Forex trading is an occupation, not a hobby. When I say occupation I don’t mean a profession, I mean Normandy. If you are not sure you want to spend the time to trade it is best not to start, the market will run away with your wallet (chain and all). When they say 90% of traders fail what they mean is 10% of the traders take the other 90%s money and spend it at Vegas and on sports cars. There is a reason you have to sign 20 risk agreements to open an account.
Trading for a living is an ongoing process: designing, testing, trading and repeating . Not all systems work forever, you might end up having to tweak your system or even make a new system every year. As you get better at trading you will probably want to expand your system or even trade 2 or 3 or 20 systems. Creating/researching a system does take much more time then actually trading it, but you will want to always be creating/researching.
There are 3 ways to increase your equity curve: better winrate, better payrate and more available trades. Every day you will want to improve these. Every day you will need time.
I am not trying to discourage you. if you are willing to put in the time you can get the rewards. But like everything, you need to train for it.
Trading for a living is an ongoing process: designing, testing, trading and repeating . Not all systems work forever, you might end up having to tweak your system or even make a new system every year. As you get better at trading you will probably want to expand your system or even trade 2 or 3 or 20 systems. Creating/researching a system does take much more time then actually trading it, but you will want to always be creating/researching.
There are 3 ways to increase your equity curve: better winrate, better payrate and more available trades. Every day you will want to improve these. Every day you will need time.
I am not trying to discourage you. if you are willing to put in the time you can get the rewards. But like everything, you need to train for it.