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Category: Careers

Can You Make Forex Trading a Full Time Job?

Can You Make Forex Trading a Full Time Job?

You eat up every last bit of market data available and Bloomberg is always on in your office. Trading isn’t just a hobby it’s your passion. Choose a job you love, and you’ll never work a day in your life, but is a professional Forex trader a viable and sustainable career choice? And what are the steps you have to create this exciting career path as a professional Forex trader. Let’s take a look.

Step 1 – Strategy

The difference between hobbyist and professional is consistent income. In trading terms that means consistent returns on investment. If you are so passionate about trading then I am absolutely sure that you have a strategy in place. It could be based on technical or fundamental data, (although its probably a better idea to use both) because forex trading as a career without a strategy, is like jump roping on the edge of cliff. Although you might be successful for some time, eventually the fall will come.

To transition into more professional trading, being able to prove consistent returns is important. This shouldn’t be confused with a no-loss strategy (a unicorn or silver bullet strategy if you will), anyone on the markets knows that loss is part of trading. Overall though if your accumulative losses and wins keep you in the black then you have paved a solid path to professional trading.

Step 2 – Save

Most articles about how to trade are usually sell, sell, sell. They claim that you can trade with any amount (which is true to a certain extent) – but the truth is to be a professional Forex trader, you will need a bit more “heft” behind your trades. What I mean is that you need a slightly more substantial trading account if you intend to go pro. Most analysts say that $10,000 is a good starting level, because this means you won’t be as heavily dependent on leverage, which can skew your risk/reward ratio towards risk. For example, the chart below shows a movement of 53 pips at the opening of the market – which let’s say would be a $53 return with a $1000 position, but equates to $530 with a $10,000 position in an ideal scenario.

If your strategy is intraday – a more substantial account can help make smaller movement more profitable. Another benefit of trading with a bigger account is that it negates the need for high leverage. With a smaller account to make a trade that is significant enough you would have to use a high level of leverage – and a smaller move against your position could blow your account.

Step 3 – “The Back Door”

There are other methods to trade forex as a career – one is becoming a money manager. It’s not an easy gig to get into – you need a proven track record of between 2-3 years with documentation and a license within whichever jurisdiction you have clients. Of course, the license will also benefit you professionally as it would be extremely challenging to convince anyone to give you thousands of dollar, euros or pounds without any professional certification.

Another way to launch a career as a professional forex trader, is by partnering with a broker that offers an affiliate program. If you have a blog or a strong social media presence, then there are programs that allow you to point potential clients towards the company you are partnered with. Although it isn’t directly related to becoming a professional, this can be a jumping board for developing credibility and a pool of clients to draw from when you are ready to transition.

No matter how you choose to launch your career as a professional forex trader, partnering with a forex broker with risk management tools, an intuitive platform and fair trading conditions – that help the trader not the broker – can make achieving your dream just a little less challenging.

Working for the NHS

Working for the NHS

Choosing a career deserves thought. While you’ll move from job to job over the course of your working life, it’s much rarer for people for change their entire career in midstream. Building to a position of success in any career is the result of long hours of training and work, not just to acquire the qualifications you need for the particular industry you’ve focussed on, but also to prove yourself at a junior level before you can ascend the ranks.

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Things to Remember to Ace Your First Day at Work

Things to Remember to Ace Your First Day at Work

Your first day at work can be both memorable and stressful. You are excited to meet new friends and your new boss but at the same time, you might also feel a bit of pressure about meeting them since you don’t know if they will like you or not. You might be stressed about what you should wear on your first day because your primary goal is to impress everyone.

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3 Ways to Prepare Yourself For A Stressful Time At Work

3 Ways to Prepare Yourself For A Stressful Time At Work

Not much in life can be harder on your mental and physical health than having extreme stress at work. Because people’s jobs are what primarily allows them to live the type of life they’re accustomed to, the chance of losing your job as a result of something that’s causing you stress at work can turn this stressful situation into a vicious circle of problems. Luckily, there are some things you can do to prepare yourself for a stressful time at work, whether it’s because you have a big review course coming up or you’re clashing with your boss. So to help you maintain some sanity in your life, here are three ways you can prepare yourself for a stressful time at work.

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Are You Ready to be a Teacher?

Are You Ready to be a Teacher?

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A lot of young people want to be teachers in the beginning but they often change their mind a few months or maybe even a few years down the line. The answer to why that happens has a lot to do with the fact that most people aren’t psychologically prepared to be a teacher and their expectations end up clashing with the reality of the situation. To help you find out if you are meant for teaching, here are a few key attributes that every aspiring teacher should possess.

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3 Ways to Keep Up to Date on Your Job Skills

3 Ways to Keep Up to Date on Your Job Skills

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3 Ways to Keep Up to Date on Your Job Skills

Whether you are an employer looking to improve your staffs knowledge or someone who has been within a company for years but need to catch up on some of the latest techniques, keeping up to date with skills that your job requires is vital. In this article we will be exploring 3 ways you can increase your skill level in your work environment: research, peer to peer learning and training courses. We will start at the simplest and most cost effective way though research, and move onto the more reliable way of gaining accurate information through training courses.

Research

In the modern workplace it’s difficult to find time for self-development and sometimes you will need to use some of your personal time on self-improvement. Researching a related topic and learning about it can be by far the most cost effective and quickest way of learning the most relevant and job crucial information. Whether you sign up to an online training course to simply looking into articles wrote about your chosen subject can dramatically improve your knowledge on that subject, helping you achieve a better standing in your workplace. In most workplaces you will need to learn new things and sometimes these skills are not taught by a colleague or course, but rather through your own personal research into a field.

Peer to Peer learning

Some of your colleagues will know about a subject that you may not, or might know a particular part that you need help with, this is why peer to peer learning exists, to help even the blanks between employees. This is also known as on the job learning which is becoming more and more common. Employers are not employing their staff on their skill basis but rather on their ability to work in the environment and show great enthusiasm. This allows other employees to help train the new member in what the job entails which in the majority of workplaces is completely different.

Training Courses

Training courses are one of the most effective way of learning applying both research and peer to peer learning with the knowledge of a dedicated instructor.  Training courses usually consist of a group of individuals all learning about a subject allowing them to gain knowledge from an industry expert. In these environments there is always the peer to peer learning aspect which comes from a member of the course helping another, there can also be a high level of research that can take place between times throughout the course.

An example of a provider of such courses include MPL Locksmith Training whose clients have stated that the training courses they have undertaken have allowed them to not only improve current skills but to learn new skills which allows their business to offer new services.

Not all training courses may be in small groups and some can be in large groups such as conferences which in the most case consist of a keynote speaker who will discuss the bulk of the information in an easy to take in fashion. This can be an effective way of learning as the speaker can cover a huge amount of information in a quick manner.