What Does it Take to Build a Full Time Income From Trading?
You have probably seen a number of your friends talking about trading during the covid lockdowns of 2020 and 2021 and saw how they replaced their full time income with a trading income from home and maybe you’ve asked yourself “Why them and Why Not Me?”
If you’ve been trying and stuggling while others are achieving their trading goals, generally speaking, there are at least 4 actions they have taken that has made the difference between staying where they were and has helped them build momentum in their trading business…
They made a conscious decision to make building an income in their trading a PRIORITY, rather than just an option.
Either due to impending loss of a job, or just being fed up with not having the lifestyle they want beyond the point of accepting it any more, they stopped letting other things get in the way and decided to be SERIOUS about making an income.
And it may not have meant putting a LOT of extra time into this, more it has been a catalyst to do what they know it takes to get there without making any excuses any more.
They studied their mehtod and read books, watched videos, participated in Trading Teams, participated in programs of one on one coaching, completed their business plans, reviewed their trades, took notes, asked questions (not to find a problem, but to find a SOLUTION), spoke to other Traders who had acheived what they want to achieved about what they did (HINT: read the first couple of lines of this dot point) and they follolwed their Trading Method to the letter and learned from their losses.
They did that little bit extra that it takes go from ordinary to extraordinary.
The read the recommended books, (e.g. Trading in the Zone), dealt with the mindset challenges by accepting that sometimes we have the best intentions, but we know we get impatient, indecisive, arrogrant and then we get a negative trade. And trade by trade they worked on that to become professional in their trading.
They had an open honest coaching call with me where we talked about their results, the lessons they’ve learned, how they’re working through their challenges and their notes in their Trade Check Up Sheets have shown that they can see the Market as a Professional Trader.
They have shown the discipline, understanding and patience to wait until they have a valid trade entry.
YOU have the capacity to be successful in your trading venture and work through your Compounding and Growth Phases to be earning the $15K, $18K and more that many Traders are within the next 4 to 6 months maximum.
What does it take?
Make this a Priority (not over and above your family, but FOR Your Family and their Future) not just an option
Do what the other Profitable Traders did (see dot points above)
Plan for it (use the new Business Plans)
Act Decisively and with Purpose.
For more trading term general definitions, visit our A to Z of Forex Trading
To look at these concepts in action, please visit our sister site, Latest Forex Rates
What to do Next
If you have more questions or need further guidance, don’t hesitate to reach out to us at The Trading Coach International for personalized coaching and support.
If you would like to learn more about trading forex profitably and what steps you can take next to get on the right track to build your Lifestyle Income From Trading, you can book an no obligation, Free Strategy Call with our Lead Trading Coach by clicking on THIS LINK
The information, strategies, techniques and approaches discussed in this article are for general information purposes only. The Trading Coach International does not necessarily use, promote nor recommend any strategies discussed in this article. The information in this article may not be suitable for your personal financial circumstances and you should seek independent qualified financial advice before implementing any financial strategy. The Trading Coach International is not a financial advisor and does not have AFS registration.