Forex as a full time is very tough but if you are doing it part-time just for some extra income then it’s easier to manage. Plus it’s convenient cause you can technically trade anywhere with an internet connection.
Thinking of packing up your job? Your strategy will tell you if you can earn all the income you require from trading.
You need to know your annual income requirement, starting capital, win rate, r:r and the number of trades per year.
Number of trades per year is one which traders assume is within their personal control - it isn’t. Do not assume that simply by spending more time in front of the screen you must therefore find more trades - you need to quantify how many trades your TA will flag up per year.
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Well, being a part time trader can be a lot of work if you don’t have enough time to spare for learning. But I think it is best to be a part time trader if you don’t have enough savings to support yourself while starting out as a full time trader. Because it will take some time for you to learn and earn profits as a complete beginner. So there is nothing wrong with being a part time forex trader if that works for you.
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Yes being a part-time trader works if you wanted to work in that way only. But even if you work as par time it is equally important to have full knowledge about what you are doing.
There are millions of traders who are trading Forex as part time traders. So, you can be benefited trading forex as a part time trader.
It’s all about diversification. Like who would not want to earn an extra income while still at the desk of his job? And if trading is presenting that opportunity most especially in a time where all of our busyness is being humbled by inflation; its definitely worth the try.
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