Forex trading has recently become a lifestyle changing career that many young people have begun to adopt. To say the truth, forex trading has become one of the most lucrative careers mostly because of five reasons:
- The flexibility of this type of work that allows traders to live the life of a digital nomad
- The attractive return on investment
- The fact that forex trading allows you to be your own boss
- The job security
- The infinite possibilities
Let’s break down these reasons and look at each one in detail
Flexibility that facilitates the lifestyle of a digital nomad
Travelling is an education.
Each time you venture outside your home town, you get to learn lots of things, meet people from diverse backgrounds who may sometimes end up becoming business partners in the long run. In recent years, travelling has steadily climbed up most people’s list of needs. And to support their daily needs people need to have steady sources of income. The use of mobile technology has empowered people to allow them make money from the forex market thereby creating a steady source of income regardless of one’s location.
The attractive return on investment
Every forex trading session worldwide translates to well over five trillion dollars exchanging hands. This means that if you are a consistently successful trader, a fraction of these funds could end up in your pocket. The only problem here is that only one out of every ten traders actually make money from forex traders. The other nine are consistently on the losing end of trades.
If you can create a trading strategy, test it, back-test it and make sure that it gives you at least 80% profitable trades, then you will consistently make money. This of course means that you also must have a great risk management plan that prevents your trading account from going ‘bust’ each time you encounter a losing trade. Leverage and position size are two very important assets that one can use to make great profits. At the same time, if misused, these two factors could end up causing you to lose all your money.
The power to be your own boss
Unless you are employed in an investment company, forex trading allows you to be your own boss. As you may have realized by now, brokers give you full control of your trading account. This means that you are in full control of the trading terminal (MT4). The trading platform is accessible using any mobile device.
So what you need to do is to set your own targets and achieve them as you please. Forget the pressure that would normally be on your case to achieve the targets that have been set for you by your superior while you are working a 9-5 desk job.
Unlike traditional jobs where one could easily be fired, this is not the case when you are forex trading using mobile technology. As we had already discussed, when you get into forex trading, you become your own boss. You wake up when you want, trade when you want, travel when you want and make as much money as you want, the control is in your hands therefore the job security is also in your hands.
The most common reason that often stops people from trading is lack of funds. Otherwise, no one can fire you from trading in the many forex markets around the world.
Getting a white or blue collar job often meant that you have to stick to your lane. What your job description states is what you should do 8hours a day, for five days a week. However, with forex trading, the possibilities are infinite. There are numerous assets to trade from the currency pairs, to commodities, options to derivatives and the likes. You can choose whichever asset you like and trade it as much as you want. All these assets are available for you trade using both desktop computers and mobile devices.
In case your favorite asset is not offering good trading opportunities, you can simply switch to another asset and look for a better trading opportunity there.
The good thing about trading using mobile technology is that you can do all this even while on vacation in the Bahamas. All this goes to show how much mobile devices have revolutionized the world of forex trading.