Trading for a living
Hello dear traders.
I have seen a post on a social trading site, about what does it takes to stop job and live from trading, or if it's possible to have A MONTHLY INCOME from trading.
I just want to share this tip with you, beginners traders or just to those guys that are struggling to make profit monthly.
Please understand that the following tip is just from my experience and if is working for me, it should not necessary work for every one.
I do not rely on monthly income or profits from trading to cover my expenses....bills, shopping and the rest, but I calculate the total profit AT THE END OF THE YEAR like so:
- with profits from 2018 I will make the budget for 2019, SPENDING or REINVESTING
- with profits from 2019 I will make the budget for 2020 and so on...
IF YOU ARE A BEGINER and you are thinking to make money from trading, try to consider to keep a job for minimum 1 year parallel with trading, or if for example you have a 10.000USD account, than you should definingly have another 10.000 to x.000.000USD depending on each individual, to cover your expenses for the year on course.
Like this the pressure of trades will be insignificant, and you will not be affected by positive or negatives trades ( closing to early positive trades or to late negative trades), like those TRADES THAT WILL COVER YOUR EXPENCES for the following month....Because a Stop loss should not be like '' ops, there goes my rent money...or my fuel....or my new TV … or whatever'' and a TP should not be '' yes, now I can go out with my girlfriend....or I can pay rent...or whatever)
very good advice thanks for sharing
Hi Guys I need all the help I can get, I am a beginner from australia and I haven't started trading yet, I'm trying to rap my head around everything first. Who can i get help from to start me off. I'm thinking of virtual trading if that makes sense. I'm trying to read as much as possible, I'm interested to know more about the tester before trading, as you can tell I am a true beginner, but I'm willing to learn, I haven't made a deposit yet until I have some understanding, if yous can give me some tips on how to start I am truly grateful. I think 24/7 automation with the tester is a starting point for me if that makes sense and also joining the cloud. Ty😁
Where Do I start from?
https://www.mql5.com/en/forum/212020
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https://www.mql5.com/en/forum/193510
- 2017.07.25
- www.mql5.com
Hi Guys I need all the help I can get, I am a beginner from australia and I haven't started trading yet, I'm trying to rap my head around everything first. Who can i get help from to start me off. I'm thinking of virtual trading if that makes sense. I'm trying to read as much as possible, I'm interested to know more about the tester before trading, as you can tell I am a true beginner, but I'm willing to learn, I haven't made a deposit yet until I have some understanding, if yous can give me some tips on how to start I am truly grateful. I think 24/7 automation with the tester is a starting point for me if that makes sense and also joining the cloud. Ty😁
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Hello dear traders.
I have seen a post on a social trading site, about what does it takes to stop job and live from trading, or if it's possible to have A MONTHLY INCOME from trading.
I just want to share this tip with you, beginners traders or just to those guys that are struggling to make profit monthly.
Please understand that the following tip is just from my experience and if is working for me, it should not necessary work for every one.
I do not rely on monthly income or profits from trading to cover my expenses....bills, shopping and the rest, but I calculate the total profit AT THE END OF THE YEAR like so:
- with profits from 2018 I will make the budget for 2019, SPENDING or REINVESTING
- with profits from 2019 I will make the budget for 2020 and so on...
IF YOU ARE A BEGINER and you are thinking to make money from trading, try to consider to keep a job for minimum 1 year parallel with trading, or if for example you have a 10.000USD account, than you should definingly have another 10.000 to x.000.000USD depending on each individual, to cover your expenses for the year on course.
Like this the pressure of trades will be insignificant, and you will not be affected by positive or negatives trades ( closing to early positive trades or to late negative trades), like those TRADES THAT WILL COVER YOUR EXPENCES for the following month....Because a Stop loss should not be like '' ops, there goes my rent money...or my fuel....or my new TV … or whatever'' and a TP should not be '' yes, now I can go out with my girlfriend....or I can pay rent...or whatever)