Is it possible to combine trading with main job or bussiness?

Hello, dear membes of Babypips forum!

I’m considering to start trading Forex and I have a lot of doubts about this.

I’m not a young man and I have my own business and family which is need time to devote.

Are there a lot of you combine Forex with main job? How did you learn trading and how was your first time on Forex? What can you advise to people who want to combine trading and main job like me?

When you achieve a sustainable growth for said time period with consistency only then you can rely on forex incomes.

Most members on this forum most likely combine forex with their main jobs as in…
Trading Forex as a hobby
Trading Forex as a secondary source of income.

Depending on the nature of you work combining your own business and trading can be difficult. For example, some people here only trade certain sessions or hours. Depending on where they are in the world this maybe before they go to work or after they go to work. Some people may not have to work on anything at home from their daily 9-5 so they are able to devout their full attention to trading. When you own your own business you are technically always on the clock and your day never ends. What you must try to do is find a balance between Family > business > Forex.

I currently combine my main job with the dependency of the Forex markets. I learn trading by using this forum and using the information I learn from How to dummies book and buying other books about technical and fundamental analysis. Then after found information about price action and candlestick patterns through the use of the web. Using all this information over many years of trial and error. I have found a strategy that currently works for me under the current market conditions.

I am 42 myself. Started in 2014 and in 2016 destroyed my first account of 3000 euros.
I work in an IT company, 8 hours at computer. I have internet access, and all it’s set up if needed.
I know people that put in $50000 and lost it all in the beginning. I wouldn’t start with that much if I were you.
Take care and good luck.

Many things are possible, but they aren’t easy to achieve. You should be aware that successful forex trading requires years of studying and practice. You won’t start making money overnight. You won’t start making consistent profits for a long, long time, especially if you don’t have much time to devote to learning. I am not saying these things to scare you, but I do think it’s good to go into this business with one’s eyes wide open.

Thank you, LvlOneTwenty for your example! I’m happy to see real people who combine work and Forex.

To find the balance between the trtading, family and main work is the hardest thing maybe! But I will try to reorganize my day schedule for this.

It was interesting to learn about how You study trading. Hope my attempts will be successful and I’ll find my strategie too!

Hi, Mihk! Thanks for sharing your expirience and thanks for concrete figures! I’m also 42) Now I now that this is not too late start trading in our age.

And thanks for caution about spending money)) This guy, who lost $50000, probably haven’t heard about risk management) It’s sad((

Yes, I understand that this will hard to achieve. But I just wanted to find real people who trade successfully. Such examples very inspire!)

They do, don’t they? It’s such a difficult thing to achieve and so few people manage to achieve it, but it is possible after all.

I certainly hope so. Because at 55, that is exactly my plan. But I will be starting with a 500 dollar binary options account, instead of forex, and go from there.

Before you commit to BO, or fx for that matter, make sure to do due diligence on your broker…post 5 here highlights some of the major pitfalls

http://forums.babypips.com/binary-options-and-futures/85172-im-going-steal-everything-you-have-post809317.html#post809317

And its worth checking out prospective brokers on the FCA’s Scamsmart website.

Good luck

It’s quite possible to combine a real job with trading on forex. Because one won’t be able to live off of the trading profit right away, and the bills have to be paid.

Binary options is a scam, don’t ever try it. If u want to try, go to casino. I’m combine my full time job with forex. I’m staying in singapore, so i able to trade all sessions from they open till they close, Japan, hong Kong, sydney, euro, landon, new york. When euro they open it only 2pm in singapore, London is 3pm sg time, and New York open is sg only 8pm. I’m 41 and I’m a taxi driver, my trading platform is mobile, n always with me in my taxi it on almost 12 hrs per day nonstop beside weekend. :slight_smile:

Since you are established on your own business so I would suggest you to take this trading job as your part time business initially! Yes, you need to learn 1st and learning is a lifelong process! You may know, lifelong learning is one of the most effective ways to deal with consistency! By the way, Forex trading is my main source of income, and I am not involved with any other profession!

I doing exactly the same for a good five years before I turned into a full time trader.

Below are some learning from my experience as a part time trader. Here is

What Works & How to make it work?

Its better to trade either equity - mid to large caps which are not as volatile as small caps and penny stocks. Here you can do swing or positional trades with a holding period of a few days to a week.
In derivatives you can do direction agnostic strategies, where you would need a major directional move to benefit from the trade, irrespective of which direction the market moves.
You may also want to subscribe to a reliable stock or derivatives adviser (Only if you don’t have a time tested strategy for yourself) ? Here the best way to know who is reliable is
They will not promise the moon to you
They would usually be marginally better than the index
They wont keep pushing trades to you everyday or based on a fixed time line - markets don’t give opportunities based on a calendar.
They would choose opportunity which have sufficient “Window to enter” - Most advisers would give you trades where, by the time you open your brokerage account the price would have moved due to volatility, never giving you the opportunity to enter
Trade Small - Don’t risk a lot. “A lot” here is a figure that you cant earn in a month or two outside of market.
Have system stop losses - Once the market opens - you can put both Sell orders and SL orders so that you can exit when you either of them hits.
Remember there are situations when SLs dont work.

Cool!!! Hope 1 fine day I can be full time also. Slowly built up my capital first