...
A synthetic cross currency pair refers to an artificial combination of currencies usually not available in the market. If you are taking your first steps in the Forex market...
The Forex market is not a scam. In fact, it is an amazing place to make money. Unfortunately, dirty scammers (which operate not only in the Forex market...
When it comes to risk management, everything counts. And defining the right size for your position plays a key role in the equation. Intuitively...
There are so many Forex blogs out there. Sometimes I think too many actually. But some of them are pretty useful (like ours, of course) and a common...
I am sure you've heard of it. The term 'trade the news' refers to those guys who would rather read newspapers all day instead of sitting...