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Should I become a full-time Forex trader?

  • #81
  • Dec 15, 2021 6:47am Dec 15, 2021 6:47am
Quoting louiseking
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.
This is a crucial step, and a person must be sure of what will be beneficial to him.
  • #82
  • Dec 28, 2021 4:10am Dec 28, 2021 4:10am
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 would recommend you to set your goals and hit them one by one. If you have faith and are not afraid of failing over and over, you will make it.

Cheers.
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
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  • #83
  • Jan 11, 2022 12:54am Jan 11, 2022 12:54am
Before becoming a full time trader, I think that it’s very important that you save some money at least for the expenses of one year. When traders quit their jobs to trade full time, they feel more pressurized because there’s no other means of earning and they are so dependent on trading that they can’t afford to lose. This makes them overly emotional which can be quite harmful for trading psychology.
  • #84
  • Jan 11, 2022 1:00am Jan 11, 2022 1:00am
full time trading is a big challenge , you need to make sure a strong financial back up when you decide to be a full time trader , because first stage of trading you cant bring profit , so its really a tough game. majority full time trader are successful in trading and they are professional.
  • #85
  • Jan 12, 2022 4:04am Jan 12, 2022 4:04am
Quoting Razzle
{quote} I predict 17 July 2014, sometime between 15:17 and 16:36 jesus christ, the questions some people ask
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #86
  • Jan 12, 2022 4:08am Jan 12, 2022 4:08am
....so here is a little help for anybody considering becoming a full-time FX trader.

https://bit.ly/2N5P9pi
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #87
  • Jan 12, 2022 5:15am Jan 12, 2022 5:15am
Quoting Exodus
....so here is a little help for anybody considering becoming a full-time FX trader. https://bit.ly/2N5P9pi
There are no viruses on the link.
  • #88
  • Jan 12, 2022 6:49am Jan 12, 2022 6:49am
Quoting Exodus
....so here is a little help for anybody considering becoming a full-time FX trader. https://bit.ly/2N5P9pi
Apologies ... it goes here

https://www.dailyfx.com/education/tr...ing-myths.html
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #89
  • Mar 7, 2022 1:36am Mar 7, 2022 1:36am
Quoting Epeolatry
Before becoming a full time trader, I think that it’s very important that you save some money at least for the expenses of one year. When traders quit their jobs to trade full time, they feel more pressurized because there’s no other means of earning and they are so dependent on trading that they can’t afford to lose. This makes them overly emotional which can be quite harmful for trading psychology.
I got your point, but one year expense is not an available potion to all! I think, traders need to take this decision based on their real trading performance, if they are consistent enough from a long period of time, then they can go for it! But, as we know, there is no guarantee on the monthly fixed income! That’s the challenging part!
  • #90
  • Mar 9, 2022 5:36am Mar 9, 2022 5:36am
Quoting Exodus
{quote} Apologies ... it goes here https://www.dailyfx.com/education/tr...ing-myths.html
Thank you, dear sir!
  • #91
  • Mar 9, 2022 7:41am Mar 9, 2022 7:41am
now i am trading at full time after having a long break. enjoying the environment.
  • #92
  • Apr 14, 2022 1:59am Apr 14, 2022 1:59am
Those who are full-time trader invest their whole day in trading. They are those investors who are expert in trading. Those who are not expert can’t trade in Forex as full time traders because it causes loss for them ultimately. Full time traders need a well-defined strategy that will give them profit on average.
  • #93
  • Apr 20, 2022 11:11pm Apr 20, 2022 11:11pm
It depends on your experience whether you should be a full time Forex trader or not. If you see the possibility of getting loser by the end of the day, you should think about it once again. Always try to sketch out an idea that can make your trading productive.
  • #94
  • May 1, 2022 11:10pm May 1, 2022 11:10pm
Full time trading, the idea is kinda good. looks like a ton of freedom but as a retail trader the market decisions completely upon you. its only you. there will be times of continues drawdowns and hope it will not force you to revenge trade. If you can stick to your job or find a part time job if you are not happy and you should also consider swing trading where we hold our positions overnight maybe 5 days or a week. this will give you more time to think in the market and also you can continue with your job.

And the rest is your choice, this is my opinion just.
Good luck my friend I hope you become more profitable.
  • #95
  • May 4, 2022 9:25pm May 4, 2022 9:25pm
No, you should not trade Full-time, trading can be very stressful.

Nothing is guaranteed in this game. let's say your monthly expenses are 4k and you make 5-6k trading a month... What happens if you lose 5k for 1 month. that means you are out 5k + your 4k in monthly expenses. Then you need another month to be where you are at 1 month but you still have 4k in monthly expenses. So over the last 2 months, you've made no money on your trading because of a small drawdown + you are 8k behind expenses. I only recommend full-time if you are making 150k a year + have reasonable monthly expenses.

Opening up the 2nd business and creating a 2nd stream of income is probably one of the most important things you can do because if you have a bad month of trading, you still have other sources of income coming in. Trust me, after 1-2 years of only trading full-time you will learn to manage your time and you will realize you are bored so you will look for new things to occupy your time.
  • #96
  • May 5, 2022 6:18pm May 5, 2022 6:18pm
If 10% of your capital can provide a risk aware return of your monthly expenses, you have enough capital to be an independent trader.

But you should keep working, and compound your money faster that way. Then start funding real estate/crypto.
Love to talk on Discord: DividendGamer#1324
  • #97
  • May 20, 2022 12:07am May 20, 2022 12:07am
i would probably do this on the side for a couple more years. Full time trading may not be the same as "part time" trading!
  • #98
  • Jun 14, 2022 2:22am Jun 14, 2022 2:22am
It depends on your capability. If you think you can derive sufficient amount of profit from trading, you can choose full-time trading. Otherwise, stick to part-time trading as long as you are not well-learned. Follow all the possible approaches of learning and take lessons from mistakes.
  • #99
  • Jun 14, 2022 8:40am Jun 14, 2022 8:40am
Hi, I need advice. I have an emergency fund for 4 years without work(30.000). My balance is 30.000 .
I took a huge risk this year, so go up 4000% a year DD 50 percent. I took a huge risk because of low consecutive loss, I trade 2-3 times a month(swing). My parent suggests, that I don't quit the job. But I will be disowned when I quit. I am already backtesting and forward testing my strategy, some years have negative returns and low returns. Should I become a full-time Forex trader?
  • #100
  • Last Post: Jun 14, 2022 3:01pm Jun 14, 2022 3:01pm
Hello traders,

Yes you can be a full time trader and make a living trading but on some conditions you must meet first before become a profitable full time trader as follows:

1- You have to master a backtested and profitable strategy

2 - You have to be experienced trader

3- You have to be well capitalized

4- You have to trade with ECN trusted and reputable broker.

5-Don't trade with leverage more than 4:1 maximum.

Wish you happy trading

Thanks
I always knew that someday I would make it big
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