I’ve been trading relatively casually for some time, learning gradually and following the markets. Any advice on picking things up a notch to become more serious and maybe make a decent income from trading ?
In foreign exchange transactions, the concept is equivalent to doing business. You need to study the market, market demand and market changes. In my current gold trading, my income can be guaranteed at 10-20%, because this is related to professional analysis.
Practice, practice and once again practice. There are no better ways to improve your trading skills than practicing it every day. You always ought to find different ways to upgrade your skills, so you can look for various learning content, buy books in trading, listen to various trading speakers (there are lots of them actually and the biggest part of them provide their services free of charge). Every mistake you have to turn into a benefit, I guess it's the main thing you should understand on your way to success. If you're bored of working with certain assets, then you should master other assets and they perhaps can be more pofitable in case you will learn them properly.
Do you really think that it is necessary to you?
I mean that in most of the cases the desire to devote more time to trading comes naturally witthout even thinking that you become more and more serious about that. I do feel that perhaps, you don't need to dwell into trading. If you still want to take trading seriously, then you should start with learning. If you are a newbie, I would recommend you to study several major pairs and start trading real money but small lots. This will at least give you the feeling of what trading is all about and it will make you understand whether you need to do full-time trading or not.
Well, of course, it;s okay for a trader to strive to get out much more from trading than he/she has now, however you shouldn't hurry up in this case. Everything goes quite fast and if you're really passionate about trading activity and you understand that it's your activity and business which you should run, then everything will come to you by itself. There is no need to rush, because rushing might possibly make businesses much worse. Thus, if you want to get more out of trading, then try new instruments, try trading with leverages if you're eager to take risks or something like that. Nevertheless, I got used to think that everything will come by irself and we shouldn't rush it.
If you have a good strategy, keep trading with it. Gradually increase your trading lot and it would increase your income as well. Here is a thing, you must find out whether your strategy is consistent or not. If it is not consistent, you may have to work and learn more to find one to be able to increase your income.