Is it possible to live on income from Forex

Is it possible to live on the income from the Forex?

Once upon a time I was interested in such issues.

Is it worth it to do this and to rely on this source
income?

Since then, much time has passed, and something cleared up. Not
claiming to be a comprehensive answer on the questions posed, I hope that my
Reflections will be for someone useful. Thanks to all who pay attention
these reflections.

Question 1:

Is it easy to work and earn money on Forex?

For over 8 years, the Russian-speaking Internet sector and
CIS persistently cultivated the image of Forex Exchange as the light source
and a lot of money. I must say that it is done very well, and every
emerging dealing center image of this only intensifies. Such situation
quite natural, since the new, inexperienced clients feed their money
Directorate DC. I believe such an outrage not stop soon, if at all
once stopped.

Do not believe the advertising. Work on the stock exchange – it is very difficult.
The reason is at the individualization of work. If in the normal
business tens or hundreds of employees work for the company’s revenue,
here the gains and losses depend only on one single person – from
traders managing a deposit account. If the company someone to do
error, it insure a more experienced employee or manager, and error
hardly would be disastrous. Working on the stock exchange trader
free from the authorities, but also the responsibility of all of your weight falls
on him.

In order to master almost any "office
work" We need some ability to think, and in the presence of abilities
you can successfully move up the career ladder. If we are talking about the craft,
will have to master the skills of managing their body (hands).

In the case of the forex situation is radically different. The lion
the share of work on oneself is not directed at the body or the mind. Required
transform feelings, emotions, change some aspects of his personality,
to learn how to remain in a state of mental equilibrium, not responding to
market movement emotionally. Formation of such qualities as self-control,
freedom from greed, anger, greed, sadness, even in the framework of the Forex deal
difficult and very long. Eastern religions teach in all problem situations
"start with yourself", That is, the search for the reasons in their shortcomings. If
in life to notice the source of all life’s vicissitudes of a difficult, in
everything is obviously in the Forex: if entry into the market was dictated by the desire
earn 100 points, they are more likely to be lost.

What is the motivation for entry into the market in the novice trader? ABOUT!
Now the market goes back and then it will be possible to earn !!! experienced traders
act differently. Yes, they are indifferent to profit, but the market is dictated by the entrance
only optimum conditions for this. The profit on a particular
transaction they are interested enough. An experienced trader, as a careful gardener rips
only the ripe fruit, which is what the most optimal entry and exit points.

Thus, the main difficulty of the work on the stock exchange
It lies in the fact that the beginning trader will have to synthesize a new
difficult to reach the quality of a person. At the same time, there are many directions,
in which the work does not require such intensive work on himself, and the level
the salary is sufficient to live comfortably.

Question 2:

How long do you need to be at your computer, tracking
the movement of exchange rates?

Traders who have a high level of skill in the art
technical analysis can afford to make several transactions every day,
earn up to 300 points per day. At first it seems that the only way you need to,
but this form of work on the Forex can be compared with acrobatic elements
skaters or gymnasts. For professional athletes such
activities – daily routine, but for the untrained person may
be fatal. In trading, the situation is similar. A novice trader
extreme to anything.

Much safer to enter the market only at the points most
forecast market movements: the intersection point of the long-term and medium-term
channels, strong support or resistance levels, and so on. d. Such situations
formed from several times a week to several times a month, however,
that is enough to make a small, but stable profits. at
It is not necessary to reside in the computer, tracking the slightest
price fluctuations.

Question 3:

Is it possible to live on the income received in the Forex?

This question can be rephrased: Is there a job with a good
salary? Yes, there is, but in order to rise to the level of a good salary, you must
some time to work in the company in order to get to the crux of the matter. On
Forex situation is exactly the same.

If you want to make a profit from the work at Forex
in a month, it means that you are in a deep illusion sooner you from
it comes out, the cheaper it will cost. In my opinion, in order to
closer to the profit necessary to go through several stages.

1. It is necessary to master the basics of technical analysis.

2. You must learn to feel the danger and know when
absolutely unwise to enter the market.

3. It should be the ability to find an entry point into the market with
minimum level of risk.

For passing these three stages is quite suitable
demo account with virtual money. In this case, lead him to be at least
a few months. This will form a strategy, identify its weaknesses
hand and treat the virtual deposit with the same respect as
little real.

4. The quality of some of his character and the need to change
create new ones. Improve trading strategy.

At this stage, you will need a small live account. To me
it seems that for these purposes it is best to approach a deposit equal to 30% – 50% of its
salary. This amount is enough to treat your deposit
very seriously, and such a small amount at the same time makes you feel
quite comfortable, except for the panic at the slightest market moves against you.

Strongly recommend to open a deposit on otdolzhenie
money, hoping to quickly double the deposit and pay the debt.

By myself I know: a psychological pressure to withstand almost
impossible.

Moreover, if you do not have enough money for
opening a deposit, it means that life itself-Fate does not want you to
We are doing it. Who wants to go against their own destiny?

This is not courage but stupidity.

5. It is necessary to gain experience.

Experience allows you to not only successfully find a good point
input and output, but also to correct errors with minimal losses or small
profit. In addition, sometimes there are situations when the mind intuitively sees
familiar model (pattern) of the market and accurately make the right decisions, even without
deep technical analysis situation.

6. It is necessary to have a large enough deposit.

At the initial stage of work small double Forex
deposit is possible. If the expected market moves 100 points corresponds to
profit of 20% of the initial deposit, you will need only 500 points
trades to double your score.

This situation is very popular, as the cost of 1 lot
close to the sume that corresponds to 20% of small deposit. Economically
and mathematical point of view this situation is connected with the super-risk (and
super-profits), but it is quite possible, if the deposit does not exceed the size of one
wages. If we are talking about a substantial amount, the entry into the market
an amount that exceeds 10%, is deadly for the deposit, and in the long term
period, is likely to lead to disaster.

Thus, the yield from the work at Forex
the optimum ratio of profit and risk is equal to 10% – 15% per month. of the deposit.

However, if you get to the sixth stage of the work on
Forex, the problems with the size of the deposit will not be. The world is full of wealthy
people who wish to increase their capital. If you really master
profession currency trader, you will not be left unnoticed. trader high
level will be one of the most sought-after specialists in the labor market as
long as there will be floating exchange rates.

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