Profit Guide to Forex
Forex Profit Systems

Trading as FullTime Profession?

Hi guys i wanna ask ur advices.I wanna choose trading(Options,Forex,Stocks) as my full time profession and ofcourse am doing lots of research on trading and learing the tricks but i haven't started trading coz am learning the basics still.

I will start with less amount till i understand the Markets and trading technique's and i want to go on further by saving some amount and trading the other amount? I am ready to take down the risks also :) coz there is nothing in the world which is gained with out pain,am i rite?

Actually i wanna be entrepreneur in future and am not born wealthy,to become wealthy and get money to establish my dreams i think i am decided the right path.

Please feel free to judge what ever the way u think...Thanq So much for ur time and advice.

Public Comments

1. It is probably better as a hobby until you really know what you are doing, or as a way to suppliment your income from a steady paying job.

2. I didn't know there were tricks to the trade
I always thought it was about using your head

3. I wouldn't advise jumping into it head first right now especially with this bear market and economic uncertainty. The fed has already demonstrated that they are looking out for the big guys and don't care about the small time investors. Things are just too risky right now, the time to get in would have been about 5 years ago, a few months after 911. I'd say now is too late unless you are going to stay short and execute puts all day everyday.

4. Full time trader? Wow I think u better start full time learning :D
Option, Stocks and Forex, They are 3 different things
I like Forex, cause it's very liquid and 24/5 hours trading time. And I like the leverage in Forex too. U can start with small capital to earn high profit. Don't forget the Automated Forex System..

5. The first thing to do is write in standard English not like you are text messengering to your friends. You will sound professional. I know you can because you even spelled entrepreneur correctly. If you ask a professional question in standard English you are more likely to get professionals to answer.

I do trade as a profession. I am semi retired, so I don't trade everyday. But when I do trade it is a full time job. I do not leave the computer until the market closes or I am finished for the day.

First find a place were you can actually paper trade minute by minute. Paper losses are easy. There is no stress involved in losing Monopoly money.

Paper gains will have an opposite effect, you will think you are king of the world. You are not, no one is. Don't become over competent over a few good days.

The beast will try to bite you twice for every bite you take from it. The reason must traders go broke is they think they know more than the market. They do not. The market is always right. The other reason is under capitalized. They plain do not have enough money to buy in suffient quanity to make up for the fees.

I rarely buy less then 500 share. I rarely buy a stock under 20, I have bought a few, but never under 10. With 500 shares a 20¢ gain is $100 minus $14 to Scottrade leaves me with $86 not bad for what would probably be 5 minutes and with many stocks you can do it 3 or 4 times in a trading session. Look an NKE pattern over the last several days. DO NOT BE A BUYER .....be a looker.

Someone mentioned first thing you need to do is decide if you are going to trade options, stocks, or Forex. That is very true because just like a zoo, each beast is very different.

Forex is highly leveraged. That is a good thing if you are on the plus side of a trade, but if you are losing it will really bite you. Forex is like a badger, fast and fierce.

Options are not leveraged at all. But the possibility of losing all your money is very real. It is like the family dog... sometimes it dies.

Stocks can be leveraged for the most part 2:1. Qualifiedly traders can get leveraged more at some firms. That is not a good idea. Stocks are like a cat, sneaky. One minute they are kind and purring next moment they are hissing and mean.

Do your research and good luck.

6. it is very addicting and there are laws against day time traiders. might want to check that out first. i dont think it is a good idea. and if you do so, stay away from the penny stocks

7. hey, well do what i did
i went into stocks with only $100, not to jump in with $10000 lol
and work your self up from there and see how you do! :) and if you like it then you'll like it if not then not.
try this company, it charges you less per trade then more, only $4.50 thats really good, and really good for beginners :)

http://friends.zecco.com/r/03e172105a27102b8555

they also have forums where you can read about what other investors are saying !
remember, read up before buying stock!

Good luck!

Have a GREAT and a GOD blessed day!

8. From your post, it sounds like you might be under estimating what is involved. I don't know anyone who starts with Forex, Options and Stocks. They are each different, requiring different skills sets and knowledge.

My suggestion would be to start with stocks. Forex is "sexy" and you'll hear a lot about 24 hour markets, etc. It's tough place to make money, though. Much of what you learn from trading stocks will apply to Forex.

Options are complex and will require a good deal of time and effort to understand. I trade options routinely, and can tell you that I lost money consistently when I first started with them. It was not until I had a solid understand of what options were, how they worked, and how to manage them that I was able to pare my losses and get profitable.

Now, if you want to trade full-time you will need sufficient capital for trading. You will experience losses, so you need enough money to cover expected draw downs and still leave you adequately capitalized to continue trading unimpeded. The net between your profits and losses need to be sufficient to pay your overhead and living expenses, plus grow your account.

I was also confused by your post because you opened by saying that you want to choose trading as your profession. You later tell us that you actually want to be an entrepreneur. Which is it? Full time trader or entrepreneur?

I suppose you can be both, but if you do honestly want to trade full-time you really need to dedicate yourself to it. It's sort of like someone saying "I want to be a full-time surgeon, but I actually want to be an entrepreneur..." You're going to spend a lot of time in school and training to be a surgeon. The same is true with trading, except your "school" will be less formal. Nonetheless, you have a great deal to learn and you will struggle in the market until you do learn the important lessons. If you are only partially committed, you would be better off doing something else and save yourself the frustration.

Trading can be a fantastic skill once properly developed. Take the time to learn the fundamentals properly, focus on one market for starters, and keep an eye on your risk.

Good luck!