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Trading Forex as a Side Hustle vs Trading Full-time

Trading Forex as a side hustle or fulltime

Online Forex Trading is doable and is for anyone willing to partake in the $6 trillion worth of transactions on a daily basis.  Anyone in any or no job, any part and corner of the world for 24 hours a day 5 days a week timeframe. So, the dilemma is, Trade as a Side Hustle or Full-time?

Trading Forex is the best way to invest in the money markets because it is relatively easy, safe and not to mention the risks and rewards. It is perfect for beginners because Forex is kind of like a game or an art  where you get to develop the skills and perfect them over time. There are various options available when it comes to Foreign Exchange Trading. Currencies, Commodities, Shares, Cryptocurrency and much more. All these available for one prepared to join the traders community if you may. 

Therefore, anyone willing to put their skin in the game, in order to have some noteworthy wins, you have to consider how involved you want to be as a Forex Trader.

The Pros of Forex Trading

Trading the Financial markets is flexible. You do not need a specific set of knowledge, experience, skills, or language, to get started. You could start trading any day of the week and each day it will be different, so it will be easier for you to do something. 

It’s fun trading as a part-time job and has a lot of entertainment involved, so you would love to see it daily to be successful in it. It will be a lifestyle that you could take up, to see you become a successful day trader, scalper or a swing trader, just like any other hobby you enjoy. 

You can do it anytime and anywhere. You do not need to travel or fly anywhere to trade it. 

It is a great savings potential. Reward is more substantial. When trading full time you will definitely get more rewarded than when you’re trading on the side. When trading full-time you get to learn and experience the basics of forex trading, technical analysis, fundamental analysis, qualitative analysis, risk management and other money management skills that you might not easily grasp trading on the side.

Strategy for Trading Forex

Forex has various trading strategies with no rights and wrongs. In order to make good use of your time on a full-time basis, you need to know exactly what other traders are doing. Most traders know a great deal of in-depth strategies, hence those trading as a full-time job have the luxury of learning, understanding and implementing them. You equally need to hone in on a specific strategy which you will develop and test over time. 

Here is a word of advice for you who desires to become successful at trading forex as a side hustle. The kind of knowledge you need to acquire is a lot and to acquire it, you need to be diligent and dedicated. A great number of traders who plan on trading for their own side hustle think of themselves as people who want to make money in no time and are almost instant gratification people. Therefore, plan and treat trading as a long term plan by delaying your gratification.

Conclusion

While not everyone has the determination and discipline, I strongly believe trading is not something that should be given only to the professionals and therefore more is needed. Trading as a Side Hustle is doable and is for everyone to partake in. But there are a few benefits of trading full-time. It is exciting to work in a field where you can learn and improve at a fast pace. The challenge is to manage both your business and your day job. When you are trading full-time, you can take more chances and if you make a mistake, you can quickly resolve it and continue. 

Join us to begin the journey with you to becoming a successful profitable trader with Kenya’s most trusted forex trading training institution where you will get the most out of our training offering, consistent and dedicated mentorship and live funded accounts for 30 days.

www.nairobischoolofforex.co.ke

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