How many of you have thought about trading forex full time? Do you think it would be easier than having a normal job? Let’s dive a little deeper.
It surely is a lofty ambition that every trader has at least considered, however it’s far from easy to achieve. It’s the idea of that extra piece of freedom that just can’t be reached in a regular full-time job that makes people think it’s easy to make the transition. Many who think that just a bit of Forex knowledge is enough to become a full time trader, need to face a confronting reality. It’s hard. Very hard. Trading full time is one of the most challenging occupations when compared to many other full time jobs. So why is it so hard?
See, with more common careers, you go to university or take an apprenticeship, study, read specialised textbooks or receive training, and after some time you’re qualified. In many jobs, there’s almost a ladder, so to speak, for your success. All you have to do is continue to move forward and you’ll climb the ladder with experience. This most certainly isn’t the case when it comes to trading the Forex market, or any market for that matter. Of course there are articles and courses that you can take, but the Forex trading is unpredictable in its very nature, and there’s no single, fixed method to make money.
Full time Forex trading depends on so many external factors that are 100% out of our control, and rely purely on experience. This is unlike most tertiary occupations or trades. Most of those jobs have a clear structure. As a trader, you face risk every day, and you never know what to expect the next day, or even within the next hour.
I would say the toughest part of being a full time Forex trader is that income does not come on a regular basis, nor is it guaranteed. You could probably even argue that you’ll lose more than you’ll make. So is it worth the blood, sweat and tears of spending countless hours accumulating the experience required just to give full time trading a go with no guarantee of consistent income? I’d say if you’re willing to put the effort in and learn Forex, just to give it a go, then absolutely. What’s the worst that could happen? You have to get a normal job?
Source: Vantage FX Blog