Forex as a job

[goldsniper]

1. Anyone who wants to do forex a s a full job need to have a good strategy to trade efficiently.

2. Secondly is discipline, not to fear and no greed.

3. Third is knowledge about forex itself.

If you combine those,you can do it.

Anyone here is a full time trader ? Please advise

[orcein]

I think some people do forex trading as their freelance jobs, but may others do it for as their primary job. Forex tradins is your primary job goldsniper??

[Invest_Master]

I have set fixed target for everyday.
I trade till i reach them and then stop to trade for that day.
Have to wait and watch till i think market is good for me. As i just aim to make 10-15 pips per day.
So i don't have to sit for along time mostly but yes sometimes i have to.

[goldsniper]

I think some people do forex trading as their freelance jobs, but may others do it for as their primary job. Forex tradins is your primary job goldsniper??

No orcein, i just do it as a part time work... i already got an offline full time job... it seem that is is not in any near future to change my full job into forex trader.

I'm still learning, you can say i still a newbie in this forex world.

[goldsniper]

I have set fixed target for everyday.
I trade till i reach them and then stop to trade for that day.
Have to wait and watch till i think market is good for me. As i just aim to make 10-15 pips per day.
So i don't have to sit for along time mostly but yes sometimes i have to.

Yes, i think your strategy is very good Invest_master, discipline in trading is all, but its hard to do.. it need more strength to do it.. When you got 15 pips for the day and to walk away while the chart is telling you 110% you'll make profit is hard.

But by discipline, it can be done.. taking 1 dollar a day for 100 day.. then we'll make 100 dollar right. There is no such thing as get-rich-quick. All is work.

[Invest_Master]

Yes, i think your strategy is very good Invest_master, discipline in trading is all, but its hard to do.. it need more strength to do it.. When you got 15 pips for the day and to walk away while the chart is telling you 110% you'll make profit is hard.

But by discipline, it can be done.. taking 1 dollar a day for 100 day.. then we'll make 100 dollar right. There is no such thing as get-rich-quick. All is work.

All the money i have lost recently i think it is because of the above mention fact. So i would like to improve my self as to become a better trader. As as a fact we need to live in reality and rectify our ddrop backs rather then ignoring them.

[goldsniper]

as we know, trading forex is 10 % skills and 90 % psychology.

I know its hard to walk away because i always find myself greedy on small points.. now i just going to do money management.

[skyhit]

yes i agree if want to good trade, have to make strategy ,mental,and is knowledge about forex .

[FXOjafar]

I have set fixed target for everyday.
I trade till i reach them and then stop to trade for that day.
Have to wait and watch till i think market is good for me. As i just aim to make 10-15 pips per day.
So i don't have to sit for along time mostly but yes sometimes i have to.

You sir have completely the right attitude. resisting the urge to take that last trade when you have hit a daily target is the most difficult thing to do.
Another way to look at it is capital preservation. If I take 100 pips from gbp/jpy in the morning I take the rest of the day off since when I wake up the next day, I still have the knowledge that yesterday I made 100 pips and that I still have the money from it since I didn't make any foolish mistakes afterwards.

Over-trading is one of the primary reasons people fail.

[goldsniper]

you say it right. Over trading is one of the primary reasons people fail.

[orcein]

Every open a trade you must have target, like min. 5% everi trade you start/day. With this way you can make a calculation for your monthly profits, and make a planing for monthly withdrawals. It will be like the salary!!

[mfazy121]

i trade daily to the max i can get, no dalily target.....reason very simple.....with the right attitude and good discipline plus balanced MM.......no boundaries gaining what forex has to offer!

[goldsniper]

mfazy121... that is okay if you could accept the risk.

Any strategies and management is okay if it helps you make profit.. but if it doesn't... don't use it.. build another / or find one that can make you profitable.

[Invest_Master]

i trade daily to the max i can get, no dalily target.....reason very simple.....with the right attitude and good discipline plus balanced MM.......no boundaries gaining what forex has to offer!

Nice. BUT this is the rule i used to go with. you are right that a forex trader can earn unlimited in a day if he trades good but I have learnt that every tiume is not a good time to trade. So now i have a fixed % which i try my best to achieve.

[rodman21]

i am planning to establish a forex-based business very soon, my idea is to invest a 50k USD amount as a start and create 5-10 seperate accounts that will be managed by traders i hire.. i will soon create a thread to accept traders from here, the only condition will be a proven track record of stable and consistant profits monthly, no matter how much percentage as long as they make profits in the end...

any ideas ?