Forex trading is one of the most popular ways to make money online. It is a very lucrative option, and many people around the globe are considering it as a side hustle to supplement their income. While forex trading as a second income is a good choice, it can be more than a high-income career that provides success in all ways.
Many people wonder if forex trading can be taken up as a full-time career. The answer is yes, it can be a full-time job. To be considered a full-time career, anything must have the following three characteristics:
Essentials of Full-Time Job
Enough Working Hours : To consider anything as a full-time job, it must provide a minimum of 40 working hours each week. Forex trading is possible 24 hours a day x 5 days a week, making it comparable to any other full-time job.
Potential For Stable Income : To make any job your full-time job, it must have the potential to provide you with a stable and regular income throughout your career. Anything that provides occasional revenue or money once in a while, no matter how huge that income be, cannot be accepted as a full-time job. Contrary to common belief, forex trading provides a steady and predictable income to anyone who learns the basics properly and establishes solid trading habits.
Potential For Growth : Forex market is the world’s largest and most liquid market with a daily turnover of more than 6 trillion US Dollars. As a result, it has a lot of potential for individuals seeking consistent growth. Even if you do not have huge capital, but possess key skills at trading, you can become a proprietary trader for large business corporates.
Besides these, like any other career, forex trading has some distinct perks. This distinction is what attracts top talents to forex trading.
Unusual Benefits of Forex Career
You choose your shift . There are three types of shifts in full-time jobs, depending on the industry – morning shift, night shift and split shift. And deciding on a shift depends on many factors. However, in Forex, as the market is open 24 hours and you are your own boss, you can choose your own working hours. It does not even have to be an 8-hour shift as in other jobs. Once you have acquired sufficient skills and expertise, you can even choose to work only for 1 hour a day and still earn a decent income every month.
Use more than what you’ve. Yeah, that’s true. This is perhaps the only field where you can use more money than what you have in your account. It is called leveraging. In the Forex market, you obtain 1:500 leverage, which means that for every $1 worth of capital in your account, you get $500 to trade with.
However, a word of caution here – don’t be dazzled by these unique features. Like all other successful careers, building a full-time career in forex trading also demands a great deal of hard work, dedication, and self-discipline. Pause and reflect upon your talents and shortcomings and make sure this is the leap that you want to take in your career. To help you make a logical decision, some of the essentials required for making forex trading your full-time career are mentioned below.
Essential Pre-Requisites
High EQ : The forex market is very volatile; therefore, you must have a high degree of emotional balance to stay successful in this as a full-time job. Volatility brings with it opportunities as well as risks. If you possess good emotional quotient, then nothing in this world can prevent you from making forex trading a full-time lucrative career.
Professional Wisdom : To make forex trading a full-time job, you must possess “professional wisdom.” It is nothing more than detailed understanding of the market and trading tactics, along with the necessary intelligence to avoid shortcuts and gimmicks to earn rapid profits. A thorough professional training in the field is essential to take advantage of the changing global markets. In addition to that, you should commit yourself to learning and consistently applying good habits in trading.
To Sum It Up
In short, forex trading has what it takes to be taken up as a full-time career. And in fact, it has already begun to emerge as a viable career alternative for many traders. With the correct methods and market knowledge, it may be as lucrative and offer a steady income as any other high-income job.
