I love trading, especially Forex Trading! Before I was a trader I had a job that had very limited career prospects and it was a job that I honestly did not enjoy, now I have the opposite - a job that I love and the potential to earn as much I like! This post is dedicated to listing the reasons why I think Forex trading is the ultimate career. As you read my reasoning please don't misunderstand me, it took a lot of hard work and commitment to become the trader I am today. Trading Forex has not be an easy journey but it has been well worth it.
Why I love Forex Trading #1 - The Daily Commute
My last "office" job before I decided to become a Forex trader often required a 2 hour commute. I remember spending almost all of my time working or commuting to work. I also remember my Wife caring for our eldest son while being heavily pregnant with our 2nd son, I would get home so late and she would be exhausted! It is true that there is opportunity to be productive while commuting (listening to books and talking to family on hands-free are a couple of examples) but losing precious family time is not what I wanted. Now my commute consists of taking about 15 steps and opening 2 doors. My 15 second commute is so much better than my 2 hour commute.
There are also other great benefits about working from home, I have my own dress code, I choose when to take breaks and I can watch films, listen to music or surf the internet while I trade. I love my job!
Why I love Forex Trading #2 - An Uncapped Earning Potential
Many Forex traders lose money, this is why I always strongly suggest trading demo for as long as possible. I have had too many students that lost far too much before they came across my services, losing vast amounts of cash does not need to happen! Once you become profitable in your Forex trading you have an uncapped earning potential, the more you have the more you make. Each year I earn more, I have had a "pay rise" each year of my trading career.
Why I love Forex Trading #3 - There is Great Satisfaction in Trading
As time passes trading becomes much less emotional for me, losses don't bother me at all and I rarely get over excited about profitable trades but I do finish my working week and end each month with a great amount of satisfaction. If feels so great to beat the odds and to be successful in something that you love and enjoy. Have you ever set and achieved a goal or had a dream come true? The feeling from these achievements is a feeling I have often... I am a successful trader, I am living my dream!
Why I love Forex Trading #4 - Work as Much or as Little as you Like
Unlike other financial markets, the Forex market is open 24 hours a day. If you want to trade in the early hours of the morning, you can do that, if you want to trade on an evening, you can do that too. There are many profitable Forex traders that work 20-30 minutes a day, they trade higher time frames and their time commitment to trading is minimal. Other traders prefer being in front of the charts, the choice is yours!
There are only very few careers that can be so tailored to suit your needs and wants, you can decide your working hours and your income. Both are obviously variable to how much cash you have, how much you are willing to risk and how aggressive how trading strategy is.
Why I love Forex Trading #5 - Start Trading with a Small Amount
Only the Forex markets allow traders to trade with small sized accounts, some accounts as little as £/$10. Obviously your returns are going to be tiny but it is possible. I actually started my trading career on the stock market, do you know how much money you need to effectively trade stocks and shares? How about futures? Options? Far too much for most newbies. Forex brokers offer high leverage and derivative products (spread bets, CFDs) which allow even the smallest accounts to take positions and trade Forex. If you want to be a part-time trader and your funds are very limited, the Forex markets are your best option.
Why I love Forex Trading #6 - An Online Community of Forex Traders
The internet is buzzing with Forex fever. No other market has so much information and such an online community, you obviously need to be careful as some of this information is not useful at all but you should never feel like there is nothing to research and learn.
Loneliness is a daily obstacle for some Forex traders, having an online community is a great way to socialise, share ideas and developing your trading skills. In recent years I have attended Forex trading and investor events, fairs and seminars, it's great to share what you love with others.