can I choose forex trading as a real career?

[apple1937]

I have got in that case few times. I got TP for 8/10 trades but profit still was negative. Since with each trades, I put TP very short and SL very far. So when my trades reach TP, I get a little money but when my trades reach SL, I lose about 3-4 times than TP money.

 

With 2 trades lose per 10 trades, summary I got lose. So the best is get TP for all trades (but it's impossible).

 

I suggest you to review your Risk(SL) Vs Reward(TP) Ratio. For instance, if you only risk 10 pips (SL) and get a reward (TP) of 20 pips for each trade, even 5 out of 10 of your trades are winners, you are still making profits! :) Don't simply influenced by some newbies' mindset "I love trading", so you are going to enter trade whenever your system triggers some weak entry signals. You need to question whether does it worth for you to take that signals and enter trade?

Edited April 30, 2013 by apple1937

[Rambo35]

Sorry if you are misunderstood me. its the risk I'm talking about!! 0.03 = 3% dont mix up the numbers, risk only as much as 3% per trade

 

I think 3% per trade for new traders is a bit aggressive. Of course it depends on the individual, but I would recommend that new traders risk not more than 1%.

[Guest FloridaTrader]

I suggest you to review your Risk(SL) Vs Reward(TP) Ratio. For instance, if you only risk 10 pips (SL) and get a reward (TP) of 20 pips for each trade, even 5 out of 10 of your trades are winners, you are still making profits! :) Don't simply influenced by some newbies' mindset "I love trading", so you are going to enter trade whenever your system triggers some weak entry signals. You need to question whether does it worth for you to take that signals and enter trade?

 

Hey my good friend, I can't pm you since your pm box is full. Can you delete it and shoot me a message? Thanks buddy :)

[Alpha32768]

I would be really careful with this decision, it is a hard business to succeed in.