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The Complete Idiot's Guide to Foreign Currency Trading, 2nd Edition by Lita Epstein, Gary Tilkin

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Chapter 23
Setting Up Your Trading Business
In This Chapter
• Planning your business
• Office set-up
• Establishing inventory
• Taking profits
If you want to be successful as a trader, you have to start thinking of forex trading as a business rather than just an investment opportunity. When you’re ready to take your trading business seriously, you can also enjoy some tax benefits.
In this chapter, we talk about how to set up that business and how the tax code helps you offset gains.

Start by Developing a Business Plan

Now that you’ve learned the basics of forex trading, you need to make these critical decisions:

How much money do you want to risk?

We recommend that you start trading with no more than about 2 percent of your portfolio assets. ...

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