How to become a professional Forex trader: laying the Foundation

How to become a professional Forex trader: laying the Foundation

Lay the Foundation for your career in Forex trading I will start this week in a series of four articles in a blog entitled “how to become a professional Forex trader. Will be raised gradually, step­ by ­step manner so as to facilitate their understanding, however, before I begin I must point out that simply reading these four articles series alone won’t make you a professional trader.

 Should use information available in this series are already aware that there are no magic solutions to the question of providing steady income from trading in the Forex market. 

It will take you some time and effort to become a professional trader, and will likely pass some useful experience from gains and losses during that period, however, should not be discouraged and despair of the more accepted this fact back to walk the right path towards professional currency trading, now let’s get permission ,

 Step 1: be honest with yourself At the outset, I would like to point out is that the professional trading is due to continue trading successfully, first configure your trading account and gain skill in circulation over time.

 This should be your goal at the beginning when you start trading in the Forex market’s journey to become a successful trader constantly in this market, but this does not necessarily mean that you will become a professional or full­time trader overnight, as stated in the article, the issue could become a professional trader would probably take as much time if you start with small trading account, but that doesn’t mean he won’t be able to achieve stable income money each month during that period. 

It may seem successful trading and professional trading is one thing, but not so. It should focus on the first goal to achieve stable income money each month is proportional to the size of your trading account, not to become a professional trader once you cross the starting line. 

You see if your trading account balance in the amount of $ 1,000 for example, you will not be able to meet all your household income you bring you this account every month, and if you try this trading account as if it were a trading account, then you end up having do you balance.

 So if you want to eventually become full­time professional trader in the Forex market, it should be your goal at first somewhat simple, so it must be your goal is to achieve a steady income of money each month and at the same time implement effective management of funds in the Forex market. 

This is called honesty with oneself in terms of what is possible to do in fact given the current fiscal situation, there are many traders don’t do so simply. Should you consider your trading performance in terms of the amount of dollars risks to the potential amount is earned, not one hand how money he sought to resign from your job and buy a Ferrari sports car, and this unfortunately most novice thinking. Pretending that you have in your trading account balance of $ 1 million, even if its only a thousand dollars only. 

If you can yield three times the risk of always on average at the end of every month (meaning a return equal to three times the amount that risk fully) then this means you win 3 x 12 = 36 like in General, if an amount predetermined risk for serious trading account $ 1,000 is $ 25 USD will become the size of total annual revenue is $ 25 x 36 = $ 900, or return 90% of the annual account, which is an excellent performance for professional standards, Now imagine you are trading with a balance of 100.$ 10,000 dollars if calculated 36 like it will equal the $ 900,000 the year if the amount of risk the $ 2,500 per transaction. Return $ 900,000 will become $ 1 million account if the amount $ 25,000 risk per deal. 

You proved you idea here? Certainly the $ 900 monthly return is not a huge amount, but what you should understand is that if you can achieve 36 like in general account reaches $ 1,000, for example, the same exact way of thinking which resulted in the amount of $ 900, and the return of 90% will result in a huge amount of $ 100,000 is located in the old account. 

So the idea here is to focus on the actual procedure and the trading mechanism is crucial for trying to bring a lot of money in a small trading account. If you are a like a 36 like or even 15 to 20 such as a year, you won’t have a problem finding the necessary funding or obtain employment with one of the companies handling of funds. Before you start learning about trading or before you open a demo trading account, you should sit with yourself and come with paper and pencil and a monthly budget, you must put all the expenses and monthly expenses and the amount of their monthly income after deducting the tax amount, if the rest of your income amount you dispensed perfectly then it’s OK to use it in trading, did not find enough money it is best that you avoid and save yourself the hassle or looking for a job Until you have themoney you can trade.

 The reason this is news to you is that most traders are not doing so, but they end up trading funds should they use, as well as for you if you are already trading part you replaced your income 100% will reduce the likelihood of becoming emotional when doing any bargain deals. So if you really think that you have everything needed to become a Forex trader, you will be honest and truthful with yourself about what can be accomplished given the small magnitude of deductible from income in the beginning, then it’s time for you to move to the next stage of learning the basics of trading in the Forex market

the end

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How to become a professional Forex trader: laying the Foundation