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| Credits photo to Stacey Burke Trading |
So, you want to become a professional Forex trader. That’s why you are here, reading this article. I’ll tell you how you can achieve this. There are so many things that you must consider if you are serious about becoming a professional Forex trader who makes money consistently. This is possible to achieve if you follow the right track. But it becomes impossible to achieve if you don’t do it the right way. Forex trading can be the best event of your life, while it can be the biggest disaster also. It all depends on you, the way you choose to learn and trade Forex and the way you will manage your mind. Make sure to read this article to the end, and also come back to read it over, once in a while, because we human beings are forgetful creatures. We forget our goals, when our emotions take our control, or when we think that the grass is greener at the other side.
What you read here, you can never read it anywhere else because it is written by professional and real Forex traders, not freelance writers and Internet marketers who just want to do some content marketing.
Before you want to know how to become a professional Forex trader, you must know what professional Forex trading is and who is a professional Forex trader.
Who Is a Professional Forex Trader?
A professional Forex trader is someone who makes money through Forex trading consistency. So, a professional Forex trader is indeed a consistently profitable Forex trader. It doesn’t matter how much profit such a Forex trader makes. Even if they can make as low as 1% profit per month, as long as they can do it consistently and they can repeat it over and over every month, they are professional Forex traders. A trader who makes for example 50% profit this month, but they wipe out the whole profit the next month is not even a Forex trader, let alone the professional one.
Additionally, a professional Forex trader is someone whose profit and losses have a clear and consistent pattern in all positions they take, while their losses are always smaller than their gains. Someone who loses 10% of their capital in one trade, but then they get lucky to recover the loss with another trade or with the next several trades is still a novice trader. A professional Forex trader always has a clear risk to reward ratio in all the positions they take. They don’t risk more than 2% of their capital, while their profit is usually much larger or at least 2-4 times bigger than their risk in each position (read this article to learn about risk and reward). I said “at least” because many professional traders are able to maximize their profit even more.
Trading is all about discipline and consistency, and a professional Forex trader is someone who is disciplined and consistent in all the positions they take, and their track record of their last a few years of trading proves this.
This was the meaning of professional Forex trading briefly. If you are new to Forex and you don’t know the basics, and you don’t know how Forex traders make money, I recommend you read this article first and then come back to read the current article.
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