How to go from Full-time Employment to being a Full-time trader

Filed under: Learn Forex Trading |

There are obviously numerous ways that one can go about making the transition from being a full-time employee to being a full-time trader. However, I would like to talk you through one way today. Some of this might seem a little obvious, but hopefully, it will help to make things a little clearer if you feel like it is an impossible task.

 

To begin with, you need to start saving. You cannot trade with money that you cannot afford to lose, so you must save up a trading bank – money that you will only use for trading and it will not affect your lifestyle if you lose it all or some of it. A good figure to save would be 10,000 GBP as a minimum if you want to become a full-time trader, but you can start with much less and try to build up your bank.

 

Another thing that you will need if you plan to trade full-time is an income. If you don’t have any cash flow, then you might need a part-time job until you start making enough profits to withdraw a yearly salary from your trading bank. The perfect scenario would be to save up three years’ worth of salary plus a trading bank of 10,000 GBP. This might be very hard to do, but this would give you three years to turn your trading bank into something meaningful.

 

It might take a while to save up enough money (it could even take years) to begin your trading career, but in the meantime, you can open a demo account and practice, practice, practice… so that when you do have the money, you will be absolutely, one-hundred percent ready. And that is all that there is to it – a simple plan, but not so easy to execute. It will take patience, diligence, and self-belief; but it can certainly be done and one day, you could be financially free.

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