Trading Forex: How Can a Hobby Become a Profession?

Filed under: Learn Forex Trading |

Like most people, when you start out trading the foreign exchange markets (‘forex’ for short), it will probably be nothing more than a hobby. You will likely trade on a demo account for a while, and it will be like a game that you try to ‘win’. However, at some point, you will probably start to trade with real money, and at this point your hobby becomes more serious. However, unless you are making any serious money from it, it will remain a hobby.

 

In other fields such as painting, ceramics, sport, chess, drama, and playing the guitar, people will also follow this kind of pattern. They will get interested in something and begin to practice, and then they will invest in some better equipment in order to improve their skill. The might also start to try to enter low level competitions – but until they are making any significant income or gaining any notable awards, then their hobby will continue to be a hobby.

 

However, some people work so hard at their hobbies, and improve their skill so much, that they transcend the ‘hobby’ status and become a professional. This might happened because they manage to attract some sponsorship, or they might start to make enough money that they can give up their day job. It is no different with trading the forex markets.

 

If you can attract enough people to invest their money with you, or you can start to make enough profits from your own trading capital that you are able to give up your day job, then you will have gone from trading being a hobby to it being your main profession. If you work hard enough, hobbies can become a profession; but it doesn’t happen often, and only the most dedicated in their field make it to the very top.

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