Is It Possible To Live Forex?

There is no market that attracts more willing investors to live trading than the Forex. I like many investors I wonder Is it possible to live Forex? , I imagine if possible, although I do not know if this will be possible directly or indirectly. Let me explain: 

Many traders who invest in Forex or other markets, not only do Trading, they also sell their trading ideas or their knowledge, to complete their income. That for me that is live Forex, but not live trading. 

A day traders love the Forex, simply because the Forex is a market that works 5 days a week for 24 hours, for all who aspire to live Forex, or live trading, this idea sounds like celestial music: practically uninterrupted possibility of being able to do operations in the market. 

There are many Forex traders who claim that it is possible to live Forex, the problem is that the market usually devours most small investors before being minimally profitable. After three years, few investors from which they started are still trading , this is proof of how difficult it is to achieve profitability. 

As an investor I believe and affirm, that you can make money with the Forex , or with any other financial asset, but the really difficult thing is to live Forex or Trading in general.

I am skeptical by nature and somewhat suspicious, because the traders who are supposed to be profitable and have managed to live the forex are the ones that also sell us something: whether trading courses, trading signals, books, etc. 

Come on ... I know a few traders who claim to be profitable within the Forex or Day Trading in general and also do not want to sell me something. It may be that at some point they want to share their knowledge, if it is true that many of those who invest in markets, feel a little indebted to all who have taught them something, and teaching is part of share something gained, but ... you can expose the knowledge for free, 

Leave a stable job, to live Forex

One of the great motivations that have those who want to live Forex, is to leave a job that they are not passionate about and in which they are trapped. 

Trading offers promises of freedom, which can not be given any other activity. 

You can trade in Forex from anywhere in the world , you just need an Internet connection and an Online Broker to operate, that simple and easy. 

Such a wonderful life, near a paradisiac beach, on the edge of a swimming pool or doing cultural tourism around the world, is what the Trading industry really sells to us. 

True, we could live like this. In theory everything is possible, but you have to know that the reality is much harder, at least reconsider enough, before leaving a stable job.

What do we really need to live Forex?

If I had to demand two fundamental premises, in order to live Forex, I would say that the essential would be:

Be profitable on a regular basis

Let's overlook all that is training. If we want to live Forex, we must have passed the knowledge stage, it is necessary to be in possession of the necessary knowledge to operate: technical analysis, fundamental, psychological control, Trading systems, risk management, capital management ...

All these knowledge can and should be had, but with knowledge alone is not enough. 

You have to be profitable on a recurring basis. 

And I'm not referring to one month earning money and another not. Invoices arrive every month. 

Every month you have to pay for water, electricity, telephone, housing and you have to eat. 

You have to be profitable, andthat profitability has to be sufficient enough to cover our needs . And this leads me to the second premise:

Have a Proper Trading Account

The best investors in the world, speak of annualized returns of 20% . How much is an annualized return of 20%, translated to profitability-month? 

Do not try, if your profitability a month, is 2%, you would need to be in the disposal of an account of 100,000 €, to get 2,000 € month. 

I will not go into details, because Trading in Forex, is a very leveraged Trading . The accounts are on the margin, and you may be able to get higher returns, even starting from smaller accounts. Although the danger of leverage is in forcing the machinery, and we end up bursting in the face.

Forex live is more work

If you decide to live Forex, in the end you will be a more salaried, but with the problems that all the autonomous. 

When you depend on yourself, your effort and profitability, you can find that there are really complicated situations: that you are sick, that you do not have access to the Internet (if you travel), that the market changes and your profitability goes down. 

There are so many problems that you can find, that I understand those traders who decide to supplement their trading income, with additional ones. 

Living Forex can be exciting , but it does not have to be easy.