The popularity of trading forex has immensely grown over the recent past.
A lot of folks with or without a good financial background have been drawn to forex thanks to its advantageous characteristics such as accessibility, being decentralized, open 24 hours, and high liquidity.
Moreover, the fact that a vast section of the population on the globe accesses the internet, barriers to getting into forex are now quite low.
As a result, a plethora of traders is now even considering leaving their jobs to become full-time forex traders rather than being part-time traders.
But, the big question among most of them is, can trading forex be a full-time job?
One thing for sure, with proper forex education, one can reap big from the forex market. However, at the same time, huge loses are also a possibility.
Therefore, becoming a full-time forex trader has got its advantages as well as disadvantages. Let’s look at some of the top advantages of full-time forex trading.
Flexibility like no other
Being a full-time forex trader means you’re free from the limited office hours.
The market is open 24 hours a day all year, and it means that trading full-time frees time to design a personal trading schedule without thinking about getting late to work or even staying at the office too much.
Moreover, it leaves you with more time to deal with other family issues as you’ll have an entire day to go around everything.
When trading full-time, you develop some fixed periods during the day, and hence automatically organize the trading.
As a result, you become more disciplined as well as offer opportunities for improving the organization level in all forex trading aspects.
Full Training Sessions
Another advantage of full-time training is the fact that you’re flexible in picking a working day, which will include a full trading session.
Forex trading requires a lot of understanding to stay ahead of the profits.
Sometimes trading part-time won’t offer enough time for you to earn, but full-time trading will. Since you’ve got all the time, you’ll be able to learn from experience, as well as from the wins and losses.
Moreover, you’ll have enough time in between your trades for reading various forex reviews and then analyze personal trading history.
Getting the Best from Pivot Points
In forex trading, making use of the pivot points as well as the auxiliary levels of resistance and support is very much effective.
Trading full-time allows you to easily follow the trend even through all levels, unlike part-time traders who can miss the opportunities as a result of pivot points.
During the news releases, the forex market tends to have the best opportunities that traders can take advantage of.
Unfortunately, for part-time traders, they may not have that opportunity as they may be engaged with office work.
However, full-time traders benefit as they can react almost instantly to these forex market news fast and accurate.
The forex market is very extensive and at times, requires that you get some extra information from other traders on what they might be doing right or wrong.
Therefore, trading full-time gives a trader more time for communication with others.
For instance, most forex platforms include an inbuilt online chat platform; hence, traders can have some little chats.
A Plethora of Trading Opportunities
Unlike a random 2-3 hour trading day, a full 7-8 hour trading day is capable of yielding a plethora of opportunities.
Moreover, one can decide to look at the lower period timeframes to find even many more opportunities.
In general, trading forex has a lot of benefits, which are even multiplied when you’re a full-time forex trader.
However, you have to be aware that, while full-time forex trading has several advantages, there’re also some advantages.
Nevertheless, the fact that the merits of full-time forex trading outdo the demerits; it’s, therefore, an excellent option to go for once you decide to quit your job.