Abhinav posted: Trading for living! I feel too risky. Possible if anyone is experienced and confident trader.
What greater risk then to look your position into a swing trade? Most swingers have tp and sl more then 8x the currency which they plays daily range! Your merely banking on the fact of luck, instead of EARNING your points by identifying formations which the market always trades. Every form of trading should have a check and balance, yet swing trading for me by far is the most reckless form of trading.
If you want to end up with a nonaverage net worth, a “learn from someone else” attitude is paramount. Putting your ego aside and admitting that you don’t know it all isn’t easy, but it is the mindset of true winner ----Paul Tudor Jones.
A strategy that delivers 50% plus accuracy. A minimum 1:3 risk/reward. Set a 2% risk factor. Withdraw 1/3 of your account each time you double your funds. When annual withdrawals equal or exceed your current annual income you are effectively trading for a living.
i think this is possible,trading for living if you can like me no job just enjoy, but you must learn very hard about forex for example you have to know about votality curencies pair your trade a month, what %.... so you can relax not in front of the PC all day..good luck
It is very possible but you have to remember you do not have to quit your daily job to trade Forex. I my case, it helps my trades to have other source of income, and I am not a CEO. It is a psychology site of trading. If you have a right strategy with good risk/reward ratio, you do not have to have 50% of positive trades to have positive balance. If you believe you are a good trader you can always try 'trade our account' programs and try to build the equity there. If you reach standard lot size you can make a living making 20 pips every day.
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I trade for a living, but my style of trading lets me get away from the house and I just manage it by phone. I find I have better results when I am busy doing other things and let my trades finish what I research them to do! I started making a living at trading in 2008, and how I live life is much different than an 8-5 job!!!
I don't know, I wouldn't be able to quit working for trading, especially since i trade at H1 time-frame..I prefer thinking of forex as my back-up or a possibility to make a couple of extra euros. That what let me keep being risky.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
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Past performance is not indicative of future results.