Can Forex Day Trading Be Your Full Time Career
April 23, 2009 by Kelvin
Filed under Forex Advice
I often have friends asking me whether forex day trading can be a full time career. Most of them asking this question are those who are tired of their job and are looking for a way to help them get out of the rat race.
Personally, I used to be an engineer working in a multi-national company with good pay and prospect. But I realized that my life should not be revolving around waking up at 6am, travel to work, nag by boss, having to please my boss and many more. Therefore I decided to take up forex day trading as a way to replace my day job.
Initially, I thought that forex day trading is an easy task because there is only two possibilities to it. Either it rise or it fall and there is a 50% probability that I will win. Therefore I decided to trade without spending some time to learn currency trading from anyone.
I ended up blowing my account within a few weeks and it nearly made me give up forex day trading as a long term career. At this point of time, I get to know a full time trader at a business seminar and he shared his story with me and encourages me to get on to learn currency trading from a course that he had learned when he first started trading.
The thing that really inspires me is that he is a full time trader who makes around 6 to 8K a month and managed to quit his work. Therefore I spend 2 months to learn currency trading from some of the forex trading course and then spend another six months trading the demo account to practice the forex strategies that I have learned. My person advice to all of you who wants to make a living with forex day trading: Never think that forex day trading is a get rich quick scheme. It is a legitimate business that needs time and effort to learn and practice.
Today, I am doing forex day trading full time at home for three to four hours a day and spend the rest of the time doing what I love. Therefore if you ask me whether you can take forex day trading as your full time career, I will say YES if you are serious and willing to put your time to learn currency trading.
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