Stock traders have a lot of publicity, but most people are part-time traders. For that reason, the majority of people are working as office workers, but is it possible to leave the company and become a full-time trader? And how much income do you need?
Being a professional trader isn’t easy
Whether it’s forex, stocks, or cryptocurrencies, it’s not easy to become a professional trader. So just remember that it’s never easy. Here are some things to worry about when it comes to becoming a professional.
unstable income
A professional trader’s biggest anxiety factor is income. Income is very volatile. This is because whether or not you can earn money depends on the market price, so there is a big difference in the amount you can earn depending on the day. It can be said that it is suitable for those who want to become a full-time professional even with such an unstable income. There is no fixed monthly income guaranteed like a company employee.
take a few years
Unless you are a super-trader, you won’t be able to win quickly. It will definitely take more than a few years until it becomes stable and wins. Therefore, if you want to become a stock trader, you will need at least a few years of training, so you will need a certain amount of determination.
the way out is cut off
Quitting a company employee and becoming a trader means that your work history will end and there will be a blank period. In the unlikely event that I can no longer work as a stock trader, I will have to think about going back to being a company employee. However, since there is a gap in my work history, it will be difficult to secure the annual income I have received so far.
no guarantee to win
Professional traders have no guarantee of winning. And there is no guarantee that you can continue to win forever in the future. For this reason, there are many cases where even if you win one year, you won’t be able to win after 10 years. In this way, becoming a full-time trader can never be said to be a safe profession.
Conditions for quitting
It is possible to quit your job and become a full-time trader by meeting the following conditions. If you cannot meet at least the following conditions, it is better not to quit your job. If you have an interest or goal in asset management, start with a side job to avoid failure. Even if you cannot fire it, you need the ability to judge and select valuable stocks to make a profit. These things can also lead to a career.
Annual Total Plus
Annual Total Plus is mandatory. It is difficult as a trader if the balance is not positive throughout the year. And in order to become a total plus for the year, you have to try to trade for at least one year. Therefore, it will be several years before I can actually quit my job.
More monthly income than office workers
It’s only a guideline, but the premise is that the monthly income will be higher than when you were a company employee. Company employees are guaranteed a monthly salary, so they will definitely receive money. But in the case of a trader, if you lose, your money will decrease in the first place. The only requirement is that you have a steady monthly income. If you earn more than your current salary, you will be independent.
Continuation of Total Plus
In order to become a professional trader, you must continue to make a continuous profit. This means that you must have monthly income. If you can’t do this, you shouldn’t do it. If you can’t win consistently, you can’t become a professional.
Characteristics of successful professional traders
So what kind of person is successful as a full-time trader in the stock investment industry? They have the following characteristics. At first, you can buy while working and hone your basic knowledge. If you can hold various stocks for the long term, you have the aptitude. If you can continue to do it according to your purpose while being exposed to society every day, you should be able to make it as a financial investor. You can learn about money, companies, and economics at home. We recommend starting as a side job first.
good mental control
Successful full-time traders have good mental control. Anyone can get carried away if they win, or become depressed and unable to trade if they lose, but the secret to becoming a full-time trader is to not be influenced by immediate wins or losses. . You cannot become a full-time trader while being influenced by emotions.
Life rhythm is not disrupted
When anyone quits their job as an office worker, many people lose their daily rhythm and become nocturnal, but in the case of full-time traders, they only concentrate between the London market and the New York market, so they spend their time at that time. You can train well. However, if a person’s daily rhythm is disrupted, he or she will be unable to control himself and continue living a lazy life, resulting in him becoming a wreck.
fund management
Money management is the most important aspect of any investment. It is important to keep the loss cut amount to around 1% to 2% of the margin. There is no guarantee that you will win every time you trade. There will definitely come a time when you will suffer losses, so the most important thing is to focus on how to not collapse during those times.
HFM recommended
With HFM, you can trade over 1,000 stocks, FX, virtual currencies, and more. You can open an account for free, so please refer to the article below to open an account. Investors are suitable for those who can work as day traders all day long without failing. Even if you are a housewife or unemployed, you can become a trader, although it is very difficult in reality. The key is to continue steadily in order to increase your assets. You can analyze stock prices for business purposes and use services such as stocks and investment trusts to buy and sell.
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