Why many forex traders keep their passion part-time
To Be or Not to Be a Part-timer
This may be a surprise to anyone who hasn’t spent a lot of time in the trading – this world is a profession filled with people who only work part-time. Well, part-time on their trading.
Most traders trade part-time while busy other things. These things include full-time jobs that guarantee security and make sure that the rent/mortgage is paid on time. It’s rare that you’ll find someone who trades exclusively full-time.
It’s a Risky Business
If you rely on your monthly income via trading, you’re more likely to end up with major stress overload. There are highs and lows, and sure no guarantees of income from one month to the next. This is why traders rely on other, more secure careers alongside trading.
It Can be Quite Boring, Too
Another important point is that a full-time job is not diverse. Generally, people prefer to do more than only one task but having one task to attend to day in and day out can be quite mundane. Like with any job, most of us want variation in our daily activities. One day could be devoted to administration and the next might be devoted to the practical side of whatever you’re working on.
For traders, this may become conflicting. Since good trading often boils down to the repetitive execution of a successful and well-crafted plan and strategy. Variations in the trading day can lead to devastating disruptions in the flow of a dedicated trader. One small tweak here or there can fundamentally alter a trader’s success. Therefore, many opt to trade part-time in order to fill the rest of their time with diverse tasks or roles to break their monotonous trading.
It All Boils Down to Hard Work
The bottom line is that whether you want to trade part-time or full-time, you will need to invest hours in order to master the work. It takes incredible concentration and the strictest discipline. This proves even trickier when you can’t or don’t want to devote 100% of your time to trading.
Finding your routine and moving along the learning curve is challenging, but once you have it -you’ll own the winning formula. There on, you’ll be able to enjoy both worlds: a secure income from your daily career and the excitement of trading professionally, yet only part-time.
If you nail this, whatever you earn while trading is merely a bonus and comes with far less pressure than it would have if you were to rely on this for survival.
But remember not to slack, as it’s called “part-time”. You’ll still need to work incredibly hard in order to make this dream a reality.