Can You Make Enough Just Forex Trading?

Can You Make Enough Just Forex Trading?

by Danielle Franklin

I have been into forex trading for several years now and I have to admit that it took me some time to actually start earning enough trading online. It isn't as simple as it sounds, so there is a big if when it comes to whether you can earn enough just forex trading.

First of all, you have to be patient and know how to manage your money. Any irrational action from your part can lead to great risks. You have to be in control and not let others control you with either promotions or advices.

I personally still spend lot of time determining my targets, stop losses, entries and exists and I make these decisions based on the scientific basis of trading system or a trading technical analysis provided by the forex broker platform (taken to the account that it is a reliable forex broker!).

Most importantly, once you start trading don't quit your full time job yet. I mean, you have to make sure that forex trading is working for you. How long would it take for you to find another full time job? 3 months? 6 months? So I would suggest not quitting until your forex trading profits can cover the search-for-new-job period!

So, yes. Once again, it can be done. Serious money comes with the serious risk management practices! I never trade more then 10% from the available account but, hey, that's just me.

Once forex trading becomes your full time job you have to treat it as such. There is a schedule and rules and make sure you follow them and adjust yourself and your family live style accordingly. So if your girlfriend is begging for a month-trip to France, you have 3 options - let her go alone (bad idea!), take your laptop with you and trade during the vacation (not such a bad idea, but the girlfriend will HATE it, unless of course you can send her shopping with the newly earned cash! LOL!) or cut down the vacation days to... lets say... a week?!

And most of all don't be greedy. You cannot earn all the money in the world, even Bill Gates can't! So take the little you can and trade your way up!

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