How many times have you thought to yourself, “One day, I’ll quit my job and become a full-time forex trader”? For many, becoming a full-time forex trader is a dream, however very few actually realize this dream into reality.
If you come to a stage, whether you can be a full-time trader, then definitely you already have some trading experience. How do you make sure if that’s enough?
Go through the 3 questions below that can help you decide if you’re ready yet or if you need to learn more, or rather just stick to your part-time trading.
Q1. Do I have enough trading experience?
As we all know that Forex trading is a highly risky business. Hence to transform yourself from a part-time trader to a full-time trader you need to make sure that you have enough live trading experience. As a suggestion, we would advice you to have atleast 2 years experience of trading on a live account on a part time basis before you can take it up full time.
If you take up full-time trading, you will need to treat it as you treat any other business or a full time job. It becomes your main source of income. If you’re making big greens on your part-time trading account, then only consider it full-time.
One of the biggest issues when it comes to full time trading is Money. You cannot trade with a $500 account wishing to gain $1500 per month. It’s never going to happen. Be practical.
Leverage will help for sure, but you must be careful with it. Plus, it is key to understand trading capital must be completely separated from your everyday cash.
Your bills depend on your ability to cope up with the market. You need to have enough mental strength to deal with the pressure of losses and non profitability.
Do you wish to be a full-time trader? We have training programs designed right from the beginner to advanced level. We also facilitate traders who would like to trade from our trading floor.
To view our training programs, CLICK HERE