Hi yall! What kind of day job is best suited for forex trading on the side? I’m just looking for other jobs I could do but still wanna spend enough time on forex. Thanks.
probably some type of office/desk job…one where you’re able to still look at the charts like on the computer or on your phone.
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It doesn’t matter. Just make sure you have 3-4 free hours a day and this should be sufficient for making progress in learning, understanding and applying knowledge. Start from technical analysis, backtesting using MT4 and also keep an eye on fundamentals (i.e. possible events risk, market sentiments)
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You don’t have to trade intra-day, and it will probably be less costly if you can get involved in long-term trading. It will also fit in well round your day job, as you will be able to set entry orders, stop-losses and take profit orders for the next day and then check back 24 hours later. Long-term trading in this way also inherently pushes you towards trend-following, which is a known lower risk trading style.
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You cant trade forex on the side. Remember hobbies cost you money. Do as many jobs as possible until you have enough capital to trade full time.
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I’ve just posted you can trade forex on the side. And I have. And I am.
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I’m sure you do but what’s the point. You must not make enough to give up your job.
That’s not the only criterion for trading, whatever style is chosen.
Anyway, after I had posted that something was possible, you posted that it was impossible, and I replied that I am doing it, which obviously means therefore that you are wrong and I am right - it is possible.
Whether it fits @bigboybrad12’s requirements is his decision.
However, almost all new traders who start through daytrading will not survive. You can say you are making money daytrading and that’s fine, but that doesn’t disprove the stats.
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you keep working the job until your trading profits replace your job’s income. Plenty of people work a job and trade at the same time. I’m doing it now, and my end goal is to ultimately is to go full time. It’s all a process
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you can do whatever you want to do, remember that. Don’t let anyone’s opinion steer you away from your goal. You got this 
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If you don’t want to trade full time in a firm then consider implementing your strategy in advance through a complex rule-order system. All it takes is a 30 minute check-up into an account to maintain.
The intra-day trading is a time consuming responsibility.
When he asked the question I presumed he was trying to become successful. You can do a lot of things, you can also trade 10% per position. It doesnt make it right. I’m not going to give advice of what you can literally do. I’ll advise how to become consistently profitable. Trading on the side is not the way to do it. If you’re asking CAN it be done then like above anything can be done but it doesnt make it right nor does it make it the correct way to become a full time trader. If you’re trading for fun then yeah do what you want. Sorry maybe I shouldve asked what his end goal is.
I never meant you cant do it. What I mean is it is the wrong way to go about things. You cant treat trading as a hobby or a side thing. And I would never advise someone they can do what they want. The whole point of us is to help others not make the same mistakes. Not let them make them too and waste a lot of time.
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Professional full time traders spend nearly 10 hours per day on trading.Thus, if you have another full time job, it would be almost impossible to dedicate enough time to trading to become full time trader in future. That is why if you need to have another full time job to have main source of income covering your daily needs, it would be better to think about swing/mid-term trading. It requires a bit less time (only a bit, because despite you spend less time trading, you will have to perform in-depth market analysis, that is very time-consuming), but it gives unique working time flexibility. Being a swing trader, you do not need to watch the charts for the whole day, you can analyze the market and search for ideas when you have free time (after work, for example). Active daytrading could not be suitable for anyone having full time job. Just imagine that your boss gives you urgent task that should be done ASAP while you have an opened position you need to watch. This would create enormous psychological pressure affecting both trading and your main job. That is why to my mind it would be much better to start with swing trading while dedicating most of the time to your main job to create inital capital for trading.
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Almost all new traders start out daytrading. Almost all of them fail. There is no point new traders taking this route when it is such high risk that most of them will wipe out their accounts within a few months.
I haven’t seen any data that shows that daytrading is financially more rewarding than long-term trading, can you maybe point to some?
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Some people have to work a job while they learn how to trade. I never said that people should treat trading as a hobby or side hustle. The ultimate goal should be to become a full time trader, but you have to be willing to make the sacrifices in order to get there. Like I work full time, Mon - Fri,but best believe I’m grinding while on the job, and off the job, having sleepless nights on the regular, and consistently being on the charts. I know what it takes to get there and I’m enjoying the journey. But, you’re right,it’s all about helping others and I was just saying that you can work a job and trade at the same time, as long as your goal is to eventually go full time
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Find a job (or business / occupation) that you enjoy, that pays the bills and then trade around your job.
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Unemployment!! That’s how I got launched. Once again out of work, I became very determined to excel at trading, and dedicated all of my waking hours to learning as much as possible about the currency markets, reading chart patterns, indicators, economic calenders, etc. This became my full time job.
My new “profession” isn’t paying like my last profession, (design engineer), but I answer to no one but myself, never deal with San Diego’s hellish traffic and the stress that brings, and I can take time off without a hassle from management.
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I’m just getting started with forex but have been trading crypto for a couple of years. The reason I’m doing it is because it’s compatible with my job. I am an IT consultant and unless there’s a big project going on that requires my uninterrupted attention, which has happened twice in the last two years and taken up about 5 months in total, I spend 8 hours a day just sitting at my desk browsing reddit, reading news and getting paid.
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You can have any job in the world and still trade forex. It all depends on your way of trading.
I do architectural Visualization and sell insurance full time and I still trade forex. Here is how I do trade, I trade only EurUsd market on a daily time frame. I check the market for only 5 minutes once in a day at the close of the market. When I look at the chart, I know what I am looking for, so it doesn’t take me more than 10 secs to detect it and after detecting I use the Risk/Reward Visualizer tool to know where my stop loss level with be, I use that to calculate the appropriate lot size for the trade and I trade, afterwards, I set my stop loss level and take profit level. Close the app and wall away till the next 24hrs to check again for only 5 minutes.
Spending only 5 minutes to trade forex daily means you can have other jobs and still trade well.
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