Trading for a living is not a myth. Treat it as a business. Do your research, stick to a plan. Fx is very rewarding both financially and mentally. Do not become fixated on indicators, study one currency thoroughly and become familiar with its quirks. Learn about Pivot points, Support and Resistance, Trends. Identify tops and bottoms for entry and exits.
Keep in mind that you are only trading against yourself, the market does not give a toss about you. Find a system, a time frame and a currency pair that works for you. Practise it over and over again, don't get upset if you blow a demo account, go back over your trades and figure out what you missed. Identify where you went wrong and fine tune your system, whether it is technical or fundamental. Don't discard your system immediately, you picked it for a reason either consciously or subconsciously; fine tune it. Identify your lack of knowledge and add to it. Don't add noise to your system by loading up on indicators, flipping back and forth on time frames or changing currency pairs.
All successful traders keep it simple, they spend hours researching and only enter a trade when they feel confident. They will have an entry plan and an exit plan, successful traders stick to their plan and do not get distracted.
Forums like this are good for research and good for making you think. Find what works for you and work on it constantly, keep learning, improving, finetuning.
Keep in mind that you are only trading against yourself, the market does not give a toss about you. Find a system, a time frame and a currency pair that works for you. Practise it over and over again, don't get upset if you blow a demo account, go back over your trades and figure out what you missed. Identify where you went wrong and fine tune your system, whether it is technical or fundamental. Don't discard your system immediately, you picked it for a reason either consciously or subconsciously; fine tune it. Identify your lack of knowledge and add to it. Don't add noise to your system by loading up on indicators, flipping back and forth on time frames or changing currency pairs.
All successful traders keep it simple, they spend hours researching and only enter a trade when they feel confident. They will have an entry plan and an exit plan, successful traders stick to their plan and do not get distracted.
Forums like this are good for research and good for making you think. Find what works for you and work on it constantly, keep learning, improving, finetuning.