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LESSON: Living expenses account

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[op_liveeditor_element data-style=””][text_block style=”style_1.png” align=”left” font_size=”16″ font_font=”Montserrat” font_color=”%237e7e7e”]The living expenses account is used for paying bills, mortgage and food etc, and has three months worth of money.

When this runs out the account is replenished and it starts all over again and using this method I can keep my trading and living expenses separate and also not need to dip into my trading account every week for money. This is important and as well as

Depending on how much is in my trading account at the time when I am making withdrawal to my living expense account I may also withdraw money from the trading account and add to the savings or replenishment account. I only hold 3-5 trades worth of money in the trading account and then rest is placed elsewhere.

The best advice I could give to any trader who want to trade full-time is make sure you have a loaded savings of at least six months living expenses that will pay the bills so you can trade.

The best way to know if you are ready to become a full-time trader is to actually do it and live from your trading, BUT whilst still at your job and not using any of your jobs wages.[/text_block][/op_liveeditor_element]