Forex as the main vehicle for making money?

[Aaron Dias]

If a person wants to make forex trading his main source of income then he needs to practice a lot, make himself a good trader. Also he should have enough capital by trading on which he can generate a 2-3% profit monthly which in dollar amount should be enough for him to easily cover his monthly expenses.

Yes the main fact that we never should forget is that in all our trades we stand to loose funds if we are not careful about them. And this also means that when we are trading we must keep some funds for the backup also.

 

[EURUSD]

Yes the main fact that we never should forget is that in all our trades we stand to loose funds if we are not careful about them. And this also means that when we are trading we must keep some funds for the backup also.

It is right that we could lose all of our fund in here when there is no good money management and risk management to prevent big loss or Margin Call. It's important for all traders to know the risk of forex first before investing money in here. So, it doesn't mean that you need to keep some fund for backup but you must invest money which is not used for your daily needs because forex is investment business. It means that if your investment is not working well then it is possible that your money is gone.

 

[EuroTrader]

Yes the main fact that we never should forget is that in all our trades we stand to loose funds if we are not careful about them. And this also means that when we are trading we must keep some funds for the backup also.

Yes as a trader we have to make sure that our losses are always under control. When we will make sure that our losses are less then we will also get an opportunity to earn a good income in our trading

 

[qitiandasheng]

Forex trading is a good way to make profit, but I still confused to use it as only way to make money, after all it's high risky business.

 

[ForexVerified]

Forex trading is a good way to make profit, but I still confused to use it as only way to make money, after all it's high risky business.

You need bigger account to make Forex your only income source.

 

[EuroTrader]

You need bigger account to make Forex your only income source.

Yes the main thing that we have to understand as a Forex traders is that if we will have more trading funds with us then it will become a lot more easier for us to do our trades and also earn a good income from them

 

[iMusingKiMi]

Forex trading is a good way to make profit, but I still confused to use it as only way to make money, after all it's high risky business.

Build it small, slow and steady. I always believe if you have a profitable strategy, you can either profit in small account or big account. It is just like you study when you are young. There are no such thing of shortcut especially you want to treat it as professional to make a living.

 

[JenalAripin]

Build it small, slow and steady. I always believe if you have a profitable strategy, you can either profit in small account or big account. It is just like you study when you are young. There are no such thing of shortcut especially you want to treat it as professional to make a living.

But being steady on your trading profits is difficult. You really need to focus yourself on forex trading if you're willing to make it for a living.

 

[hitfx]

But being steady on your trading profits is difficult. You really need to focus yourself on forex trading if you're willing to make it for a living.

Steady in profit is almost impossible for traders who are just in forex for 2 to 3 years. I am trying so hard to make consistent profit but I think I cannot make it on my own and has to get some assistance.

 

[mlawson71]

I agree, you need to be an experienced trader to make a consistent profit regularly. Forex trading takes time and effort to learn, but once you do learn it can be a source of quite a bit of income.