Now let us address what makes a professional trader from this angle. What makes a professional doctor, is it just the love of saving lives? Of course no, upon that you need professional training to understand the rudiments of the medical practition: how it works. This is the same for the forex trader, becoming a professional forex trader requires training. Both in technical trading; forming a good strategy and trading with the expert advisor, forex signal or indicator. Or the emotional maturity of handling well the emotional burden of an open position.
Craden20 posted: .... forming a good strategy and trading with the expert advisor, forex signal or indicator. Or the emotional maturity of handling well the emotional burden of an open position.
Not 'OR'... BOTH! And the latter - i.e. handling emotional burden - weighs in by 80%...
So once a trader is groomed in the technical part of trading, THEN comes the REAL challenge, the 80%... The Psychology of Trading... Just check on Amazon how many books have been written about this topic...
And unlike the technical aspect of trading, it is much more difficult to learn handling emotions of large open positions. If possible at all... In my opinion it is not possible... Either one has the right mindset, or has not. And a trader can know if 'for sure' only when trading with large real LIVE lot sizes...
It is totally impossible to decipher a trading system SEEING A TRACK RECORD, if someone is going to manage your money, not only must show their track must send you the 'pass investor', so you can check yourself. There is only one way to manage accounts seriously, with poa, the rest is just business, but is not trading.
To be a professional trader, you need to live on trading. Assuming someone a good trader, you must have sufficient amount of capital, personal money, or money from investors. I see many people here, which are intended to call 'investment', a 'bet' with 1000 dollars or even less than that. It is impossible, for an investment of this capital, a profit that justifies the long hours of dedication, that trading needs. For this reason, they invented the business followed and followers. so that someone with very little capital can have significant gains. That would be fine if the trader was really good, and the follower has more or less the same capital, but unfortunately, anyone can invest $ 1000 in 10 different accounts with $ 100 each, and sell that is winning and attractive. Trading is not so simple, takes risks, the investor wants to win, the trader wants to win, and you have to carefully balance the interests of all participants. In this forum, I do not think you have investors here, here only have dreamers who want, feel that they are traders. They are the same kind of people who will see Formula 1, just to see who destroys the car, not to see who wins the race ... And a serious investor, he just wants the best driver. I repeat, if you have 5k, buy a TV, do not try to invest.
fxinvesta posted: To be a professional trader, you need to live on trading. if you have 5k, buy a TV, do not try to invest.
fxinvesta, you are absolutely right on that one.
during the last two years I have lost about -130k on forex, chasing the dream of making money with just 10k accounts. meanwhile I have built a very profitable, sort of stop strategy, which works one and only with accounts larger than 300k. I would even recommend a min of 1 mil. Then, I realized I do not have that kind of money, to trade it. I was very very disappointed and still is, a little. That is how forex works. One needs a shitload of money to trade with little to no anxiety.
Then, few weeks before, I figured out that the DD that was causing my losses (due to margin calls mostly), can be used in my benefit, instead. To make the story short, I am now building a guardian strategy, that guards the major trend strategy, by reducing the DD of the major strategy with over 80% sometimes. And not only that. It gives me the opportunity to cash in the saved 80% DD as an unexpected profit, on the top of the profit of the major strategy.
ПРЕДУПРЕЖДЕНИЕ О ВЫСОКОМ УРОВНЕ РИСКА: торговля иностранной валютой связана с высоким уровнем риска, который может подходить не для всех инвесторов.
Кредитное плечо создает дополнительный риск и вероятность убытков. Прежде чем принять решение о торговле иностранной валютой, тщательно проанализируйте свои инвестиционные цели, уровень опыта и толерантность к риску.
Вы можете потерять часть или все свои первоначальные инвестиции. Не вкладывайте деньги, которые вы не можете позволить себе потерять. Ознакомьтесь с рисками, связанными с торговлей иностранной валютой, и обратитесь за советом к независимому финансовому или налоговому консультанту, если у вас возникнут вопросы.
Любые данные и информация предоставляются 'как есть' исключительно в информационных целях и не предназначены для торговых целей или консультаций.
Прошлые показатели не являются признаком будущих результатов.