Trading is an attractive profession, mostly because of the high potential income, but a lot of people hesitate to actually go into it. This fear is not without merit, even the best of traders have lost money sometimes and that sort uncertainty can be discouraging.
Some also worry about not knowing enough about trading in order to make a proper career out of it. However, with the rising popularity of online trading, a lot more middle-class people are finding the courage to invest their savings.
Financial freedom is one of those terms that gets used a lot and that means different things to different people. Obviously having financial freedom means that you don’t have to worry about the bills or at least, not that often. But, there’s much more to it than that – financial freedom is also actual freedom.
When you have a steady passive income you can organize your life more freely, take a break whenever you feel the need to and start side projects on your own time.
Choose where you live and work
Trading is done online and there’s no exchange market to go to when you need something done. This means that you can live and work equally effectively anywhere in the world and at any time. Most of the time, people working in finance are obligated to confine their life to large cities which can be a problem for those with families. Working in forex means that you can put your family and your comfort first.
The trade goes on 24/7 which is an additional advantage that allows you to follow the time zones and focus on the currencies that are available at the moment.
Background doesn’t matter
For most high-end corporate jobs, your professional and academic background needs to fit the needs of the industry. This is getting to be increasingly difficult because companies are looking for someone with enough experience, who doesn’t need time to catch up. Landing your first job is, therefore, the hardest.
This isn’t relevant at all for starting a career in forex trading. Anyone with enough money to invest can try it and get good at it by failing and learning from their mistakes. It’s also possible to hire the services of an FX broker to help you out and diversify your investments from day one.
It’s often said that you need to spend money to make money, but people rarely realize how true that is until they actually start a business of their own. For most businesses, the overhead bites quite a big chunk of your income, and that’s something you just have to deal with.
There are no such problems with forex trading, since most of the process is automated and organized by default. Your biggest expense s is going to be tax-related because there’s no way to get around that.
No tech requirements
Tech has become the most important part of organizing businesses. It affects how well your marketing team is doing, how good your customer service is and how productive the company is as a whole. It’s a huge problem for small businesses who have to compete with larger ones, because tech updates set their budget back every couple of years.
Trading in forex requires no technology update whatsoever, because any computer with a good internet connection will do. You can trade from your home and on your personal computer just as well as you could from an office.
Being in charge
In the end, there’s nothing as rewarding as being in charge of your professional life. There are a very few jobs that allow that kind of control and freedom. Most of the jobs require you to work with others and, therefore, to be affected by their work even when you don’t plan to be.
Being in charge of your earnings and business in general may prove to be more difficult than you think because that also means that you have nothing to fall back on in case a trade goes wrong, which will happen from time to time regardless of your skills.