Forex trading has became so popular that there are groups of new traders entering the field looking for extra income that can either serve as a boost to their family income or help them to dump their current day job. Conversely, there are a large number of new traders who quit trading after being wiped out of their capital within the first few weeks of trading.

So is it possible for anyone to trade forex for a living?

I have been trading forex for a living for some time now and I seriously believe anyone who is willing to put in time to learn will be able to make it.

You will be able to trade forex for a living if you are able to understand the importance of the 2 forex trading tips that I am going to share with you below.

Here are 2 really important forex trading tips all traders must know:

1) Treat forex trading as a business. There is nothing more important than knowing this to be a successful forex trader. There is nothing more important than possessing this mindset that can help you to succeed in this area of forex trading. It is definitely something that you ought to spend some time to learn about in terms of strategies, money management and many more. The lack of knowledge and proper trading strategies is the main contributor to the failure of new traders joining forex trading.

Most new traders start trading with LIVE account without a proper strategy or trading plan on hand. This shows that most people never treat forex trading seriouly as a business. I personally face this problem when I started trading forex hoping to make a living from it but end up with a hugh losses.

With the loss of my initial capital, I decided to go into DEMO trading again to better fine tune my strategies and trading plan. It took me several months of fine tuning before I finally able to win consistently with my strategies. It is then the time where I switch back LIVE trading again.

2) The greedy mindset of traders is usually a killer mistake as it tends to lure traders to make early entry that get stop out pretty often. This is especially true when traders are getting ready to get out of their profiting trade when they find that they are making profit but slow to cut short their loss when they are making a loss.

This usually causes traders to have low risk reward ratio which will in turn requires you to make a few wins to balance a single loss and this is usually what depletes your capital.

If you often find yourselve getting into a trade too early without seeing the proper setup for a good trade, you are actually having the greed mentality that causes the failure of most traders. Actually, I have the "early entry symptom" when I first started trading currency and it has caused me to get into a trade before I observe the setup that I am suppose to trade with. It has caused me a minimum of 50% of my initial capital. You may be able to get it right a few times by grabbing more profits but in the long run, you will find yourself losing more than you grab.

The above 2 forex trading advices are very important if you ever wanted to become a full time trader.