Is it advisable to quit your job for forex trading?

[Lens1000]

Forex it is very difficult form of investment and it is of high-risk. This is the major reason why you need to be very careful when you want to invest in Forex. I have seen so many people quit their job just to invest in forex trading because they believe that they could reap lot of profit from this venture.

However, it is advisable that you should equip yourself on the basics of forex before you could plan to quit your job . Quitting your job wouldn't be the solution if you do not have a good knowledge around forex trading.

People that could quit their job for forex trading are the ones that have a good knowledge around it and have traded live account making a huge amount of profit from it. I have a friend who is an expert in Forex, he quitted his job for forex trading and he is doing well presently. He has so many people that he sells signals for and he is making huge amount of money from this. It is however not easy to study forex because it is a very wide niche.

If you have it at the back of your mind to quit your job for forex, you will have to brace yourself to study more on the market movement or market sentiment and you would need to have a good knowledge around the use of indicators. Also, the appropriate use of the pure price action is also necessary. It is equally important to have the knowledge around the candlestick patterns.

 

[Augusta]

I don't it is advisable to quit a job for another stream or income that can be done on a part time basis let alone the one that is classified as a passive hustle. The main job one has should remain so until one is ready to retire while still keeping other side hustles to help one have more money or pick up ones bills

I don't think there's need to drop one and pick up another full time just like forex trading that one can easily do as a side hustle and morever forex trading is risky and anything can happen along the way. So it will have been foolishness on the path of anyone to quit a stable job for what is not stable.

instead it will make a lot of sense if one would be able to combine them. My uncle has been combining forex trading with his federal government job and I don't think it has affected him in anyway by trying to run the two hustling at the same time.

So if one has the skills to trade on forex which is highly risky then time should be created to accommodate both of them and more money will be made.

 

[Sotherefore]

There is nothing wrong with you quitting your job to focus on forex trading and investment . But so many things are to be put into consideration when trying to make this decision . You have to be very sure of making profit from your forex investment as it is the most important.

It would be the worst decision if you are not able to make profit from forex trading , because in this case you will lose your job and you won't be able to make money to sustain you every day if you are inexperienced .

Because of this , for this action to be taken , you must be a professional trader and you should be able to trade forex perfectly on your own with profits constantly for at least 5 months to one year . From there you will understand if its worth quitting your job to concentrate in the forex as a professional .

If you are just interested to start this now, the most important thing you must do now is just for you to make sure you learn and understand forex very well, you must first of all be a professional trader first .

 

[Femzy]

Forex trading requires time to master the techniques and emotions involved. you can quit your job if you're confident that your strategy can earn you twice what you make in a month from your job

 

[sincerem]

I've come across this type of question around someone online, maybe in another community, okay, no problem I have to contribute to this too.
when it comes to trading, it has its own risk, such kind of risk taking doesn't warrant an individual quitting his or her job to focus on it. Their are lots of things to engage on and make cool money and not quiting our full-time job for forex trading. Forex trading can be done part time, and not something you'll monitor your trade 24/7. You can be in the workplace and regulate your time, and share it by checking out your trade and also trading too. Everything depends on how good you are when it comes to risk management.

 

[Suba]

To leave the main job of being a forex trader, of course, at least our trading skills are already at post intermediate or advanced, so it's not a basic level, we still have to learn the basics of forex trading. If you want to become a day trader, it is difficult if you are still working in an office, because day traders need a lot of time to find information for fundamental analysis. It's different if you trade only as a distraction in your spare time. So it is advisable or not, to leave your job for forex trading it depends on each individual and the answer will always be different.

 

[Ayuba Ernest]

Forex trading is one of the most popular ways to make a lot of money in a short period of time. It is also one of the most risky. Many people are attracted to forex trading because of the potential to make a large amount of money in a short period of time. However, this also means that it is possible to lose a lot of money in a short period of time.


Before quitting your job to become a full-time forex trader, it is important to do your research and understand all the risks involved. Forex trading is not for everyone, and it is important to do your research before opting in to become a full time trader.


One of the biggest risks associated with forex trading is the potential to lose money. You could lose all of your investment if you are not careful. In addition, forex trading can be very stressful. You will be dealing with a lot of money and you will be under a lot of pressure to make profits rather than loose them. You may not like to loose your hard earned money with just a blink of an eye, and at such it requires strict monitoring which means spending. huge amount of time on your PC.

 

[Flow-er]

If you really want to become a forex trader on the full time basis, you will need enough time because forex trading does not want distraction because you will need to get news which is equivalent to the fundamental analysis . There are some major news that you must keep track of and this major news are very relevant in whatever you how analysis you want to carryout.

The impact of the major events is also important and that you should try as much as possible so concentrate full-time because you will need to follow the market trend . The fact remains that if you want to trade Forex and you are serious about it if, you will need to quit your job. it doesn't matter if you are expert or you are not an expert, what matters is that you need enough time to study the market sentiment and if you are working you cannot concentrate on what ever you wanted to do hundred percent.

This is why it is very necessary for you to get yourself involved in technical analysis of the market so that should be able to predict the market sentiment properly and it needs time.

 

[maidnagi]

It is not a good idea. Forex trading requires years of knowledge and expertise to be a full-time trader. I'd not suggest you leave your regular job until you have started making sufficient and consistent profits.

 

[rahim299]

Most of traders that forex trading is easy and quit their job and invest their hard earned money and later they are broke and quit the trading but a very few has succeeded in it. Dont ever quit your job and you can even trade on higher time frame for swing trading instead of doing day trading.

 

[Brijesh Mckee]

I guess not! You seem to be really excited about your forex trading career but as it is not a regular paying job; you better not leave your job for it. Think of leaving your job when you start making more than your salary on a regular basis. But there will still be a chance of you losing money because of the unpredictable forex trading environment.

 

[Diapason]

No, you do not want to go down this road anytime soon or ever. You need sufficient funds and enough knowledge with experience to quit your job and trade full time. While it brings in financial freedom, it also can increase stress as if you lose because of a silly mistake , you will go bankrupt and not have anything. Instead of investing all you have. Only invest a little bit and see if it succeeds. You won’t win profit overnight. It takes time. So, be patient and smart.

 

[Neuroid]

No, do not think that if you quit your job, you will get a steady income from trading. It is best if you try part time so you can trade as well as pay your bills on time. Sometimes, the market can go down and you may lose your money. It’s not always roses in a meadow, there are thorns and those are the uncertain changes that cause risk to increase suddenly. Please, try to change your approach to positive by taking time setting a schedule that works for you.

 

[Fartsdump]

I won’t advise anyone to quit their job for forex trading unless they are already profitable as a trader. It can be a risky decision if you quit your job and start learning to trade forex from scratch. Since it takes time for someone to understand forex and earn enough profits for a living. It is better to start out as a part time trader and get into full time trading only when you are sure about your trading skills and profitability.

 

[Carpon]

Personally if I were to engage in forex I will not quit my job. And by the way I need money to start the forex trading. Owing to the fact that forex is a risky sort of trade and you are prone to losses, your other job could be your compensation when such an occasion occurs.

If I was to talk about this and refer a yes or no answer to the question of whether to quit your job and focus on forex, I would say no!
Though it is good to focus when doing forex and notice all the changes in the market, you can still balance it and you see that you will have two source of income.
And in case of a loss from forex, you won't go down completely because you have that job that will keep you going. This is my humble opinion about this topic. Thank you

 

[Belomancy]

The best decision in this situation would be to understand the pros and cons associated with the entirety of this kind of move. Quitting your job would be smart if you already have been profiting from the process for say, a year or two, which is not easy to achieve. Hence, if you are confident enough to bring in that kind of returns, then go ahead. Good luck!

 

[Rookery]

No, you shouldn't give up your day job in order to begin trading forex. Trading can be done as a side business alongside your regular job. If, on the other hand, you have a strong desire to become a full-time forex trader, you may want to look elsewhere. The best course of action is to do extensive market research and set aside money from your paychecks to ensure your financial security over the next few months.

 

[Jack Reacher]

Try to catch the market environment first and then open a trade. You can make portfolio with your investment.

 

[HeavLeighGill]

I think quitting a 9-5 job to pursue trading is a common goal. A lot of people are tired of working everyday for someone else and would prefer to stay home and be their own boss, so it makes sense. I don't think having that as a goal is a bad thing, but people shouldn't just up and quit before they start to pursue trading. The best way to go about it is to keep that job, learn in your freetime over a period of time, then slowly transition. You want to be sure that you're making enough consistent profits to pay for your lifestyle.

 

[Asahi]

Market’s direction should be guessed to trade in the right trading range. For so, traders should have enough analytical knowledge.