What's the difference between part-time and full-time trading? - Page 2
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  1. #11
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    Part time traders are smart enough than the full time traders as they keep their other options open while the full time trades risk it all by relying only on the Forex Trading, which is very much risky.

  2. #12
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    Trading part time in the forex is now very simplified. You can even duplicate trades of expert traders or simply look to EAs for signals.

  3. #13
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    Quote Originally Posted by SophisticSyllabusSnail View Post
    I would say full-time is when you do nothing as trading every day and earn enough money so you needn't do anything else. -and part time is having a job and trade in your free time (in hope) to make some extra money
    Simple answer but the right one, it doesn't matter when you do it or how do it. As long as you don't do any other thing aside trading, then you are a full time trader!

  4. #14
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    I think it is better to trade part time, this way you could do some other jobs too and earn an extra livings.

  5. #15
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    when your trading frequency and time is limited to your spare times and you do not depend on trading for your main sources of income, you are a part time trader but when you make it an integral part of your business it becomes full time trading.

  6. #16
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    You can only make it full time, when you have enough investments to back you up in the time when you lose, and that is the only way to do it full time, else you could do part time anytime and achieve success.

  7. #17
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    Quote Originally Posted by Whack Attack View Post
    You can only make it full time, when you have enough investments to back you up in the time when you lose

    Alternatively, you could understand risk-management and position-sizing, and not need "investments to back you up".

    It's downright bizarre to tell someone that they can trade full-time only by having other investments, and that that's the only way to do it!

    Not only do I know from my own experience that it isn't true, but it also carries a connotation of needing something else to support your trading, which is weird, given that people with the intention of trading full-time are obviously doing so because they already know it provides them with a secure income, not because it's something that's going to lose their money.

  8. #18
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    Quote Originally Posted by lexys View Post
    Alternatively, you could understand risk-management and position-sizing, and not need "investments to back you up".

    It's downright bizarre to tell someone that they can trade full-time only by having other investments, and that that's the only way to do it!

    Not only do I know from my own experience that it isn't true, but it also carries a connotation of needing something else to support your trading, which is weird, given that people with the intention of trading full-time are obviously doing so because they already know it provides them with a secure income, not because it's something that's going to lose their money.
    I disagree in a way, from a perspective of running my own business: it is extremely risky to assume that a new business will just be profitable all the time, so when accidents come your way (like a dip in income (which will come no matter how good you think you are) or illness) you must have another source of income or insurance against going broke. I cannot stress this enough, how one cannot treat trading any differently than running any other business. And in running a new business, lots of people rely on their partner or family to back them up...I did so too, because when you give up a salaried job to go solo, whether it is to run your own ice cream shop or to trade e.minis from home, it is insane to have some kind of pride and assume you will never hit a bad patch.

  9. #19
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    Quote Originally Posted by PipMeHappy View Post
    when you give up a salaried job to go solo, whether it is to run your own ice cream shop or to trade e.minis from home, it is insane to have some kind of pride and assume you will never hit a bad patch.

    I agree with that, for sure ...

    The point I was trying to make (but not very articulately! ) about risk-management is that you ought to take that reality into account before you start trading full-time, know that you'll hit some bad patches, and have enough trading capital to budget for that without needing to rely on "other investments" to subsidise your trading. I was kind of having a dig at undercapitalisation.

    I think you're making the point that you'll need something else to support you, during a bad patch, and of course that's a great point and a perfectly valid way of looking at it ... so I take your point, of course.

  10. #20
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    Quote Originally Posted by lexys View Post
    I agree with that, for sure ...

    The point I was trying to make (but not very articulately! ) about risk-management is that you ought to take that reality into account before you start trading full-time, know that you'll hit some bad patches, and have enough trading capital to budget for that without needing to rely on "other investments" to subsidise your trading. I was kind of having a dig at undercapitalisation.

    I think you're making the point that you'll need something else to support you, during a bad patch, and of course that's a great point and a perfectly valid way of looking at it ... so I take your point, of course.
    Very important point, Lexy, indeed that would cut off a lot of retail trading because it would limit the number of people going into it with insufficient capital... As you say, one should capitalise before going into it (I say that to myself too)... It is like opening a shop with insufficient capital: even if you could do it, you would probably not survive losing periods and go under, so the moral of the story is: even with all the right training and ideas about trading, just like in any other business, you will not survive it if you have insufficient capital (or you will make such small returns that you will soon realise it is pointless).

    Thanks for clarifying, Lexy... sorry if I misunderstood you.

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