Can you earn money by trading?

Trading is a way to make an income. As such, good trading results require time and effort. Good traders are patient, they don’t let their emotions get in the way and keep learning to improve. They write down everything they do to see what works for them and what doesn’t. The goal is to make money over time through smart trading decisions based on the market situation.

How do you become a succesful trader?

The answer to this is no secret. Trading is not only about predicting where the price will go but also about proper risk management and mindset. You’ll need to keep all these factors in mind throughout your trading journey.

Will you be good at trading?

Ask yourself if you are:

- Persistent

- Able to adapt to any situation

- Able to analyze what you see and draw conclusions

- Able to control your emotions and make rational decisions

- Honest with yourself about your performance

If you answered “Yes” to any of these questions, go ahead and try trading. Luckily, there’s a safe way to do it. First, you can see how everything works using a demo account. It allows you to trade with virtual funds and assess your trading abilities and the platform itself. Second, you can start trading on a live account with a small deposit and gain real experience without big investments.

Next

In the next lesson, you’ll learn how to determine the amount you can spend on trading.