hello to all, hope you all enjoying your New year . Is it good to make trading as a primary career choice. is it risky for my future ? should i initially make it a part time work. please suggest.
Is it good to make trading as primary career choice?
- Thread starter grac110
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Once you have achieved competence in trading a couple setups, there is no reason to stay part time.
Somehow you will have to test your skills and satisfy yourself as to your ability.
Somehow you will have to test your skills and satisfy yourself as to your ability.
Unless you do not have a huge starting capital, I would suggest first getting a steady job and then venture into Forex trading. FX is risky - doing it without a proper money cushion may turn disastrous.
If any trader already able treat forex as primary business, it's mean they already have good knowledge and also experience, but they also already have high confidence to treat forex as main business as source of income, but they also already understand with the irsk that involved in forex business.
although forex as reliable business as source of income, but as trader also need consider with risk appetite in forex trading which this is also risky business, first to remember is also about these risk, as trader need to manage account with prpper risk management beause not always the market will easy to analyzed.
Thanks everyone. i think i should make not make it primary creer choice now, first of all i will do the research and observe others and then start growing in trading slowly slowly as we all know slow and steady wins the race.
Yes, making trading your primary career choice is a good idea but it's risky too. Indeed, trading has a high profit potential, but like in any other profession, you have to put a lot of efforts in order to make profits from trading. Before making it your primary career choice, do a lot of research regarding trading markets, understand every aspect of stock markets, market psychology, factors affecting these markets. Go for a demo account to test live trading environment, this will help you to make your choice more easily. But beware if you are making profit in a demo account and taking a decision to opt trading as career so think again because in a live account it may not be possible as you will invest your real money and emotions may affect your trading. So think from every angle before making a choice to opt trading as a primary career.
It's not impossible, but it's not easy. Forex trading is volatile and unpredictable, so I would not want to bet my sole income on this. However, it is an income source that can be used to build investment in more stable areas, such as property, shares, or managed trusts, if you have the discipline to withdraw profits at regular intervals. That is, if you make $10,000 on a trade, at least withdraw $5,000 and put it somewhere safe where it can still grow. If at some point in the future you blow your Forex account, at least you will have something to show for your efforts!
If it's what you want... If it's what you can afford, go on. But better to have some plan B that can be used in case plan A fails. I don't doubt in your abilities but who knows what can happen... black swans or smth like this 🙂
It took me quite a long time to come to a decision that I want to be a trader with no additional jobs.
So, I wish you all the best on Forex!
It took me quite a long time to come to a decision that I want to be a trader with no additional jobs.
So, I wish you all the best on Forex!
Well it depends upon person to person. If you wish to adopt trading as your primary career you sure can. But you need to be dedicated enough and should be well versed with trading basics. Know how to manage your risk and emotions efficiently. Forex indeed has a lot of potential but there’s also a cost for it. If all such factors are favorable to you then you make trading your primary career.
Absolutely right! A person should adopt trading as his primary career only if he has that zeal and dedication to succeed and become a successful trader.
Well, it's totally up to you. Many people trade on Forex while having a steady job because they treat it rather like a hobby. But if you have enough experience, passion and confidence to choose trading as your primary career choice, then you should definitely go for it. Just make sure you understand the risks and have a plan B!
Hi,
For every job and business, we need knowledge and source to make happen. So we have to decide whether we have everything to start trading or not. Forex trading is not different from that. So this is not just a game or anything that we can do in front of electronic gadgets.
For every job and business, we need knowledge and source to make happen. So we have to decide whether we have everything to start trading or not. Forex trading is not different from that. So this is not just a game or anything that we can do in front of electronic gadgets.
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