For a lot of us trading is a hobby. We trade in our spare time and have it as additional source of income. In the meantime, there are actual traders who managed to make trading their only source of income meaning they went full pros and are now able to trade for a living.
But is it such a good plan? Is it better to be a pro or to have trading as a hobby? This is the question that we are going to answer over the next few days.
Today we are searching for an answer whether it is better to be a pro and have trading as your job rather than your hobby?
In case you missed the first part it can be found here.
CONS:
1. You do not have a stable income.
2. There is no safety net.
3. There is no discipline.
4. It all depends only on you.
5. You need to learn a lot.
1. You do not have a stable income.
In trading everything depends on your success rate. And the higher it is – the higher your earnings are. But in the end everything comes down to how really lucky you are and how much time you are willing to pay to this. The more it is – the more money you are going to have.
2. There is no safety net.
If you lose – you lose. You need to have a strong back and a very big monetary pillow in order to have some kind of insurance. Without it you are going to have a very hard time trading and losing.
3. There is no discipline.
With free schedule you are not going to have any discipline. It all ties up to your personal motivation. And in case you are going to have to go back to office you might have a hard time adjusting to having a schedule, a boss and a lot of responsibilities that go beyond your personal one.
4. It all depends only on you.
You have no one to rely on. All of it is your responsibility only. And the deeper into trading you go, the more you are going to depend on yourself and yourself only. No pressure, just cold harsh reality.
5. You need to learn a lot.
Well, if you are in trading you already know it – you are going to depend on a lot. And knowledge is one of these things. The more you know the more successful you are. But here it is worth to mention the learning takes up a lot of time and a lot of energy that you absolutely are going to tear out of your every-day life.
So, these are the disadvantages of trading as a job. Could you do it?
