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Thread: What are the necessary steps to become a full time trader in forex trading?

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    Default What are the necessary steps to become a full time trader in forex trading?

    Many people come to forex trading to find financial freedom but nobody knows exactly how to do it. Please tell in detail.

    Thank you.
    You only need to read THIS ARTICLE to make money from forex trading,


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    HOW TO BECOME A FULL TIME TRADER AND MAKE MONEY CONSISTENTLY FROM THE FOREX MARKET?


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    Making money is something that everyone must do in order to survive in this world. You can make money from any source and forex trading is one of them. Everyone is talking about how they want to trade for a living from the forex market after seeing someone they know finally achieve success in forex trading. However, before you can become a full time trader and make money consistently from the forex market you need to know what is the real reason for you to join forex trading and why forex trading is more interesting than other businesses. Well, the biggest attraction can be different depending on the person but here is the list:
    • The big money. Obviously, everyone is here for the money. Day trading is very attractive because you can make big money if you are successful doing it and where is the best place to make money? Of course, the best place to make money is where the money is gathering. Forex is a short of foreign exchange and it is the place where you literally buy and sell money itself. Forex trading is the business of buying and selling money and so you have the best chance of making big money in this business. This is a no brainer.
    • You are your own boss. In any job you will have someone who supervises you to do the things properly but in forex trading you are the boss and no one will tell you to do this or that. Many people like forex trading just because of this one reason alone.
    • Easy to scale up the business. If you have run any business you will understand the problems with scaling up your business. If your business can sell 100 items in 1 week with 2 employees it doesnt mean that you can sell 500 items in 1 week if you have 10 employees. With forex trading, if you want to increase your profit you can just increase your lot size. Most business people switch to forex trading only because of this thing.
    • Free time to do other things that you like. Forex trading is not a fixed 9 to 5 job so there is really no requirement for you to sit and trade during a fixed schedule. If you use the H4 time frame then you only need to check the chart every 4 hours and you only need between 5 to 10 minutes to check. So you have a lot of free time to do other things. This kind of freedom is unparalleled and many people choose forex because of this reason.
    • You can work virtually anywhere. With a job or a business you have to be in one place when you do your work because it requires you to be physically there. With forex trading, you can be anywhere in the world as long as you have internet connection.
    • No need to have big capital to start trading forex. If you want to do business you must have money (it doesnt matter where the money comes from but you do need money). This money can be big or not big depending on the type of business you want to do. With forex trading, you dont need a large capital to start and you can increase your capital later when you become better. This is why forex trading is great for many people.

    Those are the 6 main reasons why people love forex trading and of course there are other things like the ability to test the business with a demo account or do social trading or passive trading with signal service or robots. Whatever your reason is for choosing forex trading there is a way for you to become a full time trader and achieve your dream and through this article I will reveal them to you one by one...


    A way to successfully day trade the forex market for a new trader

    There are ways to make money every day from the forex market but before you can do this you must have the skills and unfortunately there is no shortcut to become successful at this. You really need to learn the rope and hone your trading skills over and over and over again until you can rely on it. This process will take a long time to culminate. Try to think of it as someone who wants to become a brain surgeon. You need a lot of time as a student to get an undergraduate degree and get all the necessary degrees, internships and then certifications and then continue your education. The process is grueling and only the ones with strong determination will succeed because there will be ups and downs during these times and most importantly, it will take years before you can become a brain surgeon. The money that you can get by successfully day trading will exceed any salary of a brain surgeon but the way to get there wont be easy.

    I will list all of the really important stuff that you need in order to become a great day trader later. For now though, its sufficient for you to understand that you need the skills, experience and strong determination if you want to walk this path.

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    5 steps to become a full time trader for an employee

    Be prepared to spend extra time to learn forex trading while still doing your day job. Just because you think you will be your own boss you should not lower your work attitude because the learning phase to become a full time trade will take a lot of time.

    Read a lot of books and learn from many sources. There is a lot of free stuff on the internet about forex trading and at the beginning you wont know which one will suit you. This is why you must know a lot of stuff from a lot of sources because eventually you will know which of them will be useful for you.

    If possible, find a mentor to jump start your learning curve. There is a lot of free information all over the internet and a mentor will weed out every information that is irrelevant for you and so, you will be able to cut your learning time considerably.

    Practice using a demo account. After you get the knowledge, quickly try to apply them because according to a research if you dont apply what you learn immediately you will forget 70% of them in 3 days. Yes, you will make mistakes and that is why you only use a demo account at this phase.

    See also: Get a chance to win luxury car. Join now!


    Do not quit your day job yet! Just because you are already making money in forex trading, you should not quit your job immediately. Make sure that you can surpass your monthly salary by a factor of 2 or 3 before you quit your job. There have been many examples where an employee quit their day job and then not long after that they realize that their profit in forex trading is not stable. A monthly salary is a stable income that is guaranteed for you but forex trading is not like that because there will be losing streak, losing week or losing month and what will happen if you dont have a stable income to support your life during this losing streak? You must remember that you want to do forex trading because you want to become your own boss. Becoming a boss does not mean that you can do things the way you want to but instead you should demand a lot of good quality from yourself and give the best performance in this business. If you want to become your own boss because you are lazy and dont have an aspiration to do your best then I assure you forex trading is not for you. Forex trading is a very harsh environment and it will slap you in the face with cruel reality if you do it half-heartedly.


    3 ways to make money consistently and grow your trading account fast.

    If you enter the forex trading business because you love how easy it is to scale up then you must master several things such as mastering your emotion. This is one of the hardest parts in forex trading because managing a $10,000 trading account (business) is not the same as managing a $1,000,000 trading account. But before anything else, of course you must spend time to learn about the business and practice a lot.

    You must be able to learn how to manage your risk properly. This is the cornerstone of any successful trader. Risk management is very important in forex trading simply because if you risk too little you will grow slower but if you risk too much you face the possibility of destroying your trading account too fast. That is why finding the sweet spot between the two should be your top priority.

    Money management is also important for you if you want to grow your trading account fast. What is the difference between risk management and money management? Well, risk management deals with how much you should risk, how you should spread your risk and how to avoid risky market conditions. Money management covers risk management because money management deals with how you should arrange how fast your account growth is, how to choose the suitable risk to reward ratio for certain market conditions, when to protect your profit and when to let the position run with the trend etc.

    You should decide what other business you must do that relates to forex trading. The technology makes it easy for forex traders to spread out their business to other things like social trading, trading signals, account management, becoming a mentor or selling books about forex trading. All of those things can be done while you are trading because they dont divert your attention too far from your main focus which is trading because at some point trading will become second nature to you and you will be able to do many other things with the time that you have available.


    How to make a full time income by trading forex in less than 20 minutes a day?

    The beauty of forex trading is there is always something for everyone. So, whether you are someone who wants to make money by trading all day long by getting in and out several times a day or do a longer term trading with several positions a week you are still welcomed by the forex market. And if you want to trade but still have time to do other things that you like you can do so by switching to a bigger time frame such as the H4 time frame or D1 time frame or maybe later, the W1 time frame. Who knows, right? If you are trading using H4 for example, you dont need to analyze the market and then sit your trades from start to finish. All you need is to check in every 4 hours for any potential setup or set a price alert in your trading platform whenever there is a trading opportunity according to your trading strategy.

    If you happen to understand coding then you can also design your own trading robot (in forex trading they are also called EA or Expert Advisor) according to the rules that you have in your trading strategy. If you can do this then you dont have to trade manually anymore so you have all day everyday to do the things that you are passionate about. Tutorials on how to code for Metatrader 4 or Metatrader 5 are freely available on the website of the company that made those two famous trading platforms. Or you can learn from a mentor on this topic.


    How to trade forex full time from anywhere on earth?

    Digital nomads are everywhere these days and what they do is they have online business and they live anywhere they want without any worry that their income will drop. Obviously, if you have a day job you are bound to live in a certain place and go to work at your office every day. But if your business can be done online like forex trading then you dont have to worry about staying in one place because you can go anywhere in the world as long as you have a stable internet connection in that place. So how, do you achieve this? To be able to achieve this, you must have a consistent trading performance over a certain period of time. How long? If you can show consistent performance for at least 5 years and there is no big variation in your trade results then you can say that you are consistent enough. Why 5 years? Because at this point you might already have a trading balance big enough to sustain your comfortable life and you most likely already have big confidence in your trading career. To be sure though, it is recommended to have at least 8 years of consistent result. Why 8 years? The reason is because by this time you might have already experienced at least 1 market meltdown or 1 major market crash.

    The size of the trading capital also plays an important role before you can become a digital nomad who can roam the earths paradises. Obviously, having a $10,000 trading account is not a guarantee that you will be able to live comfortably without any worry in any place you like. What if there is a crisis in your new place? What if you need more money to settle in the new place? What if there are other hidden expenses that you previously dont know about? What if there are unexpected events when you live there? There are a lot of what ifs when you live in a different place because there are a lot of unknown factors even if you already researched the place beforehand. Its better to be prepared than sorry and this is why you are expected to have a big enough trading capital before you become a digital nomad.


    How to become a full time forex day trader using small trading capital?

    Forex trading is the only business that you can start without capital and then make it big. There are places where you can even get free money that you can use for trading. You might argue that you can do a dropship business and need to money at all to start that business. However, with a dropship you are actually selling other peoples stuff and you dont have any control over the merchandise. With forex trading though, you can start a business that you own with a very small business. You can control every aspect of this forex trading business according to what you like with all the freedom in the world. There is no other business like this. But of course, you need to be patient if you plan to become someone who exclusively makes money from forex trading by starting from a small trading account. There is no shortcut when it comes to this stuff. You need to pour in all of your best effort and be prepared to endure a long journey before you can achieve your dream. Many people eventually become impatient after trying to do this because the reality is it is very hard to achieve this goal.

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    Earlier in this article I mentioned about some prerequisites that I have written for you if you are seriously considering to become a FTT in forex trading and here they are and I really hope that you read through all of them.


    The full list of standard requirements to be able to make a living from forex trading:

    Now that you are ready to take on the responsibility to turn yourself into a full time trader you must prepare yourself with by reading this article first:

    See also: Invest in the most successful traders. More details.

    https://forum.mt5.com/showthread.php...1#post15021787

    Here are some additional ways to help you become a full time forex trader:
    https://forum.mt5.com/showthread.php...1#post14975961

    Now that youre warmed up, lets go to another stage of preparation with this article below:
    https://forum.mt5.com/showthread.php...1#post14917692

    Many people find themselves bewildered by the difference in trading performance that they get in their demo account and live account so this article will be able to help you:
    https://forum.mt5.com/showthread.php...1#post14904307

    Some people are still lacking self-confidence even after successfully completing their demo account stage and heres why so you could boost yours:
    https://forum.mt5.com/showthread.php...1#post14899979

    Heres how to choose the best chart for you to use in forex trading:
    https://forum.mt5.com/showthread.php...1#post15128724

    Choosing which currency pair to trade can be a daunting process and my article below will be able to help you solve this problem:
    https://forum.mt5.com/showthread.php...1#post14899806

    This is a basic article on how to do the popular naked trading strategy:
    https://forum.mt5.com/showthread.php...1#post15128440

    This is the basic tool that you need to become a digital nomad in forex trading:
    https://forum.mt5.com/showthread.php...1#post15121883

    If you considered becoming a forex trading nomad you must know your tools and also your apps:
    https://forum.mt5.com/showthread.php...1#post14965190

    More things that you need to know so you wont get any unpleasant surprises on your way to become a forex trading nomad:
    https://forum.mt5.com/showthread.php...1#post14904535

    This article will give you tips to improve your accuracy in forex trading:
    https://forum.mt5.com/showthread.php...1#post15120698

    Learning from other peoples mistake is a very important skill because forex trading directly involves your hard-earned money so you must make sure to avoid these mistakes:
    https://forum.mt5.com/showthread.php...1#post15053767

    Here is another list of what you can avoid so you wont lose money and repeat the mistakes of other people:
    https://forum.mt5.com/showthread.php...1#post14900127

    This article shows you the mistakes that traders make when they start trading with a small account balance and you can avoid them after reading this:
    https://forum.mt5.com/showthread.php...1#post15106717

    You should read the article below if you are serious about growing a small account into a big one:
    https://forum.mt5.com/showthread.php...1#post15091444

    Below is the article that you must read to strengthen your mentality when you encounter a losing streak so you wont be depressed about it:

    See also: Invest in the most successful traders. More details.

    https://forum.mt5.com/showthread.php...1#post15102176

    What I wrote in the link below will put you on the right path when it comes to realistic profit expectations:
    https://forum.mt5.com/showthread.php...1#post15082629

    Money management is very important and you must read and choose the one that suit your need:
    https://forum.mt5.com/showthread.php...1#post15081691

    In the link below I posted a simple alternative tactic that you can use to augment your money management choice:
    https://forum.mt5.com/showthread.php...1#post14967037

    Even if you have good money management strategy you wont be able to fully escape a trading loss and that is why this article below is important for you to understand:
    https://forum.mt5.com/showthread.php...1#post14917820

    There are two sides of forex trading and the article below will show you one side of the equation:
    https://forum.mt5.com/showthread.php...1#post15029565

    Knowing and understanding the fundamental side of the business is equally important and you can also use them in your trading:
    https://forum.mt5.com/showthread.php...1#post15075412

    The tips in this article go hand in hand with the article above and so its very important to read:
    https://forum.mt5.com/showthread.php...1#post15047913

    You must know the important market structure if you want to succeed in this business because this is the building block of a successful day trading:
    https://forum.mt5.com/showthread.php...1#post15062815

    You cant succeed with market structure without knowing the things Ive written in here:
    https://forum.mt5.com/showthread.php...1#post15046796

    Alphabet is the very basic stuff of reading and candlestick holds the same importance in forex trading so you must be fluent in it:
    https://forum.mt5.com/showthread.php...1#post15049037

    What Ive written in the link below is an expansion of the article I wrote in the link above:
    https://forum.mt5.com/showthread.php...1#post15035338

    There are several trading style in the forex trading world and you need to read this to be able to make good comparison before deciding which one is the best for you:
    https://forum.mt5.com/showthread.php...1#post14904395

    There are several ways to make money consistently from day trading the forex market and this one might be the one for you. More information is never a bad thing especially when its provided to you for free, right? Or you can also use multiple trading strategies to reach your goal faster and this article below might help you to achieve that:
    https://forum.mt5.com/showthread.php...1#post14986004

    In the link below I gave another strategy that can be an alternative from the one that I put in the link above:
    https://forum.mt5.com/showthread.php...1#post15019719

    Losing money is bad. Losing a trading account is the worst. Reading my article below might save you from losing your trading account:
    https://forum.mt5.com/showthread.php...1#post15017068

    Knowing the season is very important for a farmer since millennium ago and the same applies to forex trader so you must know what Ive written in the link below:
    https://forum.mt5.com/showthread.php...1#post14993618



    Final note
    This is the most comprehensive article that I have written in this forum with more than 3,500 words (excluding links) and I also put all of the related information through the links to help you to become a real full time trader and make money consistently so Id appreciate it if you can take your time to click the Thanks button at the bottom left of this article if you feel that this article is useful for you. Thank you!
    You only need to read THIS ARTICLE to make money from forex trading,


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    Full time forex traders
    There are a lot of traders in the forex market that carries out different trading activities with the aim of making profits. One main advantage of the forex market is that the market is open to everyone and they can participate in the market from any location of their choice using a very small trading capital to do so if there is no big fund for a starter. This gives to anyone that have an interest in trading the forex market to face lesser hurdles in joining the market unless for the knowledge that is required.

    Most forex traders actually combines the forex trading alongside other businesses but there are however some traders who takes the forex trading as a full time business where they carry out other activities relating to forex other than trading the market. Some of these activities can include been an affiliate marketer for a forex brokerage platform, been a forex trading coach or selling of forex trading materials etc. Money can be made from these different activities related to forex trading and if the individual is a forex trader, he will get more funds from the profits he will make from trading the forex Market.

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    Necessary steps to become a full time forex trader
    Anyone can become a full time forex trader if he or she wishes to become. Some of the steps necessary to become a full time forex trader includes

    Get forex trading materials and learn the forex basic
    This is the first step a trader would take after he must have had an interest in trading the forex Market. The trader would need to learn how to trade the forex market by starting on a gradual process, firstly by learning the basics of the forex trading and what the forex market entails before progressing further.

    See also: Invest in the most successful traders. More details.


    Opening of a trading account
    The forex trader would then open a trading account which could be both the demo account and the live trading account. He would make practices on the demo account and after he must have been satisfied with a trading strategy that is discovered, he will then progress to trading the live forex account so as to earn real profits from the market.

    Trading Consistently and Further learning of how to make good trade

    See also: Earn with no risks involved and no deposit required right now!

    The trader needs to continuously upgrade the forex trading knowledge and do this at a Consistent basis. The forex trader would definitely become better with time and therefore gets to the stage of been a professional forex trader. At this stage anyone can become a full time forex trader and get good profits which could enable h earn a decent and affordable livelihood.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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    What are the necessary steps to become a full time trader in forex trading
    Making a choice to become a full time trader in the forex market is a bold step and also a huge sacrifice. A trader deciding to become a full time trader in the forex market by devoting all their time to become a trader and also making it their major source of income. These types of traders have no other source of income than trading in the forex market. There are several steps to follow to become a full time successful trader in the forex market. These steps are:

    See also: Get a chance to win luxury car. Join now!

    Devoting your time: Becoming a full time trader, you must be ready to devote a lot of time in the market and also focus on the market. Learning about the basics of forex market takes a lot of time and hard work.

    Getting the basic tools to trading in the market: Traders need to get the basic tools they need to trade in the forex market such as device to access the internet such as phones or laptops, calculators, finding a good forex brokers to give you access to the market.

    See also: Invest in the most successful traders. More details.


    Practicing on the demo account: You need to spend a lot of time learning about how to trade in the forex market. Some traders practice more than a year in the demo trading account before they can understand how to execute trade successfully in the market. While some spend less than 6 months, it depends on how fast every traders can understand the market. The demo trading account is used to improve trader's trading skills.

    Creating a proper trading skills: You need to create a good trading strategy since the forex market is your only source of making profit. A trader can either make use of technical analysis or fundamental analysis trading strategy.

    See also: Invest in the most successful traders. More details.


    Controlling your emotions: You need to learn how to control your emotions and fear while trading in the market. This is one of the major problem that is affecting most traders in the forex market.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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    The necessary steps to become a full time forex trader

    The necessary steps that one needs to follow in order to become a full time forex trader and prosper in it are as follows.

    See also: Wide range of InstaForex technical indicators.


    Get good forex trading education
    The knowledge of forex trading is indispensable to a trader and it is the single most important determinant of your performance in the forex market. This makes it the first step that should be taken by anyone that wish to become a full time trader. It is noteworthy that most traders that fails in this wonderful business do so due to inadequate knowledge of forex trading. So a potential full time trader needs to undergo forex trading training, to learn the tricks of the trade, prior to commencement of trading. It is relatively easy to find quality forex trading learning resources both online and offline, and both paid and free ones.

    Try Forex indicators in MT4 with $1000 No Deposit Bonus now!


    Obtain good forex trading expereince
    The next in importance to a trader that wish to trade on full time basis is good forex trading experience. Experience is always the best teacher, and many traders learn more from experience than they do from other learning sources. Practicing with demo forex trading account will speed up your acquisition of forex trading experience while saving you from possible losses that may occur if you were to use live account.

    Proper equipments and tools
    The trader must obtain certain equpments that are essential for forex trading suchg as good computers and reliable internet access. There are also tools that facilitate trading that must be acquired such as charting and trading software, which some brokers provides without additional cost. Many full time traders also employ specialized custom indicators which they either developed by themselves or obtained from third party sources. Some also subscribe to fast news feeds that provides them with news that may affect the market, before it becomes available to the general public.

    Well capitalized trading account
    A well capitalized trading account contributes to the success of a trader in forex trading, because it enables the trader to resist the temptation to take unnecessary risk in order to make the trading a worthwhile venture. Those that start off with meagre trading account are already operating from a disadvantaged position, though they can possibly rise above their obvious disavantage through skillfull trading.


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    What are the necessary steps to become a full-time trader in forex trading?
    In the forex market, many traders come into this business with pure excitement and great expectation mainly because they want to be financially free, but the truth is that only a few traders are ready to take the necessary step to achieve these goals, and many eventually end up losing their entire capital because they lack the understanding of basic forex trading concepts.

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    to become a fully erm trader in the forex trading market is not an issue, but becoming a profitable full-term trader is what most traders have a challenge with, and am about to mention those things that prevent many traders from being profitable as a full-term trader

    • Consistently Educate your self
    I know you are not a newbie, but you still need to continue learning how to trade, try and understand the forex terminology, learn about other ways the market can be traded aside from the one you already know.

    See also: Invest in the most successful traders. More details.


    • Develop A trading strategy
    No traders can be successful in the forex trading market without having an effective trading strategy, you need this to make a consistent profit from the market, a trading strategy is developed through practice and mastering of a setup, and this usually requires a lot of screen time

    • Develop A trading plan
    Having a trading plan is very crucial in the market, most especially if you want to become a full-term trader, it serves as a guideline you follow every day on how to trade based on your strategy, so this means a trading plans together with a trading strategy, t makes to be disciplined at all times in the market, most especially on things like, over trading, risk management, and emotions

    See also: Invest in the most successful traders. More details.


    • developing a good Risk management

    The lack of good risk management is one of the reasons why many lose in the market consistently, and the best way to develop one is understanding the importance of a risk-reward ratio because risk management is mostly centered on this

    these are some of the factors that are constant with every good trader from all levels.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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  13. #7 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Forex trading
    Trading is basically like a business that has to buy and selling activities there. As people buy and sell in traditional markets or supermarkets. If in a traditional market that is traded in the form of vegetables or fruits, then in trading that is traded are stocks, foreign currency, commodities, and so on. The purpose of trading is to accumulate profits from the difference between the selling price and the buying price. Traders generally take advantage of trends and changes in momentum in a financial instrument whose price fluctuates greatly to generate profits.

    Buying and selling transactions in trading are carried out through intermediaries such as brokers. The broker functions as a liaison between traders and the market. Apart from that, another job of the broker is also to provide advice on the current state of the market to assist traders in making decisions. Trading activities can be carried out at any time depending on the market chosen by the trader. For example, in the stock market, it can only be done from morning to evening, but in the forex, market traders can trade for 24 hours.

    How do we succeed in the trading business?

    With advances in technology that are increasingly sophisticated today, traders can carry out trading activities anytime and anywhere as long as the market is open and has an adequate internet network. With a computer or laptop and the internet, everyone can carry out trading activities. One of the advantages of trading is that everyone in this world can start even with relatively small capital. Even at certain brokers with a capital of $ 5 or the equivalent of IDR 70,000 (USD exchange rate of IDR 14,000), traders can transact on the forex market.

    Name: success in trading.jpg Views: 128 Size: 38.3 KB


    TRADING IS A Math

    At first, I thought like that. Trading cannot be equated with investing. Although both do have the same goal, namely to make a profit. However, trading and investing have differences.

    See also: Invest in the most successful traders. More details.


    In terms of principle, what is done in trading is buy and sell. Meanwhile, investment tends to buy and hold.
    Trading characteristics are usually more active than investments that tend to be passive.
    A trader is called a trader while an investor is called an investor.
    Time frame trading is usually short term under 1 week while investing is more to long term to yearly.

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    The focus of analysis carried out by traders usually uses technical analysis such as price action, while an investor is more focused on using fundamental analysis.
    The risk of trading is higher than investing


    An example of an investment, for example, is that an investor buys a stock because its fundamentals are considered good, then he commits to hold it for as long as possible up to more than 3 years in the hope that he can get a multi-bagger profit.

    An example of trading, for example, is if a trader only buys shares that are then sold in one day, whether it is in a profit or loss condition.


    TRADING IS NOT A SPECULATION

    If a trader enters a buy/sell position with a 60% - 80% probability of making a profit, it is called trading. Meanwhile, if a trader enters a buy/sell position with probability profit that is not clear or not calculated, it is called speculation.

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    TRADING IS A PROCESS There are still many traders who don't realize that trading is not a quick way to get rich. Trading is a process ( be process-oriented ). Trading cannot be equated with Loro Jongrang who can finish building a temple overnight. As a trader, you should avoid shortcuts/shortcuts. According to Elder, a newbie might enter the market, win a few times, and start feeling smart and invincible. It was at this time that he started taking bigger risks and ended up losing. However, to acquire skills



    that is ripe it takes time and a process that is not short.

    Don't let trading be like doing social charity work which always donates money to the market or a broker. Always try to put risk before profit. In trading what is certain is a loss. Therefore, the most important thing in trading is controlling the risk.


    CLOSING
    If we work hard and show complete devotion then success is inevitable, so never lose hope and keep working hard and always try to learn new things to combat the hard situations in the Forex market like a skilled trader.


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    What are the necessary step to become full time trader.

    Forex trading business is a unique and promising business with different opportunities open to trader in making the business easy for trader in making fortune from the market . In forex trading business ,trader may either be part time or full time trader . Part time traders are the trader who engage forex trading business alongside with other pay job and make an extra income from it. Full time trader on the other hand are the trader who don't combine forex trading business with any other job but make it as the only source of income.

    Majority of the people practicing forex trading business are full time trader who see forex as a job with promising of good future , who also able to solve their financial difficulties and even as a business that needs lot of time , dedication and persistence before trader can be successful . Becoming a full time trader is a bold step by the trader because there is complexity , uncertainty and risk surrounding the business in the ladder of success. In respect to this , there are some necessary step that trader need to take before he can be properly launch into the business as a full time trader. Below are the comprehensive step trader needs to take in becoming a full time trader..

    What are the necessary step to become full time trade.?

    Developing interest in the business .

    Interest is one of the best ingredient to the success of the trader in the business because trader with good interest in the business will engage the business with joy, good state of mind ,confidence and the assurance of success come what may in the business . This will inspire him and make him successful trader.

    See also: Invest in the most successful traders. More details.


    Understanding the fact that forex trading business is complex and risk business .

    Trader must understand the fact that forex trading business is risk and complex . This equip trader psychologically in preparing him for the challenge a head in the business.

    Give good time to the business.

    Forex trading trading needs a considerable period of time in learning as well as the execution of trade and that is why the trader needs to devote much of his time to the business in acquiring the needful that will help him becoming successful full time forex trader.

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    Put every trading gadget in place .

    This include computer system , power ,the internet facility , conducive atmosphere for trading ,source for good broker join their platform and download the trading platform. All these are the gadget trader needs to put in place the trader before he can be a full time trader in the business.

    Learning .

    This is the best factor without alternative in becoming full time trader .Trader needs to learn the act of trading holistically because this will enable him to develop good trading skill ,knowledge and the experience needed to make the journey easy and comfortable. Trader cam achieve this through various ways and more importantly through demo account where practical aspect is learn and develop as well as good trading attitude .

    Constant update of the skill and experience .

    Forex trading business is a business that is very dynamic in nature and for the trader to become full time trader and be successful ,he must keep on updating his skill and experience in the market regularly.

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    Developing good strategy and plan .

    These are the special criteria in becoming a full time trader . Strategy and plan are the standard set by the trader in making fortune and as well as maintain discipline in the market . Trader use these as the platform to follow in executing trade .

    Develop good trading habit .

    A full time trader must also have good trading habit of not overtrading , set appropriate stop loss and take profit to all trade , maintain good risk and money management ,controlling of emotion and be discipline .

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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    One of the questions that many Forex traders who are just entering in the market ask is what are the necessary steps to become a full-time forex trader? If you have just started trading, I'm sure you've heard a lot of people telling you that this is the most lucrative market to make money in and with the amount of beginner tutorials and courses being sold out there you can also understand why. The problem is that if you're a beginner you don't want to waste your time and effort on learning everything that doesn't really work. So in this article I'll show you some features to look for to help you get started with Forex trading.

    When it comes to learning the necessary steps to become a full time Forex trader, you really need to start off with a trading system that focuses on one simple concept. This concept should be a very easy one that makes sense. In addition, this trading system should allow you to set and forget and to have a trading schedule that allows you to make a profit based on how well your trading plan does.

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    When you are looking for a good trading system, it's a good idea to keep in mind that all trading systems are not created equal. Some are going to be easier to trade than others, while some are going to require a lot more analysis and research before you can even begin to think about making a trade. As such, when looking for a trading system you need to keep these things in mind.

    A good rule of thumb when it comes to choosing a trading system is this: Don't judge the system by its advertisement.

    See also: Invest in the most successful traders. More details.

    While some of them may look and sound very simple and easy, the truth is that only a few of them will actually work. What you want to look for are systems that actually have back tested results, that have been traded with real accounts and that focus on a particular market sector. Ideally, a trading system that focuses on one singular market will have the greatest statistical likelihood of succeeding in the market that it focuses on, as well as in the market sector that it focuses on.

    In addition, make sure that you are trading with a system that has been tested over time. What I mean by this is that the system was tested with real money. If the trading platform was used was not a live account or real trading platform, then the testing was not truly rigorous. This essentially means that no matter how impressive a system is, it cannot be guaranteed to consistently make a consistent profit.

    See also: Explore the infinite possibilities of online trading with a reliable broker. Join now!


    Lastly, when learning what are the necessary steps to become a full time trader you need to be aware of risk management. In order for any system to work effectively, it needs to be well diversified. This means that it must contain a variety of longs and shorts within it. Diversification will lessen the overall volatility of the market and allow the trader to maximize their profits, while minimizing the possibility of a large drawdown.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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    As much as forex trading can be considered as a job or a career, it is the same way it can be taken as an investment or a business. Whatever the case may for anyone, we have full-time traders and part-time traders as well.

    A part-time trader is the one who has another means of livelihood or means of generating income apart from forex trading while the full-time trader is the one who's the sole income or means of livelihood is from forex trading.

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    Name: full-time.PNG Views: 137 Size: 531.2 KB


    With due consideration for all it requires for anyone to become successful in forex trading which are as follows;

    -Learning the nitty-gritty of the business in terms of the principles of technical analysis, fundamental analysis, and market psychology. This requires that one should be able to develop a personal strategy with the acquired knowledge. The personal strategy should be practiced for a reasonable period until one gains mastery over it

    See also: Invest in the most successful traders. More details.

    -One is expected to be psychologically stable always, disciplined, and determined against all odds to succeed. In all these, one should develop the habit of having a trading plan sticking to it, and making effective use of the trading journal. It would help in thorough evaluation of trading activities objectively and have a way forward channeled for a more profits oriented future.

    In the real sense of it, all these take time for one to eventually get to the point of making consistent profits but if the steps are strictly observed, one should be able to handle becoming a full-time trader. The emphasis here is that one should have succeeded with demo accounts in making consistent profits (at least 7 winning trade positions out of every ten)

    See also: Earn with no risks involved and no deposit required right now!

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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