Should you quit your job and start trading Full time?

I am sure every trader at some point has come across that question in their career at some point. The freedom of working from home having to answer to no one may seem tempting but there are a few things to consider first before becoming a trader full time and today we are going to discuss them

If you plan on trading full time then you need to protect your funds and livelihood by using a trusted broker who will not mess with your capital. To find such a broker I recommend you use WikiFx. This app helps you find the best regulated and verified brokers worldwide. They also show you which brokers are scammers so that you can avoid them before you get involved with bad businessmen. Finding a good broker means you can always rest assured that your rights are being protected and your broker is not misbehaving. So try WikiFx if you are looking for a broker.

Reasons to not become a Full Time trader

If you have been trading for any amount of tive and your profits or earnings still do not out do your current earnings as an employed individual then it is not advisable to trade full time. If you quit your job not only will your income be cut by virtually half if not more and now all the expenses will then be pressured on your trading earnings. Not to say it is impossible, but the additional pressure to cover expenses, still maintain the same level of life and make greater profits will encourage you to over risk and over trade. And if by chance you blow that account you will not have a source to fund a new account. So if you are still earning more at your job that what you trade, then stick to the job.

If you are new to trading with not a single year of experience under your belt then it is highly advised that you do not switch to trading full time. Even if you are experiencing moderate success there are going to be times when you are not in a win streak. This can be discouraging and it is best to gain that experience first with the support of an additional income as opposed to not having one

Reasons to Become a Full Time Trader

If you have years of experience and you are able to double your job income then and only then can you think about trading full time. And it is usually safer to do so when you have used your trading earnings to invest in some other money making stream so as to replace the job income stream as opposed to just abandoning an income stream.

Another way to see if you are ready to trade full time is the size of the funds you have to trade. If you are able to live the life you want to live by gaining about 3 to 4 percent of your account a day then you are able to quit your job, live a good life and feel no need to pressure your account to make you money. The basic principle behind trading full time is creating a condition where you don't have to unrealistically trade or over trade in order to fund the lifestyle you want to live.