You do not necessarily have to quit your job to start an alternative income source . After I quit my job I was focused on building a strong trading system which would allow me to generate extra income source which I always wanted to. Now why did I quit? I needed a break and desperately wanted to test my skills to build a strong foundation. Trading is not easy, it requires lot of patience I would say it requires more patience than any other normal business
Let’s find out how can we build a strong income generating trading system , without quitting your job
- Education – First thing first you need to start learning. Grow your understanding on reading charts. You can start with basics first learn what Forex market is and how it operates. Then start to learn charting techniques which will give you an edge, do not dig too much into learning all the indicators that wont help and you will get confused and irritated. Keep it simple and pick one or two combine it with price action and you are good to go. Make trading simple as much as you can do not complicate things. If you can spare an hour each day you can cover the education part in few months or if you wanna learn slowly and can spend few hours on weekend that is also a good option. But do not skip this part and hop onto trading. You will get broke
- Back testing and building your trading system : Once you know all the major concepts in trading now its time to test them and see if it works or not , you might need to repeat this step a lot of times to build your own trading system and this is most time consuming part. This is the stage which people do not consider it doing and loose money in their early stage of trading journey. Do not hurry to start trading with real money. Market will be full of opportunities you will not miss anything. You will gain more confidence with more patience. Now this takes time and regularity you have to give at least an hour 3 to 4 days a week . This might take another few months to give u confidence in your trading system. Read a full detailed blog on back testing and building your own trading system
- Enjoy the fruit: You did everything right and now its time to enjoy the benefits of all the hard work u have put in . Do not forget you don’t have to quit your daily job to build this . All you need to spare some time out and do this with full focus
You might have heard people talking about trading for life and how to quit your job and trade for living .All this is true but not applicable to each one of you. Think of yourself its not just typing a resignation letter and saying bye to your boss. Quitting requires more than that you have be mentally, financially and emotionally prepared. Even after you are prepared for all of this you might get directionless and get stuck from where to start once you quit. Not getting results do not know what to do make you feel useless and weak . Rather not taking a hard way try a smoother and smarter way.
Hannah was a full time trader and after realizing that she has strong system in place and she has lot of free time, She started working as full time employee with one of the digital marketing company. I would say it was a right decision. she is 22 and still have no liabilities and if she want to explore more professionally what’s wrong in it. Do not forget she has done the hard work and she have a strong foundation to get her going financially
I am enjoying my time for now and ready explore the world. Having said that try to build an alternative income source. this will keep you going when the hard time will come
Take care stay fit
#WorldFxClub
