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Trading for a living is a dream many traders work towards. Be patient and earn it! Goodluck.
Trading for a living is a dream many traders work towards. Be patient and earn it! Goodluck.
4. Can you handle weeks/months in drawdown? Do you have a safety net capital to rely on in the meantime to pay your bills?
5. Do you have any alternative ways to generate consistent income, a second household income, etc. How will you ends meet during drawdowns?
4. Can you handle weeks/months in drawdown? Do you have a safety net capital to rely on in the meantime to pay your bills?
5. Do you have any alternative ways to generate consistent income, a second household income, etc. How will you ends meet during drawdowns?
Example: You need $4000 per month and can average 2% per month. Overtime. 4000 / 0.2 = $200,000 In trading capital. In my personal opinion, you should be overly conservative with these calculations.
Example: You need $4000 per month and can average 2% per month. Overtime. 4000 / 0.2 = $200,000 In trading capital. In my personal opinion, you should be overly conservative with these calculations.
1. How much do you need to comfortably live off of per month?
2. What percentage gain per month do you think you can reasonably average over time?
3. Divide the 1st by the 2nd number. That's how much capital you need first.
1. How much do you need to comfortably live off of per month?
2. What percentage gain per month do you think you can reasonably average over time?
3. Divide the 1st by the 2nd number. That's how much capital you need first.