AG Events » Can I make a living trading forex?

The answer is a big yes! People make a fortune trading Forex. Just like in any industry, there is the 5% of people who dominate and the remaining 95% make little to nothing.

So if you want to be like the successful 5%, your duty is to figure out what makes them so successful and model such traits.

And in Forex trading ones of those habits that differentiate the winner from the losers is the ability to stick to a plan. Successful traders enter every trade with a plan. They stick to their plan and after hitting their target they call it a day.

Successful traders are not born that way. It’s a skill they learned over time. And with patience and continuous learning, you too can become one.

But it all starts with acquiring knowledge of trading the financial markets.

Next is fundamental analysis. This is what the pros focus on. So if you want to trade like the pros, this is what you should be focusing on. Learning FA will help you understand economics.

You’ll get to know how political events impact the Forex markets; how the central bank decisions and interest rates move the currency markets. How random events like natural disasters have an effect on the financial markets.

Learn sentiment analysis. Sentiment analysis is a simple term is evaluating how the market and traders/investors are feeling at any given trading time. Are they feeling bullish/optimistic or are they pessimistic/bearish?

Picking the right broker is another key thing to learn. Different brokers operate in different ways. You should learn how to properly go through a checklist to qualify a broker to manage your trades.

Forex trading is probably one of the most profitable sides hustles you can grab today. In fact, if it wasn’t so profitable we wouldn’t be having more than $5 trillion daily traded value. But that’s beside the point. I’m pretty sure you want to find out how much you can expect from about a week or a month of trading Forex.

Well, it’s not that easy to answer the question so let me bring in a story for you.

Meet Nathan. Nathan is a father of two and has a stable job as an accountant in New York. He’s relatively successful and is able to bring in about $100,000 a year as income for his family.