Day Trading For A Living in Germany

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Futures trading is a way to participate in the Financial and Physical Commodity markets using very small amounts of capital margin to control a very large contract size, this is known as leverage. The Futures Industry is highly regulated. All Futures contracts are standardized so everybody knows what to expect while in a position. Futures contracts are simply a derivative of a cash market product. The startup cost and commissions are much less than the Equity markets.

But just like any worthwhile endeavor, there is a lot more to learn before you can receive the rewards of a professional trader. The following article will outline some of the obstacles and expectations of becoming a professional trader.

For years people have swarmed to the Futures markets hoping to find the holy grail trading system and get rich overnight. Part of the reason would be because they are smart enough to know it does not exist. Successful futures trading requires extensive ongoing education, repetition of what you have learned, a back tested and written trading plan explaining your trading style, risk management rules, a well capitalized trading account, plenty of free time to analyze the markets both post and pre market, discipline to follow rules and the list goes on.

Learning to trade is not just a financial obligation. You must be willing to commit time and make sacrifices along the way. The rewards of trading are endless, but the skills to maintain this status is an ongoing process. For dreamers a Professional trader is somebody who has made millions or billions of dollars trading, has 3 or 4 homes, drives expensive cars and treats money with complete disregard.

There is nothing further from the truth of a Professional trader. While there may be a handful of Professional traders like this in the world the majority live a completely different lifestyle than the dreamer thinks they do. Most people who trade live a lifestyle well below their means. Even though they have made enough money to buy most of the lavish things in life they choose to live within their means. Many self made millionaires choose to live this same way.

I seem to be getting asked more frequently now by students about how much money they can expect to make as a trader. Imagine how difficult it is to answer that question.

How much money you can expect to make as a Professional trader is as individual as your fingerprint is. For each of us the term successful means something different. Being successful does not have to mean making millions of dollars either. While some will be happy to make just enough to supplement another income they already have.

A lot depends on the lifestyles each of us has chosen. If you have expensive taste and feel you must have the biggest, fastest, most expensive, etc toys then you will need much more money to live. For others they will be content to make a comfortable living and save for their future retirement. There is no magical number anybody can give you to expect to make in the Futures markets. You want to be a successful Professional trader?

All you need is a true passion for trading. This means not trading because you are only doing it for the money, but because you love to trade. Then because you are doing something you are passionate about you cannot help but be successful because you will be happy doing what you are doing.

Again successful does not mean you are making millions of dollars. Another difference between Professional and Dreamer type of traders is risk management. Professional traders are more concerned with risks than they are rewards. Because I have been trading Futures for 25 years many think I am a great trader. To be honest, I am an average futures trader.

What I am great at — risk management. Every trade I look to enter the first place I look on the chart is the point where I will be wrong on my trade. As soon as I see this I know two things:.

Many successful traders use a good risk to reward ratio for each of their trades. Since trading has no guarantees of success we must be prepared for a loss or a series of losses. This allows us to have larger winners than our losers. A typical ratio is 1: Each trader must define how much risk they are willing to accept for each trade.

With such small percentages you can see why having an adequate trading account size is important. While anything is possible in trading it is highly unlikely if the trader uses the exact strategy as planned for each trade. While this article may have sounded a bit negative about some areas of Futures trading I did this intentionally. There are too many media ads showing all the promises of getting rich trading Futures.

At Online Trading Academy each of our classes will show the trader about risk management and how to use it. We want to help you become Professional risk managers as well as helping you learn to trade.

In closing remember that Futures trading can be as rewarding as you want to make it. There will be some bumpy roads along the way. But remember, a road with no obstacles probably does not lead anywhere.

Commodities March 5, Futures Trading: Disclaimer This newsletter is written for educational purposes only. By no means do any of its contents recommend, advocate or urge the buying, selling or holding of any financial instrument whatsoever. Trading and Investing involves high levels of risk. The author expresses personal opinions and will not assume any responsibility whatsoever for the actions of the reader. The author may or may not have positions in Financial Instruments discussed in this newsletter.

Future results can be dramatically different from the opinions expressed herein. Past performance does not guarantee future results. Reprints allowed for private reading only, for all else, please obtain permission.

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Advancements in technology have ensured anyone with a working internet connection can start day trading for a living. But whilst it might be possible, how easy is it and how on earth do you go about doing it? This page will look at the benefits of day trading for a living, what and where people are trading, plus offer you some invaluable tips.

The benefits are rather that you are your own boss, and can plan your work hours any way you want. Trading on a laptop also means you can do it anywhere, anytime. Beware — there are many out there who claim to make a fortune on day trading, but usually these people are trying to sell you something. Despite the difficulty, there are some obvious benefits to day trading for a living. To name just a few:. Despite the obvious allures, comments about day trading for a living also highlight some downsides.

The most prevalent of which are:. What are the popular securities and markets then, amongst those who day trade for a living? The cryptocurrency market, for example, is highly volatile, enabling some to make a very good living. Whereas, day trading stocks for a living may be more challenging. It is already a saturated market.

In addition, a relatively high amount of initial capital is required and losses could be more financially devastating. Again, day trading commodities or futures for a living will present its own challenges. All of which points to the need for effective. Whether you make it day trading as a living will also depend on where you live, and the market you opt for. Day trading for a living in India, Indonesia or South Africa, not only offers volatile markets, but you also have a very low cost of living, making a living a more feasible.

Day trading for a living in the UK, US, Canada, or Singapore still offers plenty of opportunities, but you have an abundance of competition to contend with, plus high costs of living. Making a living day trading is no easy feat. Below the top tips have been collated, to help keep you firmly in the black. The question on many aspiring traders lips is, how to start day trading for a living? The answer is you need just a few fundamentals. Not only that, but you always had to maintain at least that amount in your account.

These tough regulations meant the for the majority of people, trading for a living was simply not financially feasible. However, globalisation of the financial industry has allowed numerous platforms to develop outside of US regulation. If you want the best chances of succeeding at day trading for a living you need to utilise a wide range of resources.

Fortunately, you can now find free, educational tools with just a few clicks of the mouse. Some of the most effective resources worth considering are:. A lot of the day trading for a living ebooks, epubs, and PDFs are available for free downloads too, and can be accessed via Kindle. A good system revolves around stop-losses and take-profits. These allow you to plan ahead and prevent heightened emotions taking control of decisions.

If intelligence were the key, there would be a lot more people making money trading. An effective way to limit your emotional liability is to employ as much technical help as possible. Keeping your emotions in check will take practice, a lot of mistakes and then even more mistakes. However, a neat trick that helps many traders is to focus on the trade, not the money. The number of people day trading for a living since has surged. Is it realistic though? The answer is, it depends entirely on your ambition and commitment.

But, if it suits your working style, you choose the right market and you utilise the tips mentioned, then you could be one of the few that triumph. Brokers Reviews 24Option Avatrade Binary. Reviews 24Option Avatrade Binary. Top Brokers in Germany. Trade Forex on 0. Global brand offering exceptional execution, low deposit requirements and advanced charting and trading platform features.