Do you want to become a full time trader ? Read This.
Here is what a full time trader has gone through and if you're a full time trader you can relate.
**First, you get pressure for money**
Every month, you'll need to generate profit to put food on the table, pay rent, etc.
Pressure = FOMO = Bad Trades.
The need to make a positive return, will make you make bad and rushed decisions.
Second, you will worry about blowing your account or having a losing month.
A losing month means no monthly income.
A blown account means no more full-time trading.
So you constantly have a background feeling of worry when you trade full-time.
Third, your ego will be challenged
As a "full-time trader", you are "expected" to make money.
Your friends and family will ask. Every loss will damage your ego.
You'll focus on trying to win, which is usually detrimental.
Think twice before going for full-time trading.
It sounds great and you think about all the positives, but it has a lot of negatives attached to it.
if you really want to become a full time trader the first thing you should be doing is be a profitable trader consistently for atleast 6 months straight.
- Make sure you've saved at one year of your house expenses so that you will not have the stress to make money every month.
- Make sure you have a side investments that produce you some passive income.
