5 Things You Need To Understand Before Going More Professional In Forex Trading

Instead of my observations throughout the forex industry, I have noticed that most traders trade during working hours, there are also trades when there is an opportunity and there are those who trade when the boss is not in the office. And there are also those who think and dream of quitting their jobs because they want to pursue their work as professional traders by making forex trading their main source of income.

But are you really able to do it? So when to make your dream come true?

Here I share between 5 important things that you need to understand first before you go to a more professional direction, namely Full-Time Trader:

1. One year minimum

In an effort to assess whether you have solid knowledge in trading to become a professional trader, you need at least a year to make an 'internship' or practice like 6 months internship when studying at IPT first. Throughout the 12 months of training, you will definitely see a variety of different phenomena on the market. Maintain profits of at least 10 to 15% a month for a year.

2. The First Three Months

Have you made a profit from trading more than your previous income? If your answer is "Yes", you need to use the profit money to pay off your debt, rent, and other expenses. Try not to rely on income from previous work. Try to save the first 3 months of this trading to pay for any purchases. If you can maintain how long, then you can try to adjust later.

3. About Time

Getting big profits from trading results is bad but how to manage those profits with the right time to continue life from time to time? So you need to design your time, organize your daily routine. Make a schedule so that the spare time is used with benefit. Remember, a lot of time by tapping the chart doesn't guarantee you will get a lot of profit. Carefully design how forex income needs to be managed for your life.

 4. Money and Patience

Crowded dreaming of getting rich from the results of forex trading. So if you are rich, don't you need to trade anymore? I mean, you can go on with life as usual for some time with that income. And he also means that you do not continue to think that forex profits are part of the income that you will get permanently. Because in forex trading, anything can happen. You need to be patient with designing and adjusting. Guard your patience, behavior, and emotions. Don't be too chasing to get rich quick in this trade. More chances to succeed if you are patient.

5. What does Plan B look like?

You need to devise a strategy or plan B if it doesn't work out. Maybe go back to my former job? Looking for another job? Doing another business? Or continue to be eternal in this forex trade without giving up. So my advice, multiple sources of income as your back-up plan and I am sure you will have a better chance of succeeding in this forex industry. You can only succeed if you know what the “worst-case scenario” you will face if you are in this field. So with that knowledge, you know if you deserve to be "out" and "in" in this work at any time. Happy trading!