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Should you quit your job and become a full-time online trader?

Siby Varghese an expert in his field and a go-to professional for guidance on investments in financial markets

Published: Jun 29, 2020 01:17:44 PM IST

Should you quit your job and become a full-time online trader?

2020 has been a year of major and catastrophic changes. With the global pandemic shaking the world up at its very root of living, this situation has destabilized many lives and affected their source of income. The chances and means of earning a decent income have also undergone a dramatic change as many professionals now face an uncertain future. They are now actively exploring newer avenues for making money besides the mainstream 9-to-5. While many had to concede with pay cuts, there are others who are on the verge of losing their jobs.

While economies take a beating this pandemic has definitely shone a light on a few good options to earn money. New and unique opportunities have sprung up on our turf and that too in all important spheres of trade.  Ironic as it may sound, competition has indeed heated up and we are now pushed to learn new skills and excel in them.  Patterning our ambitions on newer possibilities, it is wise to now march forward and herald a new era for financial freedom. 

Online Trading: An interesting option to earn money

From the various new prospects that have emerged Online Trading gives us a good possibility to earn income, all from the safety of our homes and the comfort of our chair. The lure of such approaches to make money has had a wide-ranging impact which has caught the attention of investors across all ages.  Regardless of the level of your education, it is actually your spirit of enterprise, the dynamic streak, and a remarkable personal discipline that you will propel you and make you a winner in this game. 

Another attraction of online trading is that it gives a choice of working from home. Given the pandemic situation, this is a work alternative many will seize especially for those quitting their jobs.

However strong the attractions of earning money through such channel are, you need to be certain of some slip-ups along the way. It would be wise to think it through, because failing in a part of any journey. Be aware of rookie mistakes which you could make. Learn from them.  Efficiency and focus will be your North Star. 

Online Trading: The Golden Opportunity 

Online trading in currencies, Stocks and crypto trading today is fast emerging is poised to be one of the ‘blue chip avenues’ to earn a decent income from home. With several appeals to its credit, the most important feature is that it is easy to begin. Besides having a trading account, all that you require is a good internet connection, a laptop and some capital. Yet a determined focus to learn this trade will help you raise your bar. 

Learn about the trade: Educate 

This does not indicate years at the University.  But knowledge about online trading will stand you in good stead. Take up an online course, one-to-one mentorship with a guru, podcast or a webinar. Learn to know more and subsequently earn more.  When your understanding is supported with adequate experience and expertise that you would have gained over time in this domain, you will be the new voice sharing with the newcomers those victory guidelines that made you rich.  

The foundation that you would have built will serve to be an impactful insight to others. Yet don’t halt with just a few wins. Keep trading and get better at it. Take your skill notches higher to be a success you always wanted to be.  

Trading comfort for hard work: It pays

Learning to trade online is akin to acquiring a new skill. It requires the same amount of dedication, commitment and focus.  All this coupled with hard work and a sincere effort will ensure that the road smooth sailing.  It is wise to remember that there isn’t any monthly income or any structured payment which will come your way.  All your wins will translate into liquidity for you.  However, having the proficiency to earn in trading will empower you.  At times when the road is too long and tiresome, it is nice to know that there is light at the end of the tunnel.

Be prepared 

For all its glory online trading is not for someone who has weak nerves.  This option is as dynamic as it is unstructured which demands nerves of steel to see the win. Regardless of how dynamic and water-tight your trading strategies are, there are chances, you will face some losses. Don’t be disheartened. Take it as a part of your journey and learn from it. This is good as it will come handy as your learning and experience. Anyone, at any age, can enter and make living with forex trading, with just the right amount of personal discipline.

Have a Plan B

As you are embarking on something so ambiguous yet dynamic, it is worth the while to have a Plan B. Have a safety net a nest egg or some arrangement to fund you. This will take away the needless stress and facilitate your growth through the months you could take to grasp the trading strategy and make enough money. 

For any online trading, you will need to find an expert trading strategy. By and large, leaving your place of employment is an important choice that can represent the defining moment for you. 

Notwithstanding, you are the only one who can choose whether it will be justified, despite all the trouble.  In this way, it requires sufficient and opportune planning. 

Additionally, it might be ideal on the off chance that you read all the more exchanging system articles to comprehend the complexities of exchanging stocks and unprecedented swift currency movements. Furthermore, look at different online brokers to see their offers and figure out what is best for you.

If you choose to trade in forex, then who better than Siby Varghese. He is an award-winning forex trader, a PAMM and Forex Trading expert sharing his success fundas with his students and investors alike through his counselling firm, Forex Fund Management and PAMM Services.  A millionaire forex trader, Siby Varghese holds programs for all those interested in this trade. Get on to one of his programs and leverage his astute insights to make money. Get mileage from his 9 years’ plus experience which makes Siby Varghese an expert in his field and a go-to professional for guidance on investments in financial markets.

You can follow him on his website: www.sibyvarghese.com 

Disclaimer: The views, suggestions and opinions expressed here are the sole responsibility of the experts. No Forbes India journalist was involved in the writing and production of this article.

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