Trading for a living. Tip #1 - page 3
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I think this is a different process for everyone, off course there is completely necessary to be disciplined and control emotions in the moment of trading, but off course start in this market is not easy for everyone, depends on the knowledge you have about it and the time you have for spending in the learning process.
Fantasy Vs. Reality The most important thing you need to check yourself for, if you want to be a professional trader, is the ability to identify your fantasies and quarantine them, as opposed to reality. As a professional trade, I have been able to identify real forex issues, as opposed to dreams and fantasies. I have the ability to quarantine them, and put them aside. Without this skill, one can never achieve the goal of trading for a living. I have ran across many traders, who dream of making millions, while they have a few thousand dollars in their accounts. One friend started with $2000, and wanted to be a full time trader! These are fantasies. Those people will try to open positions on a large scale, and thus endanger their account against margin calls, and thus a complete failure.
As I have mentioned in a previous tip, a 3% monthly gain on account is realistic. Amounts like 30% and higher, are just fantasies
I like too much that post, there are people believing so hard that the pips they are doing in a demo is for real, so they ask for the way to get that money. I know that the reason number one trader get disappointed of the market, it´s not market´s fault, it´s trader´s
the most important is continues profit if you've got 3% a month and stable it's better than 30% then big drawdown happened
Good tips. I see that trading forex is for the big boys to drive one direction at a time huge....
All u need trading for a living is time. Experience, of course, but u are gong to get it when u have a lot of free time, so of course, time is the most important.
Sure time is really necessary but off course the way you spend it is more important, because if the trader doesn’t know the exact places to read and get informed the time can be wasted. I think it is not easy for no body. I mean the process for each person is different.