Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

Seeker

The Aim of Trading for a Living

Recommended Posts

i guess the best way to achieve that is by setting a goal mainly, generate a good number of profit with in a span or a limit of 1 year, lest say the earning are fixed at a certain number and constant monthly or with in an acceptable range then its good to go. im trading forex, making a decent buck with hotforex but still keep a day job, i still lack a lot of things but i do aim to make forex a way of living

Share this post


Link to post
Share on other sites

You can actually trade forex for a living but there are factors you have to put in place to start; 1. Take out time to have ALL the knowledge about forex trading that will help you in your trading; including how to make technical and fundamental analysis. 2. Find a good broker with a good trading platform, good leverage, at least 24/5 customer support, instant trade execution and fast payment of withdrawals like what Oanda, Profiforex or FXCM has

3. Start with a sizeable capital,, but it should be an amount you can afford to loose. 4. What out a trading plan and stick to it and avoid greed at all cost.

Share this post


Link to post
Share on other sites

Yes I do trading for a living. I am not retired and I am not in full or part time employment. I do not depend upon the trading income for my day-to-day expenses. First of all I want to keep myself physically and mentally busy. I do not like to gossip. I want to earn at least before tax return of 20-25% on my investment. I do both short-term, intraday and long term trading. Suppose I invest Rs50 lacs, my aim is earn Rs1 Lac a month excluding long term term capital gains. I hope to achieive the samt from Fiscal 2015-16. I started on a small way in Sep 13. This will be my full year.

Share this post


Link to post
Share on other sites
2 hours ago, divyanshisharma said:

Trading is often viewed as a high barrier-to-entry field, but this is simply not the case in today's market. Now, anyone with ambition and patience can trade, and do it for a living, even with little to no money.

goddess div, 

“in today's market” ???   Actually, trading has NEVER had a high barrier to entry.  Financially, any moron always could raise some bucks and ‘manage money’  ... no school needed, no license, no nothin’ but a posimistic 'script' .  All significant / "high" barriers are discovered to be found  within ... bound flow, identity, state patterns, reactivity, etc...  Most realize these inner barriers  beforehand and don’t ever even ‘start’ trading.  Some realize it shortly after starting and either do any inner work needed or get out the game.  Some never grasp it and continue searching for objective edges ... never acknowledging that they couldn’t successfully implement an edge even if they had one. 

So re “Now, anyone with ambition and patience can trade, and do it for a living, even with little to no money.” -  I call bullshit.  That sentence should simply read “Anyone can try to trade.”  Successfully trading “for a living... with [the] little to no money [condition]”  is the equivalent of hitting all six numbers of a PowerBall.  Possible  - yes.  Probable - NOT.  Seems to me you’re blowing smoke up our asses in hopes some of it will go up your own ass... 
 

Share this post


Link to post
Share on other sites

In forex trading we are already risking our hard earned money to make more money and that's why we also have to make strict money management rules and then stick to them.

Share this post


Link to post
Share on other sites
On 4/28/2022 at 12:23 AM, aimhi said:

In forex trading we are already risking our hard earned money to make more money and that's why we also have to make strict money management rules and then stick to them.

Can you please suggest any safe broker to start with?

Share this post


Link to post
Share on other sites
On 5/16/2014 at 1:45 PM, fxeconomist said:

You can make off living trading forex meeting 3 conditions:

1. Decent capital

2. Moderate Skill

3. Fair broker (Hotforex for example, which I trade with)

That's it.

Skills take time to develop and we need to trade on a demo account in order to remove financial loses because demo can be traded without investing any money with the broker.

Share this post


Link to post
Share on other sites
On 7/4/2022 at 11:57 AM, fxeconomist said:

Can you please suggest any safe broker to start with?

There are many brokers in the market to give a try i guess its really becoming hard recommending any broker so a simple thorough research at one's own can be helpful in my opinion. So far i think we should only shortlist reputed brokers like hotforex, octa, xm, fxcm, exness, lmfx etc to finalize the right broker suitable to our needs.

Share this post


Link to post
Share on other sites
On 4/6/2023 at 4:34 AM, aimhi said:

There are many brokers in the market to give a try i guess its really becoming hard recommending any broker so a simple thorough research at one's own can be helpful in my opinion. So far i think we should only shortlist reputed brokers like hotforex, octa, xm, fxcm, exness, lmfx etc to finalize the right broker suitable to our needs.

And what is your favorite place to trade? I mean any broker that distinguishes from others?

Share this post


Link to post
Share on other sites

I try trading with more than one broker for diversification purposes however i also interested in looking for some crypto trading opportunities since it is looking more profitable at the moment.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.