Do you think trading is exciting?
Do you have a passion for trading? Why most people consider trading as their passion? Trading has become the passion due to the exciting feeling it offers. If you look at other types of jobs, they are not fun or exciting. The employee has to do the same tasks, work and so on but when it is about trading.
It is different. Trading doesn’t involve similar trades. One trade will be opposite to another. So even if the trader trades for several years each and every day as a trader will be different.
There will always be excitement in his journey. The Singaporean traders are passionately interested in trading because it offers excitement. If you look at naïve traders, they also enter the market for the same reason but they are not aware of the methods to trade Forex.
They can easily get lost in the large market. They can easily be kicked out. But to avoid these circumstances, you should focus on the things that make the trading journey exciting. To become a professional Forex trader, you should be passionate about trading.
#1 Consistent profit
You have to focus on consistency to make your trading journey interesting. Those who are biased with the short-term profit factors can never lead their dream life based on Forex trading profession.
When you develop your trading strategy, make sure you are dealing with high-risk reward trade setups. Regardless of the market condition, you should never risk more than 3% of your account capital. Even if you face losing streaks it’s very normal in Forex trading profession.
Try to develop a strong reading habit since it will help you to keep yourself updated with the latest market news. Fundamental analysis is often considered as the best way to ride the long-term market trend. Try to find a perfect balance between your technical and fundamental analysis.
Once you have your perfect system, trade the market with discipline. And never risk too much in any single trade as it will ruin your trading career.
#2 Learn the journey of a pro trader
Do you know the journey of a pro trader? If you don’t know, you should take time to find or learn the journey of a pro trader.
When you look at a trader’s trading journey you will be able to understand the way he combats his emotions, the way he finds the online trading platform, the way he finds a profitable trades and much more!
Although you would have to learn the journey of a pro trader, you shouldn’t copy it. If you copy the trading journey of a pro you will end up losing your own self as a trader.
You should have a trading style or you should develop a style. When you have a trading style you would be able to look at trading in a different yet profitable way. It is interesting to find your own trading style, isn’t it?
#3 Learning to make steady profits
You cannot make profits that easily but if you work hard you can stay consistent. Actually, if Forex was easier it wouldn’t be exciting.
When you struggle to make profits, it will be interesting because you try different methods. You will be using different techniques and methods through which you will be able to learn to trade better.
You will improve in trading. Won’t it be exciting to learn the market? Won’t it be exciting to make steady profits?
#4 Learning the losses
The time you spend in learning the losses is something worthy because it gives you the chance to enhance your knowledge.
You will understand the circumstances where you should be careful. You will gain experiences. If you learn the losses beforehand, you will be able to control it when trading the live accounts.
In fact, it will help you to save money as you are already aware of the situations.
What excites you about the trading journey?