Is it possible to combine Forex trading with any other job?12 / April / 2020
Is it possible to combine Forex trading with any other job?
A successful trader does not need to combine trading on the Forex currency market with any other activity, because there simply will not be enough time and effort, and as a result, both directions will not satisfy the needs and give tangible results, or even destroy each other. But there are not a large number of such speculators, but the bulk of market participants, these are traders for whom foreign exchange trading is a hobby that brings in not bad earnings.
And while Forex cannot provide you with income from foreign exchange trading, the main income will be earnings from your main labor activity, and this does not contradict the development of trading. It is necessary to clearly realize that, as in any business, mastery is achieved only through the acquisition of great experience, and this requires a lot of time and effort.
But combining work and trading in the financial markets, it is necessary to clearly understand that trading will develop if you devote the necessary amount of time to it, then the acquired skills will be effective for development. Many people confuse the effectiveness of the trading process with forex trading, when the trader spends most of the time on the forum talking with the same "unfortunate traders", exchanging cool deals and, as rules, only profitable, he searches for effective trading systems, advisers, indicators and others that are not needed. skills. Of course, getting the necessary basics from a technical, or some other type of analysis, is a necessity, because without a market understanding, a trader will not be able to determine for himself something of his own. In gaining practice, the currency speculator finds his way to successful trading. This is the path to successful trading. An important component of successful trading is understanding the pricing principle! The rest will come with trading experience, and creating your own trading system.
You need to understand that training and gaining trading experience will not be fast, trading will have to devote a significant amount of time.
To combine the main activity and trading in the Forex currency market, you need to decide on the choice of a trading session. Beginning traders have a false idea about the profession of a trader, they think that this is a person who spends his days working at the monitor, looking at charts and reading analytics, with frequent opening positions in order to make more profit. Such speculators, of course, are also present, but the bulk of traders use a conservative principle of work, for which the above conditions are not mandatory. Transactions with such traders are opened when the conditions of the trading system are met, and the conditions of the trading system coincide not so often.
To summarize, we can say the following - to quit the main job, it is worthwhile when the trader is confidently standing on his feet, has achieved consistency in the results, there is a positive trend of stability. This requires gaining experience that comes only with time.
As you can see, the main work is not an obstacle to full-fledged currency trading in the Forex market.