Do I have enough time and money to start trading?

Irrespective of your time commitments and monetary situation, there is definitely a segment for you to get into trading in the markets. Most of the world’s traders are not men in suits sitting in a bank or trading floor, rather, they are primarily composed of everyday working professionals who put their money into markets for investment purposes or as a hobby. If you decide to trade, please do it as a professional. Even if it is not your main job, you should still develop all the skills of the professionals, use the tools to be successful, and commit yourself to being an accomplished trader.

 

Time

Many people are concerned that their commitments as a full-time employee, working professional, parent, etc. will be a deterrent for their ability to be effective traders. While there are many people who day-trade and have extensive backgrounds studying finance and related subjects, that does not mean that the skills acquired in different fields of life are not useful for trading and being successful in the markets. With the advent of modern technology, there are a plethora of online resources that give beginners opportunities to learn the markets on their own at the pace of their choice. 

 

Money

For those who think that they need to start out with a lot of money into to enact large returns, there are many markets out there that involve opportunities such as high leverage positions that you can take on assets. This means that you only have to put up a relatively low amount of money for a potentially high return on investment (ROI). Of course it would be unrealistic to think that you would be able to make hundreds of thousands from a thousand dollar investment, however, it is important to remember that there are opportunities out there for everyone to make money and that it is all about finding your niche and specialty in the market.

 

Summary

Altogether, no one should feel deterred from getting into the forex, futures, options, or stock markets because of fear about a perception that they cannot be successful with limited time and capital. There are a plethora of resources that one can use now to educate themselves on the markets such as Quora or BetterTrader that can provide all the basic training and advice that one needs to be successful. 

The most important thing, however, is the commitment that prospective traders need to have in regards to learning and sticking to the rules. The discipline and poise required of traders is a quintessential trait that is paramount to their success. Whether or not your trades are gaining or losing money, you need to trust the process of your developed strategies and ride through the highs and lows. This factor is more relevant than both your time and money and if you are unable to stomach going through periods of continuous losses, perhaps trading is not for you.

 

A bit about BetterTrader:

Better Trader provides the best analysis that interprets economic event releases and market movements into actionable insights in real-time. The company was created by a team led by day traders with real insights and experience on the world’s biggest exchanges and will help you achieve your trading goals at all levels and markets with the company specialization being in Forex and Futures markets. For those who have scrupulous time commitments, the BetterTrader mobile app is perfect for on-the-go news regarding economic events, essential times and dates, and recommended trades that result in substantial gains.