Making money trading Forex is possible! Many people are already doing it and you could too. Whether you are a beginner, an intermediate, or an advanced trader, you will find here some pieces of advice to start your journey or improve your skills. In this guide, you will find your path to make money trading Forex.
Introduction
We all want to be successful, we all want to make money, and if you are on this website, you probably aim to make money trading. Trading Forex is easy, making money with it is hard! You need skills and preparation and it is worth finding your path to follow to become successful or even more successful if you already are.
The first step is to understand your level of experience. You may have never traded before or you may already be a profitable trader — the path will be different in the two cases.
All traders are divided here into three main categories with a different path for each one of them. The categories are: Beginner, Intermediate, and Advanced. Find your category and start improving your trading experience!
Beginner Traders
Beginners traders are the ones that have just started their adventure in the Forex world.
You are a beginner if you have all or some of the following characteristics:
- You have never traded before.
- You have some trading experience but you are losing money.
- You have been trading for less than 6 months.
- You have a trading capital of no more than $1,000.
There is nothing bad with identifying yourself as a beginner. We all started somewhere — even the most successful traders have been beginners. The important thing is that you must be motivated and committed to improve your skills.
If you are a beginner, please see our guide on How to Become a Successful Trader — Path for Beginners.
Intermediate Traders
Intermediate traders have already been through the struggle of the first few steps. They understand the fundamental mechanism of trading, but they still cannot be profitable.
You are an intermediate trader if you identify some or all of the following:
- You have some experience trading, usually between 6 months and 2 years.
- You trade quite regularly, but you aren't happy with the results. You may be in a breakeven or slightly profitable territory.
- You have a trading capital of at least $1,000.
Being an intermediate trader is tricky. You know what you are doing when trading, but you are still missing something to become a superstar. It may be the lack of discipline, poor risk management, bad trading strategies, or some other factor.
If you are an intermediate trader, please proceed to our guide on How to Become a Successful Trader — Path for Intermediate.
Advanced Traders - Superstars!
If you are an advanced trader, congratulations! You are a superstar!
Advanced traders are making money and can make even more with some more tips.
You are an advanced trader if you have some or all of the following:
- You have been trading for more than 1 year.
- You trade regularly and are consistently profitable.
- You are comfortable having an account with at least $10,000.
- You love trading and you make an income out of it.
Even if you are an advanced trader and you are already making money, perhaps we have something for you. Something that may allow you to make some more money.
If you are an advanced trader, you can see our guide on How to Maximize your Profit - Path for Advanced.
Conclusion
If you want to make money in the foreign exchange market or if you are already doing that and want to make more, you need to improve your skills and use the right tools!
In this guide the traders were divided into three categories, so that you could find your ideal path to success. Follow the link in your category to find your next steps!
