How do I trade forex full time?

[dehnavi]

First thing first, focusing on becoming a Forex trader that is successful based on SKILL is the difficult path. Instead of focusing on developing superior trading skills… you should focus on strategically designing the way you trade Forex to put the odds in your favor.

A strategically designed Forex trading approach practically guarantees you will be successful over the long term. All you need to do is to keep trading by the rules.

If you want to trade Forex with the best possibility of success, focus on these things:

1. Keep it simple
2. Trade off the daily charts
3. Limit your trading to 1 minute a day
4. Focus on risk to reward more than win rate
5. Trade a 100% rules based strategy
6. Take a long term mindset
7. Look at Forex trading as wealth building and not “making money”
8. Learn to be a good loser to be a long term winner
9. Take your ego out of trading

Too many people think the path to trading Forex is learning everything you can about trading and spending hours “practicing” so you develop skills.

The thought is, at some point, you will be so knowledgeable and skilled that you will be able to look at a currency chart and instinctually know what to do. You will embody what it is to be a “Forex trader” and know what to do to profit in the market.

Some people might get to the end of this process and be a profitable Forex trader… but not many.

Compare this to how I trade Forex:

• I trade once a day
• I use a rules based strategy so there is no guesswork
• I follow the rules
• I spend about 1 minute 5 days a week trading

That’s it. No long learning curve. No decades studying. No endless hours practicing on a demo account.

Simple is best.

 

[operlay]

Good day. what is your strategy? Do you trade indicators? Are you using smaller time frames for better market entry?

 

[devqq]

The best strategy is just to follow a trend and exit as soon as you got your daily pips for the day, being greedy is not advised, just get your pips and log off for the day.

 

[YESDARIGA]

Thanks for sharing. I will try to be full time forex trader. Thanks for your tips

 

[manish88]

Hi

Hello friends,I am a new member of the forum.I am interested in making money full time with forex.