It depends on the person, but it takes a very long time to quit your job and become a full-time FX trader. Therefore, it is normal for everyone to start out as a part-time trader. So how much money do you need to earn to quit your job? Here are some guidelines.
What is a Professional Trader?
A full-time trader is an FX trader whose main source of income is FX. Most full-time traders spend their time holed up at home looking at charts, reading manga and watching anime. They are always waiting for an opportunity to strike. They are mainly active from the London market to the New York market. This is because this is the time when the market is most volatile and prices move the most. There are risks involved, but there is also a good chance of making a big profit. Some people make money by collecting information for free from investment and foreign exchange blogs. The top product in the spotlight is FX.
What is a part-time trader?
A part-time trader is someone who trades while working as a company employee. Or it refers to a person who has another occupation but is also an FX trader. In either case, you have limited time to trade, so use your free time to trade. As a result, your active time is limited, but you will be able to lead a healthier lifestyle and have more variety than a full-time trader. Before you start earning money, think about whether you can make stable profits and whether you have the funds, and then consider going independent. I want to earn at least tens of thousands of dollars a day.
Requirements to become a professional trader
This is my personal condition, but if you want to become a full-time trader, you need to meet the following important conditions. In order to succeed as a professional, it is no good to rely on products, and it is also important to have the mental strength to really increase your assets by buying and selling as a side job. You also need the ability to adapt to changing markets. If it were me, I would prepare and decide after accumulating at least enough experience and results to make a living.
Annual Total Plus
In order to become a professional trader, it is obvious that you have to keep winning. Monthly total plus is not enough to prove it. It is important to be a total plus for at least one year. Of course, if this continues for two or three years, it will be perfect. As long as you can get a plus, all you have to do is increase the lot, so your profit should increase on its own.
Income 3 times the cost of living
What are your living expenses now? Rent, utility bills, parking, food, mobile phone bills, Internet bills, etc. It is a condition that you can earn about 3 times these living expenses stably every month. In the case of salaried workers, health insurance and pensions are split in half, but if you become independent, you pay 100% yourself. Keep in mind that this fee will also weigh heavily on independence.
Unskilled as an office worker
Let’s check if the office worker has any regrets. If you are satisfied with your current job, there is no reason to force yourself to quit. Instead, if you’re fed up with it, you can quit now. If you become a full-time trader, your work history will be interrupted, making it difficult to return to work. Please consider the disadvantages of this point.
People who fail to quit their jobs in FX
I have seen several people who quit their jobs to trade FX but failed. These people tend to have the following characteristics. Of course, those who cannot cut their losses, those who are not relaxed, and those who have no experience will fail a lot. If you do not build up your skills through demos, you will fail later in life. There are many people who have participated in the past but dropped out. Looking at the experiences on blogs and other sites, there are some who died due to the weak or strong yen, or who quit and ended up in a pinch, but there are also some who made a profit.
out of rhythm
There are people who were able to live a well-balanced life when they were salaried workers, but when they become full-time workers, they have too much time and the rhythm of trading is lost. This type is an example where you can’t win because you’ve been trading all day long and the number of useless entries has increased. It is said to be “pochi-pochi disease”, and by looking at the chart for a long time, you end up doing nothing but useless things.
become a cripple
There are some people who lose their goals when they become full-time and lose their time. Even if there is a desire to quit being a salaried worker and live a free life, people who have a free life and do not know what they want to do or who have nothing will become a cripple. Life is disrupted and eating habits are disrupted.
reinstatement
There are examples of people who were able to live a well-balanced life when they were salaried workers, but when they became full-time workers, their rhythms got out of control and they were unable to win trades. This is, unfortunately, an example of going back to being a salaried worker. Since salaried workers are judged based on their work history and age, it may be difficult to return to work if the gap in their work history is too long.
XM is recommended
XM was originally known as a forex company with too wide spreads. But this was only recently. Now there is an account type called KIWAMI account. The spread is very narrow and very suitable for trading. Therefore, this account type is highly recommended. Especially for those who trade in pounds, it is recommended because the spread is extremely narrow.
| KIWAMI | Standard | Zero | |
| USDJPY | 0.7pips | 1.6pips | 1.1pips |
| EURUSD | 0.7pips | 1.7pips | 1.1pips |
| GBPUSD | 0.7pips | 2.1pips | 1.2pips |
| AUDUSD | 0.9pips | 1.8pips | 1.4pips |
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