Community Forex Questions
Can you make a living by trading?
A sufficient capital for living off trading:
Investing capital is undoubtedly the most important factor that determines whether or not you can live off trading. In fact, if you only have a few hundred Euros in savings, you should forget about making a living from trading full-time. People who truly live off their trading operations on financial markets have substantial initial investment capital of at least several thousand Euros.
The truth is that trading does not come without risk, and you should protect yourself against mistakes in the beginning by keeping a portion of your capital aside to meet your daily needs, at least until your trading activity becomes profitable overall.
Your trading capital should also be fairly large, since the only way to make substantial profits is to invest fairly large amounts.
Good training and advanced knowledge of the markets:
Despite the fact that today's online trading tools make trading accessible to traders of all levels, it is clear that a beginner will not be able to look forward to a long career on the market. It is therefore essential to begin by learning about trading, either on the stock market or with CFDs.
Learn how to complete advanced fundamental and technical analyses yourself so you do not solely rely on free signals, and take the time to understand the vagaries of price movements and the different trends.
Finally, you should also learn how to manage your capital well. This is called money management. In order to trade over the long term and implement effective strategies, it is necessary to have a balanced approach to trading and investing.
Investing capital is undoubtedly the most important factor that determines whether or not you can live off trading. In fact, if you only have a few hundred Euros in savings, you should forget about making a living from trading full-time. People who truly live off their trading operations on financial markets have substantial initial investment capital of at least several thousand Euros.
The truth is that trading does not come without risk, and you should protect yourself against mistakes in the beginning by keeping a portion of your capital aside to meet your daily needs, at least until your trading activity becomes profitable overall.
Your trading capital should also be fairly large, since the only way to make substantial profits is to invest fairly large amounts.
Good training and advanced knowledge of the markets:
Despite the fact that today's online trading tools make trading accessible to traders of all levels, it is clear that a beginner will not be able to look forward to a long career on the market. It is therefore essential to begin by learning about trading, either on the stock market or with CFDs.
Learn how to complete advanced fundamental and technical analyses yourself so you do not solely rely on free signals, and take the time to understand the vagaries of price movements and the different trends.
Finally, you should also learn how to manage your capital well. This is called money management. In order to trade over the long term and implement effective strategies, it is necessary to have a balanced approach to trading and investing.
Dec 30, 2021 02:09