There is no doubt that that forex trading is one of the lucrative profession in the internet. Many people made a fortune and proved that dreams are not far from us if we adopt forex trading as a living or as a profession. Success won’t comes overnight or in a couple of days. It needs a lot of hard work and limitless good effort. Only then a trader could able to make a good living out of forex trading. There are many misconceptions about forex trading. Many people think that forex trading can’t replace with any ordinary job or business. They also think that it is not possible for everybody to adopt forex trading for living. But they are wrong. We can adopt forex trading for living, only we need to be more dedicated and hard working.
There are two groups of people who are very different than each other. First group believe that forex is easy and it could be easily adopted as a good profession. Second group think that forex couldn’t be a guaranteed source of income. Luck factor is also important for a trader to gain profit from forex trading. They don’t believe in learning and only they rely on their luck. So here we can say 1st type of person is adopted forex for living. And second type of person is living for forex.
It is obvious that forex trading involves high risks and most of the brokerage site warns people beforehand. They also notify to their client that invest only that amount which is affordable for you to lose. Then why people tend to adopt forex trading as a main profession?
Well, there are many things a person should try to understand before adopting forex for living. Without proper knowledge and understanding a person couldn’t able to do well in forex trading. Also a person need to practice well in demo account to get perfection in trading. So here a trader must learn and practice before going for real trading. Practice is must to ensure that he’ll able to handle real tradings as well. There is no limit of learning or any limit of perfection. More a person practice and learn more he’ll be able to do well in his tradings.
How much time it’ll take to become a professional trader?
This question is easy but answer is not. A person may take many years to become a good trader. Also there are lots of chances for a person to become perfected in this profession. So there is no fixed limit for a trader to become perfect. The only thing a person must do is to learn regularly and practice all the time.
Sometimes due to lack of proper goal and interest a person easily give up learning process. He or she jumps in real trading just after spending few days of demo practice. The motive of demo practice is not just to earn profit, the main motive is to learn how to make profitable trades. To understand how to make profit. If a trader failed to understand how things work in forex trading then it is not a good way to start real trading just after making profit in demo account. Success won’t defined by profit, it’ll be defined by the core understanding about how to make profit in forex trading.
After lots of learning and practice why traders often failed in real trading?
The answer is not that simple because we can’t read a people’s mind without interacting with him or her. We know that time is very valuable for us. If a person spends 1 year, 2 years or even 5 years in learning and practice, we can’t say that he had learned everything. Spending time is not considered as important, the important thing is how he utilized the time for his/her learning. A trader can learn everything in a short span of time if he/she spends quality time for his learning and practice. For example, in a school everybody get 1 year time for study for a particular class. But in exam only those perform well who spend quality time.