An Essay On Forx Trading

Good Essays

How Much Money Do The Top Forex Traders Make? Introduction There is serious earning potential at hand when you choose to trade currency, something that every investor should be trying to unlock. Looking at the scale of forex trading, it’s certainly worth knowing not only what the top traders are making, but also how they are making it, along with how top traders differ from the rest. Looking at the numbers While everyone’s forex trading experience will be different, if you are looking at the true upper echelon of forex traders, you’ll find that the percentages being turned over on a yearly and monthly basis truly are astounding. Most traders will look at their margins monthly, and it wouldn’t be surprising to see a professional trader …show more content…

Finally, the currencies you actually trade will have a huge influence on your profit and loss levels. Some currencies are slow burners, which makes them favourites of beginners and large volume traders, while others have a real “snap” as it were, which means volatility, risk, and potentially bigger profits when trading them. How professional traders differ from the rest It has been said before, but it certainly stands to reason. Professional forex traders represent the 1%, while casual traders represent the other 99%. This is because professional traders approach the market in a distinctly different fashion to casual traders. Looking at how professional traders differ from the rest, you will find that a large degree of this comes in the form of mentality and focus. Casual traders are known not to be selective when entering trades, showcasing impatience. They also have a track record of letting emotion, fear, and greed takeover, diverting away from what otherwise might be a solid trading strategy. Casual traders can certainly turn a profit – in fact, many do – but letting the heart rule over the head, along with always looking for the next “quick fix” position in the market, usually hampers performance. When forex trading on a professional level, patience and discipline is unequivocally key. Top traders have an understanding of the damage

Get Access