Can Trading Replace My Day Job?

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Can Trading Replace My Day Job?


Firstly, to be clear the statements made within this blog post are our collective opinions based on our personal experience and the results we have had as well as our clients. We strongly believe that all the following information and statements will give you the most truthful and transparent answers to the above question. 

The Truth:

The truth of this question is that it depends.

It depends on the commitment you have to learning the methodology of trading, are you committed to put in the time to learn the craft and are you determined enough to go through the failure and emotional turmoil and come out the other side.

Due to the earning capacity of trading Forex, commodities, stocks, crypto etc… being limitless it is a possibility that trading full time could replace you day job. However, there is a reason that 90% of traders fail and only 10% are able to trade earning consistent profits.

You need to be like the successful 10%.

“It Is A Marathon, Not A Sprint”:

Many people who are new to trading, take one course, read a couple of books, or watch a few trading YouTube videos and then think they can trade which ultimately leads to failure. It is crucial to remember it is a marathon not a sprint. No matter your experience there is always something to learn; you can never spend too long researching, planning, and learning. If you are going to pursue trading as a full-time occupation, keep your day job and begin learning on evenings and weekends, find a good mentor or a good selection of courses to take, build your funds and then begin practicing on a demo account for at least 3 weeks using a variety of indicators and strategies to practice.

When you move onto a live account invest a couple of hundred pounds or even less again to practice dealing with the emotions which surface when you see the negatives and you take the loss. If you begin taking excessive losses DO NOT CHASE IT.

Stop, Reflect, Improve, Try Again.

The only person you are competing with is yourself; there is no rush so take your time and be patient. You need to have realistic expectations of the time it will take, it could be weeks, months, or it could be years; but if you are committed and dedicated you will be fine.

To Summarise:

It is possible to make trading your full-time occupation; but you need to remember the above points mentioned; do not rush. Remember to learn as much as possible, practice, then implement using a small investment. As your confidence and success grows so will your investment and your overall success.

Thank You For Reading

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