Yes, of course!
Forex is a place where traders can speculate and earn money on price movement. Forex is a job absolutely the same as other jobs, IMHO.
Let’s compare Forex trader with cashier in the store, bank employee, and forwarder in a logistics company:
- Beginner who wants to work as a cashier will have to learn how to use cash machine, count money and customer communication, only 3 main functions. It will take not more than 1–2 weeks to become good cashier in a store. It will bring money for living.
- Beginner who wants to become bank worker will have to be familiar with financial sphere, probably pass banking courses, work with specific computer programs, be ready to communicate with customers, and work with money. Become good bank employee will take some weeks. The higher position in the bank, more need to learn and know. It also will bring money for living.
- Beginner who wants to be a forwarder in a logistics company, will have to do more functions. As minimum need to learn information from Internet or pass some courses — to understand how logistics works, etc. Then it is necessary to start communicating with customers, offer good services conditions, provide specific information about cargo, documentation and so on. It will take some months to become advanced worker in this profession. It will bring money for living as well.
- FOREX — Beginners who want to become successful Forex traders and earn money for living will have to:
- MAIN rule — don’t expect that Forex will bring you profit when you start trading, so you have to get somewhere money for living, while you are learning Forex and reach the point when Forex brings you amount of money that is comfortable for living.
- learn Forex information by their own, searching it in Internet, watch some courses, or visit a local city Forex courses. Everyone choose his or her own learning method.
- Practice trading on Forex terminal that you chose. I recommend to practice on demo account, so you could increase your trading skills and experience without spending money.
- Find or build your trading method that will have loss-profit ratio as minimum 1:1+, so you could get more profit rather than loss.
- After you reach the aim for getting more profit than loss, you move to real account and start trading.
- Strictly follow your trading strategy rules, don’t trade on emotions, and control money management. In a result Forex trading will bring you profit for living.
Some traders are fast learners and start trading Fore after several months, but some learn slowly and it can take years. Don’t give up, and always go forward.
You can see now that any job you would do, need to learn, and every profession need different information and time for learning. In any profession you will earn money for living.
So, Forex can also bring you profit for living, everything depends on you.
Wish you to be independent Forex trader!
Please take some time to view myfxbook.
Demo account been running non stop for 12 months averaging 20% a month.
Live account had been running for 7 months averaging 19% a month.
The price is 500 usd this includes the EA and my personal set files for 5 pairs which is all you need to make 10%-20% a month.