How to make live Forex trading
Creating Live Forex Trading
It is common for traders to dream of getting financial and entrepreneurial freedom through profitable online forex trading. There will be no more boring work, no more wasting time with administration, useless emails or endless meetings. Is this ambition realistic? If so, how can it be done?
How much money is generated from forex trading
This is the first question of people who always ask questions, even if they only ask themselves. There is a simple answer to this question that no one knows! No matter how skilled you are, you cannot control the market. You might be so lucky when you usually have one month of victory and every year is a year of victory. On the other hand, the exact amount you make depends on what happens in the market, and the market cannot be predicted with certainty. For example to see the main forex pair for the first 10 months or more from 2012. This market is very flat. Even if you don’t see the trading trend, it will be difficult to make a profit by using forex strategies or approaches. At the end of the year, there was a big Japanese Yen movement that gave forex traders the opportunity to get a lot of money easily. The point is that this market is unpredictable, there can be several months without profit followed by heavy rain of opportunities for profit.
Trading errors that must be avoided
A reasonable approach before starting to determine the strategy used in achieving the goal is to calculate the probability. For example, 20% of the month you expect to make a profit of around 5%, and 10% of the profit of 7%, and others.In calculating this probability, you have to work by going backwards and seeing the average trading performance, attractive, initial capital, and calculating the expectations of trading averages. Only then can you see how much profit or loss you can make in trading. Unlike trading for gambling because you can make it live forex trading.
Calculate trading performance
The first point to start is to see how much initial capital you have for trading. It is very important to understand that the more money you bet, the less money you have. You also need more money to pay bills so that these things will become difficult. Even if it’s all the same on paper, the daily experience of online trading to live psychologically will be very difficult even almost everyone experiences it especially at the beginning. There is a big difference between trading with money spent to pay for luxury items and risking your life savings to try to make income.
You must have a good idea for trading performance over the full range based on market conditions. Such as if you are going to trade continuously for years. One of the best methods to do this is to use a trading simulator or forex strategy testing software to simulate forex trading for years and ideally include thousands of trades. You can then get a statistically good idea about the various possibilities that you can achieve in any month. Of course, long-term testing from live trading is a far superior method for determining your trading expectations. By all means, you need to see forex signals to get trading ideas, but don’t rely blindly on them. That’s how to make live forex trading more organized in your daily life.