How Trading Forex Helps This Stay-At-Home Mom Earn Extra Money

Community Member Spotlight
1

Although recent years have seen more women venturing into forex trading, it remains to be a male-dominated industry. Despite discussions arguing why men are “more fit” to be in the trading arena, there are still very few women determined to prove them wrong. If you think meeting a woman trader is uncommon, meeting one who is also a devoted mom is certainly something special.

Being a stay-at-home mom is certainly not an easy task. Even with just juggling chores and taking care of the family, things can already get pretty chaotic! But thanks to her passion and eagerness to give her family an even better life, @HeavenRobinson decided there’s room for just one more endeavor in her life: learning how to trade forex.

After looking through many options of making money from home, forex trading was the one that Heaven got really excited about. It’s perfect for a mom because it gives her the chance to contribute to their financial needs, without having to sacrifice too much time away from her kids! And although she’s fairly new to forex trading, her journey has been a fun and challenging one.

In this interview, we get to take a peek at how she manages her time and what sort of challenges she faces as a “forex mom” trader!

So, without further ado, let’s welcome @HeavenRobinson!

1. Tell us something about yourself. What are your hobbies and interests, etc.?

I’m really into drawing and painting. I’m learning to make wreaths at the moment and planning to open a home-based business doing that this year. Video games are also a big one for me, but I don’t get much time to play these days. I also like to spend some of my free time online looking for other traders to talk to and share ideas with, especially since none of my friends are really into trading.

2. How were you introduced to forex trading? What were you doing before you discovered forex?

I remember that I was searching online for ways to make money from home. I looked into freelance work and paid surveys, but a lot of it just didn’t seem to be worthwhile. Then I stumbled across some articles about forex trading and got really excited about the idea of it, so I kind of fell down the rabbit hole from there. I worked in retail before and had become a stay at home mom, but I also wanted to find a flexible way to bring in income without ever going back to work an actual job.

3. How are you juggling things being a stay at home mom and trading forex? What advice can you give to fellow moms who want to get into forex?

Sometimes it can be really difficult. I usually dedicate the first half of the day to trading and being online while my kids play. I find ways to entertain them by giving them play-doh or arts and crafts at the table. Sometimes I give a little too much screen time so I can get some things done. Then I make up for it by taking them outside or to the park a lot of the time once I’m finished for the day. I’d imagine that it would be a bit easier if you have school-aged children, since you could focus more with the house empty. I think any mom that wants to get started needs to start by realizing how much work goes into it and making sure that they can dedicate the time and energy to it. It’s also important to set realistic goals and to know that it can take a while to start seeing the results of your hard work.

4. What has been your biggest challenge during your first month of forex trading? How did you overcome it?

I didn’t really believe in myself at first. Money was tight and my husband was willing to make the investment for me to get started, but I was terrified I’d lose all the money and it would be a huge waste of time. I had a lot of anxiety and was really afraid to make any moves for a while, despite doing well on a demo account beforehand. Yet I kept picturing the day where I could tell my husband I was successful, so I finally just decided to go for it knowing that my dream would never come true if I didn’t take the chance. Of course, there are still bad trading days, but there are really good ones too.

5. What is the best part about being a “forex mom” trader?

I’m proud of the fact that I took difficult circumstances and found a way to better my kid’s life. I couldn’t afford daycare for 3 kids, didn’t have any family willing to help so I could work, and we needed money, so I taught myself a new skill instead of giving up. The best part about that is I can teach my kids one day so that they don’t have to work a 9 to 5 job if they don’t want to, or it can be a way for them to make extra money someday.

6. What are you currently doing to improve yourself whether in your trading or other aspects of your life?

I’ve been trying to spend more time online learning about new strategies and ideas. I also dedicated some time in the late evening to watching YouTube content. I’m really just focusing on learning a lot this year and trying to reach my weight loss goal at the same time.

7. Have you ever thought of investing in cryptocurrencies? Why or why not?

I’ve just started to dabble in cryptocurrencies as part of my New Year’s Resolution to add more things to my investment portfolio. I have had a Coinbase account for a while and used it here and there but never really understood the technicalities of it until now. I think it’s a worthwhile investment and predict that newer generations will rely more on cryptocurrency and technology as we move towards the future.

8. What is your current non-forex related goal at the moment?

I have a long-term goal to resume taking online classes for game design once my kids are all in school. I feel that I don’t have the time right now because I need to trade to make income, but I think I could juggle the two in the future. Eventually, I’d like to design my own games, possibly for iOS but this is something I still need to figure out. My short-term goal is to get my home-based business off the ground.

9. Non forex related question! Please describe your dream vacation. Where would you go? What will you do?

I probably sound like a kid on this one but my dream vacation has always been Disney World. Trading has actually helped me start saving up to go there but I’m waiting until my kids are a little older. I want to be able to stay there for at least a week and have enough money to buy any kind of souvenirs we want and to stay in one of the best hotels they have. I want to make my kids feel the magic and be able to do anything we want with no money-related stress on my shoulders.

I think the main subject I’d like to touch on is that parents or anyone that’s looking should know that this is a legitimate way to make extra money, especially for those that are in a tight spot and searching for answers. It’s important to be aware of how much time and effort it takes before jumping in headfirst but I think it’s a flexible job that suits parents well because we can always be available for our kids when needed without adhering to a strict schedule or having to call in sick and worry about being fired. I try to spread positivity to those that are just starting their forex journey and also try to give advice whenever I feel that I can help, whether that involves helping someone find a good broker, suggesting ways to get started without much money, giving tips to help with anxiety, helping others to avoid scams, or anything else I relate with.

22 Likes
3

Great to see and all the best! The notion that men are more suited to traded than women and that there is a difference is rooted in outdated thinking and nothing else in my opinion.

2 Likes
4

Well done for taking the plunge into trading.

I agree, it is a very male dominated industry - but I know of a few successful female traders.

Keep smashing it!

1 Like
5

Great job and well done :clap:
I’ve shown your story to my partner and she now wants to grg on board the trading train !
The fact you can spend more time at home, which I have mentioned in the past to her , has really inspired her to take the plunge :blush:

3 Likes
6

It’s a good feeling to be able to make extra money from home. You seem to have the right attitude for success and I wish you all the luck in your business endeavours

1 Like
7

Fair play to her for managing to get some trading done as well as looking after the kids don’t think I could manage that. Good thinking though making money and saving money not paying for child care.

2 Likes
8

Hi Heaven, I really enjoyed reading this interview. Thanks for your story.

I am not sure you are aware, but for the time you may be ready, there is an acute shortage of all things programming in the UK today, and there are organisations set up to train people in coding provided free of charge - anything from one week to 12 week courses. I may be wrong, but I think if you can write a program in iOS it can be trans-coded into Android, Win10, Linux, etc quite easily (i.e., stuff becomes more easily platform-agnostic).

Also, about gaming, when my boys were growing up (from 6 to 16) I often played Runescape with them and I can honestly say that I learnt about price discovery playing Runescape and I now use it to trade NFTs. Whilst I would not wish to distract you from your current trading goals, trading crypto and NFTs has been one of the most profitable things I have done for a while. I have had a very varied career both as an engineering and IT professional, but also as an entrepreneur including a stint as a scrapyard owner in the 1980s, but what I think I enjoy more than anything is “the art of the deal”. My wife went out at very short notice two nights ago and returned delighted to tell me she had just sold a piece of high end necklace she had bought from her cousin who needed money for a wedding, and she just happened to be wearing it - a Chopard piece with the initial R encased in the glass with the diamonds. Her friend (who’s name begins with an R) just couldn’t believe she was wearing it, and insisted on buying it. Job done.

I fell in love with a game last November called DeFi Kingdoms in which I buy and sell NFTs called Heroes. I also make use of the liquidity pools in that game for temporary storage of crypto and crypto pairs, though that is a high risk undertaking.

Best of luck with your Forex journey. Great interview.

2 Likes
9

It’s a biological thing I think :man_shrugging:t2:

1 Like
10

Thank you and I will!

11

That’s awesome! I’m so glad to see that she’s going to give it a shot and hope that it helps make her life easier as well.

12

I didn’t know about that - thank you for pointing it out and I’ll definitely add it to the list of things I need to look into!

13

Runescape was amazing back in the days.

I basically lived on that game in my teens - but then they f’d it up by migrating all RS2 accounts to RS3.

They then re-released RS2 and you had to start again. Ruined it for me!

1 Like
14

Hi @HeavenRobinson - I’ve noticed you around the threads with interest - clearly you have pretty high intelligence and a personality which suits you to trading as well as co-operating with your husband as a family and working towards common aims. I notice you say ;

This leads me to believe you probably have a “creative” nature (which Jordan Peterson (Highly recommended if that sort of stuff interests you) says is likely to be found in “Entreprenneurial types” ) and one of the main pesonality traits - alongside high IQ is “Openness to new experience” - but one of the downsides tends to be a lack of “consciescousness” (something I suffer from - I hate “routine”) - do you notice this in yourself ?

All the best and may your successes continue and multiply :sunglasses:

That’s interesting M - my daughter was talking aout learning to code recently - but that is not something I can help her with - can you give us a link - or a lead please ?

1 Like
15

That’s interesting. From what I recall from what little I have read the subject, the consensus is that women tend to be better traders. Not because of skill but because of ego. Men have a tendency to want to “make” a trade a winner and will stay in losing trades longer, resulting in greater losses. On the other hand, women are more likely let go of losing trades and move on the the next, better forgetting a losing trade.

As for your experience @HeavenRobinson - That’s excellent! Here’s to your continued success!

1 Like
16

Congratulations. Always admire some one who has ambition and works really hard to make those goals become reality. Gender has absolutely nothing do with it… it’s all down to hard work and perseverance.

Wish you every success :moneybag:

1 Like
17

What a read. Well done @HeavenRobinson for taking the plunge and a big shout out to your husband for believing in you. As your well aware by now its not an easy journey to get yourself on the forward pointing path but im pleased to see your doing well. Like you said theres good and bad days but the good days can be great, a good risk management plan makes for a wonderful prospect of growth. Teaching your children, may even benefit you in the future, your experience and theire youthfull minds may be a spark for evolution, im an 80s born, and I grew up with computers and their evolution, considered myself well educated but at somepoint technology outpaced me and my friends 6 year old is more techno savy than I ever will be. Point is… the younger generation are learning to work smarter not harder and with your guidance you really could be setting then up for greatness if theire understanding financial markets at a young age. As for the hobby you, never forget your passions and keep drawing. I too like drawing and painting, both brush and rattle cans. my day job I work as a scenic artist finishing film and TV sets. Although there May be more money available if I stayed home and traded full time I feel blessed to be in my line of work and part time trading still pays well, and I’m still able to trade lightly whilst working where I don’t need to maintain positions and can leave them run with a SL.
Hope your journey adds several zeros to the end of your account balance!

1 Like
18

I gave my RS2 account to my younger son, took a multi-year break, then came back as an RS3 customer. I had one single goal - to trade to accumulate 1 billion gold coins within a year. It took me nearly 3 years, and I stopped at 950 million, knowing that I had found more than a few ways of earning up to 5 mill per day. I traded heavily, sometimes with up to 250 mill in product, but mainly holding on to more than 75% of real bank.

I laugh about this but I think in all seriousness I learnt a lot about trading from Runescape. And I’ll never forget I learned price discovery from a nine year old. In summary, I am very age-agnostic when it comes down to listening to others. As an ex-governor of a school, I sometimes witnessed what I call age-reversal. Some of the young adults (pupils in secondary school) were far more mature and accommodating of ideas than some of the parents I had to deal with :crazy_face:

19

Interesting! I do have a lot of new ideas and ventures I want to try out but agree on the whole routine part. I’d say my life has fallen into once since having children but I’d prefer for things to be more spontaneous.

1 Like
20

Hi,
Below is a link to an organisation based in Manchester who I called about my own possible attendance (oldest student ever?). Also I was enquiring for my graduate son. The content is very broad based (good for anyone new in the subject matter) but I felt it was not what I wanted or needed. So I did not pursue it.

My understanding is that some of the places were fully funded by government, but I accept that may not be the case with all courses.