Trading for A Living - Two Things to Expect If You Want to Live by Trading Currencies

"Trading for a living" is the ultimate dream of all trader wannabes out there. They read (or listen to) the hype, then enter the world of forex trading with all that unrealistic hopes and expectations. Of course, 90% of them get crushed immediately, the rest are learning to accept the hard fact and continue their effort to get better at it. Some of them made it, some don't.

Is it really that hard to support yourself by trading forex? Well, yes and no. It is only hard if you have unrealistic expectations such as getting rich overnight or becoming a millionaire with $25 investment. Prepare yourself well and it will get a lot easier. These are what you need to expect when you're trying to make forex trading as your main income source:

You'll lose

You'll have loss trades. It is inevitable and you'll experience it sooner or later. We're dealing with the most volatile market in the world, so if you stumbled upon someone who claims to have a 100% no-loss trading system, it'll be one of the following:

- He will tell you to hedge your loss position.

- He will tell you to wait until the price gets back. While you can do this in stock market, doing this kind of thing in forex trading is purely suicide, especially if you're trading with borrowed margin.

Don't expect to win every time you enter a position. This is another good reason to apply good risk management and money management to minimize the risk from loss trades. A good trading system will give you decent profit at the end of the month, but you'll still have several loss trades along the way.

You'll have to keep learning

You learn trading strategies from a professional trader whose system has received high reviews from the forex trading community. There are a lot of positive testimonials from successful members. You check out a lot of reviews and read the program details carefully. You're absolutely sure that this program will change your life.

It turned out that it doesn't. You have streams of loss trades. All of your analyses went wrong. Is it a scam program? It could be, but first you must understand that different people with different circumstances will have different result. Of course, there are also differences in initial skills, how much resources that can be allocated, and how far you're willing to go to get better.

Each trader has his own specialty. Maybe day trading is too stressful for you. Maybe your trading style is more suitable for long-term trading. Either way, don't give up and keep learning. Utilizing a demo account is the best way to do this. You can test various strategies in a real market condition and apply the one that works to your live account.

Losing and learning are part of the game if you really want to get better in trading forex. When you can accept this concept, "trading for a living" is not as impossible as it might seem before.