Treating Forex Trading as a Business 6


2 “Forex trading involves high-risk and you have the potential to lose more than your invested capital“. I am sure you have encountered this text if you are at least a little bit interested in financial markets. This general warning is often looked over by prospective traders with the belief that they are smarter than that, and that they won’t make the mistakes that lead to losses in trading.

Do you want to know how to really avoid those? It is not about the smarts; rather it’s about the mindset of the trader that defines the outcome. How? Well, for starters you should treat forex trading as any other business—you invest capital and you get returns.

And by investing capital, I don’t just mean the money you fund your account with; I also mean the time you put into evolving as a trader and gaining the experience that you will need to be successful in forex.

And to talk about the returns you get—believe us, it’s worth your investments. You can make a living, and a very good one for that matter, from trading, and you can do so in a manner that you get to be your own boss and reach your financial goals while effectively managing your time.

All the little things

If you have realized that you have to invest to get returns your natural first question will “OK, but invest in what exactly?”

To answer that let’s talk a bit about what you’ll need for trading. At first it looks like a very simple task; you look at the chart, draw some lines (or not), decide where the market will go, and you cash in as the pair you trade reaches the target price. Although the process is something like that but if you think about it, the devil is in the details, as they say.

What chart to look at? What indicators to use and what part of technical analysis does really work? On what kind of device and platform should you trade? Which broker should you choose? What lines to draw exactly? Or even where to transfer the profit?

These are questions that you should know the answer to, optimally before you start trading seriously. Being prepared increases your chances immensely.

The good news is that you have come to the right place if you need advice on any of those questions. We at FXUniversal have the experience and the knowledge to help you get started and be profitable from the beginning. Also, if you have already started trading but you have burnt yourself, at first, you can find the weaknesses in your approach or strategies and achieve better results consistently!

What everyone wants to know

3One of the first things that everyone asks about forex, of course, is “How much money can I make with it?” The answer is that there is no practical limit to the amount that a trader can earn with trading! How is that possible? The market is HUGE, and by that, I mean hundreds of billions of Dollars every day. So if you are profitable this is the ultimate business to scale. Actually, you need almost the same equipment, strategies, and knowledge to make $100 or $100,000 a month. You just need to be profitable and have the psychological strength to deal with the growing size of your trades—not an easy feat!

The income you will initially earn depends on the capital you first start trading with but don’t worry you don’t have to commit a lot of funds for this. In fact, it’s better to start small until you get to know the market inside out and you will be able to trade without concentrating too much on the technical stuff.

But the time and the effort you put into trading have an amazing payout, the freedom to choose where you work from when you work, and how much you work!

How to start and how to plan your progress?

Trading is about constant evolution; you shouldn’t plan to start it full-time from the beginning. Trading on a demo account before risking your capital is a great start; this way you are able to choose an approach that suits you with the opportunity to get over the inevitable “rookie” mistakes that everyone commits.

And before that, you will need to find a broker to trade with. But, don’t forget that you don’t have to stick with a broker if you don’t like something. A demo account is great to familiarize with the broker too, to get to know the platform, the customer service, and the other small details that make a difference.

Here is a review of the steps you should take to start your forex business:

Get informed to stay ahead of the crowds

As you can already sense information is the key in this business. If you know what you are doing and where to turn to up-to-date guidance you will be set for success. We at FXUniversal are here to help all the way and provide you with the help you need to make a living with forex in 2016 and reach your financial goals!

Stay tuned for more and let us know what you think in the comment section!

 


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6 thoughts on “Treating Forex Trading as a Business

  • Ambrose Paul

    Forex trading for most people is hobby or way to become rich overnight but in reality trading forex market is full-time profession. You can become rich at forex trading quickly but not in one night. You need to lower your expectation in start and treat forex trading as a full-time business.

  • Pip Pirate

    I am a full-time trader and I am in forex and binary trading from almost 13 years now. No one can learn or understand forex trading overnight and it takes some time before you learn how to make regular profits in forex trading. Although I have another business too, which I am also doing from so many years but now, for me, forex trading is also a full-time business which generates regular profits for me. Forex trading is very fast changing business and one who updates himself with the changes in this industry always perform better and also FX trading is never ending learning process.

  • Millionaire Kid

    Forex trading is world’s biggest business and also your door to become rich quickly. It’s not part time business dear it’s full time business. The more time you spend in this business and the more hard work you do in this business, the more opportunities you will get to make some very good money. I started forex trading as a part time business but after seeing the potential in this business now I am doing this as full time business and believe me I feel very happy that I took this decision.

  • Jordan Parker

    In the last 2 decades world has truly become global village and all this has been possible because of the advancements in communication and internet technology. Now the whole world’s interlinked. 20 years ago no one could have dreamt that someone living in India can easily invest in USA stocks so easily or someone in south America can invest in Japanese or Chinese stocks because of all these advancements has also brought financial markets close together. Forex trading has also become full time business and if someone has proper knowledge and infrastructure, they easily make forex trading as full time business. Forex trading is a business which has endless opportunities and you can earn so much money in this business if you do everything seriously and in disciplined manner. Nowadays a lot of young men are entering in this business as full time traders and now you can see a lot of young men who earn millions of dollars in this forex trading in young age. The point is that adopting forex trading as a full time job is very lucrative at the moment.

  • Jeremey

    Biggest tip for me, if you want to be successful in forex trading never do this as full time business. All the successful traders I have met in my life have had more than one business and not always rely on forex earning. If you just rely on forex earning then you will do mistakes just to make money fast. For that reason I never suggest forex trading as full time business.

    • Tj

      I partially agree and partially disagree to the statement. Yes you should have more than 1 business and shouldn’t rely on forex as sole business but in my opinion when you start forex trading then for some time you need to focus on trading only. For the time being trading should be your main focus on business and then when you learn trading and can easily control your risk then you are free to do anything because once your trading strategy develops and matures then you can do multiple businesses or jobs. Then you do not have to spend your whole day in front of computer because once your trading strategy develops, it require lesser time for trading.