The Life of a Forex Trader

A trader can work for himself or with certain parties based on prior arrangements. A trader can also work with banks, large brokers, or financial institutions, and investment institutions. To become an independent trader there is no requirement of a certain diploma or educational background. The client will trust you based on your professional trading experience or there are certain parties who recommend.

But if you work as a trader for investment companies, banks, or other large brokers. You must meet the prescribed formal education requirement. Shows your trading experience and achievements. They also passed some of the tests they conducted. Some large banks and brokerage firms even provide certificate requirements issued by the regulatory body. A forex trader in the United States must have a Commodity Trading Advisor certificate from the NFA, a government regulatory agency.

Trader’s Salary

In the United States, a trader working for an investment company will receive a base salary as compensation. In addition, the total profits you achieve in a given period and your trading volume also become additional points of compensation.

The average base salary of commodity traders and forex traders in the United States is USD 60,980 per year. USD 104.000 per year for top rank 10% which excludes bonus. A professional trader can even get a base salary up to USD 120,000. While the bonus they achieve is USD 150,000 to USD 250,000 per year.

Factors Supporting the Success of Forex Traders

To successfully arrive at that position, a trader must have some qualities. Such as quick response, stay calm, and open.

No need to worry even if you do not have a higher education background. You are still considered a qualified broker if you have a good trading experience during your independent trading career.

The Lifestyle of a Trader

If you choose a profession as a trader, that means you must be ready to work up to 12 hours a day. This profession in America is a different lifestyle compared to most professions. Financial markets will open at 5 am on Mondays Australian time and close at 5 pm Friday in New York time. Traders in New York who want to trade on European and Asian markets must work at least 4 pm until late at night. With such working hours, it is certainly not too surprising that a trader gets paid big. But do not worry because on weekends you can still take a vacation. Follow fxtrade 777 for updates on world economic news.

Using the Means Under Control

Forex trading is not a profit based on premonitions and predictions without a logical basis. Use technical analysis and forex fundamentals tradegbp.com as a means to win your trading for profit.

Acknowledge the Mistake

If at any time you experience a failure in the transaction, do not become emotional. Instead, learn the error to keep it from happening again and be heartened to admit that you did make a mistake.

Stay Consistent with the Plans Made

Make a good plan before making an entry and make a commitment to always consistently implement the plan on your trading. You can choose to trade on the basis of fundamental or technical analysis. Maybe useful!