Why Want To Be A True Forex Trader?
Being a true forex trader is an easy thing in intention but it will be a bit or more difficult in doing so. A true forex trader can be defined as someone who earns his living or his income from forex trading to meet all his needs. Or it could also be called a full-time trader or full-time trader.
However, your reasons must be clear regarding decision making to become a full-time trader. Ask yourself the following:
Do you really believe that this is you?
Or do you just want to get rich quick?
Is it because you hate your work so much that you are ready to move on to other alternatives?
It’s important to give an honest assessment of your current situation, your skills as a trader, stamina, mental, and your financial position.
If you rely on most of your paycheck to pay your child’s bills, mortgage or tuition fees, then full-time forex trading may not be for you right now. You do not want to put your family’s lifestyle or welfare on the phone and face constant pressure to make money.
Another important question is do you have enough money?
Of course, capital will always be a problem to consider when having full time in forex trading.
You have to make sure you have enough money to take risks and you will feel comfortable with some occasional fluctuations. More importantly, you should be prepared for any major losses or losses that may occur.
If you are unlucky or if you feel uncomfortable with the loss, you may have to think twice about trading in full.
There will be increasing pressure because having to retain profits can harm your health if you are not ready to deal with the consequences.
Again, forex trading means serious business. There are many risks involved and not just in the financial aspect. Take your time before deciding to become a full time trader or trader and make sure that you are financially, mentally, and emotionally ready.