Trading For A Living— Is It A Good Idea?
Full-time trading sounds like a sexy idea that many romanticize with. And why not really! After all, the returns from stock investments sounds like easy money.
However, the most important question that many forgo in the gleam-glam is whether this is a good idea in the first place or no. Should you trade for a living? Because let’s admit it, many dreams about it but only a handful of them manage to pull it off. And even those who are living as a full-time trader, they aren’t necessarily breathing gold. They have their own professional struggles.
So again, should you trade for a living?
The answer is NO.
Hold on though. Before you scrap all your dreams and plans, and get supremely upset, here are few of the reasons why being a full-time trader isn’t so very sexy as media has had you believe:
It’s not a quick money scheme
Some people wrongly believe trading to be a quick-bucks game. Needless to say, it’s far from truth. Even when you’re making short-term trades with the best strategy, you would only make marginal return. Nothing is easy on this domain. Millions have gone broke in their quest to make some fast cash. Do you want to be one of them?
Also Read: Market and Myths- Are You a Victim?
Learning never stops here
For majority of profession out there, the learning stops as soon as you complete college. This is the not the case with trading though, where the learning curve stretches for as long as you decide to stay in the market. To adapt to the dynamic market and to successfully counter new challenges, you’re going to have to keep on learning, reading books, analyzing data and taking relevant training courses.
There are easier career alternatives
Trading isn’t easy. It’s taxing on your emotional and psychological health, which goes on to reflect on your physical health. There are much easier career alternatives that you can take up. Some of them even pay much higher.
You need to work really very hard
Be it reading charts, cluttering through countless news, or adapting to new trends—it all requires tremendous amount of hard work. To that, it’s not even a one-time thing. You’re going to have to be consistent in your efforts to maintain the returns. Even waiting for the right opportunities requires a great deal of patience and hard work.
A successful future isn’t guaranteed
In the trading world, even when you have the best strategies working for you, nothing is guaranteed. And at a time when we’re all looking for a secured future, this is a big bummer for all those dreaming to be a full-time trader. While your future would largely depend on your wealth management skills, how much money you will make in your next trades is never certain?
These are 5 simple reasons why you shouldn’t really opt to take up trading for a living. But if you’re really passionate about it and think you can tackle the challenges successfully, take a step today and become a full-time trader.