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Forex trader: is it a profession?
Written by: PaxForex analytics dept - Friday, 27 June 2014 0 comments
We could say that yes and no. Many new coming traders of this currency market ask such questions. There is no unequivocal answer to them. The name "profession" implies the existence of certain human skills through the use of which a man receives financial profit.
With the advancement of online trading technologies and access to global financial markets, Forex became available to everyone. You don’t need much of your own funds to try your hand there. Also, the necessary knowledge is available on the brokers’ websites from the comfort of your home.
However, to achieve significant results and obtain appreciable profits you need time for training, practice and immersion in real market conditions.
Many of the above is enough to work on Forex and it may become a source of additional income, area of professional development and even enthusiasm, helpful from a financial point of view. And not necessarily to give up work or study: Forex advantage lies in the fact that trading is easy to combine with
But for someone comes a time when experience and deep knowledge of the market, trading tools and technical solutions allow enter the higher professional level. Profession of a trader has a number of advantages and, above all, it is the relative freedom: no need to go to the office, no superiors and subordinates, and for the work you need just a computer and internet access.
Another advantage of the professional trader is that no need to invest your own funds. If trading systems are effective and the average profitability suggests a stable plus, then it is bound to attract investors willing to transfer funds to the management.
A trader works on the market with investors' funds, called the manager and his income is a percentage of the profit for the trade made by his clients. And this kind of activity can also safely be called professional.
The main thing that unites all of the above is the commitment and perseverance. Only in this way Forex trading is becoming a profession.