For the past five years my only source of revenue has been revenue derived from trading on the forex market. Over that time period, lots of people, perhaps somewhat envious of my ability to earn money from home without having to report to a boss, have asked me what it will need to buy for a living. How might one arrive at a point where one feels confident enough to get away from ones regular career, strike off on ones own with no warranty of a typical paycheck, and put what might conceivably be ones entire savings up to that point at risk in the markets?

While I unfortunately cant actually give you confidence in you skill to make it on your own, nor the stomach to risk your cash savings, I can spot you the pragmatic steps that I took to get where I am today. These steps do not include the most obvious ¨learn of the existence of the forex market¨, as presumably you already know something about trading, or you wouldnt be reading this pos.

Step 1) Start saving your income. To buy professionally you’ll need a bankroll, and one that is large enough to withstand the ups and downs that are a natural part of trading. For me, this was easy. I had been putting money aside ever since I started working. Those like me that have been raised to figure out and appreciate the value of saving, will accomplish this quite naturally. Yet, if you are a habitual spender and are conversant in living paycheck to paycheck without putting anything extra aside, be prepared to expend some serious effort curbing your habits and learning to save rather than spend. How much money will you need? Unfortunately I cant answer that specifically because it will rely upon the trading strategy that you employ, the amount of leverage you

plan on trading with, and the sum of money that you ought to take out in profits. You should count on having a bare least though, of a full six months salary saved up before beginning full time trading. One years salary would be still better. Remember that the larger your bankroll, the additional money you can earn without risking an unnecessarily large percentage of your bankroll.

Step 2) Get an education. You cant start trading before you know something about the market you are trading in. This education does not need to be formal (as in University classes), and you do not have to understand economic forces as well as Alan Greenspan before getting started. You should, still, have a basic understanding of why the market that you are trading in exists, how buying and selling on that market works, and the strategy that you will employ to take your profits out of the market. There are a great deal of totally free resources on the web that are valuable your time to read (and you might know some opinions and ideas that are NOT worth your time, but reading some of those that are not worthwhile is part of the process of developing discernment about what is and is not an excellent resource).

There are also some inexpensive trading courses on the internet that are helpful. Part of the education process is coming up with a trading strategy that you are snug with, as well as a money management strategy to make sure the long term viability of the trading strategy. There are numerous good trading strategies out there, but irrespective of which one you select, you should realize that the traders that are successful cut their losses early and let their winning trades run. This may be somewhat more hard than it sounds, but is actually the cornerstone to making money trading.

Step 3) Enroll in a demo trading account and begin practicing while you are not at your regular job (or, if you’ve time free and internet access at your work, WHILE you are at your regular job). We list some good forex dealers at forex-rates, so if you are preparing to trade currencies, be sure and enroll in a demo account with one of the listed brokers. In order to get a real feel for the trading strategy that you have picked out, you must do a great deal of practice, so don’t hurry with this step. Dont start trading with real money until you have an actual history of successful demo trading.

Step 4) If you are making money trading on paper and are comfortable with your trading strategy, proceed and get rolling trading for sure on a part time basis. Dont include all of your savings as part of your trading bankroll yet. Start slowly and gain a comfort level. As your confidence builds, move money from your savings to rise the size of your bankroll.

Step 5) When you can calculate that your regular gains from real trading (from step 4) are at a stage where, if you were to trade full time utilizing your current bankroll, you would be making profits that slightly exceed your present employment salary, you are ready to quit your work and trade full time. Remember, you want your trading profits to exceed your current salary. This will present you with the opportunity to maintain your current financial level, but at the same time carry on improve your trading bankroll, which will let you earn more and additional money as the size of your available funds grows larger.

It is significant to have patience with yourself at all of the steps mentioned. Maintain emotional equanimity and realize that fear and greed are a traders most hazardous nemesis. If you can hold on to these emotions under control and look after the discipline established while following these steps, you can look forward to making it as a specialist trader.

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