Finance Update

Is It Possible To Earn A Living Through Trading?

This is a question that is often asked on various forums:

Well, to answer it in the simplest of terms, let me tell you clearly that when you will start out with a capital to begin making a living only through trading you are bound to lose most part of your money and more often all! But it is definitely not impossible to make a decent living only by trading.

You may become disillusioned and lose interest in trading but that is just the beginning. Let me tell you my experience. When I finished college, I wanted to take to full time day trading. I decided to put $250 that I had saved to invest in Forex.

I was only beginning to warm up to trading by learning the nuances. There were a lot of things that I was only beginning to understand. The entire investment of $250 got wiped away in one wrong trade and I was devastated. The money that was there was everything that I had saved for a rainy day.

I borrowed money from my father:

Slightly smarting from the previous experience, I decided to go really slow. While I traded carefully, I was also reading up a lot of the markets. I was simultaneously watching a lot of shows that taught how markets across the world had to be analyzed and what the number meant and what they indicated. I was becoming a pro but not that I was not losing money. But one thing I learnt was that when you are investing our own money you tend to become more reckless and at the same time you tend to exercise a lot of caution when it is someone else’s money. This I realized must be because you are answerable to that person to the extent of that amount.

I read a lot about Forex indicator because in the end everybody trades. The difference between the good and the bad trader is that while a bad trader sees the number a good trader sees the opportunity and tries to cease it!