It comes to a point when the old 9 to 5 just doesn’t cut it anymore. For some it comes sooner than others, and for some that means they can’t just retire and enjoy some well-earned downtime. If the itch to do something other than work for the man comes at an early age (or even if it does hit later on, to be fair), and you want to try trading for a living, it really can be done. Honest.
If It was That Easy Everyone Would Be Doing It!
Now we didn’t say it would be easy. Far from it. There is a lot of time, effort and research – not to mention investment – that goes into trading for a living. You can’t just jump in feet first and assume all will be well. But then, there are many careers where you can do that and get away with it. As for everyone doing it, well, that’s up to them – they could if they knew the secrets!
You’ve Got To Love It!
Trading is one of those things that can be terribly exciting at the beginning and then that excitement fades away as the reality – and hard work – kicks in. Not everyone is cut out for trading for a living; it’s only the ones who truly, deeply love trading that get to do it for the long term. It makes sense. After all, why would you want to do a job you don’t like? That’s why you’re giving up the 9 to 5,remember?
Wait For It… Wait For It!
Patience is most definitely a virtue when it comes to trading for a living. Making sure the form is correct, checking that your chart really does match up, waiting, waiting, waiting for the right trades to come along… It can get the best of some people, especially those who don’t have it in them to be in it for the long haul. It’s okay not to have that kind of personality, it can’t be helped, but it’s not okay if you’re trading for a living because you’ll find that you begin to make crazy trades simply to have done something that day. And that’s how the money runs out.
You Must Be Disciplined
Don’t be tempted to stray from your set plan if you’re getting anxious about not trading. Discipline means sticking to the plot no matter what. You’ve spend a lot of time making sure it’s right, and now is not the time to forget all of that hard work and rush headlong into something that will net you a big fat loss.
Take A Risk… But Be Sensible
Trading for a living means constantly taking calculated risks, and, despite everything, there is always a chance that you could lose. Doing your homework beforehand, making sure your chart matches the trade and not picking something that falls short of your target will all help, but sometimes things happen that will be out of your control – and it happens to everyone. The key is only to trade with what you can afford to lose (just in case). Otherwise your ‘living’ won’t be paying the mortgage for very long.
Any opinions expressed by our company’s representatives regarding the prices of specific currencies and the direction they will take in the future are purely opinions and are used for demonstration or training purposed only. They do not necessarily represent the opinion of Thelazytrader.com are NOT guaranteed in any way. In no event shall Thelazytrader.com have any liability for any losses incurred in connection with any decision made, action or inaction taken by any party in reliance upon the information provided verbally or via the Internet, or any delays, inaccuracies, errors in, or omissions of information.
Follow us on Telegram
Stay updated of all the news
AUD/USD bears in the market, chipping away into key support
AUD/USD bulls look to the 38.2% Fibonacci of the prior bearish leg and then 0.6725 which guards a continuation higher. Bears are in the market and eye a move deeper into support.
EUR/USD bears flirt with golden Fibonacci ratio, focus on 1.0765-60
EUR/USD seesaws around 1.0830-20 as the key Fibonacci retracement level probes bears during early Friday, following the Euro pair’s U-turn from a seven-week high the previous day. The Euro marked the first daily loss in six on Thursday as it failed to cross the two-month-old horizontal resistance area surrounding 1.0930-35.
Gold aims to shift business above $2,000, US Durable Goods Orders eyed
Gold price is oscillating in a narrow range of $1,990-2,000 in the early Asian session. The precious metal is struggling to shift its auction above the psychological resistance of $2,000. However, the upside looks favored as the Federal Reserve (Fed) has come closer to halting its policy-tightening cycle.
Arbitrum airdrop flops, but ARB still makes it to a commendable all-time high. Here’s what happened
The token launch for Arbitrum was quite bumpy, to say the least after users could not claim their airdrop tokens for the first one hour post-launch. The turn of events was very disappointing, given that users had been waiting for a week for the highly-advertised ARB airdrop.
Is the banking crisis over, or is the worst yet to come?
When the Fed started signalling higher for longer last summer, everybody assumed that the first thing to break would be consumption, followed by big job losses. Few anticipated that the banking sector would get caught up in the crossfire of the Federal Reserve’s battle against high inflation.
Making money in forex is easy if you know how the bankers trade!
Discover how to make money in forex is easy if you know how the bankers trade!
5 Forex News Events You Need To Know
In the fast moving world of currency markets, it is extremely important for new traders to know the list of important forex news...
Top 10 Chart Patterns Every Trader Should Know
Chart patterns are one of the most effective trading tools for a trader. They are pure price-action, and form on the basis of underlying buying and...
7 Ways to Avoid Forex Scams
The forex industry is recently seeing more and more scams. Here are 7 ways to avoid losing your money in such scams: Forex scams are becoming frequent. Michael Greenberg reports on luxurious expenses, including a submarine bought from the money taken from forex traders. Here’s another report of a forex fraud. So, how can we avoid falling in such forex scams?
What Are the 10 Fatal Mistakes Traders Make
Trading is exciting. Trading is hard. Trading is extremely hard. Some say that it takes more than 10,000 hours to master. Others believe that trading is the way to quick riches. They might be both wrong. What is important to know that no matter how experienced you are, mistakes will be part of the trading process.