Can you make a living out of trading?

Can you make a living out of trading? David Morrison responds. How much money do you need to put into trading? PLEASE LIKE AND SHARE so we can bring you more! How much time do you need to dedicate? Yes, you definitely can and there are traders who make a living out of trading. There has always been people who have been making money on their own trading the financial markets. Other people are just happy to dabble or trade on a part-time basis which I would consider is a sensible approach. If you really wanted to make trading your living, then you would likely know that before doing it. Don’t give up your day job unless you are sure – at first just try your hand at it.

How does one manage the inevitable drawdown? The best way to manage drawdown is to expect them; that they are inevitable in trading. It all comes down to sensible risk management.


GeoffAAA says:

I made 135.82 last month on a 1k account. So long as you trade fairly long term data (uses strong support and resistance), look at the overall pattern. You spead your trades over currency pairs… as many as possible and make sure you’re not in the same direction on the same currency in different pairs… you’re fairly well protected against bad luck. If you see rapid gains on one pair, understand that is great, but rapid grains retrace… so one pulls their money out before the markets correct and cashes in! As you do it you get a feel for the movements, the patterns… and also there is a lot of forcasting online you can use for some extra insight… but dont base trades solely on it.

Don’t need fib lines, indicators, elliot wave theory. Just need to look at strong long term support / resistance (weekly candles) and previous market behaviour… and make sure sure well spread over different currency containing pairs.

By being heavily invested, but lightly invested in any one pair trading psycology is unlikely to negatively influence your deicisons. You might be more likely to allow that trade burrow towards your stop, because you expect it to bounce off some support… whereas you likely to cut your strategy off before it has time to work if you’re too heavily invest on one trade and see it lose money inititally.

Darrell Webster says:

This is the first time I have seen David Morrision and I like his sensible approach. If I can say one thing about the decision to trade either full time or part time, a dilettante approach is doomed to failure. Remember conservative statistics say 90% lose and only 10% of traders succeed, this implies one must seek a deep knowledge of the market you intend to trade and most important the system of trading intended to be applied. Statistically this knowledge must be greater then 90% of all other traders worldwide for you to succeed. The decision of what system to use is so important, there is a technical approach or fundamental, both of these fields have a huge range of options within them you must deliberate between. Think, research, and then think some more.     

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