How to become a full-time forex trader
Forex trading is not difficult to venture into if you know the pros and cons. I have developed 3 points that you should adhere to, if you want to become a pro in forex
1) develope a trading strategy that has an edge.
If you have a trading system that tells you when to enter, exit and when not to trade, you will have an edge. Learn all the trading patterns if you want to develop a unique trading strategy. Personally, I use the candlestick patterns to study the price movement in forex market.
2) master the risk management
To master the risk management, do not risk 50% of your account on a trade. I will recommend 1%-2% of your account. This will give you rest of mind and also assure your safety. Losses will not bother you when you invest such percentage of your account.
3) Have a realistic starting capital
It is advisable to start trading with an amount that you can afford to lose. It's unrealistic when you have the notion of flipping an account from $10 to $1000.
What's your take on this?