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Trading for a Living

Is it really possible to make a living trading and investing in the financial markets? The short answer is yes. Having a job and being dependent on a salary is an inefficient way to earn an income. Take your first steps towards financial freedom by developing trading skills, discipline, patience and a realistic attitude towards long-term success in the markets.

 

There are several limitations that come with having a job:

  • You can never get paid according to your true worth
  • It consumes most of your time and makes someone else wealthy
  • Making more money requires a raise or promotion - involving longer hours and more responsibilities
  • You have no freedom
  • You have no leverage
  • You may not be doing what you are passionate about which brings about additional stresses and lack of personal fulfilment

People have to work in order to make money. Compared to this, trading for a living looks attractive and has many advantages. Time is no longer a factor - the time spent trading is up to the individual. A trader gets paid for the value they create. The amount of money one can make is not related to time spent in the market.


The benefits of trading:

  • You get paid for your thinking
  • You get paid to make yourself wealthy
  • You decide how much money you want to make
  • You have freedom
  • You have leverage
  • You can trade when you want, and how often you want


One does not have to work in a job in order to make money. Traders can enter a position, place a stop loss order and go fishing. Assuming the trade is profitable, one can make money without working. An individual who trades well, gets paid over and over again by applying the same technique across markets.


Some important criteria to consider before embarking on trading for a living:

  • Eliminate all personal debt
  • Have access to sufficient trading capital you are willing to lose
  • Develop a trading plan and strategy that works for you
  • Follow good money management rules
  • Have self-belief, confidence, discipline and a desire to be successful

These foundational issues should first be in place. Trust in your trading system and learn to deal with losses. Backtesting the system is the best way to develop confidence in the results going forward.

Every professional trader goes through periods of losing money. This can be managed with the right attitude and money management techniques.

Trading for a living is like running a business. Successful traders are passionate about the markets and do not focus on the money. They are aware that a series of good trading decisions automatically takes care of profits and growing their account balance.

 

 

 

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