Trading as a career attracts most investors. At some point, a trader who is profitable will think that this may be the time to become a full time trader. Trading promises a life that is filled with freedom. If you can trade well, you can live and work anywhere in the world without the need to report to anyone, the need to manage anyone, and the ability to break away from routine. You have no boss, no customer, and no working schedule.
A good way to start is to begin devising a plan to pay off all your debts and to save enough money to live for at least 12 months without any income. The sooner you can clear your debts, the faster you will achieve financial independence. It will be challenging to begin a trading career when monthly bills and debt repayment are a constant lingering in your mind.
Successful traders make plenty of money from the market but are extremely careful with their money. Managing your personal finances well is the first crucial step as it provides you the necessary skill to manage your trading account in the same manner. A successful trader will always approach the market with a clear rational mind for maximum gains while minimizing risk and losses.
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