Are there anyone of you here who have thought of quitting your job
just to be free to trade forex or do other online trading?
I am considering of doing this but I would like to know from you first
and your advice.
Thanks.
Hello, well, that’s what I did in last december, quitted my job where I was an economic analyst for a multinartional forest company and decided to get a full time forex trader. My recomendation is that you have be sure you can earn the money enough from this activity, it’s perfectly possible but it’s better to have practiced the long time enough with a demo account.
In my case I’ve obtained mixed results but it’s ok, I think I can do it better but more study and practice is needed.
Regards from Argentina
My final goal is to trade full time. Right now I’m still in school and trading part time. I actually started making profits a few months ago after a year of trading, and I hope to have enough capital by the time I graduate to support myself, or even just work full time in my field of study and then build up a good capital base whereby I wont have to worry about making money.
But I’ve heard its really hard psychologically to go to full time trading because it is your only source of income and if you do a few big bad trades you might to have anything to eat that month 
so you gotta make sure to take risk management very seriously and to have enough money in the bank to last you at least 6 months worth of expenses
This thread was made in 2006 guys.
But the question is still fresh! 
This question is not only fresh but also very prominent query of each trading/forex forum.
Yes they can get repetitive!
There are people here who are part time and make a mess of it, losing lots of money, there are people here who are part time and make good money at it.
There will also be people who go full time and, for whatever reason, it does not work out for them, just as there are others who are full time and make good money at it.
The thread was started over six years ago and OP is now banned, but I would simply urge anyone reading not to be overly defined by others’ views, particularly those of a handful of random posters on a largely anonymous internet forum (and yes, I include myself in that!).
If someone feels that their results are good enough to have a go at going full time then try it, obviously it can work out fantastically well. If it does not work out, at least you tried.
But to be influenced in that decision by such a small number of responses would be lunacy.
Trading works so will, therefore, work as a full time option for some. For others it will be a costly lesson in their own limitations. It’s like most things in life!!!
So the threads repeat, but hopefully the ones like this don’t influence people’s decisions too much.
ST
yes. forex trading as a career in 2006 still same as a career in 2012 and in 2018.
Personally, I think if you focus and trade consistently, you can trade forex as a career
But before being a full time trader,keep in mind that the forex trading can sometimes be really boring.
I don’t know about anyone else, but personally I find forex to be everything BUT boring.
I don’t think I could ever find forex boring, its just such an intense world and it encompasses so much that I don’t think forex trading can be “just a thing I do on the side” but it has to be a complete lifestyle. so yeah, I don’t think its boring
Simple answer: NEVER!!! The opportunity cost of becoming a full time trader is WAY TOO HIGH!!! You will spend years till you become good at trading (strating from your very first day of demo trading). I’d say 5-8 years until you become comfortable and confident enough to quit your full time job and become a full time trader. And at first you won’t even make much money, only enough to support yourself. Getting rich off forex? - impossible! If you are lucky you will make 80000-150000 a year after 10 years of real trading MAYBE! And not to forget the ridiculous psychological stress you will have every single day!
Now think what you could be doing for the 5-8 years if you were not doing forex. You could be spending your time developing a REAL business plan very thoroughly and start your own business, which would be less riskier and bring you much more money. Within the same time you can easily be making 300000+ a year and enjoying life!
How can you possibly presume to quote generic monetary return figures? The income from currency trading is influenced by a number of factors including account size and percentage risked. The alternative-to-Forex 300,000 income (without even a currency quoted!) is equally arbitrary.
The circumstances surrounding going full time are entirely personal to the individual in question, personally of course I would not advise going full time until one is content that one has a profitable, consistent approach - but to put an earning cap on Forex suggests to me that you aren’t doing it right…
US dollar, currency quoted now. The thread is about forex as a career and that’s exactly what I commented on. Account size doesn’t matter, we are talking about making a living out of forex so whatever account size makes that work for you, then that’s the account size. Your second paragraph just explained what I said in my first paragraph of my previous post. Plus I did not put an earning cap. I just stated some numbers that may be likely - simply giving an expectation about profits. Around these numbers the risk becomes so large that if forex is your only source of income and you don’t have 300k+ to blow, you won’t be making anything higher than that. Don’t forget the bills!!!
I was an financial specialist for a multinartional woodlands organization and made the decision to get a regular currency investor. My recomendation is that you have be sure you can generate the cash enough from this action, it’s completely possible but it’s better to have used the period of your energy and energy enough with a trial consideration.
I made the mistake of quiting my job hoping that my trading would be profitable. Only to realise that when the need of earning money built up my trading went down horibly. My mistake costed me dearly and I don’t want anyone to make the same mistake.
My advice is to make sure that you have plenty of reserve cash and a proven profitable strategy before quiting your job.
I’m back to the workforce now and start building up my account for some part-time trading and only want to trade part-time to eliminate the potential pressure of [B]“be profitable or starve”[/B].
you have made a terrific decision.
yes the pressure can be so profoundly immense. Good job and good advice
I quit from my job several years ago, and still I don’t have any regret with that decision. I started trading with in 20 days, then realized if I want to trade for long (as a career) then I need good forex education and training. I learned hard from market movement and used to with its trends, analysis, indicators and build passion with interpersonal skills. Now I’ve 8 years of professional trading experience and I advised you to choose good broker/firm and practice on their demo to get used to with it.
well i think forex provides a very good opportunity to make a career out of it , as it dosnt requires much capital and a degree to start it , it just need some knowledge and a little practice and then you can have your own business
That applies to every field I believe
Agreed - I pay for my charting, but even that is available elswhere for free elsewhere and as my largest single overhead it is still under £100 pcm. Obviously I need a computer and internet connection but I would have those anyway. I can’t think of many businesses that offer this flexibility, these low overheads and this income potential with.