Forex trading is great as a full-time career. But it comes with certain risks as the market changes every minute. It requires a lot of study and time for a full-time Forex trader. so, always be careful before putting your step into it. You have to think about the potential factor where you think you are ready to afford the losses while not having any backup income.
I think there are quite a few individual traders who have chosen forex trading as their full time job or profession. Some of them start out as part time traders and then switch to full time trading once they are profitable. And some just devote their entire time to trading as they are determined to build a career as a forex trader. It is surely a rewarding career path but also a challenging one in many ways.
I believe forex is something you can go for a long period. In order to sustain daily life based on trading one should have good experience and knowledge.
Statistics show that most aspiring forex traders fail, and some even lose a lot of money. Leverage is a double-edged sword, it can bring huge profits as well as huge losses. Counterparty risk, platform failures and sudden bursts of volatility also present challenges for would-be forex traders.
I feel the same. If you have a solid understanding of the market, trading either full-time or part-time can be profitable.
I am a retail trader who is trying to find his feet into the trading world and make a full time living out of it. I think it is pretty tough without a bit of help, because there is always the lack of funds that would not allow us to maximize our profits. This is where prop firms come in, as they give you funds if you can pass their trading challenges. This would be a good way to go ahead with your trading career, only if you believe in your trading prowess though.
IMO, trading can be a viable long-term career option for those who have the patience to trade and can control their emotions.
I also think so, the key benefit is that you are totally independent in the choice of working hours and investment size, however it is necessary to stay on the edge and maintain competition.