When we started our journey on this path in mid of 2011, we were just like other’s thinking of this as a side income & as we are good at theory in academics we thought it is very easy to make 100% per month. We completed our studies of market & started trading, we gained and lost lot of money without realizing what’s going wrong.
Entrepreneur is a projection of creativity. One aspect of creativity an entrepreneur has to come out of his or her comfort zone. One cannot say, ‘I want to be in my comfort zone and I want to be an entrepreneur’, that is not going to work. Entrepreneurship always involves risks and the ability to undergo hardship.
Then it comes to conclusion that we cannot beat the market, but we can be flexible to adopt the market situation to gain possible monthly income – set goal. And for all these our mindset is the most important thing, thinking of trading as Business & understanding it is not a part time where you worked for 2 hours and you can earn 2$-50$ / hour.
Forex Trading As a Business: If a trader treats forex trading as a business then he/she can make a lot of money. Most of the traders who do not trade according to the business plan are unable to earn money from this market. Let’s see how to make money by trading currencies. You need a proper business plan before starting any business which includes following things:
Do you have Business Plan Ready?
- Research of all the basics needed to do that particular business and develop a strategy for gaining money from your business.
- A deep analysis of the operating cost and income to know the realistic profit objectives.
- Plan for Risk management and Money management applies to Forex Trading as Business.
But most of the traders start their business without doing above things. A trader needs to do above things to earn money and operate at a profit. If you are a business owner and want to earn profit from your business, you need to know the strategy and develop a business plan accordingly. Same is true in forex trading, therefore developing a strategy and following that strategy will certainly make you a winner. Since good trading systems are simple and easy to understand therefore you can easily develop a trading plan.
Make the PLAN and FOLLOW until you see Success.
The main problem for most of the investors is that they do not know the fundamentals of the forex trading and do not make a plan and end up losing. They follow trade pundits, try new stories and use robots to get a short cut success but they lose their money. If you want to earn money, do your own research, make a plan and execute it with a view to keep your profits bigger and business overheads down. This is the real key to succeed in the forex market.
Make sure that your profit is more than your overhead; means keep losses down and make your profits bigger. Most of the traders fail to achieve this because they want to earn money on the bulk of their trades. You will not be able to win 90% of your trades but probably you may win more than 50% of your trade but it does not matter because if you can manage to keep your losses small, you can still earn an overall profit.
A business owner knows that he has many expenditures such as lighting, wages, rent, tax etc. but he knows that he can earn money only if he is able to keep his overheads small. In forex trading, losses are considered as your overheads and you have to cover them with your winning trades.
How much gain you should expect from currency trading?
You should expect a realistic gain of 50% per year. Currency trading business needs far less efforts to make profits as compared to other businesses. Many traders make 100% annual gains. Can any other business give you such huge profits in so less duration of time? No other business provides such great rewards. You can earn a lot of money if you take your forex trading business seriously. Do not treat it as a gamble otherwise you will join the group of losers. You can generate a fantastic income by treating forex trading as a serious business.
Enjoy the world, without getting attached to it. You have to take a deep breath in. But you can’t hold onto it. You have to let go (of the breath) to enjoy the fresh air. In life, it is the same thing. Letting go is important.
- All those who have decided OR Want to change their living, Want to be financially free using Currency/Forex Trading Concept (Forex Trading as a Business).
- This is the best place in the world to start making Money.
- Your own choice of Yes and No will make your Destiny!! Take time and understand What you really want from the life? And what all you are missing from your life.
Best Inspirational Video (Forex Trading as a Business)