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    Thread: How to make Forex the primary source of revenue?

    1. #21
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      Default Re: How to make Forex the primary source of revenue?

      Forex trading is a very large business and it has a lot of diversification inside in which a trader can benefit from. For a trader to make forex trading his primary source of income then he must be ready to not just trade only in forex rather he will also engage in other aspects of forex trading that can enable him earn extra income outside trading.

      Truth been told, if a trader focused only on his trading and wants to make forex trading his primary source of revenue, things might be a little hard for him because there would always be hard times in the business in which he would record losses, so to cover for these bad times when forex trading is his primary source of income then he can use the income earned from other aspects of forex such as other affiliate programs in forex which he should engage in, like been an introducing broker, been a fund manager to manage clients accounts, he can use commissions gotten from these affiliate programs to cover up for the bad times in his personal trading activities.

      This is the way in which a trader can make forex trading his primary source of revenue and he would be able to live up to standard in his country.


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    4. #22
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      Default Re: How to make Forex the primary source of revenue?

      We have to first acknowledge the fact that the forex market is a risky market, it is as a matter of fact the most dangerous business we can venture into. After this acknowledgement, the trader should then go for a suitability test, if the market trading itself is suitable for them and their kind of person. If the answer is yes, then the trader can proceed to learning and training concerning the forex market.

      However, during the training times, the trader should train on a good strategy to use, the management to work upon that strategy. The trader should also train on their psychology and the viable trading plans that will always keep them in the safe trading all the time.

      If traders could do all these above steps under strict discipline, then i am sure that success is possible for the trader, they will now be trading based on what they know for a long period of time before they will stabilize things effectively. And through that they can make the forex market their primary source of revenue when they successfully passed those aforementioned stages, they would have developed a certain earning means through that.


    5. #23
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      Default Re: How to make Forex the primary source of revenue?

      Making Forex your primary source of revenue means many things, you will need to quit your day job and become a full time Forex trader and trust me, there are many challenges you will face as soon as you have decided to drop your job and face Forex trading, there are some instances where you will begin to trade out of impulsive action and fear because you have seen a loss that is just too high for you to handle.

      Making Forex trading your primary income source is pretty difficult, you need lots of capital and discipline if not you will lose everything and regret the reason you became a Forex trader the first place. Full time trading is not a bed of roses.
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    7. #24
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      Default Re: How to make Forex the primary source of revenue?

      Forex trading is highly risky but also highly dangerous, in order to make the forex market as your primary source of revenue, practice with the demo account until you have understood the trading strategies that you are using, only then can you understand what it would take you to depend on forex as the primary source of your income generation activities. Some risk that we often take are not worthy it, why should someone go into trading without counting the cost, forex as a main source for taking care of our family has to be thought out well before we venture into what would cause us to be apprehensive. First, try trading with a small amount and grow your account with time.


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    9. #25
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      Default Re: How to make Forex the primary source of revenue?

      These points of yours are quite frank and truthful. Becoming a forex trader involves some basic steps that must be taken serially in order to become profitable. You don't just jump into forex trading simply because you want to trade. You don't jump into it because of the money involved in it. You don't jump into it because others are doing it or because of someone's trading results you See. It needs sheer preparedness just like any other online or offline businesses. In fact it requires more adequate preparedness than other ventures. This is because of the high risk involved in forex trading. You need to be prepared in capital. You need to be prepared psychologically, you need to be prepared mentally and all other preparedness that are required for a successful forex trading career. Without these someone will be easily lost as well as easily give up when the turbulent wind of forex trading blows.


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