From Hobby to Profession: Forex Trading

Filed under: Learn Forex Trading |

There are many people who start out doing something as a hobby and it eventually turns into a profession. People who excel at their hobby often take it to the next stage and turn professional – as this is a natural progression. Some example of this might include some who plays badminton, chess, or someone who paints or does ceramic art. However, what you would not find is that someone suddenly decides to be a professional badminton player and expects to get there in a short space of time with minimal practice. This is simply not going to happen. These things usually take a combination of hard practice and a natural set of skills and talent. Interestingly, this also fits in with forex trading.

 

Many people seem to expect to be able to make it as a full-time forex trader just because they are intelligent or successful in other fields. However, this is as ridiculous as thinking that you can be a professional badminton player just because you are a clever doctor. Just like badminton and the other hobbies that I mentioned, trading forex takes a lot of time, practice, and patience before you can begin to excel. To begin with, you should probably think of trading the markets as just a hobby and continue your day job as normal. If at some point, you continue to enjoy trading and you find that you are reach a good and consistent level of trading, then you might start to think about the possibility of turning professional. However, until that time comes, you should continue to think of your trading as just a hobby.

 

Trading forex is difficult because you are essentially playing against people who have been in the business for years and have a great deal of experience. Add to this that they probably have the assistance of much more powerful computers than you do and that they have a team of people working for them; it is no wonder that the majority of new traders fail. It is like Woking playing Manchester United! So practice, practice, practice, and one day – you might just be ready for the next step.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>