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.

Editors’ Picks

EUR/USD stalls below 1.1500 as Fed holds, Trump comments lift Dollar

EUR/USD stalls below 1.1500 as Fed holds, Trump comments lift Dollar

The EUR/USD trades almost flat after climbing past the 1.1500 figure, following the Federal Reserve's decision to hold rates unchanged, amid increasing tensions in the Middle East. This, along with comments from US President Donald Trump, boosted the Dollar, capping the Euro’s advance. 

GBP/USD holds steady post-FOMC, BoE on deck

GBP/USD holds steady post-FOMC, BoE on deck

GBP/USD spun a circle on Wednesday, rising and falling through the Federal Reserve’s latest rate hold. Cable is caught in intraday consolidation near the 1.3400 handle, as Pound Sterling traders gear up for the Bank of England’s own interest rate decision, due early Thursday.

USD/JPY struggles below 145.00 amid reviving safe-haven demand

USD/JPY struggles below 145.00 amid reviving safe-haven demand

USD/JPY remains depressed below the monthly peak retested the previous day as a softer risk tone benefits JPY. USD struggles to capitalize on the post-FOMC rise to a fresh weekly high, which weighs on the currency pair. However, reduced bets for another BoJ rate hike in 2025 hold JPY bulls from placing new bets and limit deeper losses.


Editors’ Picks

AUD/USD flat lines around 0.6500 ahead of Australian employment details

AUD/USD flat lines around 0.6500 ahead of Australian employment details

AUD/USD oscillates around the 0.6500 mark during the Asian session on Thursday, awaiting Australian jobs data before a firm intraday direction. Trade uncertainties, rising geopolitical tensions, and the Fed's hawkish pause weigh on investors' sentiment. This, in turn, acts as a headwind for the risk-sensitive Aussie.

NZD/USD trades with mild gains above 0.6000, New Zealand economy grows faster than expected in Q1

NZD/USD trades with mild gains above 0.6000, New Zealand economy grows faster than expected in Q1

The NZD/USD pair trades with mild gains near 0.6030 during the early Asian session on Thursday. The New Zealand Dollar strengthens against the Greenback due to the stronger-than-expected New Zealand’s Gross Domestic Product report.

Gold price bounces off weekly low; bulls seem reluctant amid hawkish Fed

Gold price bounces off weekly low; bulls seem reluctant amid hawkish Fed

Gold price attracts some dip-buyers during the Asian session and reverses part of the previous day's slide to the weekly low amid a revival of safe-haven demand, bolstered by trade uncertainties and rising geopolitical tensions. Moreover, a subdued USD price action acts as a tailwind for the bullion.

Australia unemployment rate expected to signal a broadly stable labor market

Australia unemployment rate expected to signal a broadly stable labor market

The Australian Bureau of Statistics will release the May monthly employment report at 01:30 GMT on Thursday. The country is expected to have added 25K new job positions, while the Unemployment Rate is projected to hold steady at 4.1%.

In the Eurozone, inflation is also a monetary phenomenon

In the Eurozone, inflation is also a monetary phenomenon

Monetary aggregates continue to be closely monitored by the European Central Bank (ECB), a sign that, despite the passage of time and the increasing complexity of financing circuits, quantitative theory remains relevant. 

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