Trading in general and day trading in particular are very unusual activities in the context of how other people work. If you decide to choose to trade the foreign exchange market as your main money-making activity, then you will find many advantages.
Good characteristics of the day traderOf course, there are also disadvantages. It is not only about high risk, which is talked about so much, but also about the need to constantly learn, develop and take full responsibility for your actions. For many, these are just disadvantages. Most people are used to working halfheartedly, doing their tasks on a C grade, and in case of trouble, stepping aside or going for the “extremes.” If you are not one of those, if you are ready to be a real person responsible for your actions, first of all, in front of yourself, then soon you will be able to enjoy all the pleasant moments in the work of a day trader.
Common Intraday Forex Speculators Chart
The work week of an intraday trader is the same “5 days”, but very unusual. There are several proofs of this:
You can take additional days off if you need to.
The trader has enough free time between cases during the day, because the actual analysis cannot take 8-10 hours a day. There is an opportunity to do other things in parallel.
You can spend up to half of your work time on additional learning, training, experimentation, and gaining experience to improve your performance.
You are allowed to choose your schedule! Usually, at the initial stage, no one does this, but over time, the trader develops a time regimen for himself. He realizes what hours it is more convenient to negotiate for him. Some even choose the night.
A schedule like this is impossible for most people. Its great advantage is that you yourself choose what time to sit in front of the computer. Even people who work from home, for example, hairdressers, accountants, etc., cannot afford that option. They often need to adapt to their clients’ times. There is no such need for a merchant.
At the same time, you get all the benefits of working from home.
Lack of round trips.
No need to get stuck in traffic jams.
There is no need to put up with mean bosses and employees you don’t like.
You are free to act, you can interrupt work and do other things.
You create your own schedule.
You don’t need to sell anything to anyone.
You do not need to be responsible to anyone for the quality of your work except yourself.
The latter has its own peculiarity. On the one hand, personal responsibility is more difficult than in a team. On the other hand, it is less difficult, because you only have to answer in front of yourself. And you also develop the self-discipline of a businessman.
If you have already decided to become a forex speculator, you have a choice: become a long-term investor who enters the market a couple of times a month for big profits in a few weeks, or become a permanent Forex “worker. ”that opens small shops every day