Daily Earnings Are Not a Must
Many traders make the wrong trading decisions because they are driven by the fear of losing their entire investment. Having a primary source of income will save you from severe pressure and stress. A stable salary will meet your day-to-day needs, so you won't have to make a profit in Forex every day.
Plus, losses will be less scary. If your ability to eat today depends on your current investment, it will be difficult for you to think sanely. Having stable earnings will allow you to focus on trading and improving your skills, without fear of losing everything.
Having a basic job will give you stability and clarity of mind. You will avoid making decisions based on emotions and may eventually become a professional trader.
Forex Is Perfect for Part-Time Employment
The majority of trades in the foreign exchange market fall on specific hours. By choosing one or two trading instruments, the period for managing your trades can be reduced to just a couple of hours a day. For example, during the American trading session or between London and New York sessions.
This market feature allows you to combine trading with your main job. It all depends on your time zone. You can mark suitable trading periods, depending on your working hours, and choose a suitable trading strategy later.
All Traders Need a Break
One of the common problems in Forex is addiction. Many traders spend so much time at charts that they lose all their funds and worsen their health. Having a main job, you will not allow yourself to cross this line. Sooner or later, you will have a break from trading and switch to other activities.
Moreover, a break from trading is essential. By switching to other activities, you allow yourself to recover. Such stops allow you to return to trading with renewed vigor. You will make smarter decisions and improve your skills faster.
Hopefully this article has convinced you that you shouldn't put all your eggs in one basket. Even if you plan to make Forex your main source of employment, it is best to make the transition gradually. Don't quit your main job until you start making a steady income equal to or greater than your current salary. Also, make sure you have enough capital on hand in case the trade fails and you temporarily need a financial cushion. Only then will you be truly ready to become a full-time self-employed Forex trader.