Preparing yourself to move from Part to Full time

Trading Discussion Trading Lifestyle
22

‌The Forex market is very large. I think it’s the largest financial market in the world. It’s my personal opinion that for traders to be successful in the market, they need three things:

  1. Support and guidance from someone who has been trading successfully and can show you the way to their dreams.
  2. A trading plan, strategy, and method they can follow until it is internalized.
  3. Commitment to sitting down and doing the work required to become successful.
3 Likes
23

Well, it’s pretty difficult step to try trading activity on full time, anyway it’s worth doing actually. In my opinion, full time trading will bring you lots of new experience and knowledge. You won’t distract on other things, your attention will be concentrated only on trading activity. I believe that people always should try to trade on full time. Of course, if you’re a part time tradder, then ok, you can trade part-time, however your results might be pretty low. If you’re fond of investing and long-term trading activity, then part time trading suits here most. In other cases, it’s just a waste of time as I think.

24

Another person looking for a handout? You could at least write more coherent sentences.

25

I would’ve thought 6 months, but one year is great!!!

1 Like
26

I am still in my learning phase but I have a dream that one day forex will be my full time job.

1 Like
27

More the merrier to be honest. You want to be completely at ease with your trading and not have to worry about shopping or car trouble etc.When people rush thats when mistake happen. Its daunting none the less lol

28

Surely, working full-time on trading isn’t an objective, its an overhead?

An ambition to trade full-time can be likened to an ambition to pay more tax. Certainly, paying more tax is a by-product of having a higher income, but paying tax from earnings isn’t a positive for the individual. This all reflects some skewed thinking and possibly unconscious psychological biases which can harm trading efforts.

The target as stated might be actually comprise several separate targets, they might be mixed -

  1. to make enough profit to give up employed full-time work
  2. to make enough profit to live on
  3. to be “busy”, to be actively involved in making trades rather than doing other things
  4. to have the perception and symbolic significance of having a proper job
  5. to be so busy trading that its impossible to carelessly spend much of the profits
  6. to be so active in trading that there is no time left to carry out any employed job

Unless we’re honest with ourselves, we’re likely to fail at what we do, and possibly never understand why.

1 Like
29

Well, I believe that nowadays traders are flexible so it’s not difficult to move from part time to full time. Both types of trading have their own peculiarities and you must take into considerations all of them in case you want to move from part to full time trading. For example, maybe you can change the strategy which you use or maybe you can change the whole type of trading, I mean move from day trading to swong one and something like this. Be flexible, try various options and you will be successful. I bet, because I also passed the same way once and I know that it helps people to understand everything in trading.

30

Moving from part time trading to full time trading is possible but requires a lot of changes in a trader.

  1. He needs to have in-depth and detailed knowledge about trading.
  2. He should be able to make enough money so as to give up his full time job.
  3. The trader needs to be disciplined and have well calculated trading plans.
31

I am also preparing myself for becoming a full time trader from part time trading in forex. I am leaving my job in the coming month. Switching to trading is one of the best decisions I have ever made.

33

If you are confident enough,of course you can.Always have some back up cash in your account. If anything goes wrong, you can manage your living with it.