Should I become a full-time Forex trader? | Page 4 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Are you a full Time Trader Or Part Time? 32 replies

from retail trader to full-time trader 17 replies

My strategy to become a full time forex trader 174 replies

Why do you want to become a full time trader? 1 reply

Should I become a full-time Forex trader?

  • #61
  • Jan 17, 2021 10:56pm Jan 17, 2021 10:56pm
Quoting Techanalyst
{quote} There is no trader/investor in the world that can double the account every month. Just not possible, mathematically, absolutely no way.
simply, if your hit rate is outstandingly good, it's possible.
and you dare to build a clever martingale for that.
traditional strategies are already doomed to failure because hit rates are not very good. maybe you can achieve great difficulties at the cost of 5-15% per month, but no more.
  • #62
  • Jan 18, 2021 1:06am Jan 18, 2021 1:06am
Quoting tiborf71
{quote} simply, if your hit rate is outstandingly good, it's possible. and you dare to build a clever martingale for that. traditional strategies are already doomed to failure because hit rates are not very good. maybe you can achieve great difficulties at the cost of 5-15% per month, but no more.


prove it
  • #63
  • Jan 18, 2021 1:17am Jan 18, 2021 1:17am
Quoting allinazi
{quote} prove it
mate.
I have already described the recipe.
  • #64
  • Jan 18, 2021 1:36am Jan 18, 2021 1:36am
Quoting tiborf71
{quote} mate. I have already described the recipe.

It’s hypothetical ...
  • #65
  • Jan 18, 2021 1:44am Jan 18, 2021 1:44am
Quoting allinazi
{quote} It’s hypothetical ...
assemble a system as described above.
test it.
  • #66
  • Jan 18, 2021 6:18am Jan 18, 2021 6:18am
Quoting tiborf71
{quote} simply, if your hit rate is outstandingly good, it's possible. and you dare to build a clever martingale for that. traditional strategies are already doomed to failure because hit rates are not very good. maybe you can achieve great difficulties at the cost of 5-15% per month, but no more.
There is no trader/investor that can double the account every month. It's impossible.
  • #67
  • Jan 18, 2021 11:37am Jan 18, 2021 11:37am
Quoting DeanLittler
If you have good investment and knowledge, you can join as a full-time trader. But in this case, you have to trade by controlling the emotions.
If you are doing any job or business I recommend to join as part timer.
  • #68
  • Jan 19, 2021 5:33am Jan 19, 2021 5:33am
Quoting ViktorDanie
{quote} If you are doing any job or business I recommend to join as part timer.
True, better do it as a part timer first until you're ready to do it full time. Its not as easy as it seems to be.
  • #69
  • Jan 20, 2021 1:20am Jan 20, 2021 1:20am
Quoting ViktorDanie
{quote} If you are doing any job or business I recommend to join as part timer.
Agree with this. Full time forex trading will take too much of your energy and time, not to forget your capital as well. If you are that confident that you will be able to rake in some funds and making profit, by all means go for it.
  • #70
  • Jan 22, 2021 3:59am Jan 22, 2021 3:59am
Trading techniques and strategy is the main route to success in the forex market. If you want to make money from this market you have to make a good plan From your post a lot of new traders can set their plan.
  • #71
  • Jan 22, 2021 6:41am Jan 22, 2021 6:41am
Quoting DexterDuncan
Trading techniques and strategy is the main route to success in the forex market. If you want to make money from this market you have to make a good plan From your post a lot of new traders can set their plan.
Yes Trading techniques and strategy is very important for success. But along with this our mind plays a big role in the trading. At the end it's our trading psychology that define our trading career.
  • #72
  • Jan 23, 2021 6:05am Jan 23, 2021 6:05am
I have been thinking the same question for awhile. Full time trader.

My work contract will end july this year. Not sure it will be extended or not. So I have been thinking of starting as full time trader as a back up plan.

I agree that $25000 capital is needed. But my target is $20000. I have an extra 10k in savings just in case I didn't achieved it by then.
  • #73
  • Nov 15, 2021 12:53am Nov 15, 2021 12:53am
Quoting ninohoang
Hi everyone, I have been trading spot Forex for about 2 years in part-time basis (I am having a full-time job). I still consider myself as a Forex newbie and I am still learning and becoming a better trader day by day. My first year was a break-even one. So far, my return has been around 20% for the second year. Is the result encouraging for a newbie like me? Should I become a full-time forex trader now? Hope to hear advice from those expert traders our there. Thanks
　
I guess if you have to ask the people here that questions, you are not ready.
Things like these you'll know it when you're ready.

Is your profit from your trading enough to afford your lifestyle and still have savings?
  • #74
  • Nov 15, 2021 3:06am Nov 15, 2021 3:06am
Quoting ninohoang
Hi everyone, I have been trading spot Forex for about 2 years in part-time basis (I am having a full-time job). I still consider myself as a Forex newbie and I am still learning and becoming a better trader day by day. My first year was a break-even one. So far, my return has been around 20% for the second year. Is the result encouraging for a newbie like me? Should I become a full-time forex trader now? Hope to hear advice from those expert traders our there. Thanks
Of course not. Only when you get a steady income and move away from randomness, then you can take risks. And to give up everything and start working in trading with not very much experience is not very prudent.
  • #75
  • Nov 19, 2021 3:24am Nov 19, 2021 3:24am
i think i should become a full time Fx trader even though i started my trading career as a part timer. but honestly speaking within very short time that's really difficult to know the real market principle then i realize i have to pass more time in this trading place , otherwise all my effort can be useless. now i am trying to be a full timer in trading.
  • #76
  • Nov 19, 2021 5:43am Nov 19, 2021 5:43am
Quoting FahadMD
i think i should become a full time Fx trader even though i started my trading career as a part timer. but honestly speaking within very short time that's really difficult to know the real market principle then i realize i have to pass more time in this trading place , otherwise all my effort can be useless. now i am trying to be a full timer in trading.
It is purely your decision how and when to become a trader on an full time. But my advice is, be careful.
  • #77
  • Nov 23, 2021 6:58am Nov 23, 2021 6:58am
No one can answer such questions for anyone and you shouldn’t let anyone do so. It’s a personal choice and only you know your circumstances. If you think you are making consistent profits and can easily pay your bills off through the earnings from forex then you can start your journey as a full time trader, but if there's room for doubt, it’s better to wait.
  • #78
  • Dec 3, 2021 6:56am Dec 3, 2021 6:56am
If 20% return is enough for you to fulfill your basic needs, you may consider leaving your job and dedicating full-time to forex trading. However I feel that if you are able to manage your job and still earn a good amount of money, you should keep the money flowing from both sides.
  • #79
  • Dec 10, 2021 5:26am Dec 10, 2021 5:26am
Nobody needs to be "full time", you might as well just trade in your off hours and down time while working.

If I went full time a few years ago I would have a much lower net worth now. Compounding is very useful.
Love to talk on Discord: DividendGamer#1324
  • #80
  • Dec 15, 2021 6:43am Dec 15, 2021 6:43am
If you are ready for the market and can manage risks well, you can become a full-time trader. I am saying this because I am assuming that you have already been trading forex part-time for some time now. If you haven’t, you better do that first.
0 traders viewing now