Beyond the typical 9-5, forex trading remains to be one of the most sensible ways to earn money. After all, it’s a recession-resistant industry that provides great trading opportunities, even amidst declining economies!
However, as promising as it may seem, not a lot of traders have gained enough trading experience to take it full-time. That’s the dream, though. And a great dream it is!
But for now, we have to deal with reality. And the reality is juggling a full-time job, a part-time forex trading practice, and other personal responsibilities can leave you at your wit’s end.
Instead of heading to bed after a long day at work, a lot of part-time traders muster the energy they have left, struggling to keep their eyes open as they browse through their charts and check in on their trades. Oftentimes, they do have it rough.
Despite all this, why do they even try? This is what I have to say:
Actually, Forex is a tough job; so I think it’s a good choice to the new traders to start their real trading as a part timer! If they are getting consistent result, then surely they can take their final decision!
In the world of employed work, at least in the post-covid UK, fewer and fewer people are working full-time. With home working and remote working and nomad working, the number of people who even work set hours is fewer and fewer.
Trading should not be seen as a binary choice - spare time outside a full-time job, or a full-time job.
In 10 years time, teenagers will be asking their parents, “What the hell did “full-time job” even mean?”
Starting part time is a good way to build a track record and then become a money manager. Some of the world cup trading champions did it this way as well. Plus forex has extended periods of which it’s boring.
In these times more and more people are realising the importance of upskilling during their spare time whether that be in forex or something like video editing, social media marketing or many other avenues. As such I don’t think any of them are a waste of time. As with any of the other things you can learn in your spare time, your success is governed by your ability to make time for it and be consistent.
As a part-time trader, I initially thought this was a diss against part-time traders. Something like, “why do you even try when only full-time traders succeed” or something. BUT it’s interesting to see what the others have shared here too. And I agree that forex isn’t easy but it’s a good way to make additional money. I’ve said this a lot of times but with everything being so expensive right now, I don’t think it’s a bad idea to have numerous part-time jobs including forex.
If a part-time forex trader is able to trade in the market and generate profits, then I see no reason why he should not do it. If you are not trading, you are losing your money to inflation. I feel, in this crazy world of today, you should do everything you can to generate income. The part-time forex trader is already ahead of the rest of the world, because he is generating some income while others are putting their money in banks and burying it in the ground. And if he/she manages to make a living from the forex market, then more power to him.
Forex as a part time income is great as it helps many people meet their day to day needs and extra expenses. If you’re considering taking up forex as part time, it doesn’t mean you don’t need to study the market. It takes the same effort to learn & understand the market. There is no difference in the dangers involved with part-time trading. Part-time trading does provide you the flexibility to trade in accordance with your life’s circumstances, but it does not eliminate risk. You must implement sound risk management techniques if you want to reduce your exposure to risk.
At first you might not be able to trade as much as you’d like, as you’ll be juggling with full-time work. But that would help you build a solid base of trading experience anyway. So you’ll be getting a reliable foundation for your future trading career. Full-time Forex trading requires persistence, discipline and consistency. It’s a long term play, but if you’re able to dedicate your time and effort, it will pay off very handsomely in future. So don’t worry about temporary lack of time.
A job is a job right? Clock in at a certain time to trade. That does not mean you will trade everyday because the set up, depending on the selected strategy, may not be there. Just get in the habit of treating this like a regular job.
Forex trading regards technical analysis, it might be a good fit for you if you have solid understanding of price analysis, charting, and technical patterns.
Something like, “why do you even try when only full-time traders succeed” or something. 
And I agree that forex isn’t easy but it’s a good way to make additional money. I’ve said this a lot of times but with everything being so expensive right now, I don’t think it’s a bad idea to have numerous part-time jobs including forex.