Upon having watched the movies like “The Wolf of Wall Street” and “Margin Call” many of You certainly thought to themselves – how would I like to be a professional trader. Forex trading may be a tempting career choice, but this profession is definitely not suitable for everyone.

Forex trading involves so many risks and financial markets are very difficult to forecast. The vast majority of people today is used to the feeling of security and stability, so they do not dare to take a step in the financial field. As well as the majority of those who have tried Forex trading, has become losers because they imagined, that it is an easy way to earn money.

Forex trading is similar to other professions, since in order to become a professional, new things must be learned, educating must be constant and one must gain practical experience. If you have thought about being a professional Forex trader, let’s have a look behind the scenes of this profession and in the everyday life of a Forex trader.

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Anyone may become a trader, but only few can earn money

Yes, you can become a Forex trader today! Visit a website of any broker, open your trader’s account and start trading! However, can you call yourself a Forex trader, if You have opened account with the broker?

There are no limits in Forex trade, everybody can engage in trading, who has reached the age of 18 years. You do not need a higher education, You do not have to have a suit in a closet and a Porsche next to Your mansion. You can do Forex trading in Your pajamas, while laying in bed and watching TV!

Let’s be real, You cannot become a professional with such attitude though. In order to become a carpenter, You have to have a 4-year vocational education and only then you get a job. The fact that Forex trading is so readily available does not mean that it is any easier or less serious than other professions.

One cannot become a Forex professional by studying at a particular school, this profession is learned on one’s own. Of course, education in finance is an advantage, but all the training materials are available online. Many of the Forex brokers on their platforms have created training sections, which is a solid starting point of a Forex career.

There is a saying, that one becomes a professional, when they have spent 10 000 doing it. If we divide it into 8-hour working days, then You should count on 1250 days or approximately 3 and a half years. If a higher education program lasts 4 years, then You can become a professional Forex trader in 3.5 years. Will you have enough patience?

Forex trading involves a lot of unknown

I have already mentioned, the majority of society is used to average comfort and stability. Forex trading definitely is not the right place for people who are afraid of taking risks. Upon opening a position on Forex market there can only be two outcomes – You either earn or lose money. Are You ready to risk all your assets in order to earn even more? Professional Forex traders encounter such choices on a daily basis.

In order to foresee the development of financial market, You will have to be following closely the most important political, economical and environment factors in various countries on a global scale. Value of the currency pairs can be changed by a couple of words from Donald Trump during a press conference, or his tweet.

Even professional Forex traders sometimes face periods when nothing is working and all the open positions are loss-bearing. You must take such periods into account, if You want to become a professional. And how You are going to react, oftentimes will determine, if You succeed or not.

Upon starting Forex trading You should have saved funds, which You are able to lose. With time You are going to become more experienced, and possibly You will even start making money from Your Forex trade, however at the beginning You should count on losing these funds. Prepare yourself as if You are investing this money into Your education and later this investment is going to give You generous fruits.

Why it is worth it becoming a professional trader?

Despite difficult path to be taken, in order to become a professional Forex trader, it is definitely worth it. Let us have a look at several reasons why it is worth becoming a professional trader.

Flexible lifestyle

One of the most important reasons for choosing to be a professional Forex trader, is flexibility. Online trading provides You with freedom, You may choose when to work, and where to work. In order to open or close Forex positions, all You need is a computer (or even a mobile device) and internet connection – in practice You may work from anywhere in te world. It does not of course mean that all Forex traders are currently sitting under the palm on the beach, because comfortable and clean working space certainly improves productivity.

Passive income

What income is the best? Passive income, of course! Professional Forex traders make their money earn money. Money You earned yesterday, earns money already today, which is going to earn money tomorrow! Forex trading provides opportunity to earn money while You are asleep or actively spending Your time on different activities. In order to earn money, You should not be at work and physically working.

Unlimited income

Theoretically, income of a professional Forex trader is unlimited. The more assets are avaiable to You, the more money You will be able to earn. At the beginning of Forex trading, Your transaction size is definitely not going to be big, but with the growth of the capital, Your profit should increase proportionally. Do You have such opportunity in a paid position elsewhere? Probably not!

Conclusion

Having a look at both negative things a professional trader must encounter, and positive advantages, You can do the conclusions Yourself. Some of You might think that this is a dream job, but some – would definitely not want to do it, due to the risks involved. If all the advantages and drawbacks are taken into account, this profession is suitable to a person who is not afraid of taking risks and would like to enjoy a life without limits.

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