The short answers is of course yes, but there are different ways that you can go about this and some of them might not be what you think.

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We just have a quick question here from a subscriber asking, whether it’s possible for someone to make a living from forex trading.

So, this is a very common question first of all, we do get the question all the time. And it is a very understandable and valid question to have especially, with all of the various scams and nonsense out there that you get in the industry.

Now, the short answer is yes, it is possible to make a living from forex. But there are a few things that we need to consider and keep in mind. So, the first one is we need to distinguish between trading for a living and, working in the Forex industry for a living.

Now when it comes to trading itself, there are a few routes that you can take, which includes trading your own capital, or trading other people’s money maybe as a fund manager or money manager. And then even maybe starting your own hedge fund or prop firm et cetera.

Now the challenge for most retail traders who want to trade their own capital is that they don’t realize how much money in reality they need to be able to trade full time. Especially if you’re not planning to trade with leverage.

If you’re planning to trade on leveraged you will need a very big or substantial amount, to be able to earn a decent living from it. Apart from that, you also need to consider whether you have the right psychological makeup, to be able to trade for a living using your own capital.

The uncertainty of living on that type of commissions basis if you like. Living from trade to trade so to speak, it’s definitely not something for everyone. That type of stress can really break certain people if you’re not really ready for that type of responsibility.

Then you can also trade of course other people’s money, which is a much better option. Because you can basically use or leverage other people’s capital to trade more substantial amounts which makes it much easier to live from in the long run.

However again, you also need to consider whether you have the right mindset to be able to manage other people’s money. Because, there are lots of good investors out there, but there’s also lots and lots of bad investors out there. And being yoked with the wrong investor can really break you as a trader.

So, with all the stress involved it’s often a much better option for most traders to do it from an investment point of view. So just like you would have a portfolio with a financial advisor or an investment fund. You have a capital amount that you basically invest and trade, as a retirement fund or as a savings fund et cetera.

Now the other route that you can follow is to work inside the forex industry. That can take many forms, such as working as an analyst, or trading for a hedge fund, or for an investment firm, or for a prop firm et cetera. And the good part about that is that you can basically earn a living for doing what you would need to do anyway as a trader, right. So, you get paid while you manage your own capital on the side if that makes sense.

So, you would have done all the analysis and the research already for yourself but now, you can earn an income for that analysis, for that work that you would have already done. But you can earn an income while you basically run and manage your own portfolio in the background.

So, I hope that gives you an idea about your question. So yes, it is certainly possible to make a living from it. But there’s various angles that you can approach from it. Apart from trading other people’s money what a lot of people do is, they prefer to offer signals. So once they have a great track record going, you can basically sell your signals on various websites out there. What’s great about that is you can do that with either a very small trading account, right.

So, you can have a very small trading account. And if your track record is good enough, you can get people following you that pays you a monthly subscription to follow your signals. And that is something that you don’t need a very big account for.

So, there’s many different avenues that you can follow for it. It is certainly possible, but it can be a little bit more technical if you’re planning to do it from a full time basis. So, hope that helps your question. Of course if there’s any other questions, don’t hesitate to let us know.

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