Speaking of professional Forex traders, you may have a strong image of living an elegant life and living a very luxurious life every day. However, the reality is quite difficult, not everyone can easily do it, and the reality is that it is quite difficult to sustain.
What is a Forex Professional Trader?
A full-time FX trader is a trader whose main source of income is FX. Since they have plenty of free time, they can spend all their time on FX. Because of this, many traders lose their rhythm in life, and many of them become unhealthy. However, most traders trade between European time and the New York market, and since this is the time when prices fluctuate the most, most traders concentrate on this time period. Most people basically act with the idea of an ideal, prosperous life in mind. However, when thinking about it, it is important to consider that the time they wake up and the time they spend planning are irregular. If you are interested, take a look at their lifestyle in videos, etc.
What is an FX part-time trader?
A part-time FX trader is someone who is aiming to become a full-time FX trader, starting with beginners. In most cases, they are company employees or people who trade while working other jobs, so the problem is that they don’t have much time. Therefore, these traders don’t have much time to look at charts, so they often trade by placing advance orders. Depending on your job, you may not have time to look at charts, so you have to be creative with how you do it. Increase the frequency of buying and selling as much as possible and make the most of it, and you will have the most stable double income along with your salary. Some people choose to become a full-time FX trader if they can earn a certain amount of money every day in the industry and reach their target profits. If you don’t want to deal with human relationships, there is the advantage that you don’t have to deal with them at all.
Professional traders are tough
There are only a handful of professional traders. Some people may be able to make a living from trading temporarily, but there are very few who can continue to make money from trading for decades. Therefore, the reality is that it is very tough. Since the profit and risk are even, if you don’t study, you will be in an environment where you will make a big mistake while trading in the market. There are countless people who have lost their assets, struggled to make ends meet, and quit because they have lost their mental health. However, you can still work hard at home all day, looking at a screen. Some people even broadcast on their personal blogs or YouTube.
Only a handful of people can keep winning in trades
There are only a handful of people who can keep winning in trading. Some people can keep winning for a year, but those who can keep winning for 10 years are quite limited. Charts are an untouchable name, so it’s not easy for traders to do well. Even experienced traders find it very difficult to keep winning for more than 10 years.
The rhythm of life is broken
When you become a professional trader, your life rhythm collapses. You will be looking at the chart from morning to night, and your eating habits and sleeping hours will be disturbed. But because you have to keep looking at the charts, you become like a slave to the charts. When I have free time, I will spend it watching anime and movies, but I will be almost like a cripple.
unstable income
When you become a full-time trader, your main income will be from trading in your preferred style. However, income is not stable. It is not guaranteed like a company employee’s monthly salary. Therefore, even if you are a professional, if you lose a lot and lose money, you will end up with a pile of losses, the amount will decrease, your precious income will become negative, and of course your life will become difficult. The disadvantage is that the income is likely to be unstable because there is no sufficient guarantee. There are also people who try their hand at automated trading and other scams and lose big at first.
get bored
Many office workers have very busy lives and are envious of the freedom of full-time traders. However, when you become a full-time trader, you have less things to do and more free time. This is especially a dangerous sign for people who don’t have any hobbies, and many people end up being lethargic because they don’t have any hobbies. Furthermore, it is essential to gather information thoroughly by watching market news every month. In order to succeed at the billion level, preparation is also necessary. Furthermore, investors must be calm and mentally stable in order to avoid exit.
a lot of pressure
Professional traders are blocked in a way. Professional traders lose money if they do not earn income from trading. And if you become a full-time trader, it will be quite difficult to find a new job. There will be a blank period in your work history, so companies will not deal with you. A professional trader’s income is also quite volatile, so they are under pressure to win.
Adjust your investment to the market price
In investing, the currency market does not move when it is convenient for traders or when it is convenient for management. Big movements come unexpectedly. In order to judge the possibility, you must always connect to the market prices on the internet and analyze them using tools. You need to see the situation with your own eyes and bet the amount when you win to avoid losing money. These days, some people really stick to the market 24 hours a day.
Technical analysis does not guarantee victory.
It is important to perform technical analysis and verify, but it cannot be said that you will always win. Even confident people cannot always win in real time. Even if you check the situation and invest, there is always a possibility that you will lose completely. Even those who have an overwhelming track record and can win sometimes lose, so it is dangerous to think that you can make a profit, and sometimes it is important to cut your losses. It’s very dirty work.
Forex Professional Trader Population
The population of dedicated FX traders is said to be around 10,000. The majority of other traders are part-time traders, especially office workers. There are also many cases where freelancers do FX as a side job. Even if they are successful in FX, there are many people who choose to have a side job. As explained above, the reason is that income is unstable. Normally, it is difficult and no one can make 10 times the profit in just a few times, but it is possible for full-time traders. You have to make safe trades in a position that is always advantageous.
Estimated funds required for Forex traders
The minimum is to be able to earn enough money to live by trading. There is no fixed income for professional traders, everything is determined by the results of their trades. You will be responsible for everything, so you cannot become a full-time trader unless you can make at least a yearly total positive. It is difficult to do this unless you have the experience and knowledge to consistently make profits on your own. The skill standards are real and very high, so some people may become unemployed in the future in order to achieve their goals.
Exness is for scalping
Exness is for scalping. This is because the spread is extremely narrow. Therefore, if you like scalping, please register with Exness and start trading. Since opening an account is free, please refer to the following article to open an account.
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