COACHING
FIVE STEPS TO BECOMING A PROFESSIONAL FUND TRADER
FX
Many traders dream of becoming proficient enough in the markets to be able to work from home and provide themselves with a consistent income. My dream was to trade for a hedge fund… The only problem was that I didn’t have any Finance related qualifications and I certainly didn’t work for a bank or investment firm, so the path to my goal was sure to be an interesting one, and I wasn’t disappointed…
This article is a short introduction to the process of becoming a fund trader and trading professionally for clients, specifically if you have no prior background in the industry. Everything here is based on my own personal experience of making this same journey.
The Strategy
Te first stage for anyone with this kind of goal is to first of all ensure their trading is in order, and this means learning methods and concepts until you find a strategy that you feel comfortable with and is going to fit
in with your lifestyle, rather than the other way around.
I have met countless traders that find a trading system that sees them staying up through the night trying to trade, when this kind of behaviour is simply unsustainable over time.
Perhaps the most important element of the strategy stage is that of testing and proving the strategy before trading it live on real funds. This stage is crucial because it helps to eliminate the common killer of trading accounts, switching, when a trader trades
FX TRADER MAGAZINE January - March 2012 49
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