I don't know if it'll be a great idea because this 9-5 is draining honestly. Maybe I should just sit home and consider fx only. I need some advice, guys
Create a group of two or three. Give them your signal for 6 months n if they're consistent in profit. Quit the goddam work n do the main thing if it's ya wish. However if u don't like the laptop lifestyle, keep making ya profits from market through swings but keep ya job.
Hey Bro only Quit your job if you have saved up already enough money to Feed you and sought out your basic day to day needs for the next 2years. If you haven't got that much saved up, then please do not make the mistake of quitting your job. You do not need to Quit your job to be focused on Trading as you can choose to be a swing Trader and only have to get to your charts at the end of the day, trading the Asian Session just setting your trades and allowing it to get to your Take profits even without you constantly staying in front of your screen monitoring its every move. Also, you can choose to delve into Deriv synthetic indices Trading (As these trades on weekends) this way you get the time to concentrate on weekend trades while you still get to make those good bucks off the market, I'll leave a link to my YouTube channel to get you started on synthetic indices trading. And then about quitting, in my opinion only quit your job after 6months of seeing consistent profits from Trading.
@Kelvin AdenugaI forgot to mention that many traders ask me when to know that you're ready to trade full time.
1. You need 12 months of an emergency fund to pay your bills. DO NOT Trade full time without an emergency fund, especially if you have family/kids.
2. Your trading capital has to be 10X of the minimum wage in your country. with that amount you can make a minimum wage or double minimum wage monthly.
3. If you have another option, easier way to make money, I suggest don't trade full time, because it's very stressful, you could be homeless at any time. Many "trolls/expert" in social media forum, seems so happy when other traders lose money, they're so happy and celebrating trolling the losers, that's because they're not trading full time, so trading is a game for them, or maybe they trade demo or micro account size, kids.
1. Withdraw the profit! Most traders know how to get profit, but the issue is they NEVER withdraw the profit and end up losing all the hard-earned profit. I had so many clients double even triple their account in only one trade, got the profit, and kept trading large lot size on the second trade; they ended up losing all the profit.
2. Set a daily target; you HAVE to get that amount every day. Let's say in your country; the daily minimum wage is $150, every day on the first trade; you have to try to get $150.
For example, you trade two lot size; gold moves $2 from your entry which means your floating profit is $400, you have to take profit partially even before it reaches your target, take profit $150, then withdraw that $150 to your bank account, and hold the remaining position maybe it goes to the targets.
By doing this, you will feel less stress in the trade because you know you already got your minimum to pay the bills.
3. Stop looking for the "holy grail" in social media; there's none. Most of those experts are fake, selling dreams to a new trader pretending to be successful but ZERO.
4. If you have a trading group chat, I suggest you quit and delete that group. 99% of the members are clueless, the same as you. Trading is a lonely job; the majority fail, some commit suicide, most file for bankruptcy. Stay individual, trust your skill, and keep your circle small.
5. Win rate ratio is NOTHING. You can have 99 lost trades and only one win trade but still profitable. You can have 99 win trades and only one lost trade but a margin call.
6. Trading plan ! You have to write down your goal and follow it. Print and stick it on the wall. Do 50 pushups each time you didn't follow the plan.
7. Withdraw the profit, and treat your loved ones, take them to a nice dinner, get them a nice present, so they will shut their mouth if you spend so much time in front of the computer, hehehe. Don't forget to treat yourself too.
8. Brainstorming with strangers is dangerous! Let's say your trading skill is 8, and you have large capital of $50k, then you brainstorm with strangers who only have skill level 3 with $500 capital.
Make sure you trust the person you were brainstorming with; most of them are losers, aka pretenders, so be careful.
9. Last but not least, Set alerts ! Don't keep looking at the chart, it won't change anything. Set alerts near your target, set alerts at breakeven, set alerts at the invalidation price, etc, just be logical. Alerts help you to stay away from the screen.
@Kelvin AdenugaYes, but can you improve your chances of succeeding at trading? you don't make such a decision if you are not a pro at trading. I mean, you are very sure of your strategy and It must have been making your profit consistently, if otherwise I no dey o.
If you're still a beginner, I wouldn't support that tho.
Bro, in the case of success, a lot goes on behind trading. It may seem all easy, like a money-minting machine but trading without knowing the basics of markets and technical analysis is like shooting in the dark. Only here, you not only miss the aim but also put your emotions at risk. It's a hard decision and I don't know what to say to you fr
This should only be considered if you're an excellent Trader and you've making consistent profits, if not, Please continue your job and let trading be your side hustle
@Kelvin AdenugaOmo quitting your job to trade fx full-time is a step you must carefully examine before taking.Think about what will happen if you fail.
Thank you guys for your advice. I've read through all and I found answers
Create a group of two or three. Give them your signal for 6 months n if they're consistent in profit. Quit the goddam work n do the main thing if it's ya wish. However if u don't like the laptop lifestyle, keep making ya profits from market through swings but keep ya job.
Hey Bro only Quit your job if you have saved up already enough money to Feed you and sought out your basic day to day needs for the next 2years. If you haven't got that much saved up, then please do not make the mistake of quitting your job. You do not need to Quit your job to be focused on Trading as you can choose to be a swing Trader and only have to get to your charts at the end of the day, trading the Asian Session just setting your trades and allowing it to get to your Take profits even without you constantly staying in front of your screen monitoring its every move. Also, you can choose to delve into Deriv synthetic indices Trading (As these trades on weekends) this way you get the time to concentrate on weekend trades while you still get to make those good bucks off the market, I'll leave a link to my YouTube channel to get you started on synthetic indices trading. And then about quitting, in my opinion only quit your job after 6months of seeing consistent profits from Trading.
https://www.youtube.com/watch?v=Hx2SeHcMGjk
You can do this if you're profitable and you have enough capital.
Have you been able to maintain consistent profitability? If yes, you can consider it but it's to best to have something else to compliment trading.
No. U can only quit ur job and become a full time trader if u are consistent for at least 3 years
Hell no, until you build a solid foundation which means you're professional trader you make profits than losses then you're good to go
@Kelvin AdenugaI forgot to mention that many traders ask me when to know that you're ready to trade full time.
1. You need 12 months of an emergency fund to pay your bills. DO NOT Trade full time without an emergency fund, especially if you have family/kids.
2. Your trading capital has to be 10X of the minimum wage in your country. with that amount you can make a minimum wage or double minimum wage monthly.
3. If you have another option, easier way to make money, I suggest don't trade full time, because it's very stressful, you could be homeless at any time. Many "trolls/expert" in social media forum, seems so happy when other traders lose money, they're so happy and celebrating trolling the losers, that's because they're not trading full time, so trading is a game for them, or maybe they trade demo or micro account size, kids.
@Kelvin AdenugaFull time trading tips
1. Withdraw the profit! Most traders know how to get profit, but the issue is they NEVER withdraw the profit and end up losing all the hard-earned profit. I had so many clients double even triple their account in only one trade, got the profit, and kept trading large lot size on the second trade; they ended up losing all the profit.
2. Set a daily target; you HAVE to get that amount every day. Let's say in your country; the daily minimum wage is $150, every day on the first trade; you have to try to get $150.
For example, you trade two lot size; gold moves $2 from your entry which means your floating profit is $400, you have to take profit partially even before it reaches your target, take profit $150, then withdraw that $150 to your bank account, and hold the remaining position maybe it goes to the targets.
By doing this, you will feel less stress in the trade because you know you already got your minimum to pay the bills.
3. Stop looking for the "holy grail" in social media; there's none. Most of those experts are fake, selling dreams to a new trader pretending to be successful but ZERO.
4. If you have a trading group chat, I suggest you quit and delete that group. 99% of the members are clueless, the same as you. Trading is a lonely job; the majority fail, some commit suicide, most file for bankruptcy. Stay individual, trust your skill, and keep your circle small.
5. Win rate ratio is NOTHING. You can have 99 lost trades and only one win trade but still profitable. You can have 99 win trades and only one lost trade but a margin call.
6. Trading plan ! You have to write down your goal and follow it. Print and stick it on the wall. Do 50 pushups each time you didn't follow the plan.
7. Withdraw the profit, and treat your loved ones, take them to a nice dinner, get them a nice present, so they will shut their mouth if you spend so much time in front of the computer, hehehe. Don't forget to treat yourself too.
8. Brainstorming with strangers is dangerous! Let's say your trading skill is 8, and you have large capital of $50k, then you brainstorm with strangers who only have skill level 3 with $500 capital.
Make sure you trust the person you were brainstorming with; most of them are losers, aka pretenders, so be careful.
9. Last but not least, Set alerts ! Don't keep looking at the chart, it won't change anything. Set alerts near your target, set alerts at breakeven, set alerts at the invalidation price, etc, just be logical. Alerts help you to stay away from the screen.
Kelvin! It's crazy how we are thinking the same thing. I'm planning to do this soon, I just need to achieve some of my goals.
@Kelvin AdenugaYes, but can you improve your chances of succeeding at trading? you don't make such a decision if you are not a pro at trading. I mean, you are very sure of your strategy and It must have been making your profit consistently, if otherwise I no dey o.
If you're still a beginner, I wouldn't support that tho.
Bro, in the case of success, a lot goes on behind trading. It may seem all easy, like a money-minting machine but trading without knowing the basics of markets and technical analysis is like shooting in the dark. Only here, you not only miss the aim but also put your emotions at risk. It's a hard decision and I don't know what to say to you fr
This should only be considered if you're an excellent Trader and you've making consistent profits, if not, Please continue your job and let trading be your side hustle
@Kelvin AdenugaOmo quitting your job to trade fx full-time is a step you must carefully examine before taking.Think about what will happen if you fail.