Can you make a living as a forex trader?
If you’re new to trading, you might well wonder if it’s really possible to make a living from currency trading, given that the majority of small traders do not. The short answer? YES! It’s definitely possible to make a consistent income from Forex trading.
Can you be a millionaire from forex?
Forex trading may make you rich if you are a hedge fund with deep pockets or an unusually skilled currency trader. But for the average retail trader, rather than being an easy road to riches, forex trading can be a rocky highway to enormous losses and potential penury.
Can you really make a living from trading Forex?
And, the answer is YES, you can make a living from trading forex. But, it is not that easy, you need to be consistently doing a lot of things in the right way to become an effective and successful forex trader.
Is it possible to earn a good income as a full-time trader?
So let’s go back to the main point: Yes, it is possible to earn a good income as a full-time trader. That is why Navin does what he does, so he can turn that ‘myth’ into a reality. It doesn’t happen overnight, it takes time, persistence and a lot of practice but it can and has been done by many of Navin’s students.
What does it take to become a successful forex trader?
They spend a considerable amount of time documenting and researching trades and strategies and incur a significant amount of expenses to conduct their business. Although not specifically required, most qualified traders will open and close multiple trades daily and hold their positions for less than 30 days.
What are the tax implications of being an independent trader?
Working as an independent trader can be a way for individuals to make extra income, or even possibly a full-time living. But like any business venture, the income generated from trading is taxable.