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Can Forex Trading be a Full-Time Job?

In view of the fact that the majority of small Forex traders fail to make a living from trading currencies, it is understandable that you might wonder if it is possible to do so.

The short answer is YES! You can absolutely earn a steady income through Forex trading.
However, many new traders underestimate how much commitment it takes to be successful. Their level of commitment isn’t high enough to become a pro Forex trader. Instead of investing their time and energy in developing patience and discipline, acquiring the skills and knowledge that would enable them to be consistently profitable, they put their efforts into developing a positive attitude, a gambling attitude in reality.

As a result, they often lose more money than they should, making wild trades and even tend to give up on the slightest mistake or challenge, lacking the patience and discipline to lead a successful Forex lifestyle.

The goal of a successful trader is to make the best trades, money is secondary.
Alexander Elder
Maintaining a healthy Forex lifestyle is one key factor that contributes to your long-term success as a full-time Forex trader. No matter whether you trade part-time or full-time, developing a well-balanced Forex lifestyle should be your top priority.

As soon as you nail that, your financial success will follow.

What is it like to be a self-employed Forex Trader?

Practically, many people mistakenly assume that a full-time trader spends as much time on their trading activities as they would on a full-time job. However, the truth is that a self-employed pro Forex trader usually has a pretty comfortable lifestyle when compared to someone who works a traditional 9-5 job. The vast majority of them do not even spend that much time trading. They call themselves “full-time Forex traders” because their trading activities provide them with income and a means of subsistence.

Some full-time Forex traders even have a separate office setup at home in order to maintain a productive Forex lifestyle. It’s not necessary for them to wear suits and sit in traffic. While it’s nice to have a dedicated workspace or laptop for it, it’s even more crucial that a pro Forex trader stays comfortable and relaxed enough to focus on the markets instead of worrying about trivial details that have no bearing on the trade.

Think of your full-time Forex lifestyle like a Business!​

It’s true that making a fortune through Forex trading is possible, but there is also the risk of high returns due to the leverage associated with this type of trading. Those who devote more time to trading will find that trading is naturally addictive and induces greed and obsessive behaviors, which are the greatest threats to your trading career. The best way to combat this, and be successful in your trading, is to treat it like a business.

When it comes to treating your trading as a business, discipline and risk management are crucial. It is important not to concentrate on the money, but rather on the markets and your strategy. Being greedy is one of the most important things to avoid in order to avoid trading beyond the rules and parameters of your risk management, holding onto losing trades too long, and not taking advantage of good profits. Consider losing and winning in terms of process rather than dollars, remove the money factor, and put more emphasis on the process.

Today’s younger generations are driven by new exciting earning opportunities in forex trading not just as traders but also as investors, Introducing brokers, Affiliate partners, Copy Trade Money managers, Local depositors, content creators, and even Forex influencers. The advantage of being a referral partner is that, unlike retail and e-commerce, which offer one-time commissions per code, forex commissions are lifetime percentages based on the affiliate’s referral traffic. As a result, establishing a Forex trading business is highly profitable in the long run. As a result of the retainer business model, forex IBs are guaranteed a steady income stream that will last a long run.

Here’s an ultimate guide on how Entrepreneurs can succeed in the Forex trading business not just as traders but also as investors, financial influencers, business partners, affiliates, and digital marketers.

Original Article: Forex lifestyle: What it takes to be a Pro Forex trader?
Disclaimer: This post is from Aximdaily and it is considered a marketing publication and does not constitute investment advice or research. Its content represents the general views of our editors and does not consider individual readers personal circumstances, investment experience, or current financial situation.
 

Lateral Thinking Forex

Well-known member
It is also probably worth mentioning that in order to make a regular income form trading forex, one would need an account balance of at least £50,000 - £100,000, otherwise it would not be possible to trade big enough lot sizes to produce a decent income and still grow or maintain the account balance.
 
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Hev_Leo26

Well-known member
It's a full time job for me, I certainly have a long way to go, but I decided to start trading since my kids are little and I didn't have a choice to go out and work. Trading is certainly one of the best options for my situation. However, I do get nervous when I see other people that are in a rush to quit their jobs and start trading from the beginning. It's definitely something I'd transition to over time in that scenario.
 

Lateral Thinking Forex

Well-known member
It's a full time job for me, I certainly have a long way to go, but I decided to start trading since my kids are little and I didn't have a choice to go out and work. Trading is certainly one of the best options for my situation. However, I do get nervous when I see other people that are in a rush to quit their jobs and start trading from the beginning. It's definitely something I'd transition to over time in that scenario.

I'll second that. I'm on my way to trading full-time but I still need to rely on my other business for regular income at the moment, while I continue to compound trading profits. Been trading forex 7 years now and made every mistake possible until I became consistently profitable.

Trading full-time is definitely something to transition into, as you quite rightly say... and you need a fair amount of capital to be able to live off monthly profits and still grow the account.

All the best,

Dan.
 

Textuary

Member
The answer to that question is yes; you could do it as a full-time job. There are already a great number of professional traders engaging in this activity. You can also choose to follow along with them.
 
Trading is like any other job. So, why can’t it be full-time? Many traders live from trading. But as a newcomer, you should test the waters and trade only part-time. Based on their experience and exposure, they should make a decision afterwards.
 

Scalium

Member
Sure, there are many traders who have switched to full time trading. However, to reach that level of confidence, you as a trader need to have a regular income. For those who wish to quit their jobs, this is a great way of earning provided you understand the market sentiment.
 
Yes but it is highly risky. Only those who are experienced and make consistent profits should take this step. To trade full-time, though, requires a certain set of skills, including the ability to manage emotions and risk. Prioritise generating steady income first. After that, you can enrol full-time.
 

Runcinate

Member
Full-time trading is only for advanced traders who are skilled and know how to trade. For beginners, it is not safe to do part-time trading as it is risky.
 

Woolpack

Member
I believe that you can turn forex trading into a full-time job only if you are well-versed with the consequences and are prepared both mentally and financially for the results. If you have not traded before this, consider making a few trial trades to ensure that you are not doing anything that is beyond your understanding.
 
It is up to the trader to decide when he wants to trade forex and when not. You may be making some great income but it doesn’t mean that you keep making good money. You have to prepare yourself for the challenges and ups and downs to stay in the market for a long run.
 

WalletInvestor

Well-known member
Nice article. I agree it can be a full-time job, and treating it as a business is essential since a lot depends on your diligence and performance. Another important thing is to calculate how much you need/want to make and make sure you have enough starting capital and experience to make it work. It can take time to get to a level where you can trade full time.
 

Wavemeter

Active member
This is certainly a big decision to make. But it totally depends on the trader. But before you decide to be a full-time trader, it is important to consider all the perimeters. If you are confident that you will be able to make your living out of forex then you can go for it. Everything depends on how confident you are about the way you trade and what are the outcomes of your trade. Do a rational analysis and then take your decision.
 

Scarious

Member
There are people who make a living out of forex but that’s tough to achieve. It takes years to make consistent income from forex. Forex won’t make you profitable immediately. It takes a long time to set up and learn. Every day is a new day, and your profits and losses will fluctuate dramatically at first. You can expect a certain level of consistency as you develop a risk management approach that works for you. Until you have an expertise, continue as a part-time trader.
 

Polakandil

Well-known member
Forex trading remains risky, one tip from Rainer Teo, an independent trader state better you have a job to cover daily needs, or at least have a backup for 12 months of saving. The reason is if treated as full-time, pressure to look target is higher, while trading is different compared to traditional business, when emotion comes to play, bad decision maybe lead to bad trades.
 

Exclusion

Member
Yes, Forex trading can be a full-time job if you want to earn a living from it. If you are really into Forex trading and want to turn it into your career, then yes, you can do this. Just like any other business, it takes effort, time and money. It is not an easy job though therefore, you will need to put in a lot of hard work. You will also need a family or friends who support you. This includes people you trust who have a similar passion and interests to you. I am doing it as a part time job, earning a good amount and being happy as well.
 
That’ll depend on you. If you are consistently making money from trading and earning a respectable income then you might pursue forex as a full-time career. If the income is not steady then you should continue to rely on an active source of income while trading part-time.
 
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