Are you interested to become a forex trader? What would be your lifestyle as a trader? In the whole section, we will guide you to the top 10 reasons why you should be a forex trader.
06 March, 2020 | AtoZ Markets – Trading in the forex market means buying and selling currency pairs through a forex broker. As we know, the forex market is a unique place to buy and sell currency pairs. Different central banks, financial institutes, and insurance companies are the main market mover of the forex market. Despite their activity in the forex market, retail traders can earn enough money by buying and selling currency pairs through the forex market. Therefore, as a trader, a person can enjoy a unique lifestyle that is not possible for traditional jobholders.
If you want to be a trader, you will enjoy the beauty of forex trading. Are you excited to know why you should be a trader?
Why You Should Become a Forex Trader
Forex trading is the hardest way to earn easy money. Yes, it is not easy to earn money from the forex market. However, when you get expertise in this field, you can do something great. Trader’s lifestyle is different than others who are not in trading. So what’s the difference? Let’s find out.
#1 Financial Freedom
Financial freedom means having enough money to not worry about bills and other regular problems. Just think about having the ability to make enough money to live comfortably from anywhere in the world. You only need a computer, and the internet is a powerful and motivating thought.
Being a successful trader means not to make a lot of money only. Freedom is more important than earning money. You have the freedom means you can do what you want when you want, and you really can’t put a price on that.
#2 You can Trade Until You Die
The fact that you can carry out the trade by the young and old alike is another big advantage. If you’re a trader, you don’t clearly ever have to ‘retire’ until you die. You can trade your whole life because it is not physical labour and you can perform it from your home. Thus, becoming a trader provides you with the potential opportunity to generate the income you’re entire life.
#3 Flexibility in Work
The flexibility in forex trading means you may get yourself awesome as a trader. You can make your own timetable, travel where you want and do what you want. You don’t have to think about ‘missing work’ if you want to go visit relatives or go on holiday. Not having to live by someone else’s ‘rules’ or schedule is one of the best parts of being a trader. Moreover, you don’t need to sit in front of a computer to trade. You can trade from MT4 or MT5 platforms through mobile devices while you are travelling through a bus or train.
#4 You’re Unique
A trader is a person who is looking for a way out. Most of the people in the world are restricted by the 9 to 5 grind. Who wants to spend their life working to make someone else more money than they make themselves? That’s why a trader is unique. Traders see the world for what they really want to see.
Moreover, you should have a mindset that is different from the masses. You are a ‘lone wolf’ who takes a unique mentality, and you don’t care what other people think. Many people will come and tell you to keep away from trading as it is risky. Therefore, only the ‘elite’ group of people can excel. These people are masses, and you are unique. It is very hard true that going to work for 40 hours a week is simply a new form of slavery. Being a full-time trader would let you escape this modern-day slavery. Trading allows the opportunity to escape this. However, it is not an easy course of action, but at least it gives us a chance to enjoy true freedom.
#5 Enough Family Time
If you have kids, being a trader will allow you to spend time with them and be there more as they grow up. This is especially a blessing when they are little and doing new things every day. Spending 8 or 10 hours a day causes you to miss at least half of your kid’s childhood. There is no alternative to having more time with your family. Being a trader from home allows you to have this opportunity. It will increase bonding with your family members that are very important in today’s world.
#6 You are Your Boss
Being a trader means are your boss. You can make your decisions both in the market and in life. If you wake up one day and don’t feel like doing anything, then you don’t have to. You are not bound to work and hear your boss dictate to you what you need to do. You set your own rules.
This type of freedom is not for everyone. Some people are bound to follow the rules imposed by jobs and society. If you want to be a full-time trader, you have to make your own routine in life. For those who do not follow this, it comes with the perk of real freedom. However, if you are not a self-starter and self-motivated, you may struggle with this aspect of trading.
#7 You Know the World Better
As a trader, you would understand the differences in the strength of various economies around the world. It is amazing how little people know about exchange rates and the relative strengths of different countries. As a trader, you will understand the market volatility and non-volatility. These will let you know the economic condition of countries. Therefore, you can talk with people about the economy of the USA, Canada or the UK.
Being a forex trader, you can focus on the price action of various currency pairs. Therefore, it will help you to understand the world in a more intimate and clearer way than people who are not traders. For example, if you travel to a country, you will likely know the exchange rate of that country and your own, whereas most people have no idea.
#8 No Entry Restriction
It doesn’t need to take a degree from a fancy university to become a successful trader. It just needs determination, persistence and most importantly, discipline, and patience. Trading is the most equal of all opportunities out there. Anyone who wants to be a trader can learn from the ground up. Some of the best traders in the world have no formal education. Therefore, even college dropouts can become successful traders if they want it badly enough.
Thus, trading offers an opportunity for anyone who is looking for a different path in their career. It is a path to real freedom from today’s overly-structured societal ‘norms’.
#9 Giving Back
Becoming a successful forex trader provides you the opportunity to help others. Not only can you help your friends and family financially, but you also have the ability to pass the skill to them. Therefore, they can then use it to build their own true freedom as you did. It will not only benefit them but also brings you great satisfaction. Therefore, you will feel peace in your mind when you know your subordinate makes some profit. It is grateful, isn’t it?
#10 A Healthy Lifestyle
As a trader, you should focus on the forex market clearly, and this is possible when you have better mental health. Therefore, traders often do prayers and meditation to improve their mental health. Hence, it will make you a better human. Moreover, good mental health comes from a healthy psychical condition. Therefore, you will be a better human as a whole.
The involvement of retail traders in the forex market is very small. Even all retail traders cannot move markets as a whole. So the main aim of forex trading is to trade favourite currency pairs by following the footprints of big market players in the field.
On the other hand, the forex market is a leveraged market, and there is a possibility to lose all the invested money. Therefore, you need proper education and practice before investing any real money in the forex market.
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