How I Make Money Trading Forex and Quit My Day Job
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How are you today? Tired from another hard day at work? Just want to relax and have dinner?
I get it because I was just like that 3-4 years ago.
Today I am a free man and to stay this free and happy all I need is two hours a day that will allow me to make serious money from home using my very own computer and that is it.
No, I don’t have a day job anymore because I don’t need it.
I don’t want a boss over my head, I don’t want to answer to anyone and I certainly don’t want to get up so early in the morning just to get to an office and sit there for 8-9 hours each and every day for 30 years of my life.
So what did I do to change that? I learned to trade stocks and Forex and in this article, I will share with you some crucial stocks and forex trading tips that will help you become free and happy just like me for the rest of your lives.
There are many stocks and introduction to forex trading articles on the web, but you don’t need to know them all.
If you want to make a living from trading, you need to trade and make money each and every day, so you’re going to buy and sell the same day and not worry about tomorrow or next week – That is your strategy and to succeed in it, you’ll need to know follow the following rules.
Forex Tips That May Change Your Lives
These tips may seem general to you but every professional trader started his great success using these tips as they are the basics of every trader. So, grab a pen and a paper, write these tips down, memorize them and follow them step by step:
1. Trade with the right amount of money – That means don’t put all your eggs in one basket. At first trading will be difficult, you will make mistakes as I did and everyone else who started and that natural, so that is why you would like to trade with a small amount of money at first, get the hang of things and as you learn the market and the world of trading, as you gain more confidence and experience with time you can trade with larger amounts.
2. Don’t be afraid to lose – If you’re afraid to lose your money you will lose it, it as simple as that. You have to trade freely, with no fears, no setbacks, you have to make decisions and choices at the spot and for them to be right you should not be afraid to lose if you were wrong and that is why you should trade with a small amount at firs as mentioned above. But you won’t lose too much and point #3 will tell you why.
3. Always come prepared to a trading day – Two to three hours each day should be enough so you’ll come prepared to a trading day. You should have these hours to look for stocks or currencies, write down their entry and exit points so you know exactly how much you’ll earn and limit your losses to a minimum and when the trading time comes you know which positions to enter, when to exit and how much money you’ll profit. Never trade if you haven’t done your homework – Never!
4. Trade with your head not with your gut – Trading is no casino and it has nothing to do with gambling. If you are organized, do your 2-3 hours a day homework, come prepared and know exactly when to enter and exit a position you will make money and become a pro in 2-3 years, but if you start trading with your gut, because you have a hunch or someone tipped you, because you are angry you lost some money and now chasing your losses to get it back – You will lose even more. Remember, trading is difficult at first but with time and experience you’ll know to anticipate the market, you’ll know all the trading tricks and you will make a lot of money, but you have to trade when you’re calm, cool and calculated.
5. Never stop learning and reading charts – This is maybe the best advice I can give you as a trader. The more you learn and read charts the easier it will get. You will see that after a while you’ll need only 2-3 minutes to read a chart of a stock or currency and see if you have a good entry point there to make money from it or not. Now, think how many charts you’ll be able to read in 2-3 hours a day…all this is your daily potential for a lot of money.
Remember. Every beginning trader started with these rules and they follow them to this day because they can/will determine whether you’ll smile each and every day, or work 8-9 hours a day in a job you don’t like. I would have wished you good luck, but we all know luck has got nothing to do with successful trading.