Professional Forex Trader – 3 must haves before you begin

professional forex trader
I started as a professional forex trader to make money, and I didn’t have a plan. Can you guess what happened? Yes that’s right I blew my account rather fast, it is a good thing it was a micro account with only $100.00,  but it would have been better if it were a demo trading account. The way that I started to trade forex is the way that many of us start our trading careers. By acting on impulse and without a plan on how we are going to achieve success. Unfortunately, that is not how it should be done. There is a right way to begin your trading career that maybe just maybe you can avoid two or 3 margin calls before you get warmed up.

Before I talk about the right steps to take I want to ask all of you out there a question. Do you Love what you do? I remember working at my job and while I was on the job I was miserable all day long and I hated my work. I finally found something that I don’t just like I love. Did you ever have dreams when you were young about that special career that just never seemed to happen? I think to be truly fulfilled in life you should attempt to find something that you love to do. In my case, it was trading forex and running this site. I hope that you are able to find something that is truly what you have been dreaming of doing. So now for the sake of this site which is all about Forex Trading, that you have decided that you want to trade forex as your new career.

 

So you want to Trade Forex???

That is a great goal and I admire anyone that attempts to make that happen but please don’t jump in without taking the necessary steps to ensure success and learning how to become a professional forex trader. Here are 3 steps that you must take in order to trade forex for a living-  I am listing these in order of importance.

1. Have your financial house in order – If you are trying to start to trade forex to get yourself out of a financial jam or to make money quick because you need cash. Then stop right now and don’t do that because that is a recipe for disaster. If you don’t have the money to trade then don’t trade plain and simple. I am not trying to dash your dreams but if you begin trading with money that you can’t afford to lose then the psychological pressure will be too high and you will lose everything.

2. Find the Forex Right System – Having a system and a strategy that works is crucial to trading success. This must be figured out before going on to trade forex for a living. Take the time to find the best forex platform.

3. Turn a profit! — I know people that have quit their jobs to trade and they were still losing money. Please provide for yourself a winning track record that has proven profitable over a period of time.

I hope that you have benefited from the tips on how to trade Forex for a living. I am always referring to Winners Edge Trading as a Forex Company that truly cares and desires to help. So I have decided to add financial and career coaching as a service available to Forex Traders. The truth is you don’t have your financial life in order you will struggle and I want for each of you to be able to focus 100% on trading and not have money matters on the back of your mind.

 

The following two tabs change content below.
Casey Stubbs is the founder of Winners Edge Trading, which is one of the most widely read forex sites on the web. Winners Edge Trading has trained thousands of people to trade the Forex markets.

Winner’s Edge Trading, as seen on:

Winner's Edge Trading in the news

  • Luke jones

    Hi casey great article could you please send me the price action strategy [email protected]

  • George Mensah

    hi Cassey, can you please send me the price action [email protected]

  • captainc

    do you have PAMM or myfxbook that I can look closely on?

  • Abie Mokobane

    Thanks for the article Casey. Could you please send me the price action startegy as well to: [email protected]. I rely on indicators and they are doing good in several market setup.

  • Fxyardtrader

    Great article, great site. Thanks for everything. One thing is, which should see day light too –> how you trade forex, if you work 8hours a day and miss all big actions in the market? When I come home at 4pm-5pm, there’s not much to gain, most of the big movements occure at 12-3pm my time (GMT +2).

  • Why does it Suck? Trading is not easy but it can be done.

  • Itsforex

    it really sucks lot of discouragement for new comers

  • You are welcome and I am glad that we have helped you. IF you ever have any questions do not hesitate to come by.

  • Roycewarren

    Thank you for bringing me back to realization. I’m a rookie forex trader that has made $704.23 I guess by sheer luck. I started trading because of the stock market. Yes. You can guess it, I have stocks also. Nevertheless, would you please send me your trading strategies along with some trading tips that I might benefit from? Oh, and thanks for starting this site.

  • Nelson

    Great article, thanks

  • J Schmidt

    I for one would like .to know what system you feel would help a person be sides your training.John [email protected]

  • That is a big reason why you must have your finances in order , for peace of mind. If you don't have peace of mind you might as well forget about it.

    Thanks for the comment come back again.

  • send me an email and I will send it to you.

    Thanks

    Casey

  • Remi Ladipo

    Thanks forv your regular insiteful articles. Kindly send me your Price action strategy trading support.
    Regards
    Remi Ladipo

  • Mukund

    Nice article. I would add that Trading is a mind game and can not be played with the money you afraid to loose.

  • Ed will have his article posted here on Saturday.

  • BILL

    I'm interested in reading Ed Burns, where can I find info?

  • Alvin, great point and thanks for adding that Trading is a day in day out grind, just like a real job. I will check out your site when I have time.

    thanks for the comment and please come back anytime.

  • Alvin Lee

    Something to add …Not to have high ROI as what advertisement written. Forex trading is long term and compounding effect will make you financial freedom in next 3-5 years. Lots of new traders expected to be rich overnight by trading forex and these are the failure for most of the traders.

  • Thanks for the comment ray if you need any help just let me know and please come visit again.

  • Barbara,

    thanks for commenting if you need any help figuring out how to get started do not hesitate to contact me. Forex trading can be a great freedom tool if you do it the right way. Money makes a great tool but a lousy master.

  • There are many systems that work and it is best to find one that fits your personality. I do recommend the system we trade here at Winners Edge Which is a price action strategy. If you want me to send it to you just send me an email at [email protected]

  • Ray Barton

    Read Ed Burns, All so true. Get the Demo account running in the right direction with Ed Burns three Rules and you will be on your way.Yes Casy you are also right you have to love it and dream it. I do.
    regards Ray Barton

  • Barbara

    Thanks Winners Edge. Your articles have given me a lot to think about. I had planned on trading because I want to make some money RIGHT NOW but i see that is the wrong approach

  • Bailey

    I know that there are alot of systems out there Mr. Stubbs. Is there any specific one that you would reccomend after your years of experience?

    Wonderful article by the way. So true to so many extent

    K. Baiey