It’s great that independent forex traders love what they do. Whether they are trading full time or only in their spare time, it makes no difference. Even if they only started trading as a way to make millions, it soon melds itself into their lifestyle and it becomes a part of who they are. And there are many reasons for this. You can ask any number of independent forex traders why they do what they do, and you’ll get many answers, but they really boil down to a few. The truth is, they find enough value and reward in trading to keep at it.
When surveying groups of independent traders, here are some of the qualities they all agreed on. Hands down!
Taking Profits
Of course, without a promise of money at the end of the occasional tunnel, no one would continue in trading even if it were fun and exciting. The first reason for getting into the market is to earn some extra money. I’ve heard of people who have been laid off their jobs and used their unemployment benefits to begin independent trading. If they spend the necessary time learning, choose a good broker to work with and become successful, it can actually take the place of a full-time job.
Flexible Hours
If being an independent trader is not a full-time occupation, then it can fill in the empty hours during the daily schedule. If you have an hour or two of unscheduled time, or downtime during meetings, why not use that time profitably? Secondly, since the hours are flexible, it can be an additional source of income to a regular “day job.” You don’t have to quit your current place of employment to begin trading. It can also be perfect for night owls, as they can be awake for different time zones and grab deals in other countries.
Learning a New Skill
Some traders like the thrill of learning a new skill and then putting it to use. Understanding the forex market is not simple and it’s not for the faint of heart. But for those who are willing to put the time and patience into learning, it can be a challenge worthwhile. The learning curve is steep. There’s nothing like burning the night oil to gather information, follow successful traders and learn from everyone. But for those who have learned, experimented, traded and stuck with it, they’ll tell you that it’s worth the effort.
Age is Not a Factor
Pensioners who have stepped back from a lifetime of work, leading others, managing corporations or teaching students suddenly have a plethora of learned skills, extensive knowledge, life experience and more than enough time on their hands. Why not use that time to begin a new challenge? It doesn’t require a lot of physical exertion, you can trade anytime of the day or night (since the market is always open somewhere) and you can add some dollars to your pension fund.
Independent trading can be as rewarding as it is profitable.