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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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    3. #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.


    4. #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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    6. #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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    8. #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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    10. #26
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      We Can make the forex trading market our main source of income, it's very possible, so the question is how?
      To do this in the beginning it ain't going to be easy first thing we have to assuming we are Already equipped with a very Good Trading knowledge..

      Have a good trading strategy : it will be very difficult to trade full time without a good and tested strategy in place, because this will be the major factors for us being able to make consistent profit.

      A good trading capital : trading part time is a different thing compared to trading full time, because with full time we have nothing else to fall back to when things doesn't goes our way in the forex trading market. So this is why we need to prepare well before making forex as our primary source of income.


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    12. #27
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      I don't advice forex traders to make the forex trading their primary source of revenue, but traders that are determined to make the forex trading their primary source of revenue can go head, they might not regret it when they do trading well and have good plans with it. The trader that wants to make the forex trading their primary source of revenue must first acknowledge the danger in what he wants to do, the forex market is a risky place, traders can lose everything. If the trader has accepted that, the trader should now start a good training, they must be training tirelessly for nothing lesser than one year. The demo account will be useful here, it will make traders to be training without using their real money, traders can blow as many as possible demo accounts, but the trader will not lose their real money.

      If the trader has being working on the demo account for a long duration of time, good methods to trade the market will be known, that is what the trader will be working up. Four most important things that the traders that wants to use the forex trading as their primary source of income should make sure are in place are:

      1- The trader should have a very strong trading strategies, when the trader has the strategy that is working with 75% winning, it is better, the future of the trader is secure.

      2- The trader should have a good calculation on the money and risk management, the money management of 3% is good, and the risk management of 1:4 is likewise good

      3- The trader should have good plans, they have to find the means to use what they know rightly in the correct way so that it will cause success for them at last.

      4- The trader must be psychologically and emotionally balanced, they must use the working force of discipline and patience in all what they do in the market.


    13. #28
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      Ther have no primary source in forex market to earn money. If yoy want to earn money form forex than you must need hard work to success. Forex trading is not easy but if you can get it with much experience than you must success and can gain profite. Easily. So at first we must need much study about forex trading than practice demo. After gain experience than try to live account care fly.


    14. #29
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      Forex trading is a very risky business and that is why it is not advisable for traders to make forex as their primary source of income. So if you are trading forex, you must have another source of income that is stable and able to pay your bills without stress especially if you are inexperienced and also if you are trading with an account that is less than $50,000. When you trading forex without any other source of income, it pushes into greed which will definitely make you lose money.
      On the other hand, if you are trading with at least $50,000 and you are a highly experienced trader, then you can make forex your primary source of income because the money you will be making will be substantial enough to pay your bills.


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      To make forex the primary source of revenue determined from the fact that it is not requiring little skill or little effort and in any case one possibly loss most thing irrespective of thought to have undue influence of an activity one has performed and in the direction of not different duration of time that position not any possibility to give an assurance that something will be done right in the forex exchange for sake of continue to cover profits and on condition that we can assign some quality to forex as our subordinate source of revenue not our fundamental business and to have the potential to trust on it to become larger our money so that to have confidence involved it although in an uncertainty you do not engage in additional investment and we participate in rely on it to keep away from losing so much money at a time a difficulty that has to be resolved or dealt with befall our business and have to get rid of greediness desire and emotions which possibly direct to great loss.


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